Streetbeat News

Products Services

NVDA

PANW

Palo Alto Networks' stock is up following the announcement of a new private 5G security solution developed in partnership with Nvidia and others. Additionally, a filing revealed that Rep. Pelosi purchased call options in the company.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:59 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher, up 48% in the past month, driven by a rally in Bitcoin following the approval of several spot Bitcoin ETFs and anticipation of the next Bitcoin halving event. Coinbase reported massive Bitcoin outflows last week, with the exchange holding 390,000 Bitcoins. The article also discusses a long-term forecast for COIN, noting its annualized stock performance over the past 5 years is -12.75%, with a potential future price of $93.82 based on trend analysis.

Portfolio Pulse from Erica Kollmann

February 26, 2024 | 5:50 pm

ITA

The U.S. military has confirmed the use of AI, specifically computer vision, in identifying targets for air strikes in the Middle East, highlighting the technology's role in enhancing precision in combat operations. This development is part of Project Maven, aimed at integrating AI across defense operations, with human oversight ensuring ethical standards. The iShares U.S. Aerospace & Defense ETF (ITA) saw a 0.5% increase to $127, potentially reaching a record-high close.

Portfolio Pulse from Piero Cingari

February 26, 2024 | 5:45 pm

ACI

Kroger announced that following the merger with Albertsons, customers will benefit from lower prices and more choices. The company is committed to investing $500 million to reduce prices immediately after the merger closes, and an additional $1.3 billion to enhance Albertsons Cos.' stores.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:42 pm

ARM

INTC

NVDA

Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on Arm Holdings Plc (NASDAQ:ARM), raising the price target from $140 to $180, citing strategic shifts towards AI and increased royalties. Mosesmann forecasts double-digit royalty rates by the end of the decade, with ARM's technology becoming indispensable in AI, similar to Nvidia in GPUs. The move to the new v9 architecture and the computing subsystem (CSS) program are highlighted as key drivers. Additionally, Arm's partnership with Intel Corp (NASDAQ:INTC) for future process node support was noted, emphasizing Arm's critical role in the industry.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 5:40 pm

NTDOY

Nintendo ADR (OTC:NTDOY) has delayed the release of the Nintendo Switch 2 until March 2025 to secure initial stock and a lineup of popular software, including measures to prevent resale. The new console is expected to feature hybrid functionality with a larger screen and higher-definition image quality. Despite a slight decline in sales, the original Switch has sold 139.36 million units and has 122 million recorded players in 2023.

Portfolio Pulse from Franca Quarneti

February 26, 2024 | 5:24 pm

GOOGL

JPM

MSFT

SPY

In a CNBC interview, Jamie Dimon, CEO of JP Morgan, expressed significant optimism about the future of AI, indicating potential strategic directions for JP Morgan and possibly influencing the broader market's view on AI investments.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:21 pm

EZFL

EzFill Holdings, Inc. (NASDAQ:EZFL) announced the launch of an enhanced EzFleet portal and new features in its consumer application, aimed at improving fuel management for businesses and consumers. The EzFleet portal offers automation tools for fleet and construction equipment fuel management, while the consumer app now includes features for ordering fuel for in-home generators, VIP discounts, and rewards points. The company has onboarded 6,822 assets across 318 locations and received positive feedback from major construction equipment rental companies.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:16 pm

CRSP

REGN

SRPT

VRTX

In 2023, the median annual list price for new drugs in the U.S. reached $300,000, a 35% increase from 2022, with a focus on rare diseases. Regeneron's Veopoz was the most expensive at $1.8 million annually. Gene therapies ranged from $2.2 million to $3.2 million. Over half of the FDA-approved drugs targeted orphan diseases. Concerns were raised about the lack of clear rationale behind these escalating prices.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 5:14 pm

NVO

Neomorph and Novo Nordisk have entered into a collaboration to discover, develop, and commercialize molecular glue degraders for cardiometabolic and rare diseases, with a potential deal value of $1.46B. This partnership combines Neomorph's molecular glue discovery platform with Novo Nordisk's expertise in these diseases. Neomorph will lead discovery and preclinical activities, while Novo Nordisk has rights for further development and commercialization.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:13 pm