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ETH-USD

On Sunday, 5,933.58 Ether (ETH) worth approximately $15.48 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade implemented 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 -5.53% yesterday.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 6:00 pm

HSY

Morgan Stanley analyst Pamela Kaufman downgraded The Hershey Co (NYSE:HSY) to Underweight from Equal-Weight with a reduced price target of $183 from $191, citing concerns over cocoa inflation, pricing environment, and consumer demand. Despite a slight sales increase in Q4 fiscal 2023, Hershey's sales missed consensus, and its 2025 EPS estimate was lowered due to expected input cost inflation and gross margin contraction.

Portfolio Pulse from Lekha Gupta

February 12, 2024 | 5:48 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares rose after announcing the delivery of several liquid hydrogen portable refuelers to transit agencies and trucking fleet customers. The HL-450D-P hydrogen refueling stations are designed to reduce infrastructure costs and deployment time for hydrogen-powered commercial vehicles. Plug Power's CEO, Andy Marsh, highlighted the innovation and cost-effectiveness of the portable refueler product for sectors like transportation.

Portfolio Pulse from Erica Kollmann

February 12, 2024 | 5:38 pm

DIS

NFLX

Disney (NYSE:DIS) reported improved earnings, narrowing streaming losses and lifting guidance, but still faces challenges in the entertainment sector. Shares rose 7% in extended trading. Disney announced a collaboration with Epic Games to create a gaming universe and will acquire a $1.5 billion equity stake in Epic Games. Disney also plans to focus on live sports streaming, with the launch of ESPN streaming service in 2025. Despite flat revenue of $23.55 billion for the quarter, net income rose to $1.91 billion. Netflix (NASDAQ:NFLX) increased its gaming presence and reported a significant subscriber growth, ending 2023 with 260.3 million subscribers and a 12% YoY revenue growth.

Portfolio Pulse from Upwallstreet

February 12, 2024 | 5:35 pm

TAK

The FDA has approved Takeda Pharmaceutical Co Ltd's Eohilia, the first oral treatment for eosinophilic esophagitis (EoE) for patients aged 11 and older. Eohilia demonstrated significant efficacy in achieving histologic remission and improving swallowing difficulties in two studies compared to placebo. It will be available in 2 mg/10 mL single-dose stick packs by the end of February. Takeda's shares saw a slight increase of 0.25% to $14.27 following the announcement.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 5:17 pm

MSFT

Microsoft Gaming CEO Phil Spencer reassured Xbox employees in a recent meeting that the company will continue producing Xbox consoles, countering rumors of a shift away from console manufacturing. This statement comes amid concerns following recent layoffs and ahead of a business update event. Spencer's comments also address speculation about Xbox's future strategy and potential shifts towards multi-platform gaming.

Portfolio Pulse from Franca Quarneti

February 12, 2024 | 5:14 pm

GOLD

IVPAF

The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.

Portfolio Pulse from Matt Whittaker

February 12, 2024 | 5:09 pm

AMZN

MSFT

NVDA

Microsoft's Azure is rapidly closing the gap with Amazon's AWS, growing from half to three-quarters the size of AWS in five years. Analysts predict Azure's revenue could reach $95 billion in two years, potentially shifting investor optimism towards Microsoft's cloud segments. Microsoft now boasts 53,000 Azure AI customers, leveraging its early lead in AI. In response, AWS has expanded its offerings, including partnerships with Anthropic and a focus on Nvidia chips for compute instances. Microsoft's cloud infrastructure now accounts for 29% of its revenue and 46% of its total operating income, with significant improvements in gross margin.

Portfolio Pulse from Anusuya Lahiri

February 12, 2024 | 5:08 pm

BAX

Barclays has reaffirmed its Overweight rating on Baxter Intl (NYSE:BAX) and increased its price target from $52.00 to $54.00. Baxter Intl's shares are currently trading at $39.55, and the new price target suggests a potential upside of 36.54%. Baxter, known for its medical instruments and supplies, acquired Hillrom in 2021, enhancing its hospital-focused offerings. The company plans to spin off its kidney failure treatment operations by mid-2024.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 5:00 pm

RXST

Stifel has reaffirmed its Buy rating on RxSight (NASDAQ:RXST) and increased its price target from $45.00 to $54.00. RxSight, a medical technology company focused on improving vision post-cataract surgery, is currently trading at $49.77. The new price target suggests an 8.5% potential upside. Analyst ratings are crucial for investors, offering insights into stock performance based on detailed research and analysis.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 5:00 pm