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TSM

TSMC has formed a task force to accelerate the development and production of its 2nm-class process technology. The company plans to start pilot production at two fabs in 2024 and initiate volume production in 2025. TSMC is also working on multiple 2nm-class projects, including N2, N2P, and N2X. The move comes amid intensified competition in the field of leading-edge process technologies, particularly from Intel Foundry Services and Samsung Foundry.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 3:49 pm

AMZN

BKE

DIS

HNST

INTC

MRNA

MSFT

NVS

PFE

XPEV

YELL

Moderna and Pfizer's updated COVID-19 vaccines show effectiveness against new variants. Novartis plans to spin off its Sandoz unit in October. Amazon is bolstering its social commerce capabilities. Instacart is reportedly preparing for an IPO. Honest Company is relying on Walmart to boost its financials. SpaceX's valuation is on par with Intel and Disney. YELLOW Corp received a $1.3 billion acquisition offer. Microsoft is selling a new version of Databricks software. XPeng, Estee Lauder, Deere & Co, and Buckle Inc reported their earnings.

Portfolio Pulse from Vandana Singh

August 18, 2023 | 2:20 pm

EWC

META

Residents of the Northwest Territories in Canada are struggling to access local news due to Meta's decision to block news content on its platforms in response to the federal government's Online News Act. The Act requires tech giants to pay for news content shared on their platforms. The blockage is particularly concerning as wildfires threaten the region and residents are unable to access critical information. Experts suggest that Canadian media companies could unite to create their own social media platform.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 1:49 pm

CEI

Camber Energy, Inc. (NYSE:CEI) has released additional information to help identify and combat potential short selling of the company's stock. Independent reports suggest that Merrill Lynch, TD Ameritrade, Charles Schwab, E-Trade, Apex, Wedbush, and National Financial Services have the largest trade imbalances regarding the trading of Camber's stock. The company has provided contact information for the Chief Compliance Officer of each organization and encourages shareholders to demand an internal investigation.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 12:34 pm

LNTH

Progenics Pharmaceuticals, a subsidiary of Lantheus (LNTH), has announced it will discontinue the production and promotion of Azedra and will be winding down its Somerset manufacturing site due to limited usage and associated fixed costs. The company plans to continue manufacturing Azedra into Q1 of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 11:37 am

TSLA

Former Tesla employees have described challenging working conditions during Elon Musk's 'production hell' periods, including long hours, intense pressure, and instances of on-the-spot firings. One worker reported colleagues sleeping on the factory floor after 12-hour shifts, while another recalled a raw sewage leak that workers were told to continue working through.

Portfolio Pulse from Benzinga Neuro

August 18, 2023 | 11:13 am

META

Twitter co-founder Jack Dorsey has left Instagram after 12 years, also discontinuing use of WhatsApp and Facebook. This move, similar to Elon Musk's stance against Meta Platforms Inc., has sparked controversy. Dorsey's decision seems influenced by Musk's criticism of Meta. Earlier this year, a Stanford research team reported that Instagram had over three times the number of accounts dedicated to selling child sex abuse material than Twitter.

Portfolio Pulse from Ananya Gairola

August 18, 2023 | 6:30 am

NXU

Nxu has announced a strategic shift to focus on its electric vehicle (EV) charging infrastructure technology. The company believes this move will position it better in the growing EV market.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 9:14 pm

EXPR

Express, Inc. (EXPR) has provided preliminary Q2 2023 results, expecting net sales to be in the range of $400M-$450M and diluted loss per share to be between $0.50-$0.60. The company has also announced strategic actions to deliver $200M in annualized savings by 2025, including a 1-for-20 reverse stock split. The company has already identified and implemented $80M for 2023 and $120M for 2024. The cost reductions for 2024 include a workforce reduction expected to generate savings of approximately $30M.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 8:19 pm

SELB

Selecta Biosciences Inc (NASDAQ:SELB) has announced a strategic initiative to maximize stockholder value by focusing on its gout treatment candidate, SEL-212. The company plans to suspend further investment in other pipeline assets to focus on potential licensing and corporate development activities. This is expected to extend its cash runway into 2027. Selecta will continue to develop SEL-212 in partnership with Sobi, with a BLA submission expected in the first half of 2024. The company will also continue the development of IdeXork under a licensing agreement with Astellas Gene Therapies.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 5:04 pm