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WNNR

Andretti Acquisition Corp (NYSE:WNNR) shares surged after completing a business combination with Zapata Computing, which will now operate as Zapata AI and be listed on Nasdaq under the ticker ZPTA. The merger aims to fuel growth and innovation in industrial generative AI.

Portfolio Pulse from Adam Eckert

March 28, 2024 | 4:58 pm

RUM

Rumble Inc (NASDAQ:RUM) reported mixed Q4 financial results, with revenue missing estimates but earnings per share beating them. Oppenheimer analyst Jason Helfstein noted strong user growth but weaker engagement and monetization than expected. The company anticipates revenue acceleration from Q2 and benefits from its new adtech platform. Rumble Cloud's launch is not seen as materially impactful. RUM shares dropped 4% to $8.13.

Portfolio Pulse from Chris Katje

March 28, 2024 | 4:53 pm

EH

EHang Holdings experienced a significant options trading activity, with a sweep of 565 May 17 $30 calls at $0.7 each, when the stock was trading at $20.98. This indicates a bullish sentiment among investors for EH's stock in the short term.

Portfolio Pulse from Charles Gross

March 28, 2024 | 4:50 pm

MPW

UNH

UnitedHealth Group Inc (NYSE:UNH) provided over $3.3 billion in advance payments to healthcare providers affected by a cyberattack on Change Healthcare's insurance claims system. The attack, attributed to the hacking group 'ALPHV' or 'BlackCat', disrupted financial stability and data security in the healthcare sector. UnitedHealth's response highlights the severity of the situation. Additionally, Medical Properties Trust Inc's (NYSE:MPW) tenant Steward Health Care sold its physician network to UnitedHealth's Optum Care unit. UNH shares slightly increased by 0.02% to $493.19.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:48 pm

BDRX

Biodexa Pharmaceuticals (NASDAQ:BDRX) reports promising early trial results for its investigational drug MTX110, aimed at treating Diffuse Midline Glioma (DMG) in children and Recurrent Glioblastoma (rGBM) in adults. The drug, leveraging a novel delivery method and Convection Enhanced Delivery (CED) technology, has shown potential in significantly extending survival rates in patients beyond historical figures. The company's phase 1 trials have demonstrated encouraging outcomes, with median overall survival rates surpassing previous benchmarks. BDRX shares surged 66.5% to $1.43.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:43 pm

BZFD

BuzzFeed, Inc. (NASDAQ:BZFD) shares surged following the announcement of a multi-year license and strategic partnership with Independent Digital News and Media. This collaboration consolidates well-known brands like The Independent, BuzzFeed UK, Tasty UK, Seasoned, and HuffPost UK under The Independent's leadership in the U.K. and Ireland. The partnership aims to create a 'digital supergroup' by merging publishing, data, and ad-tech platforms for enhanced media, marketing, and e-commerce collaboration. This move is expected to extend their reach, particularly among Gen Z and Millennial audiences, and drive growth for both companies.

Portfolio Pulse from Nabaparna Bhattacharya

March 28, 2024 | 4:43 pm

GILD

XLO

Xilio Therapeutics Inc (XLO) stock doubled after announcing an exclusive license agreement with Gilead Sciences Inc (GILD) for the development and commercialization of Xilio's Phase 1 tumor-activated IL-12 program, XTX301. Xilio will receive $43.5 million in upfront payments and is eligible for up to $604.0 million in additional payments, plus royalties. Gilead's 2024 EPS is expected to decrease by $0.03-$0.04 due to this transaction. Xilio also raised $11.3 million through a private placement.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:39 pm

LE

Lands' End shares surged following an upgrade from Craig-Hallum, moving from Hold to Buy, with a new price target set at $15, up from $9.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:38 pm

RH

RH (NYSE:RH) reported weaker-than-expected Q4 results with a 4.4% decline in revenues, attributed to severe weather and shipping delays. Despite this, JPMorgan analyst Christopher Horvers is optimistic, maintaining an Overweight rating and raising the price target from $329 to $345. He expects FY24 sales growth to accelerate, emphasizing the importance of RH delivering on sales and margins amid new store openings and European launches.

Portfolio Pulse from Priya Nigam

March 28, 2024 | 4:37 pm

SRRK

Scholar Rock Holding's stock (SRRK) trades higher following Raymond James' initiation of coverage with a Strong Buy rating and a $30 price target.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:36 pm