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The cryptocurrency market is experiencing a downturn, with major coins like Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) in the red. Despite this, an analyst predicts Ethereum could outperform Bitcoin (BTC) in the near future. Ethereum's upcoming Dencun upgrade is expected to improve transaction speeds and reduce costs, which may be driving whale accumulation of the asset. Ethereum's total value locked has also increased by 9.1% over the past month.

Portfolio Pulse from Khyathi Dalal

January 22, 2024 | 10:33 pm

VRM

Vroom, Inc. (NASDAQ:VRM) shares plummeted over 50% in after-hours trading following the announcement that the company is discontinuing its used vehicle dealership operations. The decision is part of the Value Maximization Plan to preserve liquidity and maximize stakeholder value. The plan includes halting transactions on vroom.com, liquidating vehicle inventory through wholesale channels, stopping vehicle acquisitions, and reducing the workforce. CEO Thomas Shortt cited the inability to raise necessary capital in the current market as the reason for the decision.

Portfolio Pulse from Ryan Gustafson

January 22, 2024 | 10:29 pm

IBTX

Independent Bank Gr (NASDAQ:IBTX) reported Q4 adjusted EPS of $0.62, missing the consensus estimate of $0.67 by 7.46%, and a 48.33% decrease from $1.20 per share a year ago. Sales were $118.67M, missing estimates by 4.16% and down 22.69% from $153.50M in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:11 pm

SMBK

SmartFinancial (NASDAQ:SMBK) reported Q4 adjusted EPS of $0.41, meeting analyst estimates, but representing a 46.05% decrease from the previous year. Sales were $39.10M, slightly beating estimates by 0.07% but showing a 12.61% decrease from the prior year's sales.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:09 pm

CARA

Needham analyst Joseph Stringer has maintained a Buy rating on Cara Therapeutics (NASDAQ:CARA) but has reduced the price target from $6 to $5.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:07 pm

AGYS

Agilysys, Inc. (NASDAQ:AGYS) reported Q3 earnings of $0.35 per share, surpassing estimates of $0.26. Sales reached $60.60 million, exceeding expectations and marking a 21.39% increase year-over-year. Gross margin improved to 62.5%, and free cash flow was $11.3 million. The company maintained its full-year 2024 revenue guidance and raised its adjusted EBITDA outlook. Despite positive results, AGYS shares dropped 3.10% in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 22, 2024 | 10:05 pm

BCTX

BriaCell Therapeutics has filed an S-3 form with the SEC for a mixed shelf offering, allowing the company to issue various types of securities up to a total of $200 million. This move could potentially dilute current shareholders but also provides the company with a mechanism to raise capital flexibly over time.

Portfolio Pulse from Charles Gross

January 22, 2024 | 10:04 pm

BMY

EXEL

Bristol Myers Squibb (BMY) and Exelixis, Inc. (EXEL) announced positive four-year follow-up results from the CheckMate -9ER trial for Opdivo and CABOMETYX in treating advanced renal cell carcinoma. The combination showed superior progression-free survival, objective response rates, and overall survival compared to sunitinib. The results, which also include health-related quality-of-life benefits, will be presented at the ASCO 2024 Genitourinary Cancers Symposium.

Portfolio Pulse from Charles Gross

January 22, 2024 | 10:02 pm

AMD

NVDA

Jim Breyer, CEO of Breyer Capital, expressed strong support for Nvidia (NVDA) and AMD (AMD) on CNBC's 'Squawk Box', citing their pivotal role in AI applications, especially in healthcare. Breyer praised Nvidia's software layer around their chips and AMD's potential in AI hardware growth, expecting both companies to thrive. KeyBanc analyst John Vinh noted AMD's competitive edge and $2 billion outlook for MI300 compute accelerators in 2024. Nvidia's stock closed slightly up, while AMD's closed down on Monday.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 9:59 pm

NFLX

Netflix shares have dropped in after-hours trading following a Bloomberg report that Netflix's Film Chief, Scott Stuber, is planning to leave the company to start a new venture.

Portfolio Pulse from Charles Gross

January 22, 2024 | 9:58 pm