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Colin Kaepernick has launched Lumi Story AI, an AI startup aimed at helping creators with storytelling, backed by a $4M seed funding round led by Seven Seven Six, the venture capital firm co-founded by Reddit co-founder Alexis Ohanian. Lumi Story AI aims to democratize storytelling by assisting creators with illustrations, graphics, and character creation. A beta version targeting the comic book sector has been launched, with plans to expand further.

Portfolio Pulse from Chris Katje

July 25, 2024 | 4:57 pm

LLY

VKTX

Eli Lilly and Company (NYSE:LLY) shares are trading lower on Thursday after Viking Therapeutics, Inc. (NASDAQ:VKTX) announced the advancement of its obesity treatment, VK2735, to Phase 3 trials. VK2735 showed promising results in reducing body weight and demonstrated safety and tolerability in both injectable and oral forms.

Portfolio Pulse from Dylan Berman

July 25, 2024 | 4:49 pm

BTCUSD

VanEck's new report forecasts Bitcoin (BTC) could reach $2.9 million by 2050, with scenarios ranging from $130,000 to $52 million. The projection is based on Bitcoin becoming a key player in the global financial system, settling 10% of international trade and 5% of domestic trade. Key risks include Bitcoin mining sustainability, community schisms, government regulation, and competition from other cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

July 25, 2024 | 4:49 pm

TCNNF

Florida Governor Ron DeSantis criticized the state's cannabis legalization initiative, Amendment 3, stating it should not have been allowed on the ballot due to misleading summaries. Despite his opposition, recent polls show strong support for the initiative. Trulieve Cannabis Corp has invested heavily in promoting the measure.

Portfolio Pulse from Maureen Meehan

July 25, 2024 | 4:42 pm

KDP

Keurig Dr Pepper Inc. (NASDAQ:KDP) reported better-than-expected Q2 revenue with a 3.5% growth, driven by a consumer-centric innovation model. Adjusted EPS aligned with expectations, and the company reaffirmed its fiscal 2024 guidance.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2024 | 4:39 pm

GM

LEA

Lear Corporation (NYSE:LEA) reported strong Q2 earnings, beating EPS estimates but missing revenue expectations. The company introduced new products under its thermal comfort strategy and reached a tentative agreement with a union, allowing General Motors (NYSE:GM) to resume production. Despite reducing its FY24 net sales forecast, LEA shares are trading higher.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2024 | 4:31 pm

IBM

IBM shares rose after reporting better-than-expected Q2 results, driven by strong AI bookings and solid performance in software and infrastructure. Analysts from Goldman Sachs, RBC Capital Markets, Stifel, and BofA Securities raised their price targets, citing positive medium-term growth prospects despite current small revenue contributions from AI.

Portfolio Pulse from Priya Nigam

July 25, 2024 | 4:19 pm

FFIV

F5 has been named a vendor on the Department of Defense (DoD) Enterprise Software Initiative Blanket Purchase Agreement (BPA) awarded to Carahsoft Technology. The agreement is valid through September 4, 2027.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 4:03 pm

COSM

Cosmos Health has signed a distribution agreement with ProMed Trading Company to distribute its Sky Premium Life food supplement products in Qatar.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2024 | 3:48 pm

DVAL

FTXR

GM

MADE

RPV

VLUE

General Motors (GM) is facing pressure in China, leading to a $210 million loss in the first half of the year. Analysts from Bank of America and Goldman Sachs suggest GM should consider exiting the Chinese market due to structural issues. Despite this, both firms maintain a Buy rating on GM, citing strong performance in other regions and ongoing investments in EVs and AVs. GM's revenue beat estimates for the second quarter. ETFs tracking GM showed mixed performance.

Portfolio Pulse from Michael Juliano

July 25, 2024 | 3:44 pm