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IMRX

PFE

Immuneering Corporation (NASDAQ:IMRX) reported Phase 1 trial results for IMM-1-104 in RAS-mutant solid tumors, leading to analyst downgrades due to underwhelming data. Despite validating its mechanism, the lack of partial/complete response raised efficacy concerns. Optimism remains for its use in early-stage treatments and specific cancers. Needham lowered its price target but maintained a Buy rating. Other analysts downgraded IMRX or adjusted price targets. Shares fell 31% to $2.01.

Portfolio Pulse from Vandana Singh

March 15, 2024 | 7:29 pm

MRK

Merck & Co Inc (NYSE:MRK) announced that its Phase 3 KEYNOTE-A18 trial of Keytruda in combination with chemoradiotherapy (CRT) for high-risk locally advanced cervical cancer met its primary endpoint of overall survival (OS). This marks the first time an immunotherapy-based regimen has shown a statistically significant improvement in OS for these patients. The safety profile of Keytruda was consistent with previous studies, with no new safety signals identified. Additionally, Keytruda has two other approved indications for cervical cancer in the U.S. MRK shares rose 0.61% to $121.23.

Portfolio Pulse from Vandana Singh

March 15, 2024 | 7:17 pm

LEGN

Legend Biotech announced that the FDA Oncologic Drugs Advisory Committee has recommended CARVYKTI for the treatment of patients with relapsed/refractory multiple myeloma. This recommendation is a significant step towards the approval and commercialization of CARVYKTI, potentially benefiting patients with this challenging condition.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:16 pm

AMD

AMZN

AOTG

ARM

INTC

NVDA

SOXQ

KeyBanc analyst John Vinh maintained an Overweight rating on AMD with a price target of $270, citing strong growth in Genoa instances, particularly led by Amazon AWS. AMD's performance in cloud expansion shows potential for market leadership. Despite a general decline in traditional server demand and China's cloud sector, AMD, along with Nvidia, ARM, and Intel, shows varied performance with AMD and Nvidia remaining stable or growing, while Intel saw a slight decline. Investors can gain exposure to AMD through AOT Growth And Innovation ETF and Invesco PHLX Semiconductor ETF.

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 7:14 pm

AMD

FCX

NVDA

SPRX

TECK

TSM

The article discusses the critical role of copper in the AI technology value chain, highlighting its importance in hardware like AI servers and the broader electrical grid. It mentions companies like Nvidia, Taiwan Semiconductor, and Advanced Micro Devices as key players in AI hardware, and also touches on the investment perspective, with Spear Alpha ETF investing in companies across the AI value chain, including those involved in copper mining like Freeport-McMoRan and Teck Resources. The growing demand for copper, set against a backdrop of shrinking supply, is seen as an investment opportunity.

Portfolio Pulse from Johnny Rice

March 15, 2024 | 7:05 pm

ADBE

AVD

CDLX

CISS

IMRX

SLS

VERB

U.S. stocks traded lower, with the Dow Jones falling over 200 points. Adobe Inc. shares plunged around 14% after issuing a weak revenue forecast for the next quarter. Other notable movements included Verb Technology, Cardlytics, and American Vanguard shares rising significantly, while C3is, SELLAS Life Sciences, and Immuneering Corporation shares fell sharply.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 6:40 pm

SOLUSD

WIF

A cryptocurrency trader, Blockgraze, sold 25% of their Dogwifhat (WIF) holdings for $1.65 million, converting the proceeds into Solana (SOL). Despite the global crypto market's downturn, Dogwifhat has seen significant gains, with its valuation reaching $3 billion. The token's resilience is highlighted by its recent $650,000 fundraising for a Las Vegas sphere display. Additionally, an NFT featuring the 'dog with hat' is being auctioned, currently bidding at 6.942 ETH.

Portfolio Pulse from Khyathi Dalal

March 15, 2024 | 6:36 pm

AAPL

ADBE

AIQ

AMD

AMZN

AVGO

GFS

INTC

META

MSFT

NVDA

SOXX

NVIDIA Corp (NASDAQ:NVDA) has been highlighted by Goldman Sachs analysts for its significant returns and potential for further growth in the AI sector, despite concerns of overvaluation. The analysis outlines three subsequent phases of AI investment opportunities beyond the current phase initiated by ChatGPT, involving companies like Broadcom Inc (NASDAQ:AVGO), Advanced Micro Devices Inc (NASDAQ:AMD), Intel Corporation (NASDAQ:INTC), GlobalFoundries Inc (NASDAQ:GFS), Microsoft Corporation (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Adobe Inc (NASDAQ:ADBE), Meta Platforms Inc (NASDAQ:META), and Apple Inc (NASDAQ:AAPL). Additionally, ETFs like Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) and iShares Semiconductor ETF (NYSE:SOXX) are mentioned as ways to gain exposure to these trends.

Portfolio Pulse from Neil Dennis

March 15, 2024 | 6:21 pm

DBC

DIA

QQQ

SPY

TLT

XLB

XLE

XLK

Wall Street experienced a risk-off sentiment due to high producer inflation figures, affecting major stock indices and cryptocurrencies. The Nasdaq 100 trailed, while small caps and energy stocks avoided losses. The VIX was up 5%, and the iShares 20+ Year Treasury Bond ETF (TLT) fell nearly 3%. Bitcoin dropped to $68,000. Commodities, especially industrial metals and oil, saw gains, with the Invesco DB Commodity Index Tracking Fund (DBC) poised for its best week since January 2024. Major ETFs like SPY, DIA, and QQQ fell, while sector-specific ETFs like XLE and XLB saw gains. Individual stocks like SCCO, JBL, Z, COMP, RDFN, ADBE, GERN, and CSGP had notable movements.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 6:12 pm

IDGT

MRVL

SPRX

TSM

Marvell Technology Inc (NASDAQ:MRVL) and Taiwan Semiconductor Manufacturing Co (NYSE:TSM) have announced a partnership to launch the first-ever 2nm silicon intellectual property (IP) technology platform, aimed at AI clusters and cloud data centers. This development is expected to enhance chip performance, power efficiency, and area optimization. Marvell also reported a 1% year-over-year revenue growth in Q4 and increased its share buyback program. Investors can gain exposure to Marvell through IShares U.S. Digital Infrastructure And Real Estate ETF (NYSE:IDGT) and Spear Alpha ETF (NASDAQ:SPRX).

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 6:08 pm