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JNJ

LEGN

NVS

GenScript Biotech Corp. and its subsidiary Legend Biotech Corp. reported significant growth in 2023, driven by the success of the CAR-T cell therapy, Carvykti, for cancer treatment. GenScript's revenue increased by 34.2% to $840 million, and its loss decreased to $95.5 million from $230 million in 2022. Legend Biotech, in partnership with Janssen Biotech (a Johnson & Johnson subsidiary), has seen rapid sales growth for Carvykti, especially in the U.S. and Europe. The therapy's success has led to a licensing deal with Novartis and plans to expand production capacity. Despite challenges, including potential U.S.-China tensions, GenScript's diversified business and strategic partnerships position it for future growth.

Portfolio Pulse from The Bamboo Works

March 20, 2024 | 3:30 pm

AMD

AMZN

ESPO

SPRX

AMD partners with Sony Semiconductor Solutions to enhance LiDAR technology in autonomous vehicles, leveraging AMD's adaptive computing technology. This collaboration aims to improve the performance of SSS's LiDAR systems, crucial for autonomous driving. KeyBanc analyst John Vinh noted AMD's modest growth, with a 1% month-on-month increase in processor instances, largely driven by Amazon AWS. Despite a decline in traditional server demand, AMD's outlook remains moderately optimistic. AMD's stock, which gained over 87% last year, is included in the VanEck Video Gaming And ESports ETF and Spear Alpha ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:22 pm

AVGO

HACK

KKR

KNCT

Broadcom Inc's acquisition of VMware has raised concerns among Europe-based Cloud Infrastructure Service Providers due to changes in VMware's partnership program, including a shift to a subscription model. CISPE urges regulators to intervene, citing potential impacts on costs and competition. Meanwhile, Broadcom focuses on AI infrastructure development, expecting significant revenue from AI chip sales by 2024. The company's stock is part of the Amplify Cybersecurity ETF and Invesco Next Gen Connectivity ETF.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 3:18 pm

CHAT

MAGS

The Bank of America Global Fund Manager Survey for March 2024 indicates a significant rise in investor optimism, with economic growth expectations at a two-year high and recession risks diminishing. This optimism has led to increased allocations to stocks, especially in Europe, emerging markets, and the financial sector, while reducing investments in U.S. equities and technology. The survey also reveals a division over AI stocks, with the 'Magnificent 7' being the most crowded trade. The Roundhill Magnificent Seven ETF (MAGS) and the Roundhill Generative AI & Technology ETF (CHAT) have seen substantial gains.

Portfolio Pulse from Piero Cingari

March 20, 2024 | 3:10 pm

WWR

Westwater Resources, Inc. (NYSE:WWR) shares surged after reporting FY23 results, showing an EPS loss improvement, increased product development expenses, and a significant cash settlement from the Republic of Turkey. The company highlighted its first off-take agreement with a Tier 1 battery manufacturer and progress on the Kellyton Graphite Plant, positioning it well for 2024.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 3:10 pm

NVDA

At the GTC 2024 keynote, NVIDIA Corp. CEO Jensen Huang showcased the new Blackwell GPU, aimed at advancing AI technology. Known for his signature leather jacket, Huang credited his style to his wife and daughter. The jacket worn at GTC 2024, from Tom Ford's collection, highlights Huang's consistent personal branding alongside his professional achievements. This presentation not only emphasized NVIDIA's future in AI but also showcased Huang's unique personal brand, which has become synonymous with NVIDIA's public image.

Portfolio Pulse from Chris Katje

March 20, 2024 | 3:09 pm

IGC

IGC Pharma announced positive interim results for its study on IGC-AD1, showing significant reductions in Alzheimer's agitation compared to placebo. The study met its primary endpoint, demonstrating clinical and statistically significant reductions in agitation associated with dementia due to Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:08 pm

SCLX

Scilex Holding Company (NASDAQ:SCLX) announced its intention to seek FDA approval for a label modification of Gloperba to include dosing flexibility for patients with renal impairment. The proposed adjustments include dose adjustments for patients with mild or moderate renal or hepatic impairment, a starting dose of 0.3 mg/day for those with severe renal impairment, and a total recommended dose of 0.3 mg twice a week for patients undergoing dialysis.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:02 pm

ECNS

KC

WFH

Kingsoft Cloud Holdings Ltd (NASDAQ:KC) reported Q4 fiscal 2023 revenue of $242.6 million, slightly above consensus, with a 19.2% Y/Y decrease. Adjusted EPS was $(0.05), better than expected. The stock surged 18.80% to $3.82. Revenue decline was attributed to scaling down CDN services and phasing out loss-making clients. Adjusted gross profit rose significantly due to strategic adjustments and cost control. The company is focusing on AI cloud computing, contributing to 8% of public cloud revenues. Investors can also gain exposure through Direxion Work From Home ETF (NYSE:WFH) and iShares MSCI China Small-Cap ETF (NYSE:ECNS).

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 2:50 pm