Streetbeat News

Regulatory

USO

VGK

Russian President Vladimir Putin stated that the objective of OPEC+ is to achieve price stability in the oil market, rather than to increase prices. This clarification comes amid concerns over rising oil prices and their impact on the global economy.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:17 pm

AAPL

AMAT

AMD

AMZN

GLD

GOOG

NVDA

SMH

Investors are closely monitoring semiconductors, particularly the VanEck Semiconductor ETF (SMH), for signs of a pullback, as they are a leading indicator in the AI revolution. The article highlights a 62% gain from the Arora buy zone and suggests a potential market-wide pullback if semiconductors decline. Key semiconductor stocks like NVIDIA (NVDA) and Applied Materials (AMAT) are favored. Additionally, AMD faces challenges with U.S. restrictions on AI chip exports to China, and Apple (AAPL) sees a market share drop in China. Gold, represented by SPDR Gold Trust (GLD), has reached a new high, indicating investor anticipation of an interest rate cut. Negative early trade money flows are observed in major tech stocks and ETFs like Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust (QQQ).

Portfolio Pulse from The Arora Report

March 05, 2024 | 4:14 pm

CDIO

Cardio Diagnostics Holdings' shares surged following the announcement that the U.S. Patent and Trademark Office has issued a notice of allowance for its patent application related to detecting predisposition to cardiovascular disease.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:36 pm

NVS

The FDA has approved JUBBONTI, a new drug developed by SANDOZ INC, a division of Novartis (NVS). This approval marks a significant milestone for SANDOZ INC and potentially enhances Novartis's product portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:26 pm

AMD

AOTG

NVDA

SOXQ

AMD stock is trading lower due to difficulties in selling its AI chip in China, following U.S. export restrictions. The U.S. deemed AMD's compliant chip too advanced, requiring a special license for distribution. This comes amid broader U.S. efforts to limit China's access to advanced semiconductors, with China moving towards the RISC-V architecture to reduce reliance on Western technologies like AMD's x86. AMD is recognized as a key player in AI technology, second to Nvidia. Investors can gain exposure to AMD through AOT Growth And Innovation ETF (AOTG) and Invesco PHLX Semiconductor ETF (SOXQ).

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 3:11 pm

SPY

VGK

Hungarian President has signed the ratification of Sweden's NATO membership, marking a significant step in Sweden's journey to join the North Atlantic Treaty Organization.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:07 pm

LLY

The U.S. FDA announced that there will be limited availability of Mounjaro injections in dosages of 10 mg/.5 ml, 15 mg/.5 ml, and 12.5 mg/.5 ml through early March 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:03 pm

CRLBF

Ohio has reduced annual registration fees for medical marijuana patients and caregivers to one cent, amidst delays in implementing the state's voter-approved adult-use cannabis law. Political disagreements have stalled the process, with towns opting out of cannabis sales. Cresco Labs, operating dispensaries and a growth facility in Ohio, remains optimistic about eventual community acceptance. The Benzinga Cannabis Capital Conference in Florida is highlighted as an upcoming event for cannabis entrepreneurs.

Portfolio Pulse from Maureen Meehan

March 05, 2024 | 2:59 pm

WAVD

Firefly Neuroscience, Inc. announced findings from a white paper titled 'Brain Network Analytics (BNA) in the Psychiatric Practice: Real-Life Data Analysis', showcasing the significant impact of its BNA™ Platform on disease management in 2,253 U.S patients. The FDA-approved tool demonstrated improvements in treatment compliance, medication selection, and overall patient outcomes for major depressive disorder, generalized anxiety disorder, and ADHD. Additionally, Firefly is set to merge with WaveDancer, Inc. (NASDAQ:WAVD), pending stockholder approval.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:18 pm

ABNB

IWGFF

UBER

IWG Plc, a provider of flexible office solutions, is considering a U.S. stock market listing to align its valuation with tech giants like Uber and Airbnb. The company, known for Regus office spaces, is transitioning to report in dollars and adopting U.S. GAAP standards, reflecting its earnings generation in the region. CEO Mark Dixon highlighted the move as part of IWG's growth strategy and adaptation to post-pandemic work trends. Despite efforts to reposition as a tech-forward platform, IWG faces investor skepticism, partly due to the lack of direct competitors for valuation benchmarking.

Portfolio Pulse from Akanksha Bakshi

March 05, 2024 | 2:15 pm