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COIN

A U.S. appeals court has partially revived a class action lawsuit against Coinbase (NASDAQ:COIN), which was initially dismissed in February 2023. The lawsuit alleges Coinbase facilitated the trading of unregistered securities. The appeals court has sent the case back to the district court for further ruling, focusing on the necessity of physical contracts for an asset to be considered a security. This decision could influence future regulatory decisions in the digital assets space.

Portfolio Pulse from Khyathi Dalal

April 08, 2024 | 9:20 pm

HTCR

HeartCore Enterprises (NASDAQ:HTCR) reported Q4 earnings with a loss of $(0.14) per share, significantly missing the $(0.01) estimate. Sales were $3.33M, also missing the $8.20M estimate. Despite these misses, sales increased 66.35% from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 9:09 pm

TSLA

Tesla Inc (NASDAQ:TSLA) reportedly halting plans for a $25,000 vehicle shifts focus to robotaxi development, causing mixed analyst reactions. Deutsche Bank's Emmanuel Rosner lowers Tesla's price target from $200 to $189, citing potential thesis change. Uncertainty surrounds Tesla's strategy, with CEO Elon Musk disputing reports but not clarifying future plans. Tesla's Q1 financial results on April 23 may offer insights. The shift could impact Tesla's near-term volume, margins, and free cash flow, with implications for shareholder expectations and stock performance.

Portfolio Pulse from Chris Katje

April 08, 2024 | 8:49 pm

CTRI

SWX

Southwest Gas subsidiary, Centuri Holdings, is planning an IPO of 12.4 million shares, priced between $18-$21 per share. Post-IPO, Southwest Gas will retain about 82.7% ownership, or 81.0% if underwriters fully exercise their option to buy additional shares.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:46 pm

HWM

Howmet Aerospace (NYSE:HWM) has seen a 36.36% increase in its short percent of float since the last report, with 6.82 million shares sold short, representing 2.1% of its available trading shares. This increase in short interest indicates a more bearish market sentiment towards HWM, although it has less short interest compared to its peer group average of 2.64%. The article suggests that an increase in short interest does not necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 8:45 pm

BRO

Brown & Brown (NYSE:BRO) has seen a 3.26% increase in short interest since its last report, with 2.25 million shares sold short, representing 0.95% of its float. This indicates a bearish sentiment among investors, although it's below the peer group average of 3.03%. The article suggests that an increase in short interest doesn't necessarily predict a stock price fall.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 8:45 pm

CAH

Cardinal Health (NYSE:CAH) has seen a decrease in short interest, with 8.61 million shares sold short, representing 4.72% of its float. This is a 19.32% decrease from its last report, taking an average of 3.06 days for traders to cover short positions. Short interest is a key indicator of market sentiment, and a decrease suggests a more bullish outlook among investors. Cardinal Health's short interest is higher than its peer group average of 3.84%.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 8:45 pm

NFLX

TD Cowen analyst John Blackledge maintains a Buy rating on Netflix (NASDAQ:NFLX) and raises the price target from $600 to $725, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:44 pm

VINC

Vincerx Pharma's shares dropped following the presentation of preliminary Phase 1 data for VIP236 and updates on its pipeline progress at the AACR Annual Meeting 2024.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:42 pm

ELEV

Elevation Oncology, Inc. (NASDAQ:ELEV) announced preclinical proof-of-concept data for its HER3-ADC program at the AACR Annual Meeting 2024. The data demonstrates the program's potential in treating HER3-expressing cancers with a novel antibody-drug conjugate (ADC) that selectively targets HER3. The company plans to nominate a development candidate later in 2024, aiming to advance this therapy closer to clinical trials. The HER3-ADC program, which includes the molecule HER3-ADC1, showed promising results in vitro and in vivo, outperforming a benchmark HER3-ADC in cytotoxicity assays and inducing tumor regression in a pancreatic cancer model.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 8:36 pm