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AMGN

Amgen Inc (NASDAQ:AMGN) reported Q1 earnings with an adjusted EPS of $3.96, surpassing the consensus estimate of $3.87. Sales rose 22% Y/Y to $7.45 billion, beating estimates. The company forecasts full-year 2024 adjusted EPS of $19-$20.20, against a consensus of $19.48. Amgen is discontinuing AMG 786, an obesity drug candidate, to focus on MariTide, which is seen as a potential standout therapy. William Blair upgraded Amgen to Outperform, citing confidence in MariTide's efficacy and safety. Despite competition from Novo Nordisk and Eli Lilly, MariTide is expected to significantly impact Amgen's share prices positively.

Portfolio Pulse from Vandana Singh

May 03, 2024 | 3:24 pm

JNJ

Johnson & Johnson announced that its TAR-200 monotherapy has shown a greater than 80% complete response rate in patients with high-risk non-muscle-invasive bladder cancer. The Phase 2b Sunrise-1 study revealed that 98% of patients achieved a complete response within 12 weeks.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 3:20 pm

BTCUSD

Edward Snowden has expressed concerns over Bitcoin's privacy protocols following zkSNACKs' announcement to discontinue CoinJoin coordination service on Wasabi Wallet, which enhances transaction anonymity. Snowden emphasizes the need for privacy at the Bitcoin protocol level, marking this as a 'final warning'. The discontinuation of CoinJoin highlights challenges in balancing regulatory compliance with user privacy in the cryptocurrency world.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 3:03 pm

AAPL

AMGN

LLY

NVO

SPY

The stock market is poised for an upswing as wage growth slows, signaling potential for lower inflation and interest rate cuts. SPDR S&P 500 ETF Trust (SPY) reflects this optimism. Apple Inc's (AAPL) earnings were in line with expectations, but its largest buyback announcement and optimistic guidance are driving positive sentiment. Amgen Inc (AMGN) is up on promising drug data, affecting competitors Eli Lilly (LLY) and Novo Nordisk (NVO). Early trades show positive money flows in major tech stocks and ETFs like Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), Tesla (TSLA), and Invesco QQQ Trust (QQQ). Gold, oil, and Bitcoin also see buying interest.

Portfolio Pulse from The Arora Report

May 03, 2024 | 2:59 pm

CRWD

EBS

KIND

NIO

PLUG

Benzinga's Stock Whisper Index highlights NIO, EBS, PLUG, CRWD, and KIND as stocks to watch. NIO reported a significant increase in vehicle deliveries, EBS beat Q1 financial expectations and raised revenue guidance, PLUG announced new contracts and a safety certification, CRWD expanded its partnership with AWS, and KIND anticipates better-than-expected Q1 results.

Portfolio Pulse from Chris Katje

May 03, 2024 | 2:51 pm

CMG

Options market activity for Chipotle Mexican Grill (CMG) shows a mix of bullish and bearish sentiment among investors, with a notable volume of trades aiming for a price range between $2330 and $3700. Recent options trades include both calls and puts with varying sentiments and strike prices. Chipotle, the largest fast-casual chain in the US, is currently trading at $3155.82, with analysts giving mixed ratings and price targets ranging from $2700 to $3200.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 2:46 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares rose by 11.2% following the announcement of a memorandum of understanding with Allied Green Ammonia (AGA) for supplying up to 3GW of electrolyzer capacity for AGA's hydrogen-to-ammonia facility in Australia. The deal includes initiating a Basic Engineering and Design Package (BEDP) with a final investment decision expected in Q4 2025 and delivery starting Q1 2027. Additionally, Plug Power recently secured contracts to supply cryogenic equipment to a multinational industrial gas company and a statewide electric utility, and is finalizing another agreement with a leading industrial gas company.

Portfolio Pulse from Nabaparna Bhattacharya

May 03, 2024 | 2:45 pm

ETHUSD

Friend.Tech launched version 2 and a native token airdrop, facing a dramatic price crash and technical issues. The FRIEND token, trading on the Coinbase-supported Base network, spiked to $169 before falling below $1.30. Despite the initial excitement, technical problems and a 40% drop in locked crypto assets have marred the launch. The platform's new Money Club aims to enhance community engagement, but the overall sentiment is affected by the launch's challenges.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 2:22 pm

DIS

FOX

FUBO

IRBO

VERS

WBD

FuboTV Inc (NYSE:FUBO) reported fiscal Q1 2024 results with a 24% Y/Y sales increase to $402.4 million, surpassing analyst estimates. Adjusted EPS loss improved to $(0.11), beating expectations. The company saw significant growth in North America with a 24% revenue increase and an 18% rise in paid subscribers. FuboTV remains optimistic about its antitrust lawsuit against The Walt Disney Co (NYSE:DIS), FOX Corp (NASDAQ:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD). FuboTV's stock fluctuated, opening with a 10% premarket gain but closing down 5.16% at $1.46. The company's performance and legal confidence could impact its stock and those of DIS, FOX, and WBD. FUBO is also featured in ProShares Trust ProShares Metaverse ETF (NYSE:VERS) and IShares Robotics And Artificial Intelligence Multisector ETF (NYSE:IRBO).

Portfolio Pulse from Anusuya Lahiri

May 03, 2024 | 2:10 pm

CTRA

Coterra Energy announced during a conference call that they do not plan to bring any projects online in the Marcellus region during Q2, leading to lower gas volumes quarter-over-quarter before stabilizing in the second half of 2024. The company is currently operating with one rig and one reduced frac crew in the Marcellus, focusing on decelerating activity and reducing costs due to challenging near-term gas markets.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 2:07 pm