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AMZN

BABA

CPNG

PDD

Alibaba and Coupang are intensifying their e-commerce battle in South Korea with significant investments. Alibaba is investing $1.1 billion in a new logistics center, while Coupang is focusing on advanced technologies and logistics. Both companies face competition from each other and other players like Naver and PDD Holdings.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 12:49 pm

AMD

ASML

INTC

NVDA

TSM

China has announced a $47.5 billion public fund to boost its self-reliance in manufacturing advanced chips, countering U.S. efforts to restrict its access to key technologies. The U.S. has also invested heavily in its semiconductor industry through the CHIPS Act, aiming to reduce reliance on Asian production and strengthen its geopolitical standing. Companies like NVIDIA, AMD, Intel, and Taiwan Semiconductor are mentioned as key players in the global semiconductor landscape.

Portfolio Pulse from Natan Ponieman

May 31, 2024 | 12:44 pm

MIRM

Mirum Pharmaceuticals (NASDAQ:MIRM) received a positive opinion from the European Committee for Medicinal Products for Human Use (CHMP) for its drug LIVMARLI for the treatment of Progressive Familial Intrahepatic Cholestasis (PFIC) in patients three months and older. The decision is based on a Phase 3 study showing significant reduction in pruritus severity. A decision by the European Commission is expected in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:39 pm

OCGN

Ocugen announced that the Data and Safety Monitoring Board has recommended proceeding with dosing subsequent GA subjects with a low dose of OCU410 in the dose-expansion phase and concurrently initiating Phase 2 dosing.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:39 pm

STSS

Sharps Technology has announced the acquisition of InjectEZ and a Syringe Sales Agreement, positioning itself in the U.S. prefillable syringe industry. The agreement secures over $200 million in product orders for the first five years, with additional commitments being negotiated. Shipments are expected to begin by Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:38 pm

ADAUSD

BTCUSD

ETHUSD

SOLUSD

XRPUSD

The 're-staking' trend in the cryptocurrency market has attracted over $18 billion in assets, driven by investors seeking higher returns. Seattle-based EigenLayer has been a key player, with its platform's assets surging from $400 million to $18.8 billion in six months. Despite the potential risks, the practice continues to gain popularity amid broader optimism in the crypto market.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 12:28 pm

AAPL

GOOGL

MSFT

Microsoft is concerned about a potential deal between OpenAI and Apple, which could impact Microsoft's AI ambitions. The deal would integrate OpenAI services into Apple products and potentially replace Google as Apple's search partner. This development has caused tensions within OpenAI and could shift AI market dynamics.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 12:23 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is set to unveil its AI strategy at the upcoming Worldwide Developers Conference (WWDC) in June, focusing on Siri. The new AI features in iOS 18 may require the latest iPhone 15 Pro models with the A17 Pro chipset. This could be a barrier for users with non-Pro models. Apple's shares were down 0.08% in premarket trading.

Portfolio Pulse from Rounak Jain

May 31, 2024 | 12:21 pm

NVS

Novartis' Scemblix (asciminib) has shown superior efficacy and a favorable safety profile compared to standard-of-care TKIs in a Phase III trial for newly diagnosed CML patients. The trial met both primary endpoints, demonstrating higher MMR rates and fewer adverse events. Scemblix has been granted US FDA Breakthrough Therapy Designation and is under review.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:20 pm

ITRM

Iterum Therapeutics shares are trading higher after the FDA acknowledged receipt of the company's resubmission of its New Drug Application for oral sulopenem.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:16 pm