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Alibaba Group's fintech affiliate Ant Group is expanding its global reach with Alipay+, aiming to unify mobile payments worldwide. Launched in 2020, Alipay+ connects 88 million merchants across 57 countries to over 1.5 billion consumer accounts from 25+ e-wallets and banking apps. The platform facilitates payments with users' home-country apps abroad, partnering with services like SGQR and ZeroPay. Ant Group's strategy includes investments in Southeast Asia and expansions into Europe and the Middle East. Mastercard Inc has partnered with Alipay to enhance cross-border remittance capabilities. Despite Alibaba's stock decline over the last 12 months, analysts remain positive about its potential for recovery and growth in cross-border volumes and the public cloud market.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 12:32 pm

HDSN

Hudson Technologies has signed a licensing agreement with Chemours, allowing Hudson to sell reclaimed refrigerants under the Freon brand, including R-11, R-12, R-123, and R-122. This agreement also permits Hudson to use the Freon brand name in its sales.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:31 pm

PRCT

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) announced long-term, real-world data demonstrating the sustained benefits of Aquablation therapy for treating benign prostatic hyperplasia (BPH). The data, presented at the American Urological Association Annual Meeting, showed significant improvements in prostate volume, urinary flow rate, and symptom scores across multiple studies. The therapy was effective across a range of prostate sizes with a low rate of surgical retreatment, highlighting its safety and durability.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:22 pm

RTH

TGT

XLP

Target Corp is expanding its private-label brand sales beyond its own stores, starting with its Cat & Jack brand in Canada through Hudson's Bay Co. The company is exploring further expansion in Europe and the Americas, aiming to rebound from declining sales by leveraging the higher margins of private-label goods. Despite challenges from reduced consumer spending and product controversies, Target plans to boost performance through store expansion, a revamped loyalty program, and exclusive offerings. This strategy aligns with competitors like Walmart and Kroger, focusing on private-label products. Target's stock has seen a modest gain, and its movements can impact related ETFs such as the VanEck Retail ETF and the Consumer Staples Select Sector SPDR Fund.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 12:21 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) announced it will present clinical data on the NaviCap Targeted Oral Delivery Platform at Digestive Disease Week 2024. The presentation will include results from device function studies in healthy volunteers and patients with Ulcerative Colitis (UC), taking place on May 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:18 pm

SRTS

Sensus Healthcare, Inc. (NASDAQ:SRTS) announced the sale of its first SRT-100 Vision system in Asia to Far Eastern Memorial Hospital in Taiwan. This marks the company's entry into the Asian market, with expectations for further sales across the region, including China. The hospital plans to publish research on new indications for the system, potentially supporting label expansion. Sensus Healthcare will host a conference call on May 9, 2024, to discuss Q1 financial results and provide a business update.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:17 pm

OPTT

Ocean Power Technologies (OPTT) has successfully demonstrated its advanced AI solutions in the North Atlantic, showcasing its capabilities in real-world oceanic conditions.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:16 pm

OM

Outset Medical has received FDA 510(k) clearance for its TabloCart with prefiltration, marking a significant regulatory milestone for the company. This approval could enhance the company's product offerings in the medical device sector, potentially impacting its market position and investor sentiment positively.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:16 pm

ENPH

Enphase Energy reports that installers of its products in North America are experiencing increased deployments of its IQ8 commercial microinverters, indicating a positive trend in product adoption and market penetration.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:15 pm

RYTM

Rhythm Pharmaceuticals presented data from its Phase 3 pediatric trial at the Pediatric Endocrine Society Annual Meeting, showcasing setmelanotide's effectiveness in reducing BMI in children with obesity due to specific genetic deficiencies. The company is on track to submit an sNDA to the FDA for label expansion to treat pediatric patients aged 2 to <6 years in 1H 2024. The data demonstrated a significant reduction in BMI-Z score and BMI, indicating setmelanotide's potential for treating early-life obesity in rare genetic disorders.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:15 pm