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INSM

Insmed Incorporated shares are trading lower following the announcement of additional results from the ASPEN study of brensocatib in patients with non-cystic fibrosis bronchiectasis.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 4:36 pm

STLA

Stellantis NV (NYSE:STLA) and CEA have announced a five-year collaboration to develop next-generation EV battery cells. The partnership aims to create advanced battery cells with higher performance, longer lifespan, and lower carbon footprint, supporting Stellantis' strategic plan to achieve carbon net zero by 2038.

Portfolio Pulse from Shivani Kumaresan

July 03, 2024 | 4:33 pm

XPEV

XPeng, Inc. (NYSE:XPEV) shares are trading higher after the company reported strong vehicle delivery figures for June and the first half of 2024. XPeng delivered 10,668 Smart EVs in June, a 24% increase year-over-year, and 52,028 Smart EVs in the first half of 2024, a 26% increase from last year. The company also debuted the M03 model in its Mona series. Despite the positive news, analysts have a cautious outlook with an average 12-month price target of $7.65.

Portfolio Pulse from Erica Kollmann

July 03, 2024 | 4:30 pm

KAYS

TCNNF

Trulieve Cannabis Corp. is expanding its retail footprint in Florida amidst growing support for recreational cannabis legalization. The company opened two new medical marijuana shops and plans a ribbon-cutting ceremony for another location. Trulieve has invested heavily in the #YesOn3 ballot initiative. Meanwhile, Kaya Holdings announced the opening of its psilocybin treatment center in Oregon.

Portfolio Pulse from Jelena Martinovic

July 03, 2024 | 4:28 pm

AAPL

INTC

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) is expected to see significant growth due to expanding AI demand and advancements in 2nm technology. UBS has given TSMC a 'Buy' rating with a target price of 1,070 yuan, citing strong demand for cloud AI and high-performance computing applications. TSMC's gross profit margin is expected to rise, and its capital expenditure has been revised from $35 billion to $37 billion. TSMC's wafer production capacity is projected to increase significantly by 2025, driven by demand from Nvidia, Intel, and Apple.

Portfolio Pulse from Anusuya Lahiri

July 03, 2024 | 4:27 pm

ALB

ALTM

SQM

Shares of lithium companies are trading higher, likely due to strength in the EV market.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 4:22 pm

SLB

TTE

Schlumberger's OneSubsea joint venture has secured a contract from TotalEnergies for a Subsea Production System in Angola. The project aims to enhance production sustainability and is expected to commence in 2028 with an initial output of 70,000 barrels of oil per day. Schlumberger's stock saw a slight increase following the announcement.

Portfolio Pulse from Lekha Gupta

July 03, 2024 | 4:14 pm

BIIB

LLY

The FDA has approved Eli Lilly's Kisunla (donanemab) for early symptomatic Alzheimer's disease, making it the second anti-beta-amyloid monoclonal antibody approved in recent years. Kisunla shows significant efficacy in reducing amyloid plaques and slowing disease progression. Despite its higher cost compared to Biogen's Leqembi, Kisunla offers the potential for lower long-term costs due to the option of stopping treatment early. Analysts see this approval as a positive development for the Alzheimer's treatment market.

Portfolio Pulse from Vandana Singh

July 03, 2024 | 4:13 pm

CRWD

Financial giants have shown a bullish interest in CrowdStrike Holdings (NASDAQ:CRWD) with significant options trading activity. Analysis reveals 39 unusual trades, with 48% bullish and 38% bearish. The trades include 10 puts valued at $556,355 and 29 calls valued at $1,699,087. The targeted price range is $95.0 to $420.0. The stock is currently up 0.76% at $387.98, with RSI indicators suggesting it may be overbought. Analysts have set an average price target of $412.8.

Portfolio Pulse from Benzinga Insights

July 03, 2024 | 4:01 pm

MRNA

Moderna, Inc. (NASDAQ:MRNA) received a $176 million award to boost its Influenza vaccine development. The company is working on an mRNA-based vaccine against the H5 influenza virus, with Phase 1/2 study results expected in 2024. Additionally, Moderna's RSV vaccine received a positive opinion from the Committee for Medicinal Products for Human Use, potentially leading to marketing authorization in the EU.

Portfolio Pulse from Dylan Berman

July 03, 2024 | 4:00 pm