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DYN

RNA

Cantor Fitzgerald initiated coverage on Avidity Biosciences Inc (NASDAQ:RNA) with an Overweight rating and a $60 price target, predicting a 142% stock surge. The optimism is based on Avidity's 'complete package,' including a strong management team, a proven platform, a robust pipeline, and a blockbuster product, deldesiran, for Myotonic dystrophy type 1 (DM1). Avidity's Phase 2 trials have shown promising results, and U.S. sales are projected to reach $1.3 billion by 2031. Dyne Therapeutics Inc (NASDAQ:DYN), a competitor, is also mentioned as trailing Avidity by approximately 12 months but validating the approach.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 7:29 pm

AMD

CRWD

NOW

PLTR

TEAM

UBER

Josh Brown from Ritholtz Wealth Management has identified a new set of stocks dubbed the 'Mag 7 Bench', which could potentially become the next 'Magnificent Seven' in the stock market. Using criteria such as market cap below $350 billion, 14-day relative strength of 45 to 65, forward P/E ratios of 85 or less, and five-year annualized growth rates of 25% or greater, the list includes Advanced Micro Devices (AMD), Uber Technologies (UBER), ServiceNow (NOW), Fiserv (FI), CrowdStrike Holdings (CRWD), Palantir Technologies (PLTR), and Atlassian Corp (TEAM). Brown suggests these companies have the potential to reach a trillion-dollar market cap in the future.

Portfolio Pulse from Adam Eckert

March 14, 2024 | 7:23 pm

AAPL

MRAAF

TSM

Apple Inc, along with its suppliers Taiwan Semiconductor Manufacturing Co (TSMC) and Murata Manufacturing Co, are increasing their investment in a green initiative to $280 million. TSMC and Murata are contributing $50 million and $30 million, respectively, to the Restore Fund, managed by Climate Asset Management. This fund aims to support carbon removal through nature-based solutions. Additionally, Apple is advancing its chip technology with TSMC's 2-nanometer fabrication process. Despite a downturn in the consumer electronics market, TSMC's stock rose 58% last year, outperforming Apple's 14% increase.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:18 pm

AMZN

VCR

XLY

Amazon.com Inc (NASDAQ:AMZN) is launching its first 'Big Spring Sale' on March 20 in North America, offering discounts on a variety of seasonal items to all shoppers, not just Prime members. This move is part of Amazon's strategy to expand its shopping events and compete with low-cost retailers amid persistent inflation. The sale includes deals on spring fashion, fitness products, outdoor furniture, and Amazon-branded devices. Investors can also gain exposure to Amazon's stock through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:15 pm

NET

Recent analysis of Cloudflare's (NYSE:NET) options activity reveals a bearish sentiment among large investors, with 55% of trades being bearish. The analysis includes 18 trades, with a notable interest in options ranging from $55.0 to $120.0. Significant trades include a mix of bullish and bearish sentiments, with the largest trade being a bullish call sweep for $3.5M at a strike price of $80.00. Cloudflare, a software company specializing in security and web performance, is currently trading at $96.49, with an upcoming earnings announcement in 42 days.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 7:15 pm

AAPL

AMZN

MUSQ

SONY

The 96th Academy Awards highlighted the integral role of music in cinema, with 'Oppenheimer' and 'Barbie' being notable winners. Universal Music Group and Sony Music Entertainment artists were among the winners and nominees, showcasing their influence in the industry. Apple's 'Killers of the Flower Moon' also received nominations. The MUSQ Global Music Industry ETF offers investment exposure to the music sector, including companies like Amazon, Apple, Sony, and Universal.

Portfolio Pulse from Melanie Schaffer

March 14, 2024 | 7:07 pm

CRWD

SPLK

SentinelOne Inc (NYSE:S) received mixed analyst ratings despite reporting solid Q4 results, with revenue and ARR beating expectations. JMP Securities reiterated a Market Outperform with a $33 price target, highlighting SentinelOne's AI-driven security and market growth potential. DA Davidson maintained a Neutral rating but raised the price target from $22 to $24, citing full valuation despite robust technology. Needham reiterated a Buy rating with a $31 price target, impressed by the company's growth and operating margin improvement. The company's stock traded lower by 18.12% at $22.88. A significant deal was mentioned where a major energy company replaced Splunk Inc's (NASDAQ:SPLK) SIEM with SentinelOne's Singularity Data Lake.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:07 pm

UNIUSD

Uniswap (CRYPTO: UNI) has seen a 3.89% decrease in price over the last 24 hours, continuing a negative trend with a 6.0% loss over the past week. The trading volume for UNI has decreased by 38.0%, and its circulating supply has slightly decreased by 0.56%, bringing it to 753.77 million. Currently, UNI's market cap ranks it #19 at $10.19 billion.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 7:03 pm

WBTCUSD

Wrapped Bitcoin (WBTC) experienced a 4.21% decrease in price over the last 24 hours, falling to $69,965.00, despite a 3.0% gain over the past week. The trading volume and circulating supply of WBTC also saw declines, with the trading volume dropping by 4.0% and the circulating supply decreasing by 0.17% to 155 thousand. WBTC's market cap ranking is currently #18 at $10.87 billion.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 7:02 pm

STETHUSD

Lido Staked Ether (STETH) has seen a 4.98% decrease in price over the last 24 hours, continuing a negative trend with a 0.0% loss over the past week. The trading volume for STETH has decreased by 14.0%, and its circulating supply has slightly decreased by 0.08%, leading to a current market cap ranking of #6 at $37.23 billion.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 7:02 pm