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TSLA

Sunrun has launched the nation's first vehicle-to-home power plant in partnership with Ford and BGE, using customer-owned F-150 Lightning electric trucks to alleviate grid demand. The program, funded by the Department of Energy, aims to expand nationwide and demonstrates the potential of electric vehicles in grid resiliency and utility price stability.

Portfolio Pulse from Chris Katje

July 30, 2024 | 8:27 pm

PEPG

PepGen Inc. (NASDAQ:PEPG) announced positive clinical data from the first dose cohort of PGN-EDO51 in its Phase 2 trial for Duchenne muscular dystrophy. The treatment was well tolerated, and all patients continued to the long-term extension portion of the trial. The company will host a conference call to discuss the data.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:26 pm

MSFT

Microsoft reported strong Q4 earnings with revenue and EPS beating estimates. Cloud revenue grew 21% YoY, but Azure growth missed expectations, causing a drop in after-hours trading. The company returned $8.4 billion to shareholders and highlighted its focus on AI leadership.

Portfolio Pulse from Chris Katje

July 30, 2024 | 8:24 pm

TECX

Tectonic Therapeutic, Inc. (NASDAQ: TECX) has received FDA clearance for its Investigational New Drug (IND) application for TX45, an Fc-relaxin fusion protein aimed at treating Group 2 Pulmonary Hypertension due to Heart Failure with Preserved Ejection Fraction (PH-HFpEF). The company plans to initiate a global Phase 2 clinical trial in Q3 2024, with topline results expected in 2026. Phase 1a results in healthy volunteers are expected this September, and Phase 1b results in mid-2025.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:22 pm

MGNX

MacroGenics provided an update on its Vobramitamab Duocarmazine (vobra duo) program, including the TAMARACK study. The study reached its primary endpoint, leading to the discontinuation of additional dosing for remaining participants. The company plans to present data at the ESMO Congress 2024 and expects to have mature efficacy findings later in the year.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:20 pm

AMD

AMD reported a record revenue of $2.8 billion in its data center segment, marking a 115% year-over-year increase. This growth was driven by strong sales of AMD Instinct GPUs and 4th Gen AMD EPYC CPUs.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:19 pm

INCY

MGNX

MacroGenics, Inc. (NASDAQ:MGNX) announced the achievement of $100 million in milestones from Incyte Corporation related to the development progress of ZYNYZ (retifanlimab-dlwr). This milestone is part of a 2017 collaboration agreement, and MacroGenics remains eligible for additional milestones and royalties. The company expects this milestone to support its cash runway into 2026.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:19 pm

FGEN

FibroGen announced that its drug Pamrevlumab did not meet the primary endpoint in two late-stage pancreatic cancer studies. The company will terminate Pamrevlumab R&D, reduce its U.S. workforce by 75%, and implement a significant cost reduction plan.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 8:15 pm

GBTC

Cryptocurrency markets are down, with Bitcoin, Ethereum, and Dogecoin experiencing declines. Grayscale is introducing a new Bitcoin ETF. Despite the downturn, analysts suggest Bitcoin is on track for a September breakout. Notable developments include Russia greenlighting crypto for cross-border payments and the SEC amending its complaint against Binance.

Portfolio Pulse from Khyathi Dalal

July 30, 2024 | 8:13 pm

TSLA

Tesla shares are trading lower due to several recent announcements. CEO Elon Musk confirmed the cancellation of the Plaid+ variant of the Model S, with the high-performance niche to be filled by the Roadster in 2025. Additionally, Tesla is recalling 1.85 million vehicles in the U.S. due to a risk of unlatched hoods obstructing drivers' views. Despite an over-the-air update, the recall has negatively impacted market sentiment. Tesla's recent earnings report showed an EPS of 52 cents, missing estimates of 62 cents, but revenue of $25.500 billion exceeded forecasts of $24.726 billion.

Portfolio Pulse from Vaishali Prayag

July 30, 2024 | 8:09 pm