Streetbeat News

Products Services

IRWD

Ironwood Pharmaceuticals announced positive results from its Phase 3 STARS trial of apraglutide for Short Bowel Syndrome (SBS) with Intestinal Failure. Apraglutide met its primary endpoint, showing a significant reduction in parenteral support (PS) dependency at week 24. The drug was well-tolerated, and Ironwood plans to submit a new drug application for apraglutide as a once-weekly treatment.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:17 am

TWI

Titan International has announced that it will not provide financial guidance at this time due to the extensive integration work required and the addition of new end markets.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 11:09 am

TSLA

Ross Gerber, a Tesla investor, expressed skepticism about the feasibility of Tesla's new Roadster achieving 0-60 mph in less than a second, citing potential risks. He suggested Elon Musk's motivation might be driven by competition with BYD's Yangwang, a Chinese supercar. Musk aims to finalize the Roadster's design by late 2024, with deliveries in 2025. Gerber believes BYD could succeed in the U.S. market by adopting a strategy similar to Hyundai's Genesis brand.

Portfolio Pulse from Anan Ashraf

February 29, 2024 | 11:01 am

VWAGY

XPEV

XPeng Inc. (NYSE:XPEV) and Volkswagen AG (OTC:VWAGY) have enhanced their partnership by signing an agreement to jointly develop two B-class battery electric vehicles (BEVs) and initiate a Joint Sourcing Program for vehicle parts. This collaboration aims to leverage both companies' strengths, reduce platform costs, and improve the competitiveness of their BEVs. Additionally, XPeng is expanding its global presence through a strategic partnership with Ali & Sons in the UAE, targeting markets in Egypt, Azerbaijan, Jordan, and Lebanon. XPEV shares saw a premarket increase of 3.67% to $9.05.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 10:53 am

AI

MSFT

NVDA

PLTR

XLK

Wedbush's Dan Ives highlights a surge in demand for AI technologies, citing c3.ai's strong Q4 results, Microsoft's Copilot AI tool, Palantir's AI platform, and Nvidia's optimistic forecasts as evidence of an accelerating AI revolution. The AI-levered stocks have seen significant growth, with debates on potential 'irrational exuberance'. Ives compares the current AI optimism to the '1995 Moment', predicting $1 trillion of incremental spending in the next decade. The Technology Select Sector SPDR Fund (XLK) saw a slight decrease in premarket trading.

Portfolio Pulse from Shanthi Rexaline

February 29, 2024 | 10:20 am

CALC

CalciMedica announced it will present data from a preclinical study of Auxora for treating acute kidney injury (AKI) at the 29th International AKI & CRRT Conference. The study shows Auxora improves kidney function in a rat model of AKI, as measured by glomerular filtration rate.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:08 am

VWAGY

XPEV

XPENG and Volkswagen Group have entered into a Master Agreement for strategic technical collaboration and a Joint Sourcing Program. This partnership aims to reduce costs and has already achieved a major milestone in the development of B-class BEVs under the Volkswagen brand.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:05 am

PHG

Royal Philips has introduced the Philips CT 5300 system, which is enhanced with advanced AI capabilities aimed at improving diagnosis, interventional procedures, and screening processes. This innovation is expected to bolster Philips' position in the healthcare technology market by offering sophisticated diagnostic solutions.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:02 am

VKTX

Viking Therapeutics has announced the pricing of its public offering at $85 per share, aiming to raise $550 million through the sale of 6,471,000 common shares. The proceeds are intended for the development of its VK2809, VK2735, and VK0214 programs, alongside general research, working capital, and corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:41 am

MIELF

MIELY

Mitsubishi Electric has signed an agreement with Dispel to enhance its operational technology security business by integrating its factory-automation equipment and OT security solutions with Dispel's secure remote-access technology. This collaboration aims to provide a Zero Trust Remote Access Service for manufacturing facilities, facilitating digital manufacturing and strengthening Mitsubishi Electric's Circular Digital-Engineering business.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:36 am