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NVDA

Nvidia faces competition from Huawei's new AI chip, the Ascend 910B, which reportedly matches or surpasses Nvidia's A100 in some tests. This comes amid US export restrictions on Nvidia's advanced GPUs to China. Huawei's AI strategy has gained traction domestically, with major Chinese tech firms adopting its chips. Despite technological challenges, Huawei's AI chips present substantial competition to Nvidia within China. Nvidia's market valuation recently surpassed $3 trillion, but its shares were trading lower by 1.15% at $1,196.05.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 1:56 pm

BMEA

BNED

LFLY

SCNI

TPHS

VERO

U.S. stocks traded lower following the release of May's jobs data, which showed a higher-than-expected increase in nonfarm payrolls. The Dow, NASDAQ, and S&P 500 all fell. Notable stock movements included significant gains for Venus Concept Inc., Trinity Place Holdings Inc., and Leafly Holdings, Inc., while Biomea Fusion, Inc., Barnes & Noble Education, Inc., and Scinai Immunotherapeutics Ltd. saw substantial declines.

Portfolio Pulse from Avi Kapoor

June 07, 2024 | 1:50 pm

BMY

GERN

The FDA has approved Geron Corporation's (NASDAQ:GERN) first commercial drug, Rytelo (imetelstat), for treating adult patients with low-to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia. This approval is based on successful Phase 3 trial results and positions Rytelo as a competitor to Bristol Myers Squibb's (NYSE:BMY) Reblozyl (luspatercept-aamt).

Portfolio Pulse from Vandana Singh

June 07, 2024 | 1:49 pm

BRZE

BTCUSD

DOGEUSD

ETHUSD

GME

SMLR

Bitcoin, Ethereum, and Dogecoin declined as markets await job data. GameStop reported Q1 results and announced a capital raise ahead of the 'Roaring Kitty' event. Semler Scientific purchased more Bitcoins, pushing its total portfolio past $58M. Braze shares rose by 14% premarket. The Federal Reserve needs more data before slashing rates. GameStop's stock is back above $60, driven by premarket activity.

Portfolio Pulse from Akanksha Bakshi

June 07, 2024 | 1:46 pm

RDY

Dr Reddy's Laboratories announced that the USFDA completed a GMP inspection at their API manufacturing facility (CTO-6) in Srikakulam, issuing a Form 483 with four observations.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:27 pm

BTCUSD

Bitcoin experienced a sharp drop of $1,300 following the release of the U.S. employment report, which showed higher-than-expected non-farm payrolls and a slight increase in the unemployment rate. Despite this, institutional investors are driving significant Bitcoin accumulation, with new whale wallets adding around $1 billion in BTC daily. The demand for Bitcoin from large investors is growing, and holdings in Bitcoin spot ETFs in the USA have increased. However, the growth of stablecoin liquidity, particularly Tether's USDT, has slowed, which could hinder a sustained price rally.

Portfolio Pulse from Murtuza Merchant

June 07, 2024 | 1:25 pm

ESOA

Energy Services Of America Corp (ESOA) has filed for a mixed shelf offering with the SEC. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:11 pm

VERO

Venus Concept shares are trading higher due to continued upward momentum after the stock regained Nasdaq compliance.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:05 pm

NRXS

NeurAxis has submitted an application to the FDA to expand the label for its IB-Stim device. Additionally, the company has provided compliance with NYSE guidelines.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:03 pm

CEADW

Trading halt status was updated at 9:00:00 AM ET, with a quotation resumption announced. The news and resumption times are provided.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:00 pm