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EAC

Edify Acquisition is preparing for liquidation and will redeem public shares at approximately $10.61 following the termination of a deal with UNQL. This move comes after the previously planned acquisition deal with UNQL was called off.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 7:37 am

NVO

Novo Nordisk (NYSE:NVO), a Danish pharmaceutical company, is launching its weight-loss drug Wegovy in Japan in response to the country's rising obesity rates. Wegovy, a GLP-1 drug, has significantly contributed to Novo Nordisk's share increase by 70% over the past year. The introduction of Wegovy in Japan, where obesity levels are comparable to America and Europe when using a BMI measure of 25, represents the first effective obesity medication in the country in nearly three decades. The launch will be carefully controlled due to concerns about potential misuse, with a peak sales forecast of $219 million in five years.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 7:20 am

AAPL

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, praised Apple Inc's Vision Pro on social media, despite Apple's recent stock decline. Gerber, a long-time investor in Apple, believes that Vision Pro, a virtual reality and video headset, will lead to significant stock growth for Apple, especially with the company's focus on Gen AI after abandoning its EV project. This comes amid challenges for Apple, including a predicted further 5% drop in shares due to issues in China and a European Commission fine. Despite mixed reviews and a high starting price for Vision Pro, analysts warn against selling Apple stock before its AI developments.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 6:58 am

ARMN

Aris Mining Corporation (ARMN) reported a decrease in Q4 adjusted EPS to $0.09 from $0.11 QoQ and a drop in adjusted EBITDA to $39.65M from $41.56M QoQ. The company's gold production for Q4 was 61,052 ounces, contributing to a total of 226,151 ounces for FY 2023. The Segovia Operations AISC/oz was $1,264 for Q4 and $1,173 for FY 2023. Net earnings for Q4 were a loss of $5.9M, or $0.04 per share, while FY 2023 saw net earnings of $11.4M, or $0.08 per share. Adjusted earnings for FY 2023 were $52.2M, or $0.38 per share.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:40 am

PLTR

Palantir Technologies Inc. (NYSE:PLTR) shares surged over 9% after being named a prime contractor for the U.S. Army's Titan program, an AI-enabled vehicle project. CTO Shyam Sankar highlighted the role of AI in changing warfare, emphasizing the strategic importance of this development. The $178 million contract with the U.S. Army positions Palantir as a key player in military technology, reflecting growing investor confidence.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 6:26 am

CIEN

Ciena Corporation (NYSE:CIEN) is anticipated to report lower earnings for Q1, with expectations set at 48 cents per share compared to 64 cents in the previous year. Revenue is projected at $1.02 billion. Despite this, analysts have recently increased their price targets for CIEN, reflecting a positive outlook on the stock. Notably, JP Morgan, Needham, Evercore ISI Group, B. Riley Securities, and Barclays have all raised their price targets, citing various reasons for their optimism.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 6:20 am

GWRS

Global Water Resources (GWRS) reported Q4 2023 earnings of $0.050 per share, surpassing the $0.040 estimate by 25%. Quarterly sales reached $12.368M, exceeding the $12.000M estimate by 3.07% and marking an 11.43% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 6:16 am

SHIBUSD

Cryptocurrency analyst AwesomeAvani suggests Shiba Inu (CRYPTO: SHIB) needs a cooldown after its recent rally, likening its price activity to a team of sled dogs needing rest. The use of VWAP in analysis indicates a potential temporary ease in SHIB's price movement. Another analyst, Rekt Capital, predicts a possible surge to $0.000066. On-chain data shows a slight dip in SHIB holders but an increase in new accounts, alongside a significant token burn event. SHIB's price is currently down 4.1%.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 6:10 am

NVDA

ESG fund managers express concerns over Nvidia's (NASDAQ:NVDA) valuation despite its significant stock surge, leading to a decrease in ESG funds holding Nvidia shares from 20% to 15%. Kristofer Barrett, a fund manager, remains optimistic long-term but cautious about the current valuation, hinting at a potential bubble. Despite these concerns, Nvidia's market value increased by 17% recently, with a nearly 80% rise in 2024. Analysts remain bullish, with none recommending to sell and most advising to buy.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 5:10 am

BTCUSD

Peter Schiff, a gold advocate, is encouraging Bitcoin holders to invest in his 'Golden Triumph' Ordinals collection, a limited series of digital art on the Bitcoin blockchain. Schiff highlights the exclusivity of his collection, which consists of 50 pieces, contrasting it with the 21 million Bitcoin. Despite initially high prices, the collection's floor price dropped over 57% from 0.7 BTC to 0.3 BTC. Schiff also criticized the reliance on Bitcoin ETFs, predicting a market crash influenced by ETFs despite Bitcoin's recent price increase.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 4:03 am