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VRTX

Vertex Pharmaceuticals received approval from the European Commission for Kalydeco to treat infants with cystic fibrosis aged 1 month and older. This marks a significant expansion in the treatment's patient eligibility.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:57 pm

TLRY

Europe sees significant cannabis developments: the UK's Release campaign aims to protect medical marijuana patients, a WHO survey reveals high cannabis use among Scottish youth, Sweden makes a major cocaine bust, and Portugal exports vastly more marijuana than it sells domestically. Tilray (NASDAQ:TLRY) is noted for its exclusive sale of medical marijuana in Portugal, despite high costs and limited patient eligibility.

Portfolio Pulse from Nina Zdinjak

April 26, 2024 | 3:34 pm

CVX

During a recent conference call, it was announced that Chevron's production in Venezuela has increased to 180,000 barrels per day.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:32 pm

IGC

IGC Pharma announced interim results for its IGC-AD1 treatment, showing it clinically reduced Alzheimer's agitation compared to a placebo. These results were initially announced on March 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:27 pm

CVX

Chevron has reported better than expected production performance in the Permian Basin during the first half of the year, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:22 pm

CVX

Chevron is set to begin exploration activities adjacent to a significant discovery in Namibia towards the end of 2024 or early 2025. This move indicates Chevron's strategic expansion in regions with high potential for oil and gas reserves.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:17 pm

GOOG

MSFT

Dan Ives of Wedbush praised the March 2024 quarter earnings of Microsoft Corp. (MSFT) and Alphabet Inc. (GOOG, GOOGL), highlighting the significant investment in AI technologies as a pivotal moment akin to the 'fourth industrial revolution'. Both companies exceeded analyst expectations, with Microsoft reporting a 17% revenue increase and Alphabet announcing its first-ever dividend after a 15% revenue growth. Ives compared this period to a '1995 moment' for AI, indicating a major industry shift.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 3:17 pm

F

HMC

Honda Motor Co Ltd (NYSE:HMC) is investing $11 billion in Ontario, Canada, for an EV value chain, including assembly and battery plants, following a $4.4 billion investment in a U.S. battery plant. This move contrasts with Ford Motor Co's reported losses of $36,000 to $65,000 per EV sold and GM's $1.7 billion loss in its EV business in 2023, while Tesla and Rivian also face challenges in profitability. Ford's CFO promises cost-cutting measures amid declining revenues and changing consumer preferences for cheaper EVs. Honda's project, starting production in 2028 with a 240,000 annual unit capacity, aims for an all-EV and fuel cell vehicle offering by 2040, expecting to create 1,000 jobs with government support.

Portfolio Pulse from Anthony Noto

April 26, 2024 | 3:14 pm

HTZ

Hertz plans to sell an additional 10,000 EVs in 2024 due to significant depreciation losses, totaling 30,000 EV sales. The company faced a $195 million charge to vehicle depreciation, with depreciation costs up $339 per vehicle, $119 of which is attributed to EVs. Despite a 2% revenue increase to $2.1 billion in Q1, Hertz reported $567 million in quarterly losses, largely due to depreciation costs. The sale includes models from Chevrolet, Kia, Mercedes, and Tesla at competitive prices.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 2:53 pm

AMD

NVDA

SSNLF

AMD has partnered with Samsung Electronics to enhance its MI350 data center chip with advanced HBM3E memory technology in a deal worth approximately $3 billion. This partnership aims to boost the chip's capabilities, particularly in bandwidth, to compete more effectively with Nvidia's offerings. Samsung will supply 12-layer HBM3E DRAM for the MI350, with mass production expected in the first half of the year. Additionally, Samsung will purchase AMD GPUs, with supplies starting in the second half of the year. This move is seen as a strategic effort by AMD to improve its market position against Nvidia, especially in terms of chip bandwidth.

Portfolio Pulse from Anusuya Lahiri

April 26, 2024 | 2:43 pm