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ETH-USD

On Wednesday, 16,557.91 Ether (ETH) worth approximately $64.12 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned, contributing to a decrease in Ether's supply. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -21.99% yesterday.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 6:00 pm

MSFT

Joe Rogan discussed the cheating problem in Microsoft Corp.'s Call of Duty on his podcast, focusing on aimbots and wallhacks. He highlighted the ease of acquiring cheat tools and the impact on gameplay. Microsoft's anti-cheat initiative 'Ricochet' was mentioned as a countermeasure.

Portfolio Pulse from Franca Quarneti

March 07, 2024 | 5:59 pm

MU

Stifel analyst Brian Chin upgraded Micron Technology Inc (NASDAQ:MU) from a Hold to a Buy rating and increased the price target from $80 to $120. Chin anticipates Micron to outperform Street estimates by 2025 due to a recovery in DRAM supply, improved gross margins, and increased demand from generative AI. Despite current consensus estimates predicting a loss, Chin expects Micron's DRAM business to drive significant revenue and profitability growth, particularly by 2025, due to tight DRAM supply and increased AI demand.

Portfolio Pulse from Adam Eckert

March 07, 2024 | 5:59 pm

NNDM

SSYS

Stratasys, Ltd. (NASDAQ:SSYS) reported Q4 FY23 revenue of $156.3 million, surpassing the consensus of $154.2 million, with an adjusted gross margin increase to 48.8%. Despite a decrease in adjusted operating income and EBITDA, the company met the adjusted EPS consensus of $0.02. Stratasys provided a FY24 outlook with expected revenue of $630 million-$645 million and adjusted EPS of $0.12-$0.19. The company also highlighted its innovation in additive manufacturing, mentioning the F3300 and its first customer, Toyota. Additionally, Stratasys received a preliminary acquisition proposal from Nano Dimension Ltd (NASDAQ:NNDM) at $16.50 per share in cash. SSYS shares surged 7.16% to $12.43.

Portfolio Pulse from Lekha Gupta

March 07, 2024 | 5:54 pm

GOOGL

Google has announced a partnership with Elastic to support Elastic Cloud on Kubernetes (ECK) on Google Kubernetes Engine (GKE) in Autopilot mode. This collaboration allows customers to leverage the benefits of GKE Autopilot and ECK for search, observability, and security needs, offering a fully managed Kubernetes experience with dynamic scalability and low total cost of ownership. GKE Autopilot manages clusters, nodes, and Kubernetes upgrades, while ECK streamlines the operations of the Elastic Stack on Kubernetes, facilitating cluster management and advanced functionalities.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:52 pm

F

GM

HYMTF

NSANY

RIVN

TSLA

WKSP

Ford Motor (NYSE:F) reported expanding EV sales, including its electric F-150 Lightning. Tesla (NASDAQ:TSLA) and Rivian (NASDAQ:RIVN) face production challenges, with Rivian betting on an affordable SUV. Nissan (OTC:NSANY) is in talks with Fisker for electric pickups. Worksport Ltd. (NASDAQ:WKSP) announced solar-powered accessories for electric pickups, targeting major brands like Ford, General Motors (NYSE:GM), Hyundai (OTC:HYMTF), and potentially Tesla's Cybertruck.

Portfolio Pulse from Upwallstreet

March 07, 2024 | 5:51 pm

MDT

The FDA has classified Medtronic Neurosurgery's recall of its Duet External Drainage and Monitoring System Catheter Tubing as a Class I recall due to the risk of catheter disconnection. This issue has already resulted in 26 reported injuries. The recall highlights a significant safety concern for patients using the device.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:49 pm

PTON

Peloton's CFO announced at the Morgan Stanley Conference that the company expects to be cash flow positive in Q4. Despite a year-over-year decrease in bike demand, there has been an increase in demand for their Tread product.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:49 pm

ATAI

ATAI Life Sciences shares are trading higher, potentially in response to MindMed receiving FDA Breakthrough Therapy Designation for its MM120 program in generalized anxiety disorder.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:42 pm

BJ

LYT

VSCO

U.S. stocks traded higher with the Dow gaining 0.26% and the Nasdaq up 1.38%. BJ's Wholesale reported lower-than-expected sales but beat EPS estimates. Lytus Technologies, CERo Therapeutics, and Brera Holdings saw significant stock increases, while Victoria's Secret, Methode Electronics, and Avid Bioservices experienced sharp declines. Oil and gold prices saw minor increases.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 5:35 pm