Market-Moving News for September 21st
Portfolio Pulse from ryanfaloona@benzinga.com
Google is considering dropping Broadcom as its AI chip supplier, causing Broadcom's shares to drop by 8.5%. FedEx shares rose by 6% after reporting mixed Q1 results and issuing guidance. Kezar Life Sciences and Everest Medicines have entered into an agreement to develop and commercialize Zetomipzomib for Lupus Nephritis in Greater China, South Korea, and Southeast Asia, leading to a 28% rise in Kezar's shares.
September 21, 2023 | 12:37 pm
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Google is considering dropping Broadcom as its AI chip supplier, leading to an 8.5% drop in Broadcom's shares.
Broadcom's potential loss of Google as a client for its AI chips could significantly impact its revenues and profitability, leading to a negative impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
FedEx shares rose by 6% after the company reported mixed Q1 results and issued guidance.
FedEx's mixed Q1 results and the issuance of guidance have been positively received by the market, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Kezar Life Sciences and Everest Medicines have entered into an agreement to develop and commercialize Zetomipzomib for Lupus Nephritis in Greater China, South Korea, and Southeast Asia, leading to a 28% rise in Kezar's shares.
The partnership between Kezar Life Sciences and Everest Medicines to develop and commercialize Zetomipzomib in various Asian markets is expected to boost Kezar's revenues and profitability, leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100