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FENC

Fennec Pharmaceuticals reported Q4 earnings with a loss of $(0.10) per share, missing the $(0.02) estimate by 400%, but showed a 61.54% improvement from last year. Sales reached $9.73M, exceeding the $8.67M estimate by 12.28% and marking a 534.20% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:02 am

ARKG

ARKK

MRNA

PFE

Cathie Wood's Ark Invest has significantly increased its stake in Moderna, Inc. (MRNA), doubling its holdings since the fourth quarter, as indicated by recent purchases through its ARK Innovation ETF (ARKK) and Ark Genomic Revolution ETF (ARKG). This move comes as Moderna diversifies its product pipeline beyond its COVID-19 vaccine, Spikevax, and reports strong revenue figures. Meanwhile, Ark has sold off its shares in Pfizer, Inc. (PFE), a rival COVID-19 vaccine maker. Moderna's stock has seen a modest year-to-date gain, lagging behind the broader market, but analysts see a potential upside.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 10:00 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki, commented on a trader's significant loss in Tesla stock throughout 2022, emphasizing that gambling is not investing. The trader, Charles Harris, saw his margin account drop from eight figures to six due to Tesla's 69% stock decline, influenced by various factors including supply chain disruptions and Elon Musk's acquisition of Twitter. Gerber advises against margin trading and urges consulting a financial advisor.

Portfolio Pulse from Anan Ashraf

March 21, 2024 | 9:58 am

SHEL

Shell (NYSE:SHEL) has sold its 50% stake in SouthCoast Wind Energy LLC to Ocean Winds North America LLC, streamlining its renewables portfolio. This move aligns with Shell's Powering Progress strategy to focus on renewable generation projects in key markets. The financial terms of the deal were not disclosed. Shell also aims to reduce customer emissions from its oil products by 15-20% by 2030.

Portfolio Pulse from Lekha Gupta

March 21, 2024 | 9:57 am

AVGO

TD Cowen analyst Matthew Ramsay upgraded Broadcom (NASDAQ:AVGO) from Market Perform to Outperform and increased the price target from $1400 to $1500.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:53 am

USDT

The 'overnight effect' observed in traditional stock markets, where significant price movements occur outside regular trading hours, is being scrutinized for its relevance in the cryptocurrency market. Unlike the stock market, the crypto market operates 24/7, making it susceptible to news-driven fluctuations at any time. Studies, including one from the Federal Reserve Bank of New York, suggest that crypto might still be influenced by traditional market movements, particularly during the opening hours of other global markets. Factors such as global interdependence, investor sentiment, and the role of Tether (USDT) in the crypto market are crucial in understanding this dynamic. However, crypto's inherent features like decentralization, a continuous news cycle, and high volatility could mitigate the 'overnight effect'.

Portfolio Pulse from Murtuza Merchant

March 21, 2024 | 9:39 am

GOOG

GOOGL

RDDT

Wedbush's Dan Ives highlighted the upcoming Reddit Inc. IPO as a potential 'watershed' moment for the tech industry, emphasizing its engagement, advertising potential, and AI data generation capabilities. Ives predicts Reddit will hit $1 billion in revenue next year. The IPO is drawing attention for its potential impact on tech and AI, with Reddit having secured a $60 million deal with Alphabet Inc. ahead of its IPO, which could be priced at the top range of $31 to $34 per share.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 9:38 am

EWU

The S&P Global/CIPS U.K. Services Purchasing Managers Index (PMI) for the preliminary report came in at 53.4, slightly below the estimated 53.8 and equal to the prior reading of 53.8. This indicates a slight underperformance compared to expectations but shows stability in the sector's growth.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:34 am

EWU

The S&P Global/CIPS U.K. Composite Purchasing Managers' Index (PMI) for the preliminary report came in at 52.9, slightly below the estimated 53.1 and the previous 53.0. This indicates a marginal slowdown in the U.K.'s economic activity.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:33 am

DIS

Ross Gerber, CEO of Gerber Kawasaki, publicly supports Disney's CEO Bob Iger during a proxy battle with activist investors. Gerber praises Iger's leadership and Disney's recent successes, including a new deal with ESPN and the addition of Taylor Swift to their platform. George Lucas also supports Iger, highlighting the broad industry backing against activist investor Nelson Peltz. Disney's strategic moves, including a studio overhaul, aim to revitalize its business amidst challenges.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 9:11 am