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JOBY

Air taxi startup Joby plans to launch its service in Dubai before the U.S., indicating a strategic move to tap into international markets ahead of domestic operations. This decision could reflect on the company's global market penetration strategy and regulatory navigation.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:59 pm

NKTX

Nkarta Inc (NASDAQ:NKTX) stock fell 29.4% to $9.17 after announcing the deprioritization of its NKX101 cancer drug program following a review of preliminary safety and response data. The company is redirecting resources to its lead pipeline program, NKX019, for autoimmune disease. Despite initial promising results, the aggregate CR/CRi rate for NKX101 in a clinical trial was lower than expected. Nkarta plans to focus on NKX019, with a study on lupus nephritis set to begin in the first half of 2024. As of December 31, 2023, Nkarta reported having sufficient funds to support operations into 2026.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 5:49 pm

LOW

High-rolling investors have shown a bearish sentiment on Lowe's Companies (NYSE:LOW) through recent options trades, as tracked by Benzinga. A total of 8 options trades were identified, with a sentiment of 100% bearish, focusing on a price band between $240.0 and $280.0. The trading activity includes one put and seven calls, with significant trade prices and varying open interest. Lowe's is a major home improvement retailer, and its stock price is slightly up by 0.02% at $261.05. Analysts have mixed opinions, with an average target price of $250.2, and ratings ranging from Buy to Hold.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 5:45 pm

CRM

GOOG

Google has announced that the feature for bidirectional data sharing between BigQuery and Salesforce Data Cloud is now generally available. This integration allows users to seamlessly share data between Google's BigQuery and Salesforce, enhancing data analytics and business insights.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:37 pm

AAPL

FTEC

IYW

MSFT

The DOJ has filed an antitrust lawsuit against Apple, which analysts believe will be a long process but ultimately not lead to significant changes in Apple's business model. Analysts from Wedbush, Morgan Stanley, and Evercore ISI maintain positive ratings on Apple, citing AI opportunities and the company's strong position despite the lawsuit. The case is part of broader antitrust efforts against Big Tech. Apple's stock has gained over 9% in the last 12 months, and exposure to Apple's stock can also be gained through FTEC and IYW ETFs.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 5:37 pm

AMZN

FDIS

XLY

Truist analyst Youssef Squali maintains a Buy rating on Amazon (AMZN) with a $195 price target, predicting revenue growth driven by AWS and retail sales. U.S. revenue is expected to exceed consensus, reaching $87.0 billion (+13% Y/Y) for the quarter. The first-ever U.S. Big Spring Sale is anticipated to boost demand. Total Q1 revenues are projected at $143.1 billion (+12.3% Y/Y), with AWS revenues at $24.5 billion (+14.5% Y/Y). Amazon's ads business is also expected to sustain above-market growth. AMZN shares rose 0.40% to $178.66. Exposure to AMZN can be gained through XLY and FDIS ETFs.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 5:24 pm

AAPL

Apple Inc. has decided to halt its internal project aimed at developing displays for its Watch products, leading to job cuts, as reported by Bloomberg. This move indicates a shift in the company's strategy regarding the manufacturing of critical components for its devices.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:08 pm

EADSY

RTX

Airbus SE has secured orders for 65 jets from two of Boeing Co's key Asian customers, Japan Airlines and Korean Air, marking a significant shift in the aviation market. This development highlights Airbus's growing influence in Asia and poses challenges for Boeing amidst its manufacturing crisis. The aviation community on Reddit has shown a keen interest in this shift, discussing the potential impacts on Boeing's market position and exploring investment opportunities in companies associated with Airbus, such as engine manufacturers Safran SA, Rolls-Royce Holdings PLC, General Electric Co, and RTX Corp.

Portfolio Pulse from Surbhi Jain

March 22, 2024 | 5:08 pm

HYMTF

Hyundai Motor Co., Ltd. (OTC:HYMTF) and Kia America have initiated a recall of 147,100 vehicles in the U.S. due to concerns with the Integrated Charging Control Unit (ICCU) that may stop charging the 12-volt battery, potentially leading to a loss of drive power and increasing crash risk. Hyundai is recalling 98,878 vehicles, including certain Ioniq and Genesis models, while Kia is recalling 48,232 vehicles, specifically certain EV6 models. This follows a September 2023 recall of over 3.3 million vehicles by both companies due to fire risks. HYMTF shares have fallen 5.76% to $56.51.

Portfolio Pulse from Lekha Gupta

March 22, 2024 | 4:48 pm

HPCO

ISPR

Ispire Technology Inc. (NASDAQ:ISPR), a company specializing in e-cigarettes and cannabis vaping products, announced a public offering of 2.05 million shares at $6 each, aiming to raise $12.3 million. The funds are intended for the establishment of a manufacturing facility in Malaysia, funding a joint venture, and general corporate purposes. The company's cannabis business has shown significant growth, with a 30.7% increase in revenue year-over-year. Ispire has partnerships with celebrities like Snoop Dogg and Burna Boy for product endorsements. Following the announcement, ISPR shares dropped 27.91% to $5.85. Hempacco Co., Inc. (NASDAQ:HPCO) also has a distribution agreement with Ispire's subsidiary.

Portfolio Pulse from Jelena Martinovic

March 22, 2024 | 4:23 pm