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INCY

Incyte Corporation (NASDAQ: INCY) reported Q2 revenue of $1.04 billion, beating expectations, but posted a wider-than-expected EPS loss of $(1.82). Jakafi sales guidance was raised, and Opzelura showed strong growth. The company announced a strategic pipeline review and positive Phase 3 results for retifanlimab. William Blair maintains an Outperform rating with a $89 price target.

Portfolio Pulse from Vandana Singh

July 30, 2024 | 4:57 pm

EADSY

Airbus CEO stated that more analysis and work are required in the review of space systems contracts. The latest space charges reflect a bottom-up analysis of risks for all except one major space systems contract.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:51 pm

VRNOF

More than a year after Maryland legalized recreational cannabis, the state's illicit market remains active despite the commercial success of licensed dispensaries. Maryland's low tax rate and strategic timing have helped legal sales soar, but competition from unlicensed hemp retailers and persistent illegal sales pose challenges.

Portfolio Pulse from Juan Spínelli

July 30, 2024 | 4:45 pm

PSX

Phillips 66 expects its refineries' crude oil utilization to be in the low 90% range in Q3, indicating strong operational performance.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:39 pm

DARP

FEPI

MU

Micron Technology (NASDAQ:MU) shares are trading lower today despite the company announcing the shipment of its ninth-generation (G9) TLC NAND SSDs, which boast industry-leading performance metrics. The new NAND offers significant improvements in data transfer speeds and efficiency, making it ideal for AI and data-intensive applications. Investors can also gain exposure to Micron through ETFs like REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Grizzle Growth ETF (NYSE:DARP).

Portfolio Pulse from Lekha Gupta

July 30, 2024 | 4:35 pm

META

Meta Platforms is set to report its Q2 earnings on July 31, with analysts focusing on AI advancements and advertising spending. Revenue is estimated at $38.3 billion, up from $32.0 billion last year, and EPS is expected to be $4.73, up from $2.98. Analysts have mixed sentiments, but many maintain an Outperform rating with high price targets. Key items to watch include AI strategy, advertising rates, and potential increases in expenses.

Portfolio Pulse from Chris Katje

July 30, 2024 | 4:24 pm

MRVL

SEMI

SPRX

Marvell Technology (NASDAQ:MRVL) shares are trading lower today after the company introduced its Structera line of Compute Express Link (CXL) devices, aimed at addressing memory performance and scaling challenges in cloud data centers. The new product line is expected to enable optimal resource utilization and lower energy consumption. Marvell also announced that its Teralynx 10 Ethernet switch device is now in volume production. Investors can gain exposure to Marvell through ETFs like Spear Alpha ETF (NASDAQ:SPRX) and Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI).

Portfolio Pulse from Lekha Gupta

July 30, 2024 | 4:24 pm

EA

Electronic Arts (EA) stock has reached a new 52-week high, trading at $148.40. Investors are anticipating the company's first-quarter earnings report, with expected EPS of 43 cents on revenue of $1.286 billion. EA's significant investment in the upcoming Battlefield game and other projects is also highlighted.

Portfolio Pulse from Henry Khederian

July 30, 2024 | 4:23 pm

BA

EADSY

Leonardo's CEO announced plans to return to 'Rate 10' for Boeing fuselages by 2025 and is in talks with Airbus to expand collaboration on the A220's rear fuselage. The company is also negotiating with Boeing over the slowdown in 787 production but sees positive long-term prospects for the B787.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 4:23 pm

CNSP

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) initially saw its shares rise on Tuesday following the announcement of an exclusive license agreement with Cortice Biosciences for TPI 287, a potential treatment for glioblastoma multiforme (GBM). However, the stock later reversed and is now trading 60% lower at 41 cents. The agreement includes the issuance of 616,698 shares of CNS common stock and potential future milestone payments. CNS plans to consult with the FDA and start a study in 2025.

Portfolio Pulse from Dylan Berman

July 30, 2024 | 4:21 pm