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TSVT

2seventy bio announced that CEO Nick Leschly will step down and transition to Chairman of the Board. CFO Chip Baird has been promoted to COO.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 11:19 am

DTIL

Precision Biosciences hosted a virtual R&D day, showcasing new preclinical data for its wholly-owned and partnered programs. The company also expanded its portfolio with PBGENE-PMM, a potential treatment for primary mitochondrial myopathy.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 11:16 am

PLX

Protalix BioTherapeutics has announced the appointment of Eliot Richard Forster as the new Chairman of its Board, effective from September 14, 2023. The current Chairman, Zeev Bronfeld, will retire on the same day.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 10:54 am

BABA

BIDU

FXI

Alibaba Group Holding Ltd (BABA) is undergoing a strategic shift under its new CEO, Eddie Wu, focusing on an AI-first approach and user experience. The company faces competition from ByteDance Ltd in social media and Baidu Inc (BIDU) in AI. Alibaba plans to prioritize AI-driven tech businesses, internet platforms, and its global commerce network. The company is also recovering from a tech crackdown imposed by Beijing and the departure of former CEO Daniel Zhang. Alibaba's shares traded lower by 0.56% at $88.21 premarket on Tuesday.

Portfolio Pulse from Anusuya Lahiri

September 12, 2023 | 10:47 am

AAPL

ORCL

QQQ

SPY

TSLA

WRK

The market outlook remains uncertain with stock index futures indicating a lower opening on Tuesday. Apple Inc. and Oracle Corp.'s guidance are influencing the tech sector sentiment. Traders are cautious ahead of the August consumer price inflation report. The Nasdaq Composite and S&P 500 recorded consecutive gains, while the Dow Industrials Average notched its third consecutive session of gains. Fund Strat predicts higher probabilities of gains this week. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF moved down. Oracle, Apple, Tesla, and WestRock Company are in focus.

Portfolio Pulse from Shanthi Rexaline

September 12, 2023 | 10:47 am

ORCL

SAP

TSLA

US markets ended higher on Monday, with the Nasdaq boosted by Tesla's surge due to optimism around artificial intelligence. Asian markets were mixed, with gains in Japan and Australia, but declines in China and Hong Kong. European markets were also mixed, with SAP SE shares falling due to Oracle's weak revenue forecast. Commodities saw a rise in energy prices, while US futures traded in red. Investors are awaiting August CPI data for insights into the Federal Reserve's rate hike plans.

Portfolio Pulse from Akanksha Bakshi

September 12, 2023 | 10:42 am

RSLS

Reshape Lifesciences has filed for an offering on a best efforts basis of up to 8.5 million units. The details of the offering can be found on the SEC website.

Portfolio Pulse from Charles Gross

September 12, 2023 | 10:05 am

AER

General Electric (GE) is selling 40.68 million shares of AerCap Holdings (AER) at $59 per share, a 4.5% discount to AerCap’s closing price on September 11. The secondary offering was upsized from the previously announced 32.4 million shares. AerCap will repurchase 15.25 million of its ordinary shares from the underwriters at $57.53 per share. The gross proceeds for GE will be about $2.4 billion.

Portfolio Pulse from Shivani Kumaresan

September 12, 2023 | 9:48 am

DOGEUSD

TWTR

Elon Musk's new biography reveals his skepticism about using blockchain technology for Twitter, despite his interest in cryptocurrencies like Dogecoin. The book also discusses Sam Bankman-Fried, former CEO of FTX, and his enthusiasm for incorporating blockchain into Twitter. Musk's primary banker at Morgan Stanley, Michael Grimes, tried to facilitate a meeting between Musk and Bankman-Fried, who was willing to contribute $5 billion to the potential acquisition of Twitter.

Portfolio Pulse from Mehab Qureshi

September 12, 2023 | 9:39 am

AMD

ARKG

ARKQ

NVDA

Ark Invest, led by Cathie Wood, has increased its stake in Advanced Micro Devices (AMD) while continuing to divest from Nvidia (NVDA). Ark purchased 14,978 shares of AMD, valued at $1.58 million, through its Ark Autonomous Technology and Robotics ETF (ARKQ). Meanwhile, Ark's Ark Genomic Revolution ETF (ARKG) sold 21,014 Nvidia shares worth $9.79 million last week. Ark has been selling Nvidia shares since October 2022 due to the company's high valuation and the attractiveness of other smaller AI plays.

Portfolio Pulse from Shanthi Rexaline

September 12, 2023 | 7:28 am