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APTV

Morgan Stanley downgraded Aptiv PLC (NYSE:APTV) to Underweight from Equal-Weight and lowered its price target to $74 from $90, following Aptiv's Q4 FY23 results. The company reported a 6% year-over-year net sales growth to $4.92 billion, missing the consensus of $5.07 billion, but its adjusted EPS of $1.40 beat the consensus of $1.33. Aptiv's FY24 net sales forecast is $21.3 billion-$21.9 billion versus the consensus of $21.61 billion, with adjusted EPS of $5.55 – $6.05 against the consensus of $5.78. The downgrade reflects concerns over slowing EV demand and OEMs' willingness to produce them, impacting Aptiv's growth-over-market assumption.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 7:08 pm

SHIBUSD

Despite a 6.7% loss in January, Shiba Inu (SHIB) shows signs of positive development with a surge in large transactions and steady adoption. The ecosystem awaits the Ryoshi network launch, expected to enhance SHIB's utility. The Shiba Inu community remains optimistic, with analysts predicting a price upswing amid increased trading volume and potential for future projects to adopt SHIB as their native token.

Portfolio Pulse from Khyathi Dalal

February 07, 2024 | 7:07 pm

AAPL

SSNGY

Apple Inc (NASDAQ:AAPL) is reportedly working on prototypes for a foldable iPhone, a significant design shift from its traditional models. According to The Information, these prototypes fold widthwise, resembling a clamshell. Although a launch date is speculative, it's suggested that if a foldable iPhone is released, it would not be before 2025. This development comes as competitors like Samsung Electronics (OTC:SSNGY) have already introduced foldable smartphones into the market.

Portfolio Pulse from Chris Katje

February 07, 2024 | 6:42 pm

BMRA

Biomerica, Inc. (BMRA) has been granted a European patent (EP3449254) for its compositions, devices, and methods related to Crohn's disease sensitivity testing. This development could enhance Biomerica's position in the European market by offering innovative solutions for Crohn's disease management.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 6:37 pm

BTCUSD

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, criticized Bitcoin's utility as a currency and its effectiveness as an inflation hedge, comparing it to speculative investments like Beanie Babies. He shared concerns over Americans potentially making poor investment choices based on Bitcoin's promotion. In contrast, Troy Cross from the Bitcoin Policy Institute defended Bitcoin's real-world utility, citing personal experiences of purchasing goods and services with it.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 6:09 pm

MSFT

Phil Spencer, head of Xbox, announced a business update event for next week to share details about Xbox's future vision, amidst rumors of Xbox titles being ported to other platforms like PlayStation 5. This move suggests a shift towards multi-platform gaming and a device-agnostic approach, potentially impacting Microsoft Corp.'s strategy by emphasizing accessibility and revenue diversification.

Portfolio Pulse from Franca Quarneti

February 07, 2024 | 6:08 pm

ETHUSD

On Tuesday, 7,690.44 Ether (ETH) worth $18,528,199 was burned, permanently removing it from circulation. This action follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned, reducing Ether's supply. The current issuance rate of new Ether is 4% per year, 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 -8.41% yesterday.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:00 pm

RGNX

REGENXBIO Inc (NASDAQ:RGNX) reported positive interim results from the Phase 1/2 AFFINITY DUCHENNE trial of RGX-202 for Duchenne muscular dystrophy and from the Phase 1/2/3 CAMPSIITE trial of RGX-121 for Mucopolysaccharidosis Type II (MPS II). RGX-202 showed no serious adverse events and significant microdystrophin expression and CK level reduction, indicating potential clinical improvement. RGX-121 met its primary endpoint with significant reductions in a key biomarker of brain disease activity in MPS II patients. REGENXBIO plans pivotal trials and FDA marketing applications for both treatments in 2024. RGNX shares surged 11.80% to $14.89.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 5:59 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

FCX

Freeport-McMoRan (NYSE:FCX) announced Kathleen L. Quirk as its new CEO, effective June 11. Quirk, with the company since 1989 and previously CFO and President, succeeds Richard Adkerson, who remains Chairman. The leadership transition is part of a strategic plan, with Quirk's extensive experience expected to continue Freeport's successful trajectory in the mining industry. The company anticipates $5.8 billion in operating cash flows in 2024, with significant sales volumes of copper, gold, and molybdenum.

Portfolio Pulse from Stjepan Kalinic

February 07, 2024 | 5:23 pm