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AKRO

Akero Therapeutics Inc (NASDAQ:AKRO) shares surged after announcing positive week 96 results from its Phase 2b HARMONY study of efruxifermin (EFX) for MASH, fibrosis stage 2 or 3. The study showed significant improvement in fibrosis without worsening of MASH, with response rates and placebo-adjusted effect sizes increasing notably from week 24 to week 96. EFX was well-tolerated with no deaths and balanced serious adverse events across dose groups. Despite positive results in the HARMONY study, EFX did not show statistical significance in the SYMMETRY Phase 2b trial for improving liver scarring in compensated cirrhosis due to MASH. AKRO shares rose 13.20% to $31.53.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 4:28 pm

NFE

New Fortress Energy's stock trades lower following a $500 million proposed offering of senior secured notes and a downgrade by Deutsche Bank from Buy to Hold, with a reduced price target from $40 to $35.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:25 pm

RNLX

Renalytix plc (NASDAQ:RNLX), an AI-powered diagnostics company focusing on kidney disease, has received an unsolicited acquisition approach, causing its stock to soar. The company is evaluating the acquisition of its entire share capital by a large, publicly-listed strategic diagnostics company. Renalytix has initiated a formal sale process to explore all options, including a potential sale of the company or assets. The company's stock surged 26.0% to $1.32, with a session volume of 9.26 million, significantly higher than its average volume of 1.42 million. Additionally, Renalytix announced that its FDA de Novo Marketing authorized test, kidneyintelX.dkd, will be added to the US Government's 10-year Acquisition Contract for early-stage kidney disease bioprognostic testing services starting March 1, 2024.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 4:22 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) shares surged amid volatility in Trump-related stocks following Trump's wins in the Missouri and Idaho Republican caucuses and a Supreme Court ruling ensuring Trump remains on the Republican primary ballot in all states. The court stated that Congress, not states, has the authority to enforce the 14th Amendment provision against federal office-seekers. Phunware does not pay dividends but may engage in capital allocation programs like stock buybacks. Phunware's stock price increased by 105% to $14.51.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 4:22 pm

FANG

RBC Capital analyst Scott Hanold has reiterated an Outperform rating on Diamondback Energy (NASDAQ:FANG), maintaining a price target of $195.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:21 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher as Bitcoin (BTC) surpasses the $65,000 mark. MicroStrategy, holding 193,000 Bitcoins, bought an additional 3,000 Bitcoins recently, making its total Bitcoin value over $6 billion. The company aims to become the 'world's first Bitcoin development company.' Despite a slight revenue decline in FY23, MicroStrategy's stock is up 19% at $1,284.63, outperforming its peers in the Information Technology sector.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 4:21 pm

MSTR

MicroStrategy shares are trading higher due to an increase in the price of Bitcoin. This correlation highlights the impact of cryptocurrency market movements on MicroStrategy's stock performance.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:20 pm

NVDA

PANW

UNH

Nancy Pelosi and other Congress members have been actively trading Palo Alto Networks Inc (PANW) stock and options, with trades placed around the time of PANW's Q2 financial results. Pelosi's trades were disclosed after PANW's earnings report, which showed revenue and EPS beating estimates but with weaker guidance. The CEO of PANW hinted at a potential major government contract. Other Congress members also reported profitable trades in different stocks, highlighting their trading acumen. Additionally, UnitedHealth Group (UNH) reported a cybersecurity attack, working with Palo Alto Networks for resolution. Analysts have lowered price targets on PANW following its earnings.

Portfolio Pulse from Chris Katje

March 04, 2024 | 4:19 pm

AMAT

An executive from Applied Materials (AMAT) stated that the company benefited from being permitted to ship certain technologies to Chinese DRAM customers in the current quarter, which were previously restricted in 2023.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:19 pm

AAPL

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

The Market Clubhouse Morning Memo for March 4th, 2024, provides trading strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA based on a proprietary formula. It outlines potential price movements and targets for each asset, advising traders to monitor these stocks for breakouts or reversals. The memo also highlights a scheduled speech by Patrick Harker of the Fed, suggesting traders stay alert to market conditions and adapt strategies accordingly.

Portfolio Pulse from RIPS

March 04, 2024 | 4:19 pm