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ETH-USD

On Monday, 8,464.07 Ether (ETH) worth $27,323,891 was burned, permanently removing it from circulation. This action follows the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing Ether at a 4% annual rate, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -9.38% yesterday.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 6:00 pm

BGNE

BeiGene's stock price increased following the announcement that the FDA has accepted a Biologics License Application for TEVIMBRA.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:46 pm

TRVN

Trevena, Inc. has been granted a new US patent, number 11,912,693, for compounds designed to modulate S1P1 activity, which could have implications for the development of new therapeutic methods. This patent strengthens Trevena's intellectual property portfolio and potentially paves the way for new treatments in areas where S1P1 modulation is relevant.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:43 pm

JANX

Janux Therapeutics Inc (NASDAQ:JANX) released promising data for its cancer treatments, JANX007 and JANX008, showing significant efficacy and safety. JANX007, targeting metastatic castration-resistant prostate cancer, demonstrated high rates of PSA declines and favorable safety profiles in a Phase 1a trial. JANX008, aimed at various solid tumors, also showed encouraging clinical activity and safety. Following these updates, Janux's stock surged 186.5% to $43.26, yet William Blair considers it undervalued, highlighting the potential of Janux's TRACTr platform.

Portfolio Pulse from Vandana Singh

February 27, 2024 | 5:41 pm

MSFT

SNOW

Snowflake Inc (SNOW) is set to report its Q4 earnings with expectations of 18 cents EPS and $759.10 million in revenues. Analyst Mike Cikos of Needham has a Buy rating on SNOW, with a price target raised to $265, citing an 'outsized benefit' from AI growth and cloud migrations. Snowflake's cloud-native data platform is disrupting the market, with a 21% exposure to Azure, indicating a strategic advantage. The company's focus on unstructured data and the Applica acquisition further positions it against competitors like Databricks.

Portfolio Pulse from Surbhi Jain

February 27, 2024 | 5:40 pm

TRVN

Trevena, Inc. has been granted a U.S. patent (11,912,713) for delta-opioid receptor modulating compounds, aimed at treating pain, migraines, depression, Parkinson's disease, and other disorders. This patent covers the methods of using and making these compounds.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 5:33 pm

EXPE

GOOG

MSFT

SONY

TSLA

Bitcoin's price breakout is partly attributed to a rumor about Microsoft supporting bitcoin, though its credibility is questioned. Durable goods data indicates weakening business spending, potentially challenging the no-landing consensus. Sony and Expedia announce layoffs, while home prices remain strong. Early trade shows positive money flows in Alphabet and Tesla, with mixed or neutral flows in other major stocks and ETFs. The article suggests maintaining a balanced protection band in investment strategies.

Portfolio Pulse from The Arora Report

February 27, 2024 | 5:30 pm

HIMS

JANX

NERV

NRXP

TWKS

VKTX

Macy's Inc announced mixed Q4 results and plans to close 150 stores as part of a new growth strategy. U.S. stocks traded mixed, with the Dow Jones falling and NASDAQ rising. Janux Therapeutics, Hims & Hers Health, and Viking Therapeutics saw significant stock increases, while Minerva Neurosciences, Thoughtworks Holding, and NRx Pharmaceuticals experienced declines. Oil prices rose by 1%, and gold increased slightly.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 5:24 pm

BLK

BlackRock Inc. (NYSE:BLK) is shifting its stance from promoting index investing to advocating for actively managed strategies, citing the current economic environment of higher interest rates, persistent inflation, and geopolitical risks as more conducive for active management. This marks a significant departure from the buy-and-hold strategy that has been popular among investors, driven by a decade of low interest rates and strong performance of developed-market stocks and bonds. BlackRock analysts argue that the traditional approach of static asset allocations will not be as effective, urging investors to adopt more dynamic strategies.

Portfolio Pulse from Piero Cingari

February 27, 2024 | 5:21 pm

HERTF

Heritage Cannabis Holdings Corp. (OTCQB:HERTF) reported a significant increase in gross margin for 2023, with over 50% for the year and 628% for Q4 compared to last year. CEO David Schwede attributed this success to product optimization, production efficiencies, and high gross margin sales. The company's products, including RAD vape and Adults Only brand, remain in high demand, particularly in New York, Missouri, and West Virginia. Despite a slight drop in net revenue for Q4 2023, the company saw a decrease in comprehensive loss and general and administrative expenses, indicating improved financial health.

Portfolio Pulse from Jelena Martinovic

February 27, 2024 | 5:10 pm