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IVBIY

Innovent Biologics, Inc. (IVBIY) and AnHeart Therapeutics announced the acceptance of a second New Drug Application (NDA) by China's NMPA for taletrectinib, a treatment for ROS1-positive lung cancer. This marks a significant step in providing a new first-line treatment option for patients with this type of cancer.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 6:15 am

TSLA

RBC Capital Markets analyst Tom Narayan emphasized that Tesla Inc (NASDAQ:TSLA) is more than a car company, highlighting its focus on autonomy and energy storage. Narayan's insights follow a tour of Tesla's battery storage facilities, underscoring the potential of its Megapack utility-grade battery storage business. He predicts the battery storage industry could reach $600 billion in annual revenue by 2040, with Tesla potentially capturing $90 billion. This perspective comes amid broader discussions on the electric vehicle (EV) market's profitability and competition from Chinese EV makers.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 5:50 am

Ford Motor Company (NYSE:F) has seen a significant 31.5% year-over-year increase in hybrid vehicle sales, with CNBC's Jim Cramer highlighting the stock as a potential investment opportunity. Despite challenges in the EV market, Ford's EV sales also rose by 80%, and ICE vehicle sales increased by 7.5%, contributing to an overall 10.5% increase in vehicle sales for the month. Ford plans to double the production of its F-150 hybrid pickup to support growth, amidst competition from Chinese EV manufacturers.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 3:22 am

GTLB

MSTR

NIO

PHUN

TSLA

On the first trading day of the week, U.S. stock indices closed lower. MicroStrategy's stock surged 23.59% due to a rally in Bitcoin, nearing an all-time high. GitLab shares rose 1.58% after a positive earnings report. NIO shares fell 7.79% amid analyst downgrades. Phunware's stock jumped 75.28%, influenced by Trump-related stock volatility and a Supreme Court ruling. Tesla shares dropped 7.16% due to decreased sales in China.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 3:13 am

AMD

NVDA

Advanced Micro Devices Inc. (AMD) faces challenges in exporting a China-specific AI chip due to U.S. Department of Commerce restrictions. Despite designing the chip to comply with U.S. export regulations by lowering its performance, officials deemed it too powerful, requiring a license for sale. This is part of broader U.S. efforts to limit China's access to advanced semiconductors, affecting companies like AMD and Nvidia Corporation (NVDA). Meanwhile, Chinese firms like SMIC are advancing in chip development, and Nvidia aims to dominate the Chinese market despite restrictions.

Portfolio Pulse from Ananya Gairola

March 05, 2024 | 2:51 am

BMWYY

RACE

TSLA

VWAGY

Fund Manager Freddie Lait from Latitude Investment Management advises against investing in EV stocks like Tesla due to profitability concerns. He recommends focusing on established automakers such as Ferrari, General Motors, Volkswagen, and BMW, highlighting Ferrari's strong business performance and future plans for an electric vehicle.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 2:04 am

AMD

FXI

SPY

Bloomberg reports that AMD faces a US regulatory obstacle in selling its AI chip specifically designed for the Chinese market. This development could impact AMD's business operations in China and potentially affect its stock price.

Portfolio Pulse from Charles Gross

March 05, 2024 | 1:45 am

DOGEUSD

ETHUSD

SHIBUSD

Shiba Inu's lead developer, Shytoshi Kusama, hints at a decentralized SHIB world, calling for community support. Kusama's comments coincide with SHIB's significant rally, making it the top-performing coin recently. The upcoming launch of Shib Name Service v1.1 is anticipated to further decentralize and enhance SHIB's ecosystem. Ethereum co-founder Vitalik Buterin comments on the underinvestment in crucial crypto technology amid meme coin surges.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 1:10 am

AMCX

AMC Networks Inc (NASDAQ:AMCX) premiered 'The Walking Dead: The Ones Who Live,' a new spinoff of its successful franchise, achieving the biggest series premiere in over six years and the highest single-day sign-ups for its streaming platform, AMC+. Despite recent share price declines following a missed earnings estimate, this development could signal a positive turn for the company, especially in boosting its streaming subscriber base, which reported a modest year-over-year increase in the fourth quarter.

Portfolio Pulse from Chris Katje

March 05, 2024 | 12:08 am

EYEN

Formosa Pharmaceuticals and AimMax Therapeutics have received FDA approval for Clobetasol Propionate Ophthalmic Suspension 0.05%, aimed at treating post-operative inflammation and pain following ocular surgery. They plan to collaborate with Eyenovia, Inc. for U.S. commercialization, while also seeking to expand into additional territories and advance their early-stage pipeline.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 10:59 pm