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CTLT

Invenra has announced a collaboration with Catalent to co-discover novel bispecific antibody-drug conjugates (ADCs). This partnership aims to leverage Invenra's expertise in antibody discovery and Catalent's capabilities in ADC development to create innovative treatments.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:59 pm

TM

Toyota Motor Corp (NYSE:TM) shares declined after the company reported a 21.8% year-over-year increase in U.S. sales for March 2024, with sales of electrified vehicles making up 36.4% of the total. Despite the positive sales data, shares dropped by 0.89% to $239.99. The company highlighted its diverse portfolio of 27 electrified vehicle options across the Toyota and Lexus brands and announced plans to launch over 20 new or refreshed vehicles, including hybrid versions of the Tacoma, Land Cruiser, and Camry.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 5:57 pm

AAPL

AMZN

FCX

MSFT

NVDA

QQQ

SPY

TSLA

Freeport-McMoRan Inc (FCX) has outperformed NVIDIA Corp (NVDA) due to optimism about China's economy, a major copper user. Positive PMI data from China and comments from Fed Chair Powell on interest rates have influenced market movements. Early trade money flows show positive trends for AMZN, MSFT, TSLA, neutral for NVDA, META, GOOG, and negative for AAPL. Mixed flows are observed in SPY and QQQ. The article also highlights the importance of portfolio construction and diversification.

Portfolio Pulse from The Arora Report

April 02, 2024 | 5:55 pm

VEEV

Veeva Systems Inc. (NYSE:VEEV) shares dropped due to the announcement of CFO Brent Bowman's departure by April 1, 2024, and other significant management changes. Despite this, Veeva reiterated its Q1 revenue outlook of $640-$643 million and FY revenue of $2.725-$2.740 billion. The company also detailed the transition plan for Veeva CRM customers to Vault CRM, expected to start in early 2025.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 5:23 pm

HON

Honeywell International Inc. is considering selling its personal protective equipment (PPE) unit, valued at over $2 billion, due to decreased demand post-pandemic. The company is exploring strategic options with an adviser, including a potential sale primarily to private equity firms. This move aligns with CEO Vimal Kapur's strategy to focus on aerospace, energy transition, and automation systems. Honeywell's PPE unit includes products like respiratory protection and face masks.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:15 pm

GM

General Motors Co. (NYSE:GM) reported a 6% increase in retail sales year-over-year and delivered 594,233 vehicles in the U.S. in Q1 2024, a slight decrease of 1.5% due to lower fleet deliveries. GM maintained its leadership in key vehicle categories and is on track with its Ultium Platform EV production, including the Cadillac LYRIQ.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:08 pm

QDEL

QuidelOrtho Corporation (NASDAQ:QDEL) received FDA 510(k) clearance for its QuickVue COVID-19 test but announced the withdrawal of its FDA submission for the Savanna RVP4+ assay due to underperformance against clinical market expectations. Despite this, RBC Capital Markets maintains an Outperform rating and a price target of $81. QDEL shares dropped 10.6% to $42.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 5:05 pm

SBUX

Starbucks (NASDAQ:SBUX) has seen significant bullish options activity, with 80% of traders showing bullish sentiment. The analysis of options history revealed 10 unusual trades, with a focus on a price window from $60.0 to $95.0. Notable trades include both puts and calls, with a bullish sentiment on puts being particularly interesting. Starbucks operates over 38,000 stores globally and is currently trading at $89.65, down by -2.06%. Analysts have set an average price target of $101.8, with varying ratings from Overweight to Market Perform.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 5:01 pm

ABT

The FDA has approved Abbott Laboratories' TriClip, a transcatheter edge-to-edge repair system designed for treating tricuspid regurgitation (TR) without the need for open-heart surgery. This approval is based on the TRILUMINATE Pivotal trial, which showed that 90% of patients experienced significant improvement in their TR grade, with a highly favorable safety profile. TriClip, leveraging technology similar to Abbott's MitraClip, is expected to see high sales growth and has been approved in over 50 countries, treating over 10,000 people.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 5:00 pm

ACB

CGC

Aurora Cannabis Inc. (NASDAQ:ACB) and Canopy Growth Corporation (NASDAQ:CGC) stocks are trading higher after Florida's Supreme Court ruled to allow a recreational marijuana legalization initiative on the November ballot. The stocks have rallied significantly, with Aurora up more than 50% and Canopy Growth over 160% in the past month, amid legalization in Germany and hopes of rescheduling in the U.S. Technical analysis suggests Aurora's stock could see bullish trends based on its moving average.

Portfolio Pulse from Erica Kollmann

April 02, 2024 | 4:49 pm