Streetbeat News

Products Services

LLY

NVO

The pharmaceutical industry is facing a 50% increase in crime due to a surge in counterfeit weight-loss drugs, notably Novo Nordisk's Ozempic and Wegovy, and Eli Lilly's products. Criminals are exploiting supply shortages and high demand, fueled by social media and Hollywood. Both companies are taking significant steps to combat this issue, with Novo Nordisk working with authorities and employing third-party monitors, and Eli Lilly taking legal action against entities selling fraudulent products.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 2:31 pm

TSLA

Elon Musk announced on X that the Tesla Giga Berlin factory is back online, thanking the Tesla team and community support.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:23 pm

IBIT

Bitcoin reached a new peak of $73,709, marking its fourth high in six days, driven by a surge in investments into U.S.-based Bitcoin ETFs, with a record $1.05 billion inflow on March 12. Blackrock's IBIT captured $849 million of this. Ether also rose 3.3% to $4,083, up 75% since the year's start. The Ethereum ecosystem anticipates cost reductions from the Dencun software update, benefiting Layer-2 networks like Arbitrum, Polygon, and Coinbase's Base.

Portfolio Pulse from Murtuza Merchant

March 13, 2024 | 2:23 pm

AZN

MNKTQ

SLN

Silence Therapeutics Plc (NASDAQ:SLN) reported a narrower loss per share for 2023 compared to the previous year and an increase in collaboration revenues. Despite this, shares dropped 5.61% to $24.45. The company announced significant cash position improvements and the conclusion of a collaboration with Mallinckrodt (OTC:MNKTQ) on SLN501. Positive data from the ALPACAR-360 phase 2 study of zerlasiran was also shared. Additionally, a $10 million milestone payment was triggered by AstraZeneca PLC (NASDAQ:AZN) for initiating a phase 1 clinical trial.

Portfolio Pulse from Nabaparna Bhattacharya

March 13, 2024 | 2:16 pm

IDAI

Trust Stamp (NASDAQ:IDAI) announced the commercial release of its new AI-powered age-estimation technology, designed to estimate the age of online users to ensure age-appropriate content access. The technology, which uses deep-learning algorithms, has been tested against industry leaders and is now in negotiations for its first commercial implementation. Trust Stamp's President, Andrew Gowasack, highlighted the technology's potential applications both online and offline, emphasizing its importance in complying with legislative initiatives on age verification.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 2:04 pm

AAPL

NVDA

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSMC), a key supplier to Nvidia and Apple, reported an 11.3% year-on-year sales increase in February, driven by strong demand for AI-related products. This growth comes despite a 5.9% sales decline across Taiwan's tech sector. TSMC's performance contrasts with electronics manufacturers like Foxconn and Pegatron, which saw sales drops due to reduced business days from the Lunar New Year. TSMC is expanding globally, with new facilities in Japan and a $40 billion investment in Arizona, supported by up to $5 billion in U.S. grants.

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 2:03 pm

MA

Mastercard (NYSE:MA) launched Smart Subscriptions, an open-banking powered solution for managing subscriptions through consumer banking applications. This service aims to enhance financial wellness by offering transparency in spending and personalized offers. It builds on Mastercard's Subscriptions Control solution from 2023. Additionally, Mastercard reported a Q4 net revenue of $6.55 billion, beating estimates, with an adjusted EPS increase of 20% to $3.18. MA shares saw a slight increase of 0.23% to $473.98.

Portfolio Pulse from Lekha Gupta

March 13, 2024 | 2:00 pm

ALGN

Align Tech (NASDAQ:ALGN) has received mixed analyst ratings over the past quarter, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for ALGN has increased to $297.0, up from $255.50, indicating a positive sentiment shift. Analysts from firms like Piper Sandler and Goldman Sachs have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Align Technology, known for its Invisalign product, dominates the clear aligner market and has shown strong financial performance with significant revenue growth and profitability metrics.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 2:00 pm

IONS

Ionis Pharmaceuticals Inc (NASDAQ:IONS) announced positive results from a Phase 2 study of ION224, a treatment for metabolic dysfunction-associated steatohepatitis (MASH), showing significant liver fat reduction and safety. The study met its primary and important secondary endpoints, demonstrating liver histologic improvement and MASH resolution at both tested doses. ION224 was well-tolerated with no serious adverse events reported. Following the news, IONS shares rose 1.34% to $43.75.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 1:52 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS), a leading drone solutions provider, announced a shareholder letter from Chairman Grant Begley, highlighting the company's evolution, product offerings, and strategic accomplishments. Begley emphasized AgEagle's transition from a local agricultural drone provider to a global leader in drone technology with applications across various sectors. The letter mentioned the introduction of eBee VISION for defense and security, FAA certification, and the Defense Innovation Unit's endorsement. Recent achievements include leadership team expansions, sales to UT-Battelle and ADS Inc., and recognition as a top AI company in agriculture. Financially, AgEagle addressed its micro cap status, sales stagnation, and high expenses in 2023, but anticipates growth with the eBee VISION. A 20-to-1 reverse stock split was approved to attract more investors and support business growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:43 pm