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Vitalik Buterin's tweet in Chinese saying 'We'll learn to meow together' has inadvertently led to the creation of a new memecoin with a ticker symbol '喵喵喵喵' (Chinese for 'meow meow meow meow'), reaching a $5 million market cap within hours. Justin Sun, founder of Tron, supported the coin, promising a listing on his exchange, Poloniex. This event highlights the influence of prominent figures in the crypto space and the volatile nature of memecoins, which can surge in value following endorsements or social media activity.

Portfolio Pulse from Ivan Crnogatić

January 30, 2024 | 5:18 pm

REGN

TSVT

2seventy Bio has announced that it will concentrate solely on the commercialization and development of its cancer treatment, Abecma, and is selling its research and development pipeline to Regeneron Pharmaceuticals. This strategic move is aimed at focusing the company's resources on Abecma, which is a significant product in its portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:15 pm

SPY

Institutional investors recorded the second-largest weekly outflow from single stocks since 2008, led by sales in Tech, Discretionary, and Staples sectors. Despite this, the SPDR S&P 500 ETF Trust (SPY) reached new highs. The trend suggests a shift towards diversification, with institutions buying equity ETFs while selling single stocks. Private clients and hedge funds were buying as institutions sold, with a pivot towards mid and small-cap stocks and growth/blend ETFs over value ETFs.

Portfolio Pulse from Piero Cingari

January 30, 2024 | 5:13 pm

NVDA

SSNLF

Nvidia Corp (NVDA) is negotiating with SK Hynix for High Bandwidth Memory (HBM) for Q1 2025, following a previous agreement with Samsung Electronics (SSNLF) for HBM3 to meet AI demand. Nvidia secured 2024 HBM supply with billion-dollar payments to SK Hynix and Micron Technology (MU). Additionally, Nvidia invested in AI chatbot developer Kore.ai's $150 million funding round, continuing its focus on AI startups that use its chips. Kore.ai, which is planning an IPO, has experienced triple-digit revenue growth and manages 450 million daily interactions. NVDA shares were up 0.44% at $627.82.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 5:12 pm

BKNG

Wedbush analyst Scott Devitt has reiterated an Outperform rating on Booking Holdings (NASDAQ:BKNG) and maintained a price target of $3850 for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:11 pm

Helmerich & Payne Inc (NYSE:HP) stock surged after reporting Q1 FY24 earnings that exceeded expectations. Revenue was $677.1 million, surpassing the $662.2 million consensus, and adjusted EPS was $0.97, beating the $0.72 consensus. The company saw increased operating income, operating cash flow, and higher revenue per day in its North America Solutions segment. HP returned $90 million to shareholders through dividends and share repurchases. The company expects modest rig count growth in fiscal 2024 due to lower projected U.S. crude oil production growth and commodity price volatility. HP shares rose 16.42% to $42.19.

Portfolio Pulse from Lekha Gupta

January 30, 2024 | 5:10 pm

NVVE

Nuvve Corporation's stock (NVVE) is trading higher following the announcement of a $16 million deal with Fresno EOC, which is expected to positively impact the company's financials and market position.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:09 pm

AGFY

CALX

JBLU

PXLW

SANM

SIDU

SXTP

JetBlue Airways Corp (NASDAQ:JBLU) shares fell over 5% after reporting Q4 FY23 results with a decline in operating revenue by 3.7% Y/Y to $2.33 billion, beating estimates but with an adjusted loss per share of 19 cents. The company anticipates a revenue decline in Q1 FY24. Other stocks mentioned include Pixelworks, Inc. (NASDAQ:PXLW), Agrify Corporation (NASDAQ:AGFY), Sanmina Corporation (NASDAQ:SANM), Sidus Space, Inc. (NASDAQ:SIDU), 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP), and Calix, Inc. (NYSE:CALX), which experienced significant price movements after various announcements. Crude oil gained 1%, and U.S. stocks traded mostly lower with the Nasdaq Composite down over 50 points.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 5:08 pm

HXL

UBS analyst Gavin Parsons downgraded Hexcel (NYSE:HXL) from Buy to Neutral and reduced the price target from $87 to $72.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:07 pm

CCL

Carnival Corporation (NYSE:CCL) reported record-high booking volumes since November, with increased pricing and occupancy compared to 2023. The company will reroute 12 ships from the Red Sea, affecting its adjusted EPS by $0.07 to $0.08 for 2024, mainly in Q2. Despite this, Carnival expects strong bookings to offset the rerouting impact. Carnival also redeemed its $571 million 9.875% senior secured notes due 2027, clearing all second lien debt. The stock pays a dividend with a 4.21% yield as of Jan. 30, 2024.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 5:07 pm