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STM

STMicroelectronics (STM) has announced the establishment of the world's first fully integrated silicon carbide (SiC) facility in Catania, Italy. This new high-volume 200mm SiC manufacturing facility will focus on power devices and modules, including test and packaging. The project involves a multi-year investment of 5 billion euros, with 2 billion euros in support from the State of Italy under the EU Chips Act. The facility aims to support automotive and industrial customers in their transition to electrification and higher energy efficiency.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 7:23 am

NYXH

Nyxoah has completed a $50M offering and subsequent sale of additional shares, raising a total of $52.5M. The funds will be used for pre-commercialization and commercialization activities in the US, clinical research, R&D for the Genio system, and other corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 7:15 am

ABBV

The Committee for Medicinal Products for Human Use (CHMP) has given a positive opinion on AbbVie's SKYRIZI for treating adults with moderately to severely active ulcerative colitis. This decision is based on successful results from two Phase 3 trials, INSPIRE and COMMAND, which met primary and key secondary endpoints.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 7:03 am

AMZN

CRM

META

MSFT

France is making significant strides in AI, supported by major U.S. tech companies like Amazon, Salesforce, and Microsoft. At the Viva Technology conference, French AI firm H raised $220 million in seed funding from investors including Amazon and Eric Schmidt. France aims to become a global AI leader, despite regulatory challenges and competition from the U.K.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 6:55 am

AAPL

Tech YouTuber Marques Brownlee (MKBHD) provided an inside look into Apple's durability testing labs for iPhones. He detailed various tests including water ingress, drop simulations, and vibration tests. Brownlee also discussed iPhone durability and repairability with Apple's head of hardware engineering, John Ternus. Apple is expected to launch the iPhone 16 series in September with significant upgrades.

Portfolio Pulse from Ananya Gairola

May 31, 2024 | 6:52 am

REGN

SNY

Sanofi and Regeneron Pharmaceuticals' Dupixent has been recommended for EU approval by the CHMP to treat COPD patients. This recommendation is based on Phase 3 trials showing significant benefits in reducing exacerbations and improving lung function. If approved, Dupixent would be the first targeted therapy for COPD in the EU and the first new treatment for the disease in over a decade.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 6:34 am

IEO

OIH

UCO

USO

VDE

XES

OPEC+ is expected to extend its current production cuts amid rising summer demand, with a virtual meeting scheduled for June 2. The decision is influenced by increased demand from China and the U.S. Investors may consider oil ETFs like VDE, OIH, USO, IEO, XES, and UCO.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 6:33 am

AIQ

BOTZ

MSFT

NVDA

ROBO

A UBS report suggests that Microsoft may be Nvidia's largest customer, contributing to 19% of Nvidia's revenue in fiscal 2024. Nvidia's stock has surged 130% this year, driven by demand for AI processors. The report also highlights the growing interest in AI ETFs like BOTZ, AIQ, and ROBO. Nvidia's CEO will attend Taiwan's AI Tech Fest, and the U.S. has halted AI chip sales to the Middle East due to security concerns.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 6:18 am

GOOG

GOOGL

Google defends its AI search results, which have faced criticism for delivering bizarre and inaccurate information. Despite the backlash, Google claims higher satisfaction with the new AI Overviews feature and plans to improve it by limiting its appearance for nonsensical queries and adding strong guardrails for sensitive topics.

Portfolio Pulse from Ananya Gairola

May 31, 2024 | 6:03 am

ADAUSD

BLK

SOLUSD

XRPUSD

Ripple CEO Brad Garlinghouse predicts the emergence of ETFs for XRP, Solana, and Cardano, following the approval of Bitcoin and Ethereum spot ETFs. He highlights regulatory challenges and criticizes the SEC's lack of clarity. Ripple's ongoing legal battle with the SEC could impact the approval process for an XRP ETF.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 5:57 am