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LEXX

Traders are closely monitoring Lexaria Bioscience due to circulating analyst comments that suggest its DehydraTECH platform, aimed at delivering GLP-1 drugs, could generate compelling data to partner the technology. This development program is seen as a significant step for Lexaria in advancing its technology and potentially partnering with larger pharmaceutical companies.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:27 pm

MSFT

NVDA

Singapore's state-owned investment firm Temasek is in discussions with OpenAI for potential investment. The talks, initially focused on investing in Sam Altman's Hydrazine Capital, have shifted towards OpenAI directly. This comes as OpenAI's CEO, Sam Altman, seeks funding for a global semiconductor manufacturing project, estimated to cost $7 trillion, to boost AI infrastructure. Microsoft Corporation (MSFT) is OpenAI's largest investor, with a $13 billion investment, while Nvidia Corporation (NVDA) provides GPUs for OpenAI's systems.

Portfolio Pulse from Neil Dennis

March 05, 2024 | 4:17 pm

AAPL

AMAT

AMD

AMZN

GLD

GOOG

NVDA

SMH

Investors are closely monitoring semiconductors, particularly the VanEck Semiconductor ETF (SMH), for signs of a pullback, as they are a leading indicator in the AI revolution. The article highlights a 62% gain from the Arora buy zone and suggests a potential market-wide pullback if semiconductors decline. Key semiconductor stocks like NVIDIA (NVDA) and Applied Materials (AMAT) are favored. Additionally, AMD faces challenges with U.S. restrictions on AI chip exports to China, and Apple (AAPL) sees a market share drop in China. Gold, represented by SPDR Gold Trust (GLD), has reached a new high, indicating investor anticipation of an interest rate cut. Negative early trade money flows are observed in major tech stocks and ETFs like Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust (QQQ).

Portfolio Pulse from The Arora Report

March 05, 2024 | 4:14 pm

ACN

Accenture (NYSE:ACN) is set to acquire Udacity, an EdTech leader known for its digital education in technology, data, and AI. This acquisition aims to enhance Accenture LearnVantage by integrating Udacity's proprietary content, expert services, and scalable learning technology. Udacity's team of over 230 professionals will join Accenture, bringing their expertise to Accenture's clients. The terms of the transaction were not disclosed, and the completion is subject to customary closing conditions, including antitrust clearances.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:13 pm

GRUSF

Grown Rogue International Inc (OTCPK: GRUSF) is expanding into the Illinois cannabis market through a partnership with EBC Ventures, forming Rogue EBC LLC. This joint venture has acquired CannEquality LLC, which holds a craft growers license in Illinois, and plans to develop a 50,000 square foot facility in Waukegan, Illinois, with up to 14,000 square feet of cultivation space. The facility is expected to be operational by the second half of 2025. Grown Rogue's investment of up to $6,000,000 in the venture highlights its commitment to growth and market presence in Illinois, a state with over $1.5 billion in recreational cannabis sales in 2023.

Portfolio Pulse from Patricio Liddle

March 05, 2024 | 4:11 pm

META

User reports on Downdetector indicate that Facebook and Instagram are experiencing problems, affecting their functionality and user experience.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:04 pm

XOM

Exxon Mobil Corporation (NYSE:XOM) is on track to complete the overhaul of its Beaumont, Texas refinery's hydrocracker by the end of March. Additionally, Exxon is nearing the sale of a majority stake in Italy's largest LNG terminal to VTTI, backed by Vitol. This move could enhance Exxon's position in the European LNG market.

Portfolio Pulse from Lekha Gupta

March 05, 2024 | 4:02 pm

BA

Ethiopian Airlines has agreed to purchase up to 20 Boeing 777X jets, including a firm order for eight 777-9 passenger airplanes, marking the airline as the first 777X customer in Africa. This deal builds on Ethiopian Airlines' 2023 order for 11 787 Dreamliner and 20 737 MAX airplanes, aiming to modernize and expand its fleet. The 777-9, featuring advanced technologies for improved fuel efficiency and reduced carbon emissions, supports Ethiopian Airlines' growth and fleet renewal strategy. Boeing's partnership with Ethiopian Airlines extends to developing the country's aerospace industry and educational initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:00 pm

EYEN

The FDA approved Formosa Pharmaceuticals and AimMax Therapeutics' clobetasol propionate ophthalmic suspension 0.05% (APP13007) for post-operative inflammation and pain following ocular surgery. This marks the first FDA-approved ophthalmic clobetasol propionate product and enters a $1.3 billion market. Eyenovia Inc (NASDAQ:EYEN) is Formosa's U.S. commercialization partner, having obtained exclusive U.S. rights for APP13007. William Blair increased Eyenovia's risk-adjusted fair value from $5 to $7 per share, with an Outperform rating.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 3:59 pm

AAPL

Wedbush analyst Daniel Ives maintains an Outperform rating on Apple Inc (AAPL) with a $250 price target, despite challenges in China's smartphone market and the discontinuation of Apple's EV project. Ives highlights sluggish iPhone sales in China, which accounts for 20% of global sales, and competition from Huawei. However, he remains bullish due to achievable iPhone sales estimates for 2024 and 2025, strong growth in the Services segment, and the potential for App Store enhancements through AI. Apple shares are currently down 2% to $171.19, with a 9% decrease year-to-date in 2024.

Portfolio Pulse from Chris Katje

March 05, 2024 | 3:49 pm