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Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:14 pm

CMND

FLHLF

HUGE

MNMD

PBM

The article provides a comprehensive roundup of recent developments in the psychedelics field, including research findings, global regulatory perspectives, therapeutic applications, and business news. Key highlights include potential roles of psilocybin in dementia prevention and psychological flexibility, global legalization trends, and various companies' strategic moves such as voluntary delistings, partnership agreements, financial results, and patent filings related to psychedelic therapies.

Portfolio Pulse from Lara Goldstein

April 17, 2024 | 1:13 pm

ALLR

Allarity Therapeutics has been granted an extension by Nasdaq to regain compliance with its listing requirements. This development provides the company with additional time to meet Nasdaq's standards, potentially avoiding delisting.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:12 pm

EGIO

Citron Research defends its positive outlook on Edgio ($EGIO), countering a recent analyst's critique. They emphasize Edgio's significance in the CDN space, crucial for edge computing and AI, and highlight its substantial revenue from Microsoft, countering claims of insignificance. Citron acknowledges Edgio's problematic capital structure but sees potential for improvement with financial filings and refinancing. They suggest that even a conservative valuation could significantly increase Edgio's stock price.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:11 pm

TSLA

Vinod Khosla, supported by Elon Musk and Nvidia's Jim Fan, predicts a future where robots take over undesirable jobs, with Musk's Tesla planning to ship its Optimus humanoid robot units this year. Musk sees Optimus as potentially the most valuable product ever.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 1:09 pm

RYAAY

Ryanair Holdings plc (NASDAQ:RYAAY) shares are up in premarket trading as the company expects Boeing Co (NYSE:BA) to deliver 40 new jets by mid-July, according to CEO Michael O’Leary. This delivery schedule aligns with previous adjustments following delays. Ryanair had initially expected 57 Boeing MAX 8200 planes by the end of April but revised this number to 40 due to complications at Boeing. Despite these adjustments, Ryanair plans to resume flights to Tel Aviv on June 3, with ongoing vigilance regarding safety concerns.

Portfolio Pulse from Shivani Kumaresan

April 17, 2024 | 1:07 pm

PWSC

Spruce Point Capital Management issued a strong sell opinion on PowerSchool Holdings (PWSC), citing potential violations of student data privacy laws, concerns over revenue quality, opaque financial reporting, and aggressive accounting practices. They predict a 30% to 60% downside risk to PWSC's share price due to these issues, compounded by the end of surplus COVID-19 stimulus spending and questionable management and board actions.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:07 pm

APP

CVS

FCX

XME

Joshua Brown highlighted AppLovin (APP) as the top-performing large-cap stock of the year, with its price target raised by Morgan Stanley. Stephanie Link recommended Freeport-McMoRan (FCX) due to China's recovery, supported by upgrades from BofA Securities and Scotiabank. Freeport-McMoRan is a major holding in the SPDR S&P Metals & Mining ETF (XME). Jim Lebenthal named CVS Health (CVS) ahead of its earnings report, with analysts expecting a decrease in earnings per share but an increase in revenue.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 1:06 pm

STLA

TSLA

TTWO

A Boeing whistleblower has called for the global grounding of 787 Dreamliners due to fears of 'premature failure'. Meanwhile, Bitcoin's value is said to hinge on a key support level, with analysts suggesting that the current crypto cycle is far from over. In the US, investor optimism decreases, but Wall Street experts remain bullish, dismissing rate cut fears and Middle East tensions. Tesla's focus on autonomous driving and strong sales strategy is highlighted, alongside Take-Two Interactive's workforce reduction and Stellantis CEO's warning of a challenging year. Cathie Wood's Ark Invest continues to show confidence in Tesla, buying $3.3M worth of shares.

Portfolio Pulse from Akanksha Bakshi

April 17, 2024 | 1:05 pm

VNDA

Vanda Pharmaceuticals Inc. (VNDA) has rejected multiple unsolicited takeover proposals from Future Pak, LLC, stating that the offers significantly undervalue the company. The most recent offer was between $7.25 and $7.75 per share. Vanda's Board, after consulting with financial and legal advisors, concluded these offers do not align with the company's best interests, citing its strong clinical pipeline, commercial presence, cash balance, and growth prospects. The Board views these proposals as opportunistic, offering minimal premium over Vanda's cash balance and not adequately valuing its revenue stream and pipeline.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 1:05 pm