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META

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XLC

Meta has paused the launch of its AI assistant, Meta AI, in Europe due to concerns from the Irish Data Protection Commission about using user data from Facebook and Instagram. This decision follows advocacy group NOYB's push for scrutiny of Meta's data practices. Meta's postponement highlights the tension between technological advancement and European data privacy regulations.

Portfolio Pulse from Shivani Kumaresan

June 14, 2024 | 5:32 pm

ADBE

Adobe Inc (NASDAQ: ADBE) reported better-than-expected fiscal second quarter results, with revenue growing 10% YoY to $5.31 billion and adjusted earnings of $4.48 per share. The company also raised its full-year guidance, expecting adjusted earnings per share between $18.00 and $18.20 on revenue between $21.40 billion and $21.50 billion. Adobe's AI-driven products are seeing robust demand, and the company has not observed any significant economic changes affecting its business.

Portfolio Pulse from Upwallstreet

June 14, 2024 | 5:19 pm

KYTX

Kyverna Therapeutics (NASDAQ:KYTX) shares are falling after the company presented data on its lead CAR T-cell therapy candidate, KYV-101, at an industry symposium. The stock has dropped 35.5% to $9.32, continuing its decline since its IPO in February.

Portfolio Pulse from Erica Kollmann

June 14, 2024 | 5:17 pm

NFE

New Fortress Energy (NFE) has announced that it will begin its first LNG production in the coming days and expects the first cargo delivery in July. The company has also completed pre-commissioning activities for its Fast LNG unit offshore Altamira, Mexico.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 5:01 pm

HMC

TM

TSLA

VFS

VinFast Auto Ltd. (NASDAQ: VFS) shares are soaring after the company announced anticipated sustained growth for the next five years and nearing its break-even point. The company expects a 30x to 40x increase in U.S. sales this year, reaching over $6.4 million in 2023. VinFast is also strengthening its manufacturing facilities to leverage government incentives in countries like India, Indonesia, and the Philippines. The company aims to compete with Tesla (NASDAQ: TSLA) and Honda (NYSE: HMC) in the U.S. electric vehicle market.

Portfolio Pulse from Nabaparna Bhattacharya

June 14, 2024 | 4:50 pm

COGT

Cogent Biosciences shares are trading lower following the announcement of additional data from Part 1 of its ongoing SUMMIT clinical trial evaluating bezuclastinib in patients with nonadvanced systemic mastocytosis.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 4:38 pm

CORT

TEVA

Teva Pharmaceuticals has filed a lawsuit against Corcept Therapeutics, alleging that Corcept is maintaining a monopoly over the drug mifepristone, which is used to treat a rare disorder. The lawsuit could have significant implications for both companies.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 4:31 pm

CABA

Cabaletta Bio shares are trading lower following the announcement of initial clinical data from the first two patients dosed with CABA-201 in the Phase 1/2 RESET-Myositis and RESET-SLE trials.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 4:30 pm

AILE

iLearningEngines shares are trading higher following the announcement of the launch of the Microverse AI Engine in collaboration with UL Technology Solutions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 4:13 pm

HAS

Hasbro Inc. (NASDAQ:HAS) shares are climbing as analysts, including BofA Securities' Alexander Perry, turn bullish on the stock. Perry upgraded Hasbro from Neutral to Buy and raised the price target from $70 to $80, citing the success of the company's digital gaming strategy with Monopoly Go! and positive signs in the consumer products business.

Portfolio Pulse from Priya Nigam

June 14, 2024 | 4:09 pm