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AVGO

HACK

KNCT

Broadcom Inc (NASDAQ:AVGO) introduced WatchTower, an open observability solution designed to enhance business performance by simplifying the identification and resolution of incidents within the mainframe environment. WatchTower integrates various data sources to break down IT silos and improve operations. It also incorporates OpenTelemetry for streaming insights to tools like Datadog and Grafana. Additionally, Broadcom halted the sale of its security software unit, Carbon Black. Investors can gain exposure to Broadcom through ETFs like HACK and KNCT. AVGO shares dropped 3.41% to $1,354.35.

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 5:04 pm

IKT

HC Wainwright & Co. has maintained its Buy rating for Inhibikase Therapeutics (NASDAQ:IKT) and kept its price target at $27.00, despite the current share price being $2.15, indicating a potential 1155.81% increase. Inhibikase Therapeutics is a clinical-stage pharmaceutical company focusing on developing treatments for Parkinson's disease and related disorders.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:00 pm

NYXH

Stifel has reaffirmed its Buy rating on Nyxoah (NASDAQ:NYXH), increasing the price target from $10.00 to $20.00. Despite a recent 3.03% drop in share price to $15.35, the new target suggests a potential 30.29% upside. Nyxoah specializes in developing solutions for sleep disordered breathing conditions, notably with its Genio system for treating Obstructive Sleep Apnea.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:00 pm

LRCX

UBS has reaffirmed its Buy rating on Lam Research (NASDAQ:LRCX) and increased its price target from $885.00 to $1130.00. Despite a recent 1.16% decline in share price to $966.14, the new target suggests a potential 16.96% upside. Lam Research, a leading semiconductor equipment manufacturer, is noted for its dominance in etch technology and strong position in deposition, serving major chipmakers like TSMC, Samsung, Intel, and Micron.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:00 pm

APGE

Apogee Therapeutics Inc (NASDAQ:APGE) reported positive interim Phase 1 data for APG777, a treatment for moderate-to-severe atopic dermatitis and other inflammatory diseases, showing promising pharmacokinetic and pharmacodynamic results. The data supports potential for APG777 to be dosed once every three or six months. Apogee plans to initiate a Phase 2 trial in 2024, with topline data expected in 2H 2025. The company's strong cash position is expected to support operations into Q4 2026. APGE shares surged 48.70% to $62.01.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 5:00 pm

MSTR

TSLA

Tesla Inc (NASDAQ:TSLA) owns an estimated 9,720 Bitcoin, valued at $662.1 million based on current prices. The company, which began purchasing Bitcoin in January 2021, has sold a significant portion of its holdings but still retains a substantial amount. Tesla's Bitcoin investment, initially an experiment, could see further sales as Bitcoin hits new all-time highs. Tesla also holds Dogecoin (CRYPTO: DOGE) and previously accepted Bitcoin as payment for vehicles.

Portfolio Pulse from Chris Katje

March 05, 2024 | 4:47 pm

META

Meta Platforms Inc. experienced a widespread outage affecting Facebook, Instagram, and Threads, with users reporting issues across multiple countries. The outage, confirmed by website monitoring services and Meta's spokesperson, is not related to country-level filtering or censorship. Hashtags related to the outage trended on X, and Meta is actively working on resolving the issue. Elon Musk commented on the situation, highlighting that X's servers are operational.

Portfolio Pulse from Rounak Jain

March 05, 2024 | 4:42 pm

BUD

TLRY

A Canadian study published in Drug and Alcohol Dependence found that legalizing cannabis led to a decline in beer sales, with an immediate drop of 96 hectoliters per 100,000 people and a further monthly decline of four hectoliters. Canada's excise tax revenue from cannabis in the 2022-23 fiscal year surpassed that from wine and beer combined. Tilray Brands (TLRY) acquired eight beer brands from Anheuser-Busch (BUD), positioning itself in both the beer and cannabis markets. Tilray's CEO plans to infuse these drinks with THC or CBD upon U.S. legalization.

Portfolio Pulse from Maureen Meehan

March 05, 2024 | 4:40 pm

AAPL

NVDA

Analyst Ming-Chi Kuo predicts a decrease in 2024 iPhone shipments to 200M units from the previous consensus of 220M-225M. He suggests that if Apple fails to launch impressive GenAI services this year, Nvidia is likely to surpass Apple in market cap.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:32 pm

AMD

Advanced Micro Devices (AMD) CFO announced at the MS Conf that the AI accelerator market, in which AMD participates, surpassed $40 billion in 2023 and is expected to more than double in 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:28 pm