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BMY

Bristol Myers Squibb & Co (NYSE:BMY) released data from its Phase 3 EMERGENT program for KarXT, showing favorable impacts on weight and metabolic profiles in schizophrenia patients without the common side effect of weight gain. KarXT led to significant improvements in schizophrenia symptoms across all efficacy measures at 52 weeks. Bristol Myers acquired Karuna Therapeutics Inc. for $14 billion, adding KarXT to its portfolio. BMY shares slightly dropped by 0.14% to $51.26.

Portfolio Pulse from Vandana Singh

April 08, 2024 | 2:31 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) stock has fallen 45% to $1.96, likely due to profit-taking after announcing a new cigarette production contract. The company also revealed a debt-for-equity exchange to eliminate senior secured debt, finalized agreements for stock and warrants purchases, and announced executive appointments, aiming for cash positivity by Q1 2025.

Portfolio Pulse from Henry Khederian

April 08, 2024 | 2:31 pm

KRRGF

WGXRF

Karora Resources (OTCQX:KRRGF) and Westgold Resources (OTCQX:WGXRF) announced a merger valued at $1.45 billion, aiming to create a mid-tier gold producer with an annual production of 400,000 ounces of gold. The merger is expected to unlock $320 million in synergies and establish the combined entity, Enlarged Westgold, as the sixth-largest Australian-based gold miner. The deal gives Westgold a 50.1% majority stake, with Karora shareholders receiving a 10.1% premium. The merged entity will focus on cost synergies, international visibility, and has a significant exploration portfolio.

Portfolio Pulse from Stjepan Kalinic

April 08, 2024 | 2:29 pm

COIN

IBIT

MSTR

Bitcoin's price increased by 3.5% to $71,700, influencing a rise in Ethereum and U.S. crypto-related stocks like Coinbase, MicroStrategy, and BlackRock's Bitcoin ETF. The upcoming Bitcoin halving event is anticipated to further impact market dynamics, with a record $646 million inflow into digital asset investments last week. The market is showing regional variations in investor sentiment, with the U.S. and others experiencing inflows, while Switzerland and Canada saw outflows. The Benzinga Future of Digital Assets conference will explore these developments.

Portfolio Pulse from Murtuza Merchant

April 08, 2024 | 2:26 pm

UBER

Uber Technologies' stock is trading lower following Elon Musk's announcement on social media about Tesla's plan to unveil the Tesla Robotaxi on August 8th, 2024. This development could potentially impact Uber's market share and future profitability.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 2:21 pm

TSLA

Tesla shares are trading higher following CEO Elon Musk's announcement on social media about the unveiling of the Tesla Robotaxi on August 8th, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 2:18 pm

NVDA

NVIDIA is rumored to launch its next-gen GeForce RTX 5090 & RTX 5080 'Blackwell' GPUs in Q4 2024, following the positive reception of the RTX 40 'SUPER' series. These GPUs, expected to utilize the latest GDDR7 memory, aim to push the average selling price of GPUs higher. MSI anticipates double-digit gains from these launches. The release schedule follows NVIDIA's pattern of late Q3 or early Q4 launches, though it's subject to market conditions.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 2:17 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are rising due to an increase in Bitcoin prices and positive developments including its registration as a Restricted Dealer in Canada and an upgraded price target by Oppenheimer. Despite Ark Invest selling over $21 million of Coinbase shares, the stock is trading above its 50-day moving average and near its 52-week high. Analysts have mixed views, with an average 1-year price target suggesting a downside.

Portfolio Pulse from Erica Kollmann

April 08, 2024 | 2:16 pm

GE

GE Aero (NYSE:GE) has seen a 42.68% increase in short interest, now at 12.75 million shares or 1.17% of float, with a 1.51-day average cover time. This rise in short interest indicates a more bearish market sentiment towards GE Aero, though it's below the peer group average of 2.68%. Short interest can be a complex indicator, potentially bullish if interpreted as an expectation of a price rebound.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 2:15 pm

QBTS

D-Wave Quantum (NYSE:QBTS) has seen a significant decrease in short interest, with a 40.38% drop to 5.48 million shares, representing 6.04% of its float. This reduction in short interest, which now takes traders approximately 1 day to cover, could indicate a shift in market sentiment towards a more bullish outlook for QBTS. The company's short interest is also below its peer group average of 9.00%, suggesting a relatively positive performance against its competitors.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 2:15 pm