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AAPL

QCOM

Piper Sandler analyst Harsh V. Kumar reaffirmed an Overweight rating on Qualcomm Inc (QCOM) with a $165 price target, highlighting its growth in IoT and automotive sectors. Qualcomm's IoT revenues are expected to rise, with potential quarterly revenues of $1.5 billion+ in the future. The automotive segment is projected to reach $3 billion in annual revenues by fiscal 2025. Qualcomm also secured 100% of the iPhone 15 modem share for 2023 and a 3-year deal with Apple, assuming a 20% share in the 2026 iPhone release. Despite current trading at a ~15x P/E multiple, Kumar suggests Qualcomm should trade at a premium (18x-20x P/E) due to its diversification and growth prospects.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 8:57 pm

ARM

NVDA

SMCI

Retail investors on Reddit's r/WallStreetBets are focusing on chip stocks, particularly Nvidia Corporation (NVDA), Arm Holdings Plc (ARM), and Super Micro Computer, Inc. (SMCI), due to their potential in AI technologies. Nvidia remains a favorite with significant gains over the past year and high expectations for its upcoming earnings report. Arm Holdings, after a substantial rise, is seen as an affordable alternative to Nvidia. Super Micro Computer is under scrutiny for its recent gains and high short interest.

Portfolio Pulse from Erica Kollmann

February 13, 2024 | 8:57 pm

INNPF

Innocan Pharma Corporation reported a 433% year-over-year revenue increase for fiscal 2023, totaling $13.6 million. This growth is attributed to strong sales from its subsidiary, B.I. Sky Global Ltd. Innocan is also pursuing FDA approval for its human pharmaceutical applications, with pre-investigational new drug applications expected to be submitted soon. The company's LPT platform, which involves injectable CBD encapsulated in liposomes, has shown promising results in pre-clinical trials for chronic pain and drug-resistant epileptic seizures.

Portfolio Pulse from Jelena Martinovic

February 13, 2024 | 8:22 pm

VZIO

WMT

Walmart is currently in discussions to acquire TV manufacturer Vizio, as reported by the Wall Street Journal. This move could significantly expand Walmart's electronics offerings and potentially increase its competitiveness in the retail sector.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:09 pm

BONKUSD

DOGEUSD

PEPEUSD

SHIBUSD

Bonk and Pepe, two meme coins, have seen significant weekly gains of 23.5% and 17.6% respectively, outperforming Dogecoin and Shiba Inu. The rally is attributed to Bitcoin's surge to $50,000. Bitstamp's listing of Pepe and bullish social media analysis further spotlight these coins. Despite their popularity, meme coins on the Solana network, like Bonk and Pepe, face volatility due to profit-taking. Dogwifhat, another Solana meme coin, has also seen an 80% weekly gain.

Portfolio Pulse from Khyathi Dalal

February 13, 2024 | 7:21 pm

TSLA

Tesla Inc (TSLA) is under scrutiny after Hans von Ohain, a Tesla recruiter, died in a crash involving the company's full self-driving feature. Despite high blood alcohol levels, the incident raises questions about the safety and reliability of Tesla's autonomous driving technology. The accident, which Tesla reported to the NHTSA, has not been publicly acknowledged by the company. Over 900 accidents involving Tesla's driver-assistance systems have been reported since 2021, highlighting ongoing safety concerns.

Portfolio Pulse from Chris Katje

February 13, 2024 | 7:11 pm

ALT

LLY

NVO

Altimmune, Inc (NASDAQ:ALT) shares dropped after Kerrisdale Capital announced a short position, criticizing the potential of Altimmune's drug pemvidutide compared to competitors like Novo Nordisk's Ozempic and Eli Lilly's Mounjaro. Kerrisdale highlighted concerns over pemvidutide's efficacy, tolerability, and the challenging competitive landscape.

Portfolio Pulse from Adam Eckert

February 13, 2024 | 7:05 pm

CBAY

GILD

ICPT

Gilead Sciences Inc (GILD) has agreed to acquire CymaBay Therapeutics Inc (CBAY) for $4.3 billion, aiming to enhance its liver disease portfolio with CymaBay's seladelpar for primary biliary cholangitis (PBC). Despite the acquisition not being a major game-changer for Gilead, it's seen as a low-risk move that leverages Gilead's strong commercial capabilities in liver diseases. Seladelpar's potential in addressing pruritus could differentiate it in the PBC market. Baird maintains a Neutral rating on GILD with an $80 price target.

Portfolio Pulse from Vandana Singh

February 13, 2024 | 7:05 pm

DIS

PENN

WYNN

PENN Entertainment acquired a New York mobile sports wagering license from Wynn Interactive for $25 million, aiming to launch ESPN Bet in New York in 2024. This move is part of a strategy to expand ESPN Bet, rebranded from Barstool Sportsbook, across the U.S. with a licensing agreement with Disney. The New York sports betting market, the largest in North America, saw record revenues, with FanDuel, DraftKings, Caesars Entertainment, and BetMGM leading in January.

Portfolio Pulse from Chris Katje

February 13, 2024 | 6:35 pm

GTHX

G1 Therapeutics shares are trading lower following an interim update on the Phase 3 PRESERVE 2 trial of trilaciclib for treating metastatic triple-negative breast cancer.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 6:34 pm