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BMEA

Biomea Fusion, Inc. (NASDAQ:BMEA) presented at the 42nd Annual J.P. Morgan Healthcare Conference, highlighting clinical progress and 2024 milestones. The company expects to complete the Phase II COVALENT-111 study for type 2 diabetes and the open label portion of the Phase II COVALENT-112 study for type 1 diabetes in 2024. Biomea Fusion reported positive data from previous trials and has received regulatory clearance to proceed with studies. The company is also advancing its oncology assets, with anticipated completion of dose escalation in studies for liquid and solid tumors, and acute leukemias. Additionally, Biomea Fusion is developing its FUSION™ Platform technology.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:04 pm

AAPL

AMD

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

NVIDIA Corp (NVDA) stock experienced a breakout with higher volume, contributing to a 320% gain for The Arora Report members who bought at an average price of $125.51. Announcements from NVDA and Advanced Micro Devices, Inc. (AMD) about new AI chips have spurred a buying frenzy in AI and tech stocks. NVDA's GeForce RTX SUPER desktop GPUs for AI desktops can now be exported to China. The market is also anticipating key inflation data with CPI and PPI reports due later this week. European markets are facing pressure, and early trade money flows are positive for NVDA but negative for other tech giants. The momo crowd is actively buying stocks and oil, while smart money activity is undisclosed. Bitcoin has surged above $47,000 on expectations of ETF approval. The Arora Report advises investors to maintain a balance of cash, hedges, and investments to capitalize on new opportunities.

Portfolio Pulse from The Arora Report

January 09, 2024 | 3:58 pm

BABA

NVDA

QQQ

TCEHY

Nvidia Corp (NASDAQ:NVDA) announced new AI-enhanced graphics chips at the CES trade show, including the GeForce RTX 4080 Super, which led to a stock price increase of over 6%. The chips will be competitively priced and improve PC gaming experiences. Despite a downturn in PC shipments, Nvidia's market performance remains strong, with a valuation over $1 trillion. The new products comply with U.S. export regulations, avoiding the impact of AI-related chip export limits to China. However, U.S. sanctions have led Chinese cloud companies like Alibaba Group Holding Limited (NYSE:BABA) and Tencent Holding Ltd (OTC TCEHY) to seek local alternatives, potentially reducing their reliance on Nvidia's chips from 80% to 50%-60% within five years. Nvidia's stock outperformed Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) last year, gaining 235% compared to QQQ's 50%.

Portfolio Pulse from Anusuya Lahiri

January 09, 2024 | 3:58 pm

CELZ

Creative Medical Technology Holdings (CELZ) was not granted a U.S. patent on Tuesday, contrary to previous reports. This correction clarifies the company's current patent status.

Portfolio Pulse from Charles Gross

January 09, 2024 | 3:53 pm

CELZ

Creative Technology Corporation has been granted U.S. Patent #11866281 for an electrostatic adsorption body. This patent could potentially enhance the company's intellectual property portfolio and provide a competitive edge in its market segment. The news may positively influence investor sentiment and the company's future business prospects.

Portfolio Pulse from Charles Gross

January 09, 2024 | 3:49 pm

ROMA

Trading for the IPO security was halted but has now resumed as of 10:35:00 AM ET.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:35 pm

HROW

Private Capital Management, LLC has disclosed a 10.34% ownership stake in Harrow, Inc. as of December 31, 2023, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:30 pm

BLK

BTCUSD

BlackRock Inc (BLK) and VanEck have updated their SEC filings for spot Bitcoin ETFs, addressing SEC feedback to reduce shareholder risks and prevent conflicts of interest. VanEck's CEO expects their Bitcoin ETF to start trading on January 11. Ark21Shares Bitcoin ETF and Grayscale Bitcoin Trust also updated their filings. Analysts and investors comment on Bitcoin's price movements and potential impact of the ETFs, with Bitcoin currently holding above $46,000.

Portfolio Pulse from Khyathi Dalal

January 09, 2024 | 3:29 pm

GRFS

Grifols has stated that all transactions since 2018 have been properly recorded in the company's books and public accounts, which were presented to both the Spanish regulator and the SEC in the US via the 20-F form. The company emphasizes that there is no new information that could be considered hidden.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:53 pm

PBTS

Powerbridge Technologies Co., Ltd. (PBTS) has regained compliance with the Nasdaq's minimum bid price requirement. The company received a notification from Nasdaq stating that it has maintained a closing bid price of $1.00 per share or more for at least 10 consecutive business days. As a result, Powerbridge is now in compliance with the Nasdaq Listing Rule 5550(a)(2).

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:32 pm