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COIN

SARK

TARK

Coinbase (NASDAQ:COIN) shares hit a 3-year high as Bitcoin surpasses $72,000, driving renewed interest in crypto. COIN's recovery is attributed to exceeding earnings expectations and cost-cutting measures, leading to a nearly 60% increase in stock price. Goldman Sachs raised COIN's price target to $282. Cathie Wood's ARK Innovation ETF (NYSE:ARKK), where COIN is the largest holding, benefits from this surge. ARKK's leveraged counterpart, AXS 2X Innovation ETF (NASDAQ:TARK), and its inverse, AXS Short Innovation Daily ETF (NASDAQ:SARK), offer additional trading strategies.

Portfolio Pulse from Johnny Rice

March 12, 2024 | 2:10 pm

LUV

ORCL

February's CPI figures exceeded expectations, impacting market sentiment. Oracle (ORCL) saw a surge due to a positive outlook on its Gen2 AI infrastructure. Conversely, Southwest Airlines (LUV) experienced a decline after revising its fuel cost outlook upwards.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:05 pm

AMZN

GOOGL

MSFT

Executives and staff from major cloud providers including Microsoft, Amazon Web Services, and Google have indicated that customers are cautious about increasing spending on new AI services due to the high costs associated with running the software. This suggests a tempering of expectations around the adoption and financial impact of generative AI technologies in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:03 pm

NAAS

NaaS Technology Inc (NASDAQ:NAAS) has partnered with China Construction Third Engineering Bureau (CCTEB) to digitize and expand charging infrastructure. This strategic cooperation aims to integrate NaaS' digital operation expertise with CCTEB's construction capabilities, focusing on projects like PV-charging-storage integration and energy ports. The partnership is expected to enhance NaaS' engineering capabilities and the construction quality of charging facilities, leveraging CCTEB's technology expertise.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 1:59 pm

LCUT

Lifetime Brands Inc (NASDAQ:LCUT) reported a slight decline in Q4 2023 net sales by 1.9% Y/Y to $203.1 million, surpassing consensus estimates of $197.9 million. Despite a decrease in gross margin and adjusted EPS missing consensus, the company saw gains in its U.S. Kitchenware segment and declared a quarterly dividend of $0.0425 per share. CEO Rob Kay highlighted growth in e-commerce as a key opportunity.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 1:46 pm

GERN

FDA staff reviewers have expressed concerns about Geron's anemia drug Imetelstat, citing substantial risks associated with its treatment. They indicated that it's unclear if the benefits outweigh the risks for the intended population, and patient-reported outcomes do not support the treatment effect of Imetelstat.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:38 pm

ON

onsemi (NASDAQ:ON) announced the formation of the Analog and Mixed-Signal Group (AMG) to expand its product portfolio in automotive, industrial, and cloud markets. Led by Sudhir Gopalswamy, AMG aims to unlock a $19.3 billion market. Simon Keeton is promoted to president of the Power Solutions Group, which generated over $800 million in 2023. The reorganization aims to accelerate growth by focusing on power management, sensor interfaces, and communication products, positioning onsemi as a full suite provider.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:31 pm

ULCC

Frontier Airlines (NASDAQ:ULCC) has launched UpFront Plus, a new seating option offering extra space and comfort. This option guarantees an empty middle seat and is available in the first two rows, starting at $49 per upgrade. The service is for flights departing from April 10, 2024, with a booking window until March 20, 2024. UpFront Plus aims to provide passengers with more personal space and quick aircraft exit, enhancing the travel experience.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:17 pm

KSS

During a conference call, a Kohl's executive reported that in Q4, sales at Sephora locations within Kohl's stores increased by over 70%, and comparable sales growth was nearly 25%. Additionally, the partnership with Sephora will be expanded in 2024, with plans to open about 140 smaller-format shops.

Portfolio Pulse from Charles Gross

March 12, 2024 | 1:16 pm

SASI

Sigma Additive Solutions, Inc. (SASI) announced its corporate name change to NextTrip, Inc., effective March 13, 2024, following the acquisition of NextTrip Holdings, Inc. The company will start trading under the new ticker symbol 'NTRP' on the Nasdaq. This transition reflects its shift towards travel and travel media operations, leveraging partnerships with over 200 travel organizations and offering over 2 million hotels worldwide. NextTrip is preparing to launch its travel booking platform and a content ecosystem, including Compass.TV, to drive growth and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 1:15 pm