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ZBH

Zimmer Biomet Holdings Inc. (NYSE: ZBH) received an upgrade from Argus Research due to promising growth from new products and favorable demographic trends. The company plans to launch over 40 new products in the next 24-36 months, including the ROSA robotic surgery system and a cementless knee implant. Argus upgraded ZBH from Hold to Buy with a price target of $150, citing attractive valuation and a strategy to grow EPS faster than revenue.

Portfolio Pulse from Vandana Singh

May 21, 2024 | 6:42 pm

AMD

AMZN

GOOGL

INTC

IYW

MSFT

NVDA

XLK

Microsoft has launched Team Copilot, an AI assistant designed to enhance team collaboration, as part of its broader AI integration strategy. The company also revealed its first proprietary processor, the Azure Cobalt 100 CPU, and announced the integration of AMD's MI300X AI chips into its Azure cloud service. This positions Microsoft to compete with other cloud providers like Amazon and Alphabet. Microsoft's stock has gained over 33% in the past year.

Portfolio Pulse from Shivani Kumaresan

May 21, 2024 | 6:42 pm

BIIB

LRMR

Larimar Therapeutics announced that the FDA has lifted the partial clinical hold on its investigational drug nomlabofusp (CTI-1601) for Friedreich’s Ataxia. The decision follows positive data from a Phase 2 study. Nomlabofusp showed promising results in increasing frataxin levels and was well-tolerated. The ongoing OLE study will further evaluate its safety and efficacy. William Blair reiterates an Outperform rating on Larimar. The stock rose 10.66% following the news.

Portfolio Pulse from Vandana Singh

May 21, 2024 | 6:39 pm

Guardant Health Inc (NASDAQ:GH) faces concerns from FDA staff reviewers regarding its experimental blood test for colorectal cancer, Shield, which may not detect some tumor types that could become cancerous. The FDA's Molecular and Clinical Genetics Panel will review the premarket approval application on May 23. Despite the concerns, the test's potential benefits in improving compliance and early detection were acknowledged. GH shares are down 2.62% at $24.12.

Portfolio Pulse from Vandana Singh

May 21, 2024 | 6:36 pm

LLY

NSRGY

NVO

Nestlé has launched Vital Pursuit, a new line of foods designed to complement GLP-1 weight loss medications like Wegvoy and Zepbound. This move aims to address concerns that food companies might see reduced sales due to the popularity of these weight loss drugs. The new product line includes nutrient-rich, portion-controlled foods and will debut in Q4 at select retailers.

Portfolio Pulse from Vandana Singh

May 21, 2024 | 6:26 pm

APVO

Aptevo Therapeutics has been granted Canadian Patent Number 2999138 titled 'CD3 Binding Polypeptides (for the Treatment of Cancer)'.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 6:22 pm

FTLS

SMOG

Goldman Sachs analyst Tina Hou reiterated a Buy rating on Li Auto Inc (NASDAQ:LI) with a price target of $43.60. Despite missing Q1 2024 revenue and earnings estimates, Li Auto is making strategic adjustments including price cuts, sales network optimization, and layoffs. The company has delayed its BEV SUV model launch to the first half of 2025. Li Auto's stock has lost nearly 30% in the last 12 months, but upcoming catalysts and strategic changes are expected to drive future growth.

Portfolio Pulse from Anusuya Lahiri

May 21, 2024 | 6:20 pm

DIS

VOX

Disney's Pixar Animation Studios is laying off 14% of its workforce, or about 175 employees, as part of a broader strategy to reduce content spending. This move aligns with CEO Bob Iger's disciplined approach to streaming. The focus now shifts to the anticipated release of 'Inside Out 2' in June. Disney reported a 1% revenue growth year-on-year, with adjusted EPS beating analyst estimates. Disney's stock has gained over 12% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

May 21, 2024 | 6:20 pm

TMUS

SpaceX announced the successful completion of the first video call using Starlink Direct to Cell satellites from unmodified mobile phones. The company plans to go live with T-Mobile later this year.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 6:14 pm

BEN

BLK

ETHUSD

The SEC is reportedly leaning towards approving spot Ethereum ETFs, with potential approvals as soon as this week. This news has led to a surge in Ethereum's price. The initial deadline for proposed spot ether ETFs is May 23, with VanEck's proposal being the first in line. Other firms with similar filings include Ark Invest, 21Shares, Grayscale Investments, Fidelity, BlackRock, and Franklin Resources.

Portfolio Pulse from Murtuza Merchant

May 21, 2024 | 6:06 pm