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WOLF

Wolfspeed, Inc. (NYSE: WOLF) announced key milestones and an operational update. The Mohawk Valley 200mm Silicon Carbide Fab has reached 20% utilization and achieved LEED certification. The company also reported a temporary impact from an equipment incident at its Durham 150mm Device Fab.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 8:06 pm

VTVT

vTv Therapeutics has screened the first patient in its CATT1 pivotal trial for Cadisegliatin, a potential first-in-class oral liver selective glucokinase activator for Type 1 Diabetes (T1D). The drug has been granted Breakthrough Therapy designation by the FDA and has been dosed in over 500 subjects, including 300 patients with diabetes.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 8:05 pm

PRAX

Needham initiated coverage on Praxis Precision Medicines Inc (NASDAQ:PRAX) with a Buy rating and a price target of $145. The company's lead product, ulixacaltamide, is in Phase 3 trials for essential tremor, with results expected in the second half of 2024. If successful, sales could peak at over $1 billion by 2030. Praxis also has other promising programs, including PRAX-628 for focal onset seizures and PRAX-562 for developmental and epileptic encephalopathies. The company's cash runway extends into 2027.

Portfolio Pulse from Vandana Singh

June 24, 2024 | 7:54 pm

CURLF

Curaleaf Holdings, Inc. (OTCQX:CURLF) announced the launch of a new line of hemp-derived THC products under its Select and Zero Proof brands. These products will be available for order starting June 26 and will be shipped on July 1, just in time for the July 4 holiday. The products will be sold through Curaleaf's new online storefront, TheHempCompany.com, and will also be distributed through strategic partnerships with conventional retail and DoorDash.

Portfolio Pulse from Jelena Martinovic

June 24, 2024 | 7:14 pm

SPY

Federal Reserve's Daly mentioned that contacts have indicated AI is reducing costs and could act as a deflationary force.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:02 pm

DHI

ITB

IYM

LEN

PHM

XHB

A new report from Freddie Mac highlights the need for 1.5 million more homes to balance the U.S. housing market and reduce record-high home prices. Companies involved in residential construction, such as D.R. Horton, Lennar Corp, and PulteGroup, as well as ETFs like iShares U.S. Home Construction ETF and SPDR S&P Homebuilders ETF, could benefit from increased housing supply.

Portfolio Pulse from Hayden Buckfire

June 24, 2024 | 7:01 pm

RBLX

WMT

Walmart is expanding its digital marketing efforts by leveraging popular platforms TikTok and Roblox. This move aims to engage younger audiences and enhance brand visibility.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:00 pm

SPY

San Francisco Federal Reserve President Mary Daly has urged tech founders in San Francisco to bring their employees back to the office. Daly emphasized the importance of in-person work for productivity and innovation. This call comes as many tech companies continue to allow remote work, impacting the local economy and commercial real estate market.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:54 pm

AMC

CNK

DIS

Disney's 'Inside Out 2' has become the highest-grossing film of 2024, nearing the $1 billion milestone. This success could positively impact Disney (DIS) and movie theater companies like AMC Entertainment (AMC) and Cinemark Holdings (CNK). Upcoming releases like 'Deadpool & Wolverine' are also expected to boost revenues.

Portfolio Pulse from Chris Katje

June 24, 2024 | 6:44 pm

AMZN

MSFT

Amazon is developing an AI chatbot named 'Metis' to compete directly with OpenAI's ChatGPT. This move positions Amazon against other tech giants in the AI space.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:37 pm