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AKAN

META

Akanda Corp. announced that Canmart, its wholly-owned subsidiary, plans to integrate social shopping technology on Facebook and Instagram, aiming to enhance its market presence and customer engagement.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:11 pm

SPOT

Universal Music Group and Spotify have expanded their strategic relationship, allowing Spotify to distribute music videos in the US. This move could enhance Spotify's content offerings and potentially attract more users and advertisers, leveraging Universal Music Group's extensive catalog of music videos.

Portfolio Pulse from Charles Gross

March 28, 2024 | 2:04 pm

DELL

Dell Technologies Inc. CEO Michael Dell has navigated the company through significant challenges, including opposition from activist investor Carl Icahn, to capitalize on the AI boom. Under his leadership, Dell's AI-optimized servers saw a 40% increase in orders last quarter, and the company's stock surged by 49% in 2024, reaching an all-time high of $131.06. This success has elevated Dell's personal net worth, making him the 14th richest person globally.

Portfolio Pulse from Rounak Jain

March 28, 2024 | 2:01 pm

CTAS

Five analysts have recently updated their ratings on Cintas (NASDAQ:CTAS), showing a positive shift with upgrades in price targets and ratings, reflecting bullish to somewhat bullish sentiments. The average 12-month price target for CTAS has been raised to $715.0, marking an 8.99% increase from the previous target of $656.00. This change is based on the company's strong financial performance, including a 9.3% revenue growth, a net margin of 15.7%, and impressive ROE and ROA figures. Cintas is recognized for its uniform rental programs and ancillary products and services, indicating a solid market position and growth potential.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 2:01 pm

AVTX

Avalo Therapeutics Inc (NASDAQ:AVTX) has acquired AlmataBio Inc, gaining a Phase 2-ready anti-IL-1β mAb, AVTX-009, initially developed by Eli Lilly for skin disorder treatment. Avalo announced a $185 million private placement to fund the development of AVTX-009 for hidradenitis suppurativa (HS) and potentially other chronic inflammatory conditions. The company expects Phase 2 trial results in 2026 and funding to last into 2027. AVTX shares surged 348.60% to $21.31.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 2:00 pm

CRM

FDTX

FEPI

Salesforce, Inc (NYSE:CRM) celebrated securing the rights to Albert Einstein's image by assembling nearly 900 individuals dressed as the scientist in San Francisco, setting a Guinness World Record. This $20M investment, made nearly a decade ago, underscores Salesforce's branding strategy to dominate the AI tech field with a friendly Einstein symbolizing its AI's innovativeness and safety. The licensing proceeds benefit the Hebrew University of Jerusalem. Salesforce's CEO Marc Benioff highlighted the unique capabilities of Einstein Copilot in leveraging customer data. The company's stock, part of REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Fidelity Disruptive Technology ETF (NASDAQ:FDTX), saw a 57% gain in the last 12 months and traded higher by 0.45% at $302.75 recently.

Portfolio Pulse from Anusuya Lahiri

March 28, 2024 | 1:53 pm

AKBA

The FDA has approved Akebia Therapeutics Inc's (NASDAQ:AKBA) Vafseo for anemia due to chronic kidney disease in adults on dialysis. Vafseo, a once-daily oral treatment, is now approved in 37 countries. The approval is based on the INNO2VATE program and post-marketing data from Japan. Akebia plans to commercialize Vafseo in the U.S. with its commercial team, aiming to make it the new oral standard of care. Analysts predict peak sales of $954 million by 2031. Following the news, AKBA shares surged 18.8% in premarket trading.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 1:50 pm

SMCI

Deep-pocketed investors have shown a bearish stance on Super Micro Computer (NASDAQ:SMCI) options, with a significant portion of activity suggesting a big move is imminent. Benzinga's tracking revealed 13 unusual options activities, with a bearish majority. The price band focus is between $830.0 and $1095.0. SMCI's current market status shows a slight price decline with potential overbought signals. Analysts have mixed reviews, with an average target price of $1204.2. The company specializes in high-performance server technology.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:46 pm

TSLA

Tesla shares are trading lower following the announcement that Xiaomi has priced its SU7 electric vehicle (EV) below Tesla's Model 3 in China, indicating increased competition in the EV market.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:33 pm

MTCH

Z

ZG

JPMorgan analyst Cory A. Carpenter discussed insights from a meeting with Match Group Inc's CEO, Bernard Kim, focusing on Tinder's strategy of incremental innovations and its impact on user engagement and conversion rates. The strategy includes tailored subscription offerings and localized features, aiming to enhance the user experience without major changes to its core swiping mechanism. Additionally, recent board additions at Match Group, including executives from Instacart and Zillow Group, signal a commitment to product and marketing innovation. Despite a downward revision in revenue estimates for the online dating industry, a positive long-term growth outlook is maintained.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 1:22 pm