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NVO

PPH

The FDA has approved Novo Nordisk's Wegovy for expanded use in obesity and cardiovascular disease management, marking a significant advancement in preventive health strategies. This approval is based on the SELECT trial, which demonstrated a 20% reduction in major adverse cardiovascular events. Novo Nordisk's shares dipped 1.9% on the announcement day but have risen 90% over the past year. The VanEck Pharmaceuticals ETF, which holds a significant portion of Novo Nordisk shares, is also impacted.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 7:36 pm

RDFN

Redfin shares are trading higher due to a potential increase in housing market activity, spurred by a drop in mortgage rates and a proposed mortgage relief tax credit by the White House.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 7:30 pm

Zillow shares are trading higher, potentially rebounding from a recent drop caused by a short report. The increase may also be influenced by a general uptick in housing stocks, driven by lower mortgage rates and a proposed mortgage relief tax credit by the White House.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 7:29 pm

AVGO

GLD

IWM

MRVL

NVDA

SOXX

Stocks experienced a mixed session with the S&P 500 and Nasdaq 100 facing weekly losses. Semiconductor stocks fell sharply due to disappointing guidance from Marvell Technology and Broadcom, affecting the sector's ETFs. Small caps outperformed, and gold reached new highs. Bitcoin saw a brief peak before pulling back. Major indices and ETFs showed varied performance, with technology stocks underperforming. Several companies moved on earnings reports, upgrades, and trial results.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 7:18 pm

DOGEUSD

FLOKIUSD

SHIBUSD

WIFUSD

Floki Inu (FLOKI) surged 70% in 24 hours, challenging Dogwifhat (WIF) for the fourth spot among top meme coins. Coinhako announced it would list FLOKI for trading, and a Times Square ad campaign is planned. Floki's staking program's TVL hit a record $420 million, surpassing other meme coins. Floki's weekly gain of 248% outpaces Dogwifhat, Dogecoin (DOGE), and Shiba Inu (SHIB). Floki's community has burned 58% of its total supply, boosting its value.

Portfolio Pulse from Khyathi Dalal

March 08, 2024 | 7:05 pm

BILI

GAMR

HERO

Bilibili Inc (NASDAQ:BILI) received positive analyst reviews from Benchmark and Mizuho, with both maintaining a Buy rating but lowering their price targets to $15 due to challenges in the gaming sector and live streaming competition. Despite these headwinds, Bilibili's advertising growth is highlighted as a strong point, with expectations for continued robust ad growth in fiscal 2024. The company's unique user base and content ecosystem are seen as key drivers for its transition to a mass-market advertising powerhouse. Investors can also gain exposure to Bilibili through ETFs like Global X Video Games & Esports ETF (NASDAQ:HERO) and Amplify ETF Trust Amplify Video Game Tech ETF (NYSE:GAMR).

Portfolio Pulse from Anusuya Lahiri

March 08, 2024 | 6:40 pm

AVGO

GOOG

META

Broadcom Inc (NASDAQ:AVGO) shares fell despite reporting strong Q4 results, with analysts highlighting its AI, dividends, and M&A benefits. JPMorgan, Goldman Sachs, BofA Securities, Truist Securities, Mizuho Securities, and Oppenheimer all maintained or upgraded their ratings, citing robust AI demand and the VMware acquisition's synergy. AI-related sales expectations for FY24 were increased from $7.5B to $10B, notably with significant orders from Alphabet (NASDAQ:GOOG) and Meta Platforms Inc (NASDAQ:META).

Portfolio Pulse from Priya Nigam

March 08, 2024 | 6:40 pm

PLSE

Pulse Biosciences has received FDA 510(k) clearance for its CellFX NSPFA Percutaneous Electrode System, marking a significant regulatory milestone for the company. This approval allows the company to market and distribute the CellFX System in the United States, potentially boosting its market presence and revenue streams.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 6:20 pm

LCID

TSLA

RBC Capital Markets analyst Tom Narayan has halved Lucid Group's price forecast from $6 to $3 despite its technology being 12%-23% more efficient than Tesla's. The downgrade is due to reactive discussions with OEMs, lower expected licensing penetration, and demand concerns for its sedans. Lucid's Gravity and Mid-size offerings aim to reverse these woes, and its tech could benefit PHEVs amidst the EV slowdown in the U.S. Lucid also adjusted the price of its Lucid Air Pure model to compete with luxury sedans from Mercedes and BMW.

Portfolio Pulse from Nabaparna Bhattacharya

March 08, 2024 | 6:08 pm

DIS

MAT

D.A. Davidson analyst Linda Bolton Weiser maintains a Buy rating on Mattel Inc (NASDAQ:MAT) with a $26.00 price target, highlighting the company's expansion into the wood toy segment and upcoming product launches. Mattel's entry into the $800 million wood toy market with Fisher-Price Wood is expected to be margin-accretive. The company also plans to launch Mini Barbie and has seen success with Hot Wheels. Mattel Television Studios is working on multiple series and specials, with toy sales expected to be boosted by Disney's (NYSE:DIS) Moana 2 and Frozen 3.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 6:04 pm