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Ondo Finance, a tokenization project backed by Coinbase Global Inc (NASDAQ:COIN), has announced its expansion into the Asia Pacific region, coinciding with a 60% surge in the price of its ONDO token over the past week. The company has opened its first office in the region and appointed Ashwin Khosa as the vice president of Business Development for Asia Pacific. Ondo Finance has also announced partnerships with Mantle and Solana to expand the USDY stablecoin to their blockchains. The company offers four primary products, including tokenized wrappers of BlackRock (NASDAQ:BLK) funds and a lending protocol. Cryptocurrency analysts anticipate listings on major exchanges and significant growth for the ONDO token.

Portfolio Pulse from Khyathi Dalal

January 22, 2024 | 7:42 pm

IONS

Ionis Pharmaceuticals Inc (NASDAQ:IONS) reported positive Phase 3 results for donidalorsen in treating hereditary angioedema (HAE), meeting its primary endpoint and all secondary endpoints for the Q4W group. The drug was well-tolerated with no serious adverse events. Ionis is preparing for FDA submission and plans to present detailed results at an upcoming congress. William Blair maintains an Outperform rating on Ionis, citing it as their top pick for 2024 due to multiple upcoming catalysts and a strong execution track record. IONS shares rose 0.82% to $51.40.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 7:35 pm

OTGLY

Palworld, a game developed by Pocketpair, sold over 5 million copies in three days, surpassing major titles in sales pace. Despite its success, the game has faced controversy, including accusations of plagiarism from Pokémon and death threats to its developers. Pocketpair's CEO addressed the harassment and legal concerns, stating that Palworld underwent legal reviews. The game became the most-played on Steam with over 1.29 million concurrent players, setting records as the most-played Japanese game and second most-played paid game on Steam.

Portfolio Pulse from Franca Quarneti

January 22, 2024 | 7:30 pm

ADM

DWAC

GILD

RVSN

SGMT

VIRI

U.S. stocks saw gains with the Dow Jones rising over 100 points. Industrials shares led the gains, while utilities fell. Archer-Daniels-Midland Company (ADM) shares plunged after placing its CFO on leave and revising its FY23 EPS outlook downwards. Sagimet Biosciences (SGMT) and Rail Vision (RVSN) surged on positive developments. Digital World Acquisition Corp. (DWAC) rose after Trump's endorsement by Florida Gov. Ron DeSantis. Virios Therapeutics (VIRI) and Gilead Sciences (GILD) fell on negative clinical and study results.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 7:19 pm

NVO

The European Medicines Agency (EMA) is considering the expanded use of Novo Nordisk's weight loss drug, Wegovy, to also reduce the risk of stroke and heart attacks. This follows positive results from the SELECT trial, which showed a 20% reduction in major adverse cardiovascular events (MACE) with Wegovy compared to placebo. Novo Nordisk's CEO highlighted the drug's efficacy at the JPMorgan Healthcare conference. NVO shares were down 1.12% at $105.76 in the last check.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 7:07 pm

AMZN

Benchmark analyst Daniel L. Kurnos maintains a Buy rating on Amazon (NASDAQ:AMZN) and raises the price target from $170 to $175, anticipating a strong fourth quarter for fiscal 2023. Kurnos highlights the potential of Prime Video Ads and expects steady growth in AWS, projecting revenue and EPS slightly below consensus. Amazon's retail segment is expected to show healthy margin expansion and share gains, with AWS potentially benefiting from generative AI cloud costs.

Portfolio Pulse from Anusuya Lahiri

January 22, 2024 | 7:04 pm

AAPL

AMZN

GOOG

GOOGL

IVV

MSFT

NVDA

SPY

STT

VOO

The SPDR S&P 500 ETF Trust (SPY) celebrated another birthday, marking its position as the first U.S. ETF since its launch on Jan. 22, 1993. Initially struggling with investor interest, SPY now leads the ETF market with $474 million in assets under management. The ETF's success spurred the creation of similar ETFs like iShares Core S&P 500 ETF (IVV) and Vanguard S&P 500 Index Fund ETF (VOO). The S&P 500 Index saw a significant rebound in 2023, with a 20% increase and a new all-time high, partly due to the performance of technology stocks. A $1,000 investment in SPY at launch would be worth $19,326.69 today when adjusted for dividends, a return of 1,932.7% over 31 years.

Portfolio Pulse from Chris Katje

January 22, 2024 | 6:59 pm

LMT

Lockheed Martin (NYSE:LMT) delivered the first of eight C-130J-30 Super Hercules aircraft to the Georgia Air National Guard. The 165th Airlift Wing, based in Savannah, Georgia, will operate the new fleet, which offers enhanced capabilities compared to previous models. The C-130J-30 is a stretched version of the C-130J with additional cargo space. This delivery also marks the first U.S. Air Force C-130J-30 to receive the Block 8.1 configuration, improving interoperability with features like a new flight management system. The aircraft represents a significant investment in the Georgia economy, with a $2 billion annual impact and support from 18 Georgia-based suppliers. Lockheed Martin's Marietta facility, employing over 5,500 Georgians, is responsible for the production of these aircraft.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:39 pm

ADM

AMD

DIA

GILD

IWM

QQQ

SPY

TLT

TSLA

WDC

XLI

XLU

U.S. stock indexes hit all-time highs with the S&P 500 reaching 4,850 points, Nasdaq 100 at 17,365, and the Dow Jones briefly touching 38,000. Small caps outperformed, with the iShares Russell 2000 ETF (IWM) rising 1.7%. Treasury yields eased, benefiting the iShares 20+ Year Treasury Bond ETF (TLT), which rose 0.6%. Gold fell, oil prices soared, and Bitcoin tumbled. SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones (DIA), and Invesco QQQ Trust (QQQ) all rose 0.3%. Industrials Select Sector Fund (XLI) outperformed, while Utilities Select Sector Fund (XLU) lagged. AMD fell after a downgrade, Tesla dropped due to a stalling EV outlook, ADM plummeted amid an investigation, GILD fell after a trial failure, and WDC rose on business separation plans. Key earnings reports are anticipated this week from companies like GE, JNJ, RTX, PG, VZ, LMT, NFLX, TXN, ISRG, and more.

Portfolio Pulse from Piero Cingari

January 22, 2024 | 6:35 pm

CHTR

TelevisaUnivision and Charter Communications, Inc. (NASDAQ:CHTR) have announced a multi-year agreement to extend and expand their partnership, providing Spectrum customers with access to Spanish-language content. The deal includes the launch of an ad-supported premium subscription version of ViX, which will be available at no additional cost to Spectrum TV Select or Mi Plan Latino package subscribers. This new offering will feature a wide range of content, including original series and live soccer matches. Additionally, TelevisaUnivision's U.S. channels will be part of a new low-cost Spanish-language streaming package by Spectrum.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:24 pm