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ETHUSD

On Thursday, 14,696.13 Ether (ETH) worth approximately $50.2 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, reducing Ether's supply. The Ethereum network is currently issuing 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 -19.18% yesterday.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 6:00 pm

General Motors is recalling nearly 820,000 pickup trucks in North America due to a defect where tailgates may unexpectedly unlatch, as reported by Reuters citing the automaker.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 5:54 pm

NVDA

SSNGY

Micron Technology, Inc. (NASDAQ:MU) shares rose after Mizuho analyst Vijay Rakesh maintained a Buy rating and increased the price target from $100 to $105, citing improving margin profiles and high-bandwidth memory tailwinds. Micron's LPDDR5X memory and UFS 4.0 mobile flash storage were selected by Samsung Electronics for the Galaxy S24 series. Additionally, Micron began volume production of the 24GB 8H HBM3E solution for Nvidia Corporation's H200 Tensor Core GPUs, boasting about 30% lower power consumption than competitors. Micron's stock is trading at 52-week highs, driven by the semiconductor industry's growth due to the adoption of artificial intelligence.

Portfolio Pulse from Erica Kollmann

March 01, 2024 | 5:54 pm

AAPL

AMD

DELL

MSFT

NVDA

The article discusses a gamma squeeze in AMD and aggressive buying in DELL due to increased AI server orders. It mentions Elon Musk suing OpenAI, co-founded by him, for prioritizing profits over humanity, with Microsoft's investment in OpenAI highlighted. A major bank downgraded Apple, a rare move given AAPL's popularity. Early trade money flows are positive in NVDA, neutral in MSFT, AMZN, META, negative in AAPL, GOOG, TSLA, and mixed in SPY and QQQ. The momo crowd is buying stocks, gold, and oil in early trade.

Portfolio Pulse from The Arora Report

March 01, 2024 | 5:34 pm

CELH

COIN

MSTR

PANW

SIDU

Benzinga's Stock Whisper Index highlights five stocks: Coinbase Global, Palo Alto Networks, MicroStrategy Inc, Celsius Holdings, and Sidus Space Inc, focusing on their recent developments and potential investor interest. Coinbase saw increased traffic amid Bitcoin's surge, Palo Alto Networks rebounded after weak guidance, MicroStrategy's Bitcoin holdings drew attention, Celsius Holdings' earnings beat estimates, and Sidus Space Inc prepared for a satellite launch.

Portfolio Pulse from Chris Katje

March 01, 2024 | 5:31 pm

BLK

Vanguard's CEO Tim Buckley announced his retirement by the end of 2024 after over 30 years with the company. Vanguard has begun searching for a successor, considering internal and external candidates. Greg Davis has been appointed as President. Under Buckley's leadership, Vanguard's assets grew over 80% to $9 trillion, benefiting from the trend towards low-cost passive funds. Vanguard is now the second-largest ETF issuer in the U.S., behind BlackRock Inc (NYSE:BLK). Buckley navigated Vanguard through political challenges without engaging in the controversies of ESG investing.

Portfolio Pulse from Vandana Singh

March 01, 2024 | 5:26 pm

ERIC

MSFT

NVDA

TMUS

Microsoft Corp (NASDAQ:MSFT) is expanding its presence in the telecom equipment market through a partnership with Etisalat to build a 5G network in the UAE and launching the AI RAN Alliance with Nvidia Corp (NASDAQ:NVDA), Ericsson (NASDAQ:ERIC), and T-Mobile US, Inc (NASDAQ:TMUS). Additionally, Microsoft, OpenAI, and Nvidia are investing $675 million in Figure AI for AI-powered humanoid robots. MSFT shares dropped slightly by 0.22%.

Portfolio Pulse from Anusuya Lahiri

March 01, 2024 | 5:19 pm

BIVI

CRDF

FSR

NXU

SCLX

SIDU

The Nasdaq Composite gained around 100 points, with U.S. stocks trading higher. Energy shares rose by 1.6%, while utilities fell by 1.4%. The ISM manufacturing PMI declined to 47.8 in February. BioVie Inc. shares surged 81% after announcing potential improvements for Parkinson's and Alzheimer's patients. Cardiff Oncology's shares rose 38% following positive financial results and clinical updates. Nxu, Inc. shares also gained 38% after a successful Tesla Cybertruck charge. Sidus Space shares dropped 39% after pricing a public offering. Fisker Inc. shares fell 44% due to preliminary revenue results and going concern doubts. Scilex Holding Company shares fell 40% after announcing a bought deal offering.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 5:16 pm

META

NVDA

Meta Platforms Inc's stock (META) reached a new all-time high, surpassing $500, marking a 40% increase YTD and 185% over the past year. This surge is attributed to recent developments, including partnerships and advancements in AI and AR technologies. Technical indicators and analyst ratings suggest a strongly bullish trend, despite the RSI indicating the stock might be overbought. Nvidia Corp (NVDA) leads the Magnificent Seven stocks with a 248% return YTD.

Portfolio Pulse from Surbhi Jain

March 01, 2024 | 5:05 pm

BIDU

Baidu Inc (NASDAQ:BIDU) reported a 6% YoY revenue growth to 34.95 billion yuan in Q4 2023, driven by AI applications and advertising. Despite this, earnings per share of 95 cents fell short of the $2.48 analyst consensus due to high AI spending. The company's strategic shift towards AI, including the launch of its ChatGPT-like ERNIE Bot, aims to combat economic slowdowns and diversify revenue sources. Baidu's full-year revenue rose 9% to about $19 billion, amidst challenges like the U.S. ban on exporting advanced semiconductors to China. Google is re-entering the Chinese market through AI software, intensifying competition.

Portfolio Pulse from Upwallstreet

March 01, 2024 | 5:05 pm