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ARGX

JNJ

Johnson & Johnson announced positive results from Phase 3 VIVACITY and Phase 2 DAHLIAS studies of nipocalimab for treating generalized myasthenia gravis and Sjögren’s disease, respectively. Nipocalimab showed significant clinical effects, marking it as a new contender in the FcRn antagonist category, competing with Argenx SE's Vyvgart Hytrulo. Vyvgart Hytrulo, approved by the FDA in June 2023 for gMG, is expected to generate $2.5 billion in revenue. The news impacted JNJ and ARGX stock prices.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 6:10 pm

AMZN

BABA

PDD

Alibaba's Q4 earnings report is anticipated with hope by investors after a prolonged downturn in its stock value. Despite a broad market rout in China, Alibaba's shares showed resilience, with a slight gain in the U.S. and minimal loss in Hong Kong. The earnings expectations have slightly decreased, but Alibaba's co-founders have shown confidence by purchasing significant amounts of stock. The company is undergoing restructuring under new CEO Eddie Wu, focusing on e-commerce and considering selling non-core assets. Competitors like PDD Holdings and JD.Com are mentioned as part of the competitive landscape, while Alibaba's efforts in cloud computing and AI are highlighted as potential growth areas.

Portfolio Pulse from Neil Dennis

February 05, 2024 | 6:01 pm

APD

DMK

NSTG

Air Products and Chemicals, Inc. (APD) shares fell by around 15% after reporting Q1 financial results below expectations and lowering FY24 EPS guidance. Other stocks showed significant movements, with notable gainers including Yield10 Bioscience (YTEN) and 4D Molecular Therapeutics (FDMT), and losers like NanoString Technologies (NSTG) and DMK Pharmaceuticals (DMK) due to bankruptcy proceedings.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 5:56 pm

DOCU

DocuSign shares are trading lower after reports emerged that acquisition discussions with Bain Capital and Hellman & Friedman have stalled. This news has negatively impacted investor sentiment towards DocuSign, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:53 pm

INCY

MOR

NVS

MorphoSys AG's stock surged following a report that Novartis AG is in advanced talks to acquire the cancer-drug developer, potentially outbidding Incyte Corporation. MorphoSys, known for its lymphoma drug Monjuvi and the development of Pelabresib for myelofibrosis, saw its shares reach a new 52-week high amid heavy trading volume.

Portfolio Pulse from Erica Kollmann

February 05, 2024 | 5:31 pm

KPTI

Traders are closely monitoring Karyopharm Therapeutics (KPTI) following analyst comments suggesting potential acquisition interest from larger cancer companies for its drug Selinexor, in light of the MOR takeover interest.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:23 pm

CHEA

DMK

EVBG

FDMT

NSTG

PEGY

U.S. stocks traded lower with the Nasdaq Composite down over 100 points. Health care shares rose by 0.4%, while materials shares fell by 2.6%. ISM services PMI in the US rose to 53.4, beating estimates. Everbridge, Inc. (EVBG) surged 18% after being acquired by Thoma Bravo for $1.5 billion. 4D Molecular Therapeutics, Inc. (FDMT) jumped 73% on positive clinical trial data. Chenghe Acquisition Co. (CHEA) gained 63% after merger approval. NanoString Technologies, Inc. (NSTG), DMK Pharmaceuticals Corporation (DMK), and Pineapple Energy Inc. (PEGY) saw significant drops due to restructuring and financial distress.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 5:08 pm

CSCCF

Capstone Copper Corp. (OTC:CSCCF) has entered into a $375 million Canadian dollar financing deal with Orion Mine Finance, led by RBC Capital Markets, to support its Chilean expansion, particularly the Mantoverde Development Project (MVDP). The deal involves issuing 47,620,000 common shares at CA$6.30 each, aiming to increase copper production by over 40% and reduce operating costs. The offering is expected to close on Feb. 8, 2024, with proceeds directed towards growth initiatives in Chile.

Portfolio Pulse from Stjepan Kalinic

February 05, 2024 | 5:04 pm

TPR

Evercore ISI Group upgraded Tapestry (NYSE:TPR) to Outperform with a new price target of $50.00, up from $30.00. Tapestry's shares have risen 1.35% in the last 24 hours to $40.55. The firm owns brands like Coach, Kate Spade, and Stuart Weitzman, and recently agreed to acquire Capri, adding brands like Michael Kors, Versace, and Jimmy Choo.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 5:00 pm

CTLT

LLY

NVO

Eli Lilly's stock (LLY) is trading higher today, with no specific news driving the movement. Investors are anticipating the Q4 2023 results and guidance, especially regarding the weight-loss drug Zepbound. Zepbound, competing in the anti-obesity market, is priced lower than Novo Nordisk's Wegovy. Both companies are expanding production due to demand and supply constraints. Novo Nordisk is acquiring manufacturing sites from Novo Holdings, which is buying Catalent Inc. Eli Lilly's diabetes drug Mounjaro is facing limited availability due to high demand.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 4:58 pm