Streetbeat News

Partnerships

AAP

Advance Auto Parts (AAP) shares are experiencing an uptick after reports emerged that the company is nearing a settlement with Third Point, which includes the addition of three new board members.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 7:57 pm

ASLN

Piper Sandler released a note on ASLAN Pharmaceuticals, indicating the company's belief in the value and differentiation of its once-monthly subcutaneous Eblasakimab compared to Dupixent, which is administered every other week. This suggests ASLAN Pharmaceuticals is open to partnerships or acquisition based on the unique positioning of Eblasakimab.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 6:45 pm

MRNA

Moderna shares are trading higher following the announcement of a new Phase 2/3 trial of pembrolizumab (Keytruda) by Merck in combination with Moderna's V940 for cutaneous squamous cell carcinoma. The trial's posting on clinicaltrials.gov and Jefferies' positive outlook on the program's investment and confidence have contributed to the optimism.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 6:09 pm

MRK

MRNA

Merck & Co Inc (NYSE:MRK) and Moderna Inc (NASDAQ:MRNA) are collaborating on a new clinical trial for V940, an individualized neoantigen therapy, combined with pembrolizumab for treating advanced cutaneous squamous cell carcinoma. The Phase 2 trial will evaluate the safety and efficacy of this combination compared to standard care. The trial is expected to start next month and conclude by 2029. Analysts from Jefferies and RBC Capital have expressed positive views on this development, highlighting the potential of the therapy and the growing incidence of cSCC. MRNA shares rose 8.96% to $112.26.

Portfolio Pulse from Vandana Singh

March 11, 2024 | 6:09 pm

MRNA

Moderna's shares are up due to the announcement of a new Phase 2/3 trial for pembrolizumab (Keytruda) plus Moderna's V940 in cutaneous squamous cell carcinoma, as listed on clinicaltrials.gov. Jefferies' commentary on the trial suggests increased investment and confidence in the program.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 6:07 pm

BA

SPY

FAA Administrator Whitaker announced an expected agreement on milestones with Boeing within 30 days, crucial for resuming increased production of the 737 model. This development is significant for Boeing's operational and financial outlook, potentially impacting its stock performance.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:55 pm

JFBR

MESO

PIK

Mesoblast Limited's shares surged by 13.4% after announcing FDA support for an accelerated approval pathway for rexlemestrocel-L. Other stocks also saw significant movements, with Kidpik Corp. leading the gainers with a 238% increase following a reverse stock split announcement. On the losers' side, Jeffs' Brands Ltd dropped by 45.2%. The market movements were influenced by various factors including FDA approvals, strategic plans, financial results expectations, and investment proposals.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 5:41 pm

BABA

E-House's restructuring efforts have stalled due to its inability to use its CRIC asset as collateral for a rights issue, necessary for raising funds. The company faces significant financial difficulties, with over 5 billion yuan in interest-bearing liabilities and upcoming loans and convertible notes. Its situation is exacerbated by the real estate market downturn, affecting its main revenue source from property developers. E-House had planned to raise funds through a rights issue and inject its assets into a joint venture with Alibaba, but the plan is now on hold.

Portfolio Pulse from The Bamboo Works

March 11, 2024 | 5:20 pm

AMC

AMC Theatres announced the expansion of its grocery store popcorn distribution to include Publix, Kroger, and Amazon.com, more than doubling its retail outlets. This move comes after a successful nationwide rollout to over 2,700 Walmart stores. The expansion includes AMC Theatres Microwave Popcorn and Ready-To-Eat Popcorn varieties, now available in several flavors at these new retail locations and online. The decision is based on strong consumer demand for AMC's popcorn products.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:10 pm

DADA

Jefferies has maintained its Buy rating for Dada Nexus (NASDAQ:DADA) but lowered its price target from $8.60 to $2.90. Dada Nexus, a leading crowdsourced delivery service in China, saw its shares trading up 1.3% at $2.34. The new price target suggests a potential 23.93% increase. Dada Nexus operates Dada Now and JD Daojia, with significant ownership by JD.com and Walmart Inc. It competes with SF Intra-City, Didi, and Meituan in various segments.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 5:00 pm