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NVS

OKUR

OnKure Therapeutics Inc (NASDAQ:OKUR) has completed a merger with Reneo Pharmaceuticals and initiated trading. Oppenheimer has given OnKure an Outperform rating with a $35 price target, highlighting its innovative breast cancer treatment, OKI-219. The company has secured $65 million in private placement, ensuring a cash runway through Q4-2026. OKI-219 is noted for its selectivity in targeting PI3Kα mutations, offering a promising alternative to Novartis AG's (NYSE:NVS) alpelisib, which faces toxicity concerns.

Portfolio Pulse from Vandana Singh

October 10, 2024 | 6:43 pm

AYRWF

CRLBF

TCNNF

VRNOF

Florida cannabis companies, including Cresco Labs, Trulieve Cannabis Corp., Ayr Wellness, and Verano Holdings, are closing operations due to Hurricane Milton. Despite the storm, Governor DeSantis refused to extend the voter registration deadline, affecting the upcoming elections and cannabis legalization vote.

Portfolio Pulse from Maureen Meehan

October 10, 2024 | 6:37 pm

FSLR

SEDG

SolarEdge Technologies (SEDG) shares fell by 5.47% due to a sector-wide decline in clean energy stocks, triggered by a price target reduction for First Solar (FSLR). The downgrade raised concerns about the solar energy industry, affecting companies like SolarEdge, which rely on robust solar panel installations.

Portfolio Pulse from Henry Khederian

October 10, 2024 | 6:25 pm

DJT

SPY

Donald Trump, the Republican Presidential Nominee, announced plans to reward U.S.-based carmakers and manufacturers with expanded R&D tax credits. This includes the ability to write off 100% of the cost of heavy machinery and equipment necessary for building a plant in the first year, along with full expensing for manufacturing investments.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 6:21 pm

CNPOF

HITI

Cheech & Chong are opening their first cannabis shop in Maine, while new cannabis stores are also opening in Connecticut, New York, and Toronto. RIV Capital Inc. and High Tide Inc. are expanding their cannabis retail operations.

Portfolio Pulse from Jelena Martinovic

October 10, 2024 | 6:20 pm

BTCUSD

SEC Chairman Gary Gensler expressed skepticism about cryptocurrencies, including Bitcoin, as widely accepted payment forms, emphasizing their role as a store of value. He defended the SEC's enforcement actions against crypto fraud and stated that existing regulatory frameworks are sufficient.

Portfolio Pulse from Khyathi Dalal

October 10, 2024 | 6:15 pm

AMD

CELH

DIA

FSLR

IWM

NET

QQQ

SPY

XLE

U.S. stocks dipped as inflation slowed less than expected and oil prices spiked due to hurricane disruptions and Middle East tensions. Major indices like the S&P 500, Dow Jones, and Nasdaq 100 fell, while energy stocks outperformed. ETFs such as SPY, DIA, QQQ, and IWM also declined, with XLE rising. Notable stock movements included AMD's 3% drop, CELH's 12% surge, NET's 7% rise, and FSLR's 10% fall.

Portfolio Pulse from Piero Cingari

October 10, 2024 | 6:15 pm

AMD

SMCI

Supermicro has launched a new series of servers and GPU-accelerated systems featuring AMD EPYC 9005 Series CPUs and Instinct MI325X GPUs, aimed at enhancing AI and cloud data center performance. The new H14 product line offers improved performance, density, and cooling solutions.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 6:07 pm

DELL

Dell Technologies has expanded its AI Factory with new PowerEdge servers to enhance enterprise AI adoption. The new servers, equipped with AMD 5th Generation EPYC processors, offer improved AI performance and efficiency. Dell's Generative AI Solutions simplify AI deployment, and the Enterprise Hub now supports advanced models with AMD Instinct accelerators.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 6:05 pm

AMD

HPE

Hewlett Packard Enterprise (HPE) has launched the ProLiant Compute XD685 Server, which features AMD EPYC CPUs and Instinct MI325X accelerators. This server is designed to optimize large AI model training and offers both air and liquid cooling options. It is available for order now, with general availability expected in Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 6:04 pm