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TSLA

Morgan Stanley analyst Adam Jonas has reduced the target price for Tesla Inc (NASDAQ:TSLA) from $345 to $320 and lowered FY24 sales volume forecasts due to product and market challenges. Despite these adjustments, Jonas maintains an 'overweight' rating on Tesla, citing its potential as an AI company. However, he notes that Tesla's recognition as an AI company is contingent upon stabilizing its auto business earnings.

Portfolio Pulse from Anan Ashraf

March 06, 2024 | 3:57 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced significant declines, with Bitcoin dropping $5,000 after reaching a new all-time high. Over $1.15 billion in crypto was liquidated, affecting 311,448 traders. The market downturn also impacted tech stocks, with the Nasdaq Composite falling 1.65%. Apple's stock declined nearly 3% following a report of decreased iPhone sales in China. Analysts advise calm, noting the market's potential for recovery and cautioning against FOMO.

Portfolio Pulse from Mehab Qureshi

March 06, 2024 | 3:23 am

AAPL

BABA

CRWD

PHUN

SOFI

On Tuesday, major U.S. stock indices closed lower. Apple's shares fell due to a 24% drop in iPhone sales in China. SoFi Technologies announced a proposed convertible senior notes offering to raise $750 million. Phunware surged after announcing its Q4 and full-year financial results, a reverse stock split, and a public offering. CrowdStrike's shares dropped despite strong Q4 performance and revenue growth. Alibaba slightly increased after leading a financing round for AI startup MiniMax.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 2:34 am

AAPL

Wedbush analyst Dan Ives advises against selling Apple Inc (AAPL) stock, highlighting the company's upcoming AI developments as a significant growth opportunity. Despite a 24% decline in iPhone sales in China and mixed reviews on AI initiatives like the Vision Pro headset, Ives views the current situation as a buying opportunity for Apple. He remains optimistic about Apple's future, especially after the company decided to abandon its EV project.

Portfolio Pulse from Benzinga Neuro

March 06, 2024 | 1:53 am

SHIBUSD

Shiba Inu (CRYPTO: SHIB) experienced a 13.3% decrease in value despite a significant increase in active accounts and whale transactions. Whale transactions over $100,000 surged to 2,222, and active accounts more than doubled to 1,896. Trading volumes for SHIB reached $14.2 billion, surpassing other major cryptocurrencies. The Shiba Inu community anticipates exciting announcements, including 'Shiba Names' for holders. Social activity for SHIB remains high, with a community member advising against panic selling and encouraging buying the dip.

Portfolio Pulse from Khyathi Dalal

March 06, 2024 | 12:02 am

DIS

Nelson Peltz of Trian Fund Management is leading an activist battle against Walt Disney Co (NYSE:DIS), aiming to 'restore the magic' by addressing the company's underperformance. Trian's plan includes refining Disney Parks strategy, developing a direct-to-consumer strategy, improving accountability, and enhancing cost structure. Trian criticizes Disney's late entry into streaming, poor acquisitions, and suggests a CEO succession plan. Disney faces another activist challenge from Blackwells Capital, suggesting a spin-off of real estate holdings and investment in virtual/augmented reality. Disney's annual meeting on April 3 is highly anticipated amid these activist battles.

Portfolio Pulse from Chris Katje

March 05, 2024 | 11:52 pm

BTCUSD

Bitcoin (BTC) reached a new all-time high of $69,170.63, surpassing its previous 52-week high. The surge is attributed to the SEC's approval of Bitcoin ETFs and growing investor interest. A Benzinga poll revealed that over half of the respondents believe Bitcoin could hit $100,000 sooner than expected, with experts and analysts predicting it could reach this milestone by the end of 2024. Notable predictions include Ark Invest CEO Cathie Wood's 2030 target of $682,000 to $1.48 million, and other experts foreseeing $100,000 to $200,000 by 2024-2025.

Portfolio Pulse from Chris Katje

March 05, 2024 | 10:59 pm

ADCT

ADC Therapeutics announced that abstracts on its novel antibody drug conjugates have been accepted for presentation at the AACR Annual Meeting. This development could potentially highlight the company's progress and innovations in the field of antibody drug conjugates, which may influence investor perception and the company's stock value.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:46 pm

VSTM

Verastem Oncology announced receiving FDA Orphan Drug Designation for Avutometinib alone or in combination with Defactinib for treating recurrent low-grade serous ovarian cancer. The company plans to submit an NDA for Accelerated Approval in the first half of 2024, aiming for a 2025 launch.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:29 pm

LLY

Eli Lilly announced its intention to present preclinical data for agents targeting Nectin-4, KRAS G12D, and BRM (SMARCA2) at the upcoming AACR Annual Meeting. This move highlights the company's ongoing research and development efforts in the oncology field.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:24 pm