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META

SNAP

Meta Platforms (NASDAQ:META) reported Q4 earnings surpassing expectations with revenue and EPS ahead of estimates, announcing its first quarterly dividend. Analysts from Goldman Sachs, Guggenheim, Roth MKM, Wedbush, Truist Securities, and Oppenheimer raised their price targets, citing efficiency, advertising strength, and potential for long-term growth. The positive outlook for Meta also led to an upgrade for Snap Inc (NYSE:SNAP) by Guggenheim, highlighting Meta's advertising pricing power as a positive indicator for Snap.

Portfolio Pulse from Chris Katje

February 02, 2024 | 6:26 pm

AMZN

GOOG

MSFT

Amazon.com Inc (NASDAQ:AMZN) reported a strong fourth quarter with pre-tax earnings of $13.2 billion, surpassing analyst estimates due to a record holiday season and cost discipline. Revenue rose 14% to $170 billion, also beating forecasts. AWS saw a 13% year-over-year increase to $24.2 billion. Amazon's advertising revenue grew by 26%, and the company is expanding its AI capabilities, including launching Amazon Q and an AI shopping assistant. Microsoft Corporation (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG) also reported growth in their cloud services, with AI enhancements contributing to Microsoft's Azure revenue. Amazon plans to increase capital spending on AI infrastructure.

Portfolio Pulse from Upwallstreet

February 02, 2024 | 6:17 pm

ETHUSD

On Thursday, 4,642.37 Ether (ETH) worth approximately $10.66 million was burned, permanently removing it from circulation. This action is part of the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -3.54% yesterday.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 6:00 pm

TSX:NUMI

Numinus Wellness Inc. partners with Eight Capital in a $6 million bought deal to strengthen its financial position for future mental health initiatives, involving the purchase of 50,000,000 units. The deal, supported by MAPS and Integrated V.C., highlights growing interest in psychedelic-assisted therapy. The offering includes common shares and warrants, with an Over-Allotment Option, indicating a strategic approach to funding Numinus's expansion in mental health care and therapist training programs.

Portfolio Pulse from The Dales Report

February 02, 2024 | 5:58 pm

SNAP

SPOT

Spotify Technology (NYSE:SPOT) announced a new multiyear partnership deal with podcast host Joe Rogan, boosting its shares. The deal aims to retain Rogan's top-ranked podcast, aligning with Spotify's strategy shift towards broadening audience reach and advertising revenue. Spotify also expanded its music partnership with Snap Inc (NASDAQ:SNAP).

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 5:48 pm

GSK

NVAX

Novavax Inc announced that its R21/Matrix-M malaria vaccine, developed with the University of Oxford and Serum Institute of India, received WHO prequalification based on Phase 3 trial results published in The Lancet. The vaccine showed a 75% reduction in symptomatic malaria cases in seasonal transmission areas and 68% efficacy in perennial regions among children aged 5-36 months. Priced at approximately $3 per dose, it's considered more affordable and accessible than GSK Plc's vaccine, with 25 million doses already produced for the current year.

Portfolio Pulse from Vandana Singh

February 02, 2024 | 5:41 pm

INBS

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares surged by 104.15% to $4.90 due to an expected significant revenue increase. The company anticipates a 337% revenue growth for the six months ending Dec. 31, 2023, and a 114% increase for the second fiscal quarter. This growth is attributed to rising product sales, market expansion, and increased cartridge and reader sales. Additionally, a 1-for-12 reverse stock split was implemented to boost the per-share trading price.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 5:36 pm

LLY

Eli Lilly (NYSE:LLY) is preparing to announce its Q4 2023 financial results on February 6, with analysts expecting earnings of $2.19 per share and sales of $8.932 billion. Despite recent FDA scrutiny over manufacturing issues at its New Jersey plant, the company maintains a positive outlook with plans to expand its weight-loss drug Mounjaro. Cantor Fitzgerald reaffirmed an Overweight rating with a $630 price target. Shares rose 1.32% to $669.14.

Portfolio Pulse from Vandana Singh

February 02, 2024 | 5:29 pm

LFSWF

Lifeist Wellness Inc. (OTC:LFSWF) is divesting its cannabis business, CannMart Group, to 1463663 B.C. Ltd. for CA$5 million ($3.72 million) to focus on nutraceuticals. The deal includes cash, a vendor takeback loan, and share purchase warrants in Tierra Corp. This strategic shift aims to leverage the growing nutraceutical market, forecasted to reach $118.7 billion by 2028, while retaining the option to re-enter the cannabis space.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 5:15 pm

ADAUSD

BTCUSD

ETHUSD

SOLUSD

A report by K33 Research, led by DeFi analyst David Zimmerman, outlines crypto trading strategies post the Spot Bitcoin ETF approval, highlighting a shift in focus from Bitcoin to altcoins like Solana (SOL) for major gains. The report suggests buying opportunities may arise after a significant Bitcoin drop and emphasizes Solana's potential to outperform Ethereum based on on-chain activity. It also notes opportunities in shorting weak performers like Cardano (ADA) during Bitcoin rallies.

Portfolio Pulse from Khyathi Dalal

February 02, 2024 | 5:05 pm