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MDGL

The American Association for the Study of Liver Diseases (AASLD) celebrates the FDA's approval of Madrigal Pharmaceuticals' resmetirom for MASH treatment. Resmetirom, a liver-directed therapy, is the first FDA-approved treatment specifically for Metabolic dysfunction-Associated Steatohepatitis (MASH), addressing a significant unmet need in liver disease management. This approval is seen as a major advancement in hepatology, offering new hope for patients with MASH, a condition characterized by liver inflammation and fibrosis due to fat accumulation.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 2:03 pm

CMI

Cummins (NYSE:CMI) has received mixed analyst ratings over the past three months, with a total of 6 analysts offering their evaluations. The average 12-month price target for Cummins is now $263.33, up 5.97% from the previous $248.50, with targets ranging from $225.00 to $303.00. Analyst actions include both upgrades and downgrades, reflecting varied perspectives on the company's performance and market conditions. Cummins, a leading manufacturer of diesel engines and powertrain components, faces competition and regulatory challenges but maintains a strong market position. Financial indicators show notable revenue growth but below-average ROE and ROA, suggesting areas for improvement.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 2:00 pm

AAPL

Apple Inc. (AAPL) has been granted a patent for technology that could transform future iPhones and iPads by introducing displays and controls on the device's sides. This innovative approach aims to enhance user experience by eliminating physical buttons and utilizing the sides for reconfigurable screens, similar to the MacBook Pro's Touch Bar. The patent is part of Apple's ongoing efforts to explore new form factors and functionalities, including flexible devices with multiple cameras and technologies to improve user privacy and conceptualize rollable iPhones.

Portfolio Pulse from Rounak Jain

March 14, 2024 | 1:54 pm

NTRA

Natera, Inc. (NASDAQ:NTRA) has expressed support for the new KDIGO guideline, which recommends genetic testing for most chronic kidney disease (CKD) patients to identify the disease's cause. This guideline aligns with Natera's Renasight test, potentially leading to broader adoption. The guideline's endorsement is based on the RenaCARE study, which showed the diagnostic utility of Renasight in CKD patients. Over 55% of U.S. nephrologists have ordered the Renasight test, indicating significant clinical acceptance.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:53 pm

DKNG

DraftKings Inc. (NASDAQ:DKNG) launched 'My Stat Sheet', a tool for users to track their gaming statistics, promoting responsible play. The company's shares have surged over 133% in the last year, outperforming the S&P 500. UBS analyst Robin Farley maintained a Buy rating on DraftKings, raising the price target from $44 to $56. DraftKings also raised its 2024 revenue guidance to $4.65 billion to $4.90 billion, indicating a 27% to 34% year-over-year growth.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 1:36 pm

CYTH

Cyclo Therapeutics, Inc. (NASDAQ:CYTH) announced the issuance of a U.S. patent for Trappsol Cyclo, aimed at treating early onset Alzheimer's disease. This development is part of the company's efforts to address the significant unmet need for therapeutic solutions in Alzheimer's treatment.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:35 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) announced its fiscal year 2024 Q1 business update, highlighting a licensing deal with AiBtl BioPharma Inc. for CNS drugs, regaining Nasdaq compliance, strategic investments in real estate for healthcare development, and various financial transactions including securities purchase agreements with Lind Global Fund II, LP. The company reported a decrease in revenues and operating expenses, a net loss reduction, and progress in R&D including patents, FDA approvals, and a licensing agreement with Xinnovation Therapeutics Co., Ltd for the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:35 pm

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) reported a 14% year-on-year decline in Q4 fiscal 2023 revenue to $1.70 billion, slightly above consensus estimates. Despite a decrease in module average selling price and lower project sales, total module shipments increased by 26% Y/Y to 8.2 GW. The company experienced a decrease in EPS to $(0.02), down from $1.11 in Q4 2022. Gross profit and margin also declined due to lower ASPs and an inventory write-down. Operating cash flow decreased to $190 million from $395.4 million last year. CSIQ provided a conservative Q1 outlook with expected revenue of $1.20 billion to $1.40 billion, below consensus estimates, and anticipates a gross margin of 17% - 19%. For fiscal 2024, revenue is expected to be between $8.50 billion and $9.50 billion, with total module shipments of 42 GW - 47 GW and battery energy storage shipments of 6.0 GWh - 6.5 GWh. CSIQ shares rose 1.15% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 1:34 pm

WMT

Walmart (NYSE:WMT) and unspun have announced a pilot project to explore a novel 3D weaving technology aimed at reducing waste in apparel manufacturing and supporting US-based production. This technology, which directly converts yarn into garments, could offer a more sustainable process for meeting apparel demand. The pilot will focus on producing workwear style pants under a Walmart house brand. Success in this pilot could lead to further collaboration and expansion of microsites across the U.S. for localized manufacturing.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:33 pm

BTCUSD

Bitcoin's technical analysis reveals a bearish 'rising wedge' pattern, suggesting a potential pullback despite recent highs. Analysts express caution, noting divergences in indicators that historically precede corrections. Despite potential short-term declines, factors like ETF inflows and purchases by entities like MicroStrategy may limit bearish pressure. Bitcoin recently hit a new peak of $73,709, driven by significant investments into U.S. Bitcoin ETFs and discussions around the Bitcoin halving event.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 1:33 pm