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EXAI

Exscientia has agreed to acquire GT Apeiron's share of its oral CDK7 inhibitor program, gaining full control of GTAEXS617 and all related intellectual property. Exscientia will pay GT Apeiron $10 million upfront in cash and $10 million in equity, and will take on all existing development costs. The monotherapy dose escalation phase of the ELUCIDATE trial is progressing well, with data expected in the second half of 2024. Exscientia's cash runway is expected to extend well into 2027.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 11:04 am

NOK

T

Nokia Corp (NYSE:NOK) reported a significant decline in Q2 2024 net sales, missing analyst estimates and leading to a stock price drop. The company is facing challenges in the 5G equipment market and has revised its annual outlook downward. Nokia's network infrastructure division is undergoing an overhaul, and the company is making strategic moves, including a $2.3 billion investment in AI-driven data center services and plans to sell its undersea cable business. Despite some positive aspects like improved margins and a dividend distribution, the overall outlook remains cautious.

Portfolio Pulse from Anusuya Lahiri

July 18, 2024 | 11:00 am

BNOX

Bionomics has started patient screening for its Phase 3 AFFIRM-1 trial to evaluate the safety and efficacy of BNC210 for treating social anxiety disorder. Topline results are expected in Q3 2025.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:47 am

WBD

Warner Bros Discovery is considering splitting its digital streaming and studio businesses from its legacy television networks, according to a report by the Financial Times.

Portfolio Pulse from charles@benzinga.com

July 18, 2024 | 10:43 am

FOR

Forestar Group (FOR) has provided its fiscal 2024 revenue guidance, expecting to generate between $1.4 billion and $1.5 billion, slightly below the consensus of $1.505 billion. The company also anticipates delivering between 14,600 and 15,100 lots, adjusting its previous guidance of 14,500 to 15,500 lots.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:37 am

DIA

GLD

QQQ

SOXX

SPY

Global markets showed mixed results with U.S. stock markets closing mixed, Asia experiencing varied performance, and European markets advancing. The S&P 500 and Nasdaq fell sharply due to potential U.S. trade restrictions on China, while the Dow Jones Industrial Average rose. Commodities saw minor fluctuations, and the U.S. Dollar gained.

Portfolio Pulse from Akanksha Bakshi

July 18, 2024 | 10:36 am

LMT

MISL

SHLD

Lockheed Martin Corporation (NYSE:LMT) has delivered the first of eight C-130J-30 Super Hercules tactical airlifters to Ohio’s Youngstown Air Reserve Station, introducing a new aerial spray mission capability. This enhances the U.S. Air Force Reserve's readiness and mission interoperability. Additionally, Lockheed Martin's shares have been positively impacted by the Pentagon's decision to resume accepting new F-35s and a recent $520.4 million contract for the F-16 Viper Shield electronic warfare suite. Investors can gain exposure to LMT via Global X Defense Tech ETF (NYSE:SHLD) and First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).

Portfolio Pulse from Lekha Gupta

July 18, 2024 | 10:19 am

KBR

KBR has secured a contract with Kuwait Oil Company to develop a masterplan for 17GW of renewables and 25GW of green hydrogen by 2050. The project includes advisory consulting services for wind and solar power deployment, power storage, and green hydrogen production.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:05 am

LOCO

El Pollo Loco has introduced three new fire-grilled chicken burritos to its menu, priced at $9.99 each. These burritos are available at participating locations only.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:04 am

GDRX

Boehringer Ingelheim and GoodRx (NASDAQ:GDRX) have announced a partnership to offer a low-cost, citrate-free biosimilar to Humira, Adalimumab-adbm, through GoodRx's platform. This initiative aims to improve access and affordability for patients with autoimmune conditions.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 10:03 am