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CMPS

Psilocybin, a substance found in certain mushrooms, is currently a Schedule I substance under the U.S. Controlled Substances Act, indicating a high potential for abuse and no accepted medical use. Despite this, scientific evidence is growing in support of its benefits for treating various health conditions, leading to clinical trials by companies like COMPASS Pathways (NASDAQ:CMPS). The psychedelic drugs market is predicted to reach $6.4 billion by 2034. Oregon and Colorado have decriminalized the use, possession, and gifting of psilocybin mushrooms, with both states also legalizing medical provision. Other states and localities have passed decriminalization measures, but commercialization remains largely prohibited, except through specific exemptions like religious use.

Portfolio Pulse from Lara Goldstein

February 02, 2024 | 2:49 pm

META

NVDA

TSM

Meta Platforms Inc is integrating its custom AI chip, aiming to reduce reliance on Nvidia Corp and cut costs. This move is part of a broader trend among tech giants like Alphabet Inc, Microsoft Corp, and Amazon.Com Inc towards custom chips. Meta's AI investments are expected to save on energy and chip purchasing expenses, enhancing efficiency in its platforms like Facebook, Instagram, and WhatsApp. Nvidia's supplier, Taiwan Semiconductor Manufacturing Company Ltd, is expanding due to AI demand.

Portfolio Pulse from Anusuya Lahiri

February 02, 2024 | 2:48 pm

AAPL

AMZN

GOOGL

META

PUB

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin remain strong amid US banking concerns. US charges individuals in a $400M hack, and arrests are made related to BTC-e for money laundering. Apple's Q1 results lead to a pre-market drop, while Meta's stock surges 16% premarket. Investor optimism boosts the Dow by over 350 points. Global demand for AI infrastructure is highlighted by Nvidia's CEO. Amazon continues layoffs despite profits, and Google expands AI features globally. Tesla recalls Cybertrucks, and GM focuses on EV production. Publicis settles in opioid marketing case, and commercial real estate issues affect regional banking stocks.

Portfolio Pulse from Akanksha Bakshi

February 02, 2024 | 2:39 pm

AMD

GOOG

MSFT

NVDA

Nvidia's RTX 4090 graphics cards are in high demand across Asia, especially in Taiwan, due to U.S. export controls aimed at curbing China's AI advancements. Nvidia is also taking pre-orders for its H20 AI chip, designed for the Chinese market, to compete with Huawei's offerings. The company's sales doubled last fiscal year, with significant investments from clients like Microsoft and Alphabet. Despite U.S. restrictions on chip exports to China, demand for Nvidia's products remains strong. Nvidia stock gained over 190% last year, outperforming broader indexes, with AMD also benefiting as a significant AI player.

Portfolio Pulse from Anusuya Lahiri

February 02, 2024 | 2:37 pm

GTBIF

New York's cannabis program faces criticism for its slow rollout and operational hurdles, notably affecting Candice LoPizzo's Bud & Honey due to proximity issues with a Green Thumb Industries (OTC:GTBIF) dispensary. Virginia considers aligning cannabis penalties with alcohol, sparking debate. Kentucky's HB 420 bill for cannabis legalization faces GOP opposition. Florida and Hawaii are reviewing cannabis legislation, with concerns over patient access and social justice. Benzinga Cannabis Conferences are set for Los Angeles, focusing on industry growth and innovation.

Portfolio Pulse from Nicolás Jose Rodriguez

February 02, 2024 | 2:32 pm

PXD

XOM

Exxon Mobil Corp (NYSE:XOM) exceeded Q4 FY23 earnings expectations with a net profit of $9.96 billion, despite a revenue decline to $84.34 billion from $95.43 billion, missing estimates. The company announced significant ventures, including the acquisition of Pioneer Natural Resources Co (NYSE:PXD) and the launch of Mobil Lithium for EV supply. Exxon also declared a Q1 dividend increase, continuing its 41-year streak of annual dividend growth.

Portfolio Pulse from Lekha Gupta

February 02, 2024 | 2:04 pm

BABA

MSFT

TCEHY

Alibaba Group Holding Limited (NYSE:BABA) and Tencent Holdings Ltd (OTC:TCEHY) are competing in the cloud computing market by offering server plans for 'Palworld,' a game developed by Pocketpair that sold over 8 million copies in less than six days. Despite Steam's inaccessibility in China, 'Palworld' has gained popularity there, accessible via VPNs and on Microsoft Corp's (NASDAQ:MSFT) Xbox. This competition highlights the intense rivalry between Alibaba and Tencent in China's cloud market.

Portfolio Pulse from Anusuya Lahiri

February 02, 2024 | 1:58 pm

AVBP

CLF

KALV

VERA

Insiders at Vera Therapeutics, ArriVent BioPharma, KalVista Pharmaceuticals, and Cleveland-Cliffs have made significant stock purchases, indicating potential confidence in their companies' futures. Vera Therapeutics and ArriVent BioPharma both priced their public and initial public offerings, respectively. KalVista Pharmaceuticals published promising pharmacology data, while Cleveland-Cliffs reported a slight quarterly loss.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:56 pm

AMD

AVGO

META

MSFT

NFLX

NVDA

TSLA

TSM

The stock market has transitioned from the FAANG era (Facebook/Meta, Apple, Amazon, Netflix, Google/Alphabet) to the Mag7 (Tesla, NVIDIA, Apple, Google, Meta, Amazon, Microsoft) and now to the AI5 era, focusing on top AI stocks (Microsoft, TSMC, Broadcom, Nvidia, AMD). Each era reflects the changing dynamics and technological advancements in the industry, with AI5 highlighting companies at the forefront of artificial intelligence development.

Portfolio Pulse from Surbhi Jain

February 02, 2024 | 1:50 pm

FANG

META

PYPL

SNAP

TSM

UBER

On CNBC's 'Halftime Report Final Trades,' experts highlighted their picks ahead of tech earnings. Josh Brown focused on Uber Technologies, anticipating its results. Bryn Talkington recommended Diamondback Energy, noting a recent analyst adjustment. Steve Weiss favored Taiwan Semiconductor Manufacturing, mentioning its expansion plans. Sarat Sethi chose Meta Platforms, highlighting its strong quarterly results and financial moves. The article also provided recent price actions for these companies and others mentioned.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 1:39 pm