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REGN

TSVT

2seventy Bio has announced that it will concentrate solely on the commercialization and development of its cancer treatment, Abecma, and is selling its research and development pipeline to Regeneron Pharmaceuticals. This strategic move is aimed at focusing the company's resources on Abecma, which is a significant product in its portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:15 pm

NVDA

SSNLF

Nvidia Corp (NVDA) is negotiating with SK Hynix for High Bandwidth Memory (HBM) for Q1 2025, following a previous agreement with Samsung Electronics (SSNLF) for HBM3 to meet AI demand. Nvidia secured 2024 HBM supply with billion-dollar payments to SK Hynix and Micron Technology (MU). Additionally, Nvidia invested in AI chatbot developer Kore.ai's $150 million funding round, continuing its focus on AI startups that use its chips. Kore.ai, which is planning an IPO, has experienced triple-digit revenue growth and manages 450 million daily interactions. NVDA shares were up 0.44% at $627.82.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 5:12 pm

AGFY

CALX

JBLU

PXLW

SANM

SIDU

SXTP

JetBlue Airways Corp (NASDAQ:JBLU) shares fell over 5% after reporting Q4 FY23 results with a decline in operating revenue by 3.7% Y/Y to $2.33 billion, beating estimates but with an adjusted loss per share of 19 cents. The company anticipates a revenue decline in Q1 FY24. Other stocks mentioned include Pixelworks, Inc. (NASDAQ:PXLW), Agrify Corporation (NASDAQ:AGFY), Sanmina Corporation (NASDAQ:SANM), Sidus Space, Inc. (NASDAQ:SIDU), 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP), and Calix, Inc. (NYSE:CALX), which experienced significant price movements after various announcements. Crude oil gained 1%, and U.S. stocks traded mostly lower with the Nasdaq Composite down over 50 points.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 5:08 pm

AAPL

Apple Inc's Vision Pro AR headset is set to launch this Friday with pre-order sales indicating strong demand. Analyst Ming-Chi Kuo estimates 160,000 to 180,000 units sold during pre-orders and projects 500,000 units sold this year. Despite a slower uptake compared to iPhones, Apple's supply chain has ramped up production. Wedbush analyst Daniel Ives predicts over 600,000 Vision Pro sales in 2024 and anticipates a growing app ecosystem. Wedbush maintains an Outperform rating on Apple stock with a $250 price target.

Portfolio Pulse from Surbhi Jain

January 30, 2024 | 4:54 pm

SQNXF

THQQF

Embracer Group AB has canceled a Deus Ex game in development and laid off 97 staff at Eidos Montreal. The studio will shift focus to an original franchise. This is part of a larger restructuring at Embracer, which has also affected other studios such as Volition and Free Radical Design. The layoffs and cancellations follow a failed $2 billion deal with Savvy Games Group. Embracer acquired Eidos Montreal from Square Enix Holdings in 2022 but has not commented on the Deus Ex cancellation.

Portfolio Pulse from Franca Quarneti

January 30, 2024 | 4:43 pm

KURA

Kura Oncology, Inc. (NASDAQ:KURA) stock rose after reporting a 100% complete remission rate in the first 20 patients of its Komet-007 Phase 1 trial for ziftomenib. The positive preliminary clinical data, combined with a high short interest of 12.57% and heavy trading volume, are driving the stock's performance. The average 1-year price target for KURA is $31.67, with bullish analyst ratings and a street high target of $37 from Wedbush.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 4:15 pm

RVSN

Rail Vision (NASDAQ:RVSN) stock surged over 40% after announcing the implementation of new AI technology in its Main Line and Switch Yard systems. The company's stock has risen over 1000% in the past month, fueled by retail traders' interest and significant developments, including a key EU approval and a $5 million deal with a U.S. rail contractor. Despite the rapid increase, there is potential for both further gains and a pullback.

Portfolio Pulse from Aaron Bry

January 30, 2024 | 4:11 pm

BLOK

GRDI

MARA

RIOT

Bitcoin mining company GRIID Infrastructure (NASDAQ:GRDI) saw its stock drop 54% in two days after listing on Nasdaq through a merger with SPAC Adit EdTech. The company, which operates in New York and Tennessee, aims to grow its capacity and hash rate. GRIID utilizes 67% carbon-free power and reported $2.6 million in Q3 2023 revenue. The market context includes a $525 million credit facility from Blockchain.com and an upcoming Bitcoin halving event. Other mining stocks like Marathon Digital (NASDAQ:MARA) and Riot Platforms (NASDAQ:RIOT) also experienced declines this year. Analysts from Compass Point Research and Amplify Transformational Data Sharing ETF (NYSE:BLOK) commented on the sector's challenges and potential.

Portfolio Pulse from Murtuza Merchant

January 30, 2024 | 4:10 pm

KURA

Kura Oncology's stock is trading higher following the release of preliminary clinical data from the first 20 patients in its KOMET-007 study. The positive response to the data suggests investor optimism about the potential of the company's ongoing research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 4:08 pm

SOFI

SoFi Technologies Inc (NASDAQ:SOFI) reported its first-ever positive EPS and a revenue surprise of 3.98% for Q4. Management expects a 20-25% Revenue CAGR over 2023-2026, with significant growth across all business segments. The bullish outlook has boosted investor sentiment, reflected in discussions on Reddit and Twitter. Despite high current P/E valuations, forward valuations are expected to improve with anticipated earnings growth.

Portfolio Pulse from Surbhi Jain

January 30, 2024 | 4:04 pm