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AAPL

Apple is testing an AI-powered advertising product akin to Google's Performance Max, aiming to enhance its $7 billion advertising business. This move could significantly impact Apple's revenue stream and position in the digital advertising market.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:46 pm

JFBR

MESO

PIK

Mesoblast Limited's shares surged by 13.4% after announcing FDA support for an accelerated approval pathway for rexlemestrocel-L. Other stocks also saw significant movements, with Kidpik Corp. leading the gainers with a 238% increase following a reverse stock split announcement. On the losers' side, Jeffs' Brands Ltd dropped by 45.2%. The market movements were influenced by various factors including FDA approvals, strategic plans, financial results expectations, and investment proposals.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 5:41 pm

NVO

Novo Nordisk A/S (NYSE:NVO) is addressing patient harm caused by counterfeit versions of its diabetes drug, Ozempic, identified in 16 countries. CEO Lars Fruergaard Jorgensen emphasized the company's serious approach to the issue, collaborating with authorities worldwide. The demand for Novo's drugs, including weight loss-promoting ones, has led to a rise in counterfeit incidents. The FDA is investigating, and Novo Nordisk's Wegovy recently received FDA approval for expanded use. NVO shares dropped 1.01% to $131.72.

Portfolio Pulse from Vandana Singh

March 11, 2024 | 5:31 pm

YMM

ZTO

Full Truck Alliance (NYSE:YMM) reported a 25.3% revenue increase and tripled net income in Q4 last year, driven by strong investment income and new user growth. Despite a challenging environment, the company plans to continue its aggressive sales and marketing spending, which accelerated to 49.8% in the fourth quarter. This strategy has led to mixed investor reactions, with a 5.3% share price drop followed by a recovery. The company's P/S ratio is significantly higher than traditional logistics companies, reflecting investor confidence in its asset-light approach. However, its stock price has trended downward since its IPO. Full Truck Alliance's user growth outperformed many Chinese internet companies, with monthly active shippers increasing by 18.7%. The company's profits rose, benefiting from innovative technologies that enhance pricing and transaction efficiency. Despite competitive pressures, Full Truck Alliance intends to continue investing heavily in user acquisition and expects revenue growth to continue in the current quarter.

Portfolio Pulse from The Bamboo Works

March 11, 2024 | 5:19 pm

AMC

AMC Theatres announced the expansion of its grocery store popcorn distribution to include Publix, Kroger, and Amazon.com, more than doubling its retail outlets. This move comes after a successful nationwide rollout to over 2,700 Walmart stores. The expansion includes AMC Theatres Microwave Popcorn and Ready-To-Eat Popcorn varieties, now available in several flavors at these new retail locations and online. The decision is based on strong consumer demand for AMC's popcorn products.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:10 pm

AAPL

AMD

AMZN

GOOG

GOOGL

META

MSFT

NVDA

A Reddit post by user daynightcase in r/stocks titled 'AI Madness and Profitability' suggests that companies buying AI hardware, such as Alphabet (GOOG/GOOGL), Meta Platforms (META), Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT), collectively referred to as GOMAAM, may offer more value to investors than chip and cloud hardware suppliers like NVIDIA (NVDA) and Advanced Micro Devices (AMD). The post argues that the market's focus on suppliers has overlooked the potential of these major buyers, which could drive the next uptrend in the AI space.

Portfolio Pulse from Surbhi Jain

March 11, 2024 | 5:06 pm

RYDE

Ryde Group Ltd (NYSE:RYDE), a Singapore-based ride-hailing and carpooling company, saw its stock surge after its NYSE American listing. The company recently completed its IPO, offering 3 million Class A ordinary shares at $4.00 each, at the lower end of the $4.00-$5.00 expected range. Ryde, marking the first Singapore ride-hailing startup to go public on the NYSE, aims to use the IPO proceeds to expand globally and disrupt the industry. The company also introduced a 0% commission for drivers in 2024 to support the driver community and promote fairness. RYDE shares jumped 21.4% to $6.40.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 5:03 pm

SNPO

Truist Securities has reaffirmed its Buy rating on Snap One Holdings (NASDAQ:SNPO) and increased its price target from $11.00 to $12.00. Currently, SNPO shares are trading at $8.19, indicating a potential upside of 46.52% if the target price is reached. Snap One Holdings offers products, services, and software for smart living experiences through professional integrators.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 5:00 pm

GBTC

IBIT

Grayscale Bitcoin Trust (GBTC) and iShares Bitcoin ETF (IBIT) shares are trading higher as Bitcoin hits all-time highs, with Bitcoin breaking the $72,000 mark. The surge is attributed to strong net inflows into Bitcoin spot ETFs, with nine ETFs now holding over 4% of Bitcoin's total circulating supply. On March 7, net inflows reached $472 million, and the total net asset value of these ETFs surpassed $54 billion. GBTC shares are up 4.8% at $64.86, and IBIT shares are up 5% at $41.53.

Portfolio Pulse from Erica Kollmann

March 11, 2024 | 4:52 pm

VKTX

Viking Therapeutics Inc (NASDAQ:VKTX) shares dropped 10.9% to $63.95 without specific company news. The decline follows a recent public offering of 6.471 million shares at $85 each and volatility after positive Phase 2 VENTURE trial results. The company does not pay dividends but engages in other value-returning activities. VKTX's 52-week range is $8.28 to $99.41.

Portfolio Pulse from Henry Khederian

March 11, 2024 | 4:40 pm