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GOOG

GOOGL

Google has partnered with TikTok to enable streaming of TikTok videos from phones to TVs. This collaboration integrates TikTok's mobile platform with Google's streaming technology, potentially increasing user engagement on both platforms.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:01 pm

ETHUSD

On Monday, 5,068.77 Ether (ETH) valued at approximately $11.48 million was burned due to the EIP-1159 upgrade implemented on the Ethereum blockchain, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -4.30% for Ether, indicating a deflationary trend, especially with the anticipated Ethereum 2.0 upgrade that could further reduce the issuance rate to 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 6:00 pm

SRPT

Sarepta Therapeutics Inc (NASDAQ:SRPT) reported preliminary FY23 net product revenue of $1.145 billion, with Q4 Elevidys revenue at $131.3 million and FY23 at $200.4 million, surpassing consensus. RNA-based PMOs revenue for Q4 and FY23 are expected at $234.3 million and $945.0 million, respectively. The company has $1.7 billion in cash and investments. Wedbush maintains an Outperform rating on SRPT with a price target of $224, citing significant patient demand for Elevidys and potential label expansion for Duchenne muscular dystrophy treatment. SRPT shares rose 9.77% to $112.64.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 5:58 pm

NVO

Novo Nordisk's CEO anticipates a substantial increase in WEGOVY volumes in 2024. This expectation is based on the company's confidence in the product's market demand and potential growth. WEGOVY is a medication designed for weight management, and its increased volumes could signal a positive outlook for Novo Nordisk's revenue and market share in the weight management sector.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:54 pm

ARKK

RXRX

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) stock has risen over 80% in the past month and is one of today's biggest movers after unveiling its new software, LOWE, at the J.P. Morgan Healthcare Conference. LOWE is designed to perform complex drug discovery tasks using a natural language interface. Additionally, Recursion recently in-licensed a new chemical entity from Bayer AG for fibrosis treatment and was added to the ARK Innovation ETF (NYSE:ARKK) portfolio.

Portfolio Pulse from Erica Kollmann

January 09, 2024 | 5:54 pm

QCOM

Qualcomm's CEO has announced that the company is ahead of its revenue targets in the automotive sector. This positive development indicates that Qualcomm is making significant strides in expanding its business beyond its traditional stronghold in smartphone chips.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:50 pm

AMZN

GOOGL

MSFT

NFLX

Despite their significant presence in technology, Amazon (AMZN) and Alphabet (GOOGL) have not been major players in the gaming industry. However, their substantial investments in AI could change this. BMO Capital Markets analyst Brian Pitz suggests that M&A is the most viable strategy for these companies to enter the gaming market at scale. He also notes the potential of generative AI in game development. Amazon's Game Studios and Alphabet's Google Stadia have not been successful, while Netflix (NFLX) has seen moderate success with its gaming initiatives. Microsoft's (MSFT) acquisition of Activision is seen as a sign that gaming companies are potential M&A targets.

Portfolio Pulse from Neil Dennis

January 09, 2024 | 5:48 pm

VRTX

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) has received approval from the Saudi Food and Drug Authority (SFDA) for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). This marks the first SFDA Breakthrough Designation and approval through this pathway, as well as Vertex's first regulatory approval in Saudi Arabia. Vertex is working to expand access to CASGEVY in Saudi Arabia by qualifying additional hospitals as Authorized Treatment Centers and securing hospital formulary listings for reimbursement.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:44 pm

AAPL

IBM

INTC

META

MU

QCOM

TSLA

TSM

Samsung Electronics topped the U.S. patent recipient list for 2023 with 6,165 patents, followed by Qualcomm, TSMC, and IBM. Apple, Micron, and Intel were also in the top 10, while Meta and Tesla were notably absent. The patent landscape shows growth in autonomous driving, electrical smoking devices, quantum computing, breathing masks, and nanotechnology. U.S. patents issued decreased by 3.4% in 2023, with U.S. companies securing nearly half of all patents. Japan and South Korea are also significant recipients, despite declines.

Portfolio Pulse from Surbhi Jain

January 09, 2024 | 5:40 pm

BTCUSD

SEC Chair Gary Gensler and Lori Schock warn investors about the risks of crypto assets, emphasizing the lack of regulatory oversight, potential for fraud, and the dangers of celebrity endorsements. Despite the crypto community's criticism and anticipation of a spot Bitcoin ETF, the SEC urges caution and responsible investing.

Portfolio Pulse from Murtuza Merchant

January 09, 2024 | 5:34 pm