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NVO

Germany's Bundeskartellamt approved Novo Nordisk's acquisition of Cardior Pharmaceuticals, aiming to enhance its heart drugs pipeline. The deal, valued at up to €1.025 billion, includes Cardior's lead compound CDR132L, in phase 2 development for heart failure treatment. This acquisition is pivotal for Novo Nordisk's strategy to expand into cardiovascular disease, with CDR132L showing potential in improving heart function. The transaction is expected to close in Q2 2024, while NVO shares saw a 1.42% decline to $122.77.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:55 pm

NOC

Northrop Grumman Corporation (NYSE:NOC) has partnered with SpaceX on a classified U.S. spy satellite project aimed at enhancing surveillance capabilities with high-resolution imagery from low-Earth orbits. This alliance is part of a strategic move to diversify government involvement in sensitive intelligence projects and avoid consolidating control under a single contractor. Northrop Grumman will provide sensors for select SpaceX satellites and conduct testing at its facilities. The company reported a 6% sales growth in Q4 fiscal 2023, with future sales projections for fiscal 2024 between $40.8 billion and $41.2 billion, slightly above consensus estimates.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:48 pm

V

Deep-pocketed investors have shown a bearish sentiment towards Visa (NYSE:V), with a significant move in options trading indicating potential big changes. Benzinga's tracking revealed 12 unusual options activities, with a bearish majority of 75%. The trading suggests a price target range of $240 to $290 for Visa in the next three months. Visa's current stock price is down -0.7% at $270.78, with analysts giving mixed ratings and price targets ranging from $265 to $335. The company remains a global leader in payment processing.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:46 pm

ABBV

CERE

Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) announced positive results from its Phase 3 TEMPO-3 trial for tavapadon in Parkinson's disease, meeting its primary endpoint and showing significant improvement in 'on' time without troublesome dyskinesia. AbbVie Inc. (NYSE:ABBV) is set to acquire Cerevel for $8.7 billion, with the transaction expected to close in mid-2024. CERE shares rose 1.08% following the announcement.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:44 pm

OCUL

Ocular Therapeutix Inc (NASDAQ:OCUL) announced positive Phase 1 results for Axpaxli in treating non-proliferative diabetic retinopathy without DME, showing significant improvement in DRSS scores compared to the control group. The company plans to proceed to Phase 3 trials, pending FDA discussions. Additionally, earlier Phase 2 results for Paxtrava in treating glaucoma showed sustained IOP reductions. Despite these developments, OCUL shares dropped 15.40% to $6.42.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:37 pm

AMZN

ZM

Zoom Video Communications Inc (ZM) is leveraging AI advancements and strategic partnerships with Avaya and Amazon.com Inc's AWS to drive growth, receiving a rating upgrade from Neutral to Buy by Rosenblatt Securities, with a price target of $75. The company's product momentum is strong, with significant growth in Zoom Phone customers and adoption of CCaaS and Zoom AI Companion.

Portfolio Pulse from Priya Nigam

April 18, 2024 | 5:22 pm

LAC

Lithium Americas Corp. (NYSE:LAC) shares dropped after announcing a $275 million public offering of 55,000,000 common shares at $5.00 each. The proceeds are aimed at advancing the Thacker Pass lithium project in Nevada. Despite the current dip, analysts have a positive outlook with an average 12-month price target of $7.25, suggesting potential upside.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 5:17 pm

CEG

Smart money investors have shown a significant interest in Constellation Energy (NASDAQ:CEG) options, with a bearish stance overall. Benzinga's options scanner revealed 8 unusual trades, indicating a mixed sentiment but leaning towards bearish with 62% bearish and 37% bullish trades. The trades suggest a target price range of $180 to $195 for CEG in the next three months. The largest trades include both calls and puts, with a notable bearish call at a strike price of $195 expiring on 01/17/25 and a bearish put at $180 expiring on 05/17/24. Constellation Energy, an energy solutions provider, has seen its stock price increase by 0.45% to $186.24, with an upcoming earnings report in 21 days. Analysts have a consensus target price of approximately $194.67 for CEG, with ratings from Morgan Stanley and Evercore ISI Group indicating a positive outlook.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:16 pm

EL

FXI

LRLCY

L'Oreal's CEO reported that luxury make-up sales are growing in double digits, while luxury skincare is impacted by a slow rebound in China. The mass market in China saw more acceleration in Q1 compared to the U.S., with a slowdown in luxury segments.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 5:11 pm

BNTC

Benitec Biopharma Inc (NASDAQ:BNTC) reported positive interim clinical data from its BB-301 Phase 1b/2a study in Oculopharyngeal Muscular Dystrophy (OPMD), showing improvements in swallowing functions without severe side effects. Additionally, the company announced a $40 million PIPE financing, leading to a 24% increase in its stock price.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 5:04 pm