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BTCUSD

Bitwise Asset Management's CIO, Matt Hougan, predicts Bitcoin could exceed $200,000 in 2024 due to a significant supply-demand imbalance, particularly with the anticipated approval of spot Bitcoin ETFs. This revision from an initial $80,000 forecast is driven by growing demand from various investor groups and the upcoming halving event reducing new supply. Bitcoin's recent price surge to a new all-time high market cap of $1.33 trillion supports this bullish outlook.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 12:44 pm

NVO

Novo Nordisk A/S announced that its diabetes medicine, Ozempic, significantly reduces the risk of kidney disease progression in type 2 diabetes and chronic kidney disease patients, according to the FLOW study results. The trial, which compared semaglutide 1.0 mg with placebo, achieved its primary endpoint, showing a 24% reduction in kidney disease progression, major adverse cardiovascular events, and death. Novo Nordisk plans to seek regulatory approvals for Ozempic's label expansion in the U.S. and EU in 2024. However, NVO shares dropped 1.79% in premarket trading.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 12:41 pm

SFIX

Stitch Fix shares dropped following disappointing Q2 financial results and lower-than-expected revenue guidance for Q3 and FY24. Additionally, Bernstein and Wells Fargo reduced their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:40 pm

MYE

Myers Industries' shares surged following the announcement of Q4 adjusted EPS results that exceeded expectations and the issuance of FY24 adjusted EPS guidance surpassing estimates.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:38 pm

RGNX

REGENXBIO's stock price increased following the announcement of promising initial efficacy data from its AFFINITY DUCHENNE trial of RGX-202.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:36 pm

DAVE

Dave Inc. (NASDAQ:DAVE) reported a 22.82% increase in quarterly sales, reaching $73.20 million up from $59.60 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:33 pm

TNL

Truist Securities analyst Patrick Scholes has maintained a Buy rating on Travel+Leisure (NYSE:TNL) and increased the price target from $59 to $65.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:33 pm

AAPL

Jim Cramer has expressed concern over Apple Inc.'s future in China following a 24% drop in iPhone sales in the first six weeks of 2024, including the Lunar New Year period. This decline is part of a broader trend of challenges for Apple in China, including a rare iPhone discount during the Lunar New Year sale to counter economic deflation, price cuts by resellers, and adverse impacts from China's iPhone ban and security advisories. Apple's December 2023 quarter already showed a 13% decline in iPhone sales in China, marking it as a weak quarter. Additionally, competition from Huawei's resurgence is intensifying the situation.

Portfolio Pulse from Rounak Jain

March 05, 2024 | 12:30 pm

VVX

V2X (NYSE:VVX) reported Q4 adjusted EPS of $1.22, surpassing the $0.33 estimate, a 269.7% beat. Quarterly sales reached $1.04B, exceeding the $1.01B estimate by 2.97% and marking a 6.32% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:29 pm

BTBT

CLSK

CORZ

HIVE

MARA

RIOT

WGMI

Economist Peter Schiff raised concerns about the underperformance of bitcoin mining stocks despite Bitcoin's recent surge. He noted that while Bitcoin and other related stocks hit record highs, major bitcoin mining stocks like Marathon Digital Holdings, Riot Platforms, HIVE Digital Technologies, Bit Digital, CleanSpark, and Core Scientific experienced losses. Schiff suggests this divergence could indicate potential trouble for Bitcoin. The Valkyrie Bitcoin Miners ETF also saw a premarket drop.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 12:27 pm