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DE

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U.S. stocks surged with the S&P 500 crossing 5,000 points, driven by strong corporate earnings and speculation of Fed rate cuts following disappointing retail sales. Small caps led gains, with the iShares Russell 2000 ETF up 1.4%. Commodities rose, with gold and crude oil prices increasing. Key ETFs like SPY, DIA, and QQQ showed varied performance. Sector-wise, energy stocks outperformed while technology lagged. Notable stock movements included Tesla's rise on regulatory optimism, Wells Fargo's gain after regulatory clearance, and mixed reactions to earnings reports from companies like CBRE, Deer & Company, and others.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 7:12 pm

MSAI

MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) announced the release of SmartIR 2.0, an advanced AI-powered software for predictive maintenance and process control in industrial settings. The new version features expanded sensor modalities, enhanced AI analytics, live multi-region temperature monitoring, extended sensor data capture, advanced computer vision tools, and expanded EAM integrations. These improvements aim to boost asset reliability, process control, and employee safety across various industries.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:09 pm

GLUE

RHHBY

Wedbush initiated coverage on Monte Rosa Therapeutics Inc (NASDAQ:GLUE) with an Outperform rating and a price target of $11, highlighting the company's AI/ML-based QuEEN platform and its lead asset, MRT-2359, for cancer and autoimmune diseases. Monte Rosa's strategic collaboration with Roche Holdings AG (OTC:RHHBY) could bring in over $2 billion in milestone payments plus royalties. GLUE shares rose 14.29% to $5.44.

Portfolio Pulse from Vandana Singh

February 15, 2024 | 7:05 pm

CNVS

Cineverse Corp. (NASDAQ:CNVS) shares dropped 25.5% to $1.75 after launching Cineverse 360, a new ad platform, and reporting Q3 results with revenues of $13.276 million missing the consensus of $13.355 million. The company's shares have lost over 80% in the last year. Cineverse also announced cineSearch, an AI-powered movie search platform, set for a public beta in Spring 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:30 pm

MSFT

OpenAI announced the development of tools aimed at detecting misleading content, including a detection classifier specifically designed to identify videos generated by Sora. This initiative is part of OpenAI's efforts to combat the spread of misinformation and enhance content authenticity. Microsoft (MSFT), a key partner and investor in OpenAI, may see implications from this development.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:21 pm

STLA

During the Wolfe Research Conference Call, a Stellantis executive stated that the redesigned Ram trucks are expected to sustain their pricing power. This indicates a positive outlook for the company's product competitiveness and potential revenue generation from this line.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:18 pm

LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares rose over 3% after announcing new pricing for its Lucid Air Pure and Air Touring models, along with a $1,000 charging allowance for customers. The price adjustments make the Air Pure and Air Touring more affordable, with the former now starting at $69,900 and the latter at $77,900. This move comes as Lucid's shares have fallen over 40% in the last six months, a steeper decline than Tesla, Inc. (NASDAQ:TSLA). Additionally, Lucid faces scrutiny from the National Highway Traffic Safety Administration (NHTSA) over a recall remedy for its Air Sedans, with concerns that the software update for the high voltage coolant heater may not be sufficient. Lucid is set to report its Q4 2023 financial results on February 21, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:03 pm

AMGN

Financial giants have shown a bearish stance on Amgen (NASDAQ:AMGN) through options trading, with 83% of trades being bearish. The trading activity focuses on a price range between $125.0 and $292.5. Amgen, a leader in biotechnology-based human therapeutics, has seen its stock price slightly decrease by -0.68%, currently at $288.1. Analysts have mixed ratings on AMGN, with target prices ranging from $278 to $350. The next earnings report is expected in 70 days.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 6:00 pm

ETHUSD

On Wednesday, 5,630.24 Ether (ETH) worth approximately $15.9 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, 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 -5.01% yesterday.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 6:00 pm

SAGE

Sage Therapeutics, Inc. (NASDAQ:SAGE) reported Q4 revenue surpassing expectations at $77.97 million against estimates of $60.98 million. The company highlighted the successful launch of ZURZUVAE for postpartum depression. Following the results, RBC Capital and HC Wainwright & Co. raised their price targets for SAGE, despite a slight 0.2% drop in its shares to $25.71.

Portfolio Pulse from Avi Kapoor

February 15, 2024 | 5:59 pm