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EQT

ETRN

EQT Corporation (NYSE:EQT) announced a definitive merger agreement to acquire Equitrans Midstream Corporation (NYSE:ETRN) in an all-stock transaction, creating a combined company valued over $35 billion. The deal, approved by both boards, expects closure in Q4 2024. Post-announcement, EQT's stock fell 0.9%. Analysts revised EQT's price targets, with B of A Securities raising it to $60, while Scotiabank, BMO Capital, and Truist Securities reduced theirs.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:21 pm

GERN

The FDA has raised concerns about Geron Corporation's (NASDAQ:GERN) blood cancer drug, imetelstat, despite it meeting primary and key secondary endpoints in a Phase 3 trial for lower-risk Myelodysplastic Syndromes (MDS) anemia treatment. The FDA's Oncologic Drugs Advisory Committee is set to review the drug on March 14, 2024, with a PDUFA date set for June 16, 2024. Despite FDA's concerns, Needham analysts predict an 80-85% chance of a favorable vote due to the drug's risk/benefit profile, potentially leading to full approval.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 6:20 pm

AMD

FTXL

INTC

NVDA

SOXQ

Intel Corp has managed to continue its chip sales to Huawei, leveraging a license from the previous U.S. administration despite AMD's objections and broader sanctions concerns. This situation underscores the competitive and regulatory challenges in the tech industry, with Intel's ability to supply Huawei being a significant factor for both companies. Additionally, Intel is positioned to benefit from U.S. government funding under the Chips Act, highlighting its role in artificial intelligence technology alongside Nvidia Corp. The First Trust Nasdaq Semiconductor ETF and Invesco PHLX Semiconductor ETF offer investment avenues into this sector.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:17 pm

AEM

DUST

FNV

GOLD

NEM

NUGT

WPM

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) experienced a consolidation on Tuesday after a significant rise, moving in tandem with a decrease in spot gold prices. The ETF, which aims to outperform the NYSE Arca Gold Miners Index by 200%, saw a downturn on decreasing volume, suggesting a pause rather than a shift in market control. NUGT's top holdings include Newmont Corp (NEM), Barrick Gold Corp (GOLD), Agnico Eagle Mines Ltd (AEM), Wheaton Precious Metals Corp (WPM), and Franco-Nevada Corp (FNV). The article also mentions Direxion Daily Gold Miners Index Bear 2X Shares (DUST) for bearish traders.

Portfolio Pulse from Melanie Schaffer

March 12, 2024 | 6:16 pm

BLDP

Ballard Power Systems Inc. (NASDAQ:BLDP) reported Q4 sales growth of 132% year-on-year to $46.80 million, surpassing analyst estimates but posted a larger loss per share than expected. The company highlighted its transition to a commercial products company and a record number of fuel cell engines shipped. Following the report, analysts from Wells Fargo, HSBC, Susquehanna, BMO Capital, and TD Securities adjusted their price targets on BLDP, generally lowering them. Ballard Power shares fell 5.2% in response.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:15 pm

AMD

BABA

BIDU

INTC

IYW

MSFT

NVDA

The U.S. and China are competing closely in the field of generative artificial intelligence (GenAI), with both nations investing heavily. Microsoft, backing OpenAI, is seen as a leader in the U.S. AI industry. China, with companies like Baidu and Alibaba, is rapidly developing its AI capabilities. However, U.S. export controls on advanced semiconductors and GPUs, crucial for AI development, could hinder China's progress. These controls have impacted U.S. tech companies, including NVIDIA, AMD, and Intel, and affected the iShares U.S. Technology ETF.

Portfolio Pulse from Neil Dennis

March 12, 2024 | 6:08 pm

ASAN

BCAN

CLRO

RGLS

SPPL

Asana, Inc. (ASAN) shares fell by 11% following soft FY25 revenue guidance, despite beating quarterly earnings and sales estimates. Other stocks showed significant movement, with ClearOne, Inc. (CLRO) and Regulus Therapeutics Inc. (RGLS) among the top gainers, while BYND Cannasoft Enterprises Inc. (BCAN) and Simpple Ltd. (SPPL) led the losers. The market saw a mix of positive and negative financial results, strategic moves, and guidance updates.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:07 pm

LUV

ORCL

SMH

TSM

U.S. stocks experienced gains, led by a tech rally, despite mixed reactions to a higher-than-expected inflation report. The S&P 500 and Nasdaq 100 both rose by 0.9%, with the VanEck Semiconductor ETF (SMH) up 2%. Inflation data showed a 3.2% year-on-year increase, surpassing expectations. Treasury yields rose, and the market anticipates a June rate cut. Notable stock movements included Oracle Corp. (ORCL) up 12%, Taiwan Semiconductor (TSMC) up 3%, and Southwest Airlines (LUV) down 15%.

Portfolio Pulse from Piero Cingari

March 12, 2024 | 6:04 pm

BYDDY

HMC

NSANY

Nissan Motor Co Ltd (OTC:NSANY) and Honda Motor Co Ltd (NYSE:HMC) are considering production cuts in China due to increased competition from electric vehicle manufacturers like BYD Company (OTC:BYDDY). Nissan plans a 30% reduction, about 500,000 cars, and Honda looks at a 20% cut, around 1.2 million vehicles. This decision comes as both companies face declining sales in China, with Nissan's sales dropping 16.1% and Honda's by 10% last year. Nissan is also planning to restructure its production with local partners to focus on exports.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 6:04 pm

RCMT

RCM Technologies (NASDAQ:RCMT) is scheduled to release its quarterly earnings report on March 13, 2024, with an estimated EPS of $0.62. The company's past performance shows a pattern of beating EPS estimates, leading to significant stock price movements. Shares are currently trading at $27.79, reflecting a 129.75% increase over the last 52 weeks. Investors are optimistic, especially considering the company's history of positive post-earnings price changes.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:01 pm