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PHIO

Phio Pharmaceuticals Corp (NASDAQ:PHIO) shares surged after announcing new data on its lead clinical product, PH-762, showing positive preclinical results and supporting its ongoing clinical trial for various carcinomas. The stock experienced a significant volume increase, trading over 5 million shares compared to its average of 314.3K.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:29 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has been recognized by Consumer Reports' 2023 Annual Auto Surveys as the automotive brand with the lowest maintenance and repair costs. The surveys, which collected data from thousands of vehicle owners in the U.S., confirm the long-held belief that electric vehicles, like those produced by Tesla, offer significantly reduced repair and maintenance expenses compared to gasoline vehicles. German luxury brands such as Audi, BMW, Mercedes-Benz, and Porsche were identified as having the highest costs.

Portfolio Pulse from Benzinga EV Insights

April 22, 2024 | 6:26 pm

LLY

Eli Lilly (NYSE:LLY) is acquiring a manufacturing facility from Nexus Pharmaceuticals to expand its parenteral product manufacturing and address the supply-demand gap for its GLP-1 drugs Zepbound and Mounjaro. The facility, located in Pleasant Prairie, Wisconsin, will support increased demand for Lilly's medicines, with production expected to begin by the end of 2025. This move comes as Lilly faces a supply crunch for Zepbound and Mounjaro, with limited supplies expected through the second quarter of this year. Lilly's investments aim to increase production throughout 2024 and beyond, with the drugs expected to be available from a new North Carolina facility in January 2025.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:21 pm

CAH

DIA

INFA

QQQ

SPY

WOLF

U.S. stocks are set to break a six-day losing streak with major indices trading higher ahead of key earnings reports from Visa, Tesla, Meta Platforms, Microsoft, and Alphabet. Gold and silver prices dropped significantly, while Bitcoin rose above $66,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust all saw gains. Ford Motor and Wolfspeed Inc. experienced notable stock movements due to upcoming earnings and activist investor actions, respectively. Informatica Inc. dropped after denying acquisition talks, and Cardinal Health fell following contract renewal news with UnitedHealth Group's OptumRx.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 6:16 pm

HEPA

Hepion Pharmaceuticals Inc. (NASDAQ:HEPA) announced the winding down of its ASCEND-NASH Trial due to resource constraints, despite no safety concerns observed with rencofilstat. The trial's halt and exploration of strategic alternatives have led to a 28.5% drop in HEPA shares to $1.44.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:14 pm

SPOT

UMGNF

Taylor Swift's new album 'The Tortured Poets Department' (TTPD) has achieved record-breaking sales and streaming numbers. It sold 1.6 million units in the U.S. on its first day, including 600,000 vinyl copies. On Spotify (SPOT), TTPD garnered over 300 million streams globally on its debut day, marking the platform's biggest debut ever. Despite ongoing tensions over royalty payments, Swift has also partnered with TikTok, leveraging its vast user base to promote TTPD. Industry experts anticipate the album to surpass 2 million units in its first week, a feat only matched by Adele's '25' and NSYNC's 'No Strings Attached' since 1991.

Portfolio Pulse from Franca Quarneti

April 22, 2024 | 5:50 pm

DIS

PENN

Aaron LaBerge, the CTO of Disney Entertainment and ESPN, is set to leave Disney for personal reasons and will join Penn Entertainment as CTO. His departure continues the trend of veteran executives leaving Disney. LaBerge has played a crucial role in developing Disney's streaming services, including the integration of advertising into Disney+ and the unification of Hulu and Disney+ into one application. His move to Penn Entertainment, where he will drive the technology strategy for ESPN Bet and other interactive divisions, is seen as a continuation of his contributions to Disney and ESPN. A search for his replacement is underway, with Chris Lawson stepping in as interim CTO.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 5:49 pm

SNAP

Investors have shown a bullish stance on Snap Inc. (NYSE:SNAP) through significant options trading activity, with a sentiment split of 65% bullish and 29% bearish. The options market indicates an expected price window for SNAP between $9.0 to $35.0. The largest trades include both bullish and bearish positions, with a notable volume and open interest in options within the mentioned price range. Snap, known for its social networking app Snapchat, has over 400 million daily active users, with North America accounting for a significant portion of its sales. The stock is currently trading at $11.11, with an RSI indicating a neutral position and an earnings announcement expected in 3 days. Analysts have given SNAP an average target price of $12.5.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 5:46 pm

NKGN

NKGen Biotech Inc (NASDAQ:NKGN) shares surged by 29.30% to $1.43 on Monday with a trading volume of 19.25 million, significantly higher than its 100-day average of 2.85 million. The increase comes without specific news to justify the price jump. The company is preparing to present its NK cell therapy developments for neurodegenerative diseases at the 12th Annual Alzheimer's & Parkinson's Drug Development Summit. Earlier, NKGen Biotech secured $5 million in second-lien convertible loan funding, contributing to a total of approximately $4.75 million in gross cash proceeds for 2024. CEO Paul Song highlighted the company's focus on Phase 2 Alzheimer's clinical trials, a recent IND submission for Parkinson's disease, and a nearly 50% reduction in monthly operational and clinical trial expenses.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 5:38 pm

AAPL

AMD

INTC

NVDA

QCOM

TSM

TSMC reported strong Q1 results, surpassing estimates due to high AI demand. Its customers, including NVIDIA, Apple, AMD, and Qualcomm, contribute to its growth. NVIDIA aims to expand into AI software services, mirroring TSMC's role in chip manufacturing. TSMC's Q2 guidance reflects strong demand but anticipates a slight margin decline due to an earthquake and higher costs, though with minimal revenue impact. TSMC plans to mass-produce more efficient 2-nanometer chips by 2025 and expects significant revenue growth from AI processors.

Portfolio Pulse from Upwallstreet

April 22, 2024 | 5:31 pm