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KOMP

EHang Holdings Limited (NASDAQ:EH) shares are up following the announcement of Japan's first urban air mobility (UAM) Center in Tsukuba City, established in partnership with AirX Inc. The center, which includes a demonstration flight site and maintenance base for EHang's EH216-S aircraft, marks a significant step in urban air mobility. The UAM Center can accommodate about 25 EH216-S units and serves various modern air mobility demands. The EH216-S has already conducted flights in 12 cities in Japan, demonstrating its versatility. EHang's stock has seen a significant increase, gaining over 96% in the past year.

Portfolio Pulse from Nabaparna Bhattacharya

March 22, 2024 | 3:02 pm

GENE

Genetic Technologies announced the development of the world's most advanced comprehensive risk test, aimed at revolutionizing personalized healthcare, causing its shares to rise.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:01 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) is on track to double its LNG portfolio to 40 million tons per annum by 2030, ahead of schedule. The company aims to focus on selling its own gas, differentiating itself from competitors like Shell and Total. This expansion is part of a broader corporate reorganization started in 2022. Exxon's LNG production is nearing 30 mtpa, with significant growth expected from the Golden Pass LNG project. Investors can gain exposure to Exxon through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

March 22, 2024 | 2:54 pm

OTLK

Outlook Therapeutics Inc (NASDAQ:OTLK) shares surged after the European Medicines Agency's Committee for Medicinal Products for Human Use issued a positive opinion on ONS-5010/LYTENAVA for wet AMD. The stock's volume significantly exceeded the average, indicating strong investor interest. The company is exploring direct commercialization and partnerships in Europe. This development follows a series of clinical trials and discussions with the FDA regarding the product's approval.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 2:51 pm

NKE

Nike Inc (NYSE:NKE) shares fell after reporting Q3 results that beat estimates but provided guidance suggesting a challenging path ahead. Analysts adjusted their price targets and ratings, acknowledging Nike's strategic shifts towards innovation, sports focus, inventory reduction, and wholesale presence improvement. These changes are expected to impact sales and profitability negatively in the short term, particularly in the first half of 2025. However, analysts see these steps as necessary for long-term growth and margin expansion, with some viewing the stock's current weakness as a buying opportunity.

Portfolio Pulse from Chris Katje

March 22, 2024 | 2:44 pm

AAPL

BIDU

GOOG

NVDA

Apple Inc is in preliminary talks with Baidu Inc to incorporate Baidu's generative AI technology into Apple devices in China, adhering to local regulations. This move is part of Apple's broader strategy to enhance its AI capabilities, alongside considering partnerships with global AI leaders like Alphabet Inc's Google and OpenAI. The discussions highlight Apple's commitment to the Chinese market, despite efforts to diversify its supply chain and challenges in iPhone sales in China. U.S. sanctions on China impact Nvidia Corp, a key AI chip supplier to Apple, especially as Baidu shifts to Huawei, intensifying competition.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:41 pm

MTNB

Matinas BioPharma Holdings Inc (NYSE:MTNB) reported a complete clinical response in three patients with invasive fusarium infection treated with MAT2203, leading to a 13.70% increase in its stock price. The patients were part of the Compassionate/Expanded Use Access Program, showcasing MAT2203's effectiveness where other treatments failed or were not viable due to side effects. This success bolsters confidence for the upcoming ORALTO Phase 3 trial in invasive aspergillosis patients.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 2:37 pm

LLY

NVO

PFE

Patients are suing Eli Lilly and Novo Nordisk, claiming severe side effects from diabetes and weight loss drugs Ozempic and Wegovy. Over 60 lawsuits have been filed against Novo Nordisk, with more expected. Eli Lilly also faces legal challenges. The lawsuits question the safety of GLP-1 agonists, despite the companies defending their drugs' efficacy. Pfizer reported high dropout rates due to side effects in a trial for obesity drug danuglipron. LLY shares rose, while NVO shares fell.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 2:34 pm

ASML

BABA

BIDU

NVDA

Huawei Technologies Co and a Chinese chipmaking partner have developed a patent for self-aligned quadruple patterning (SAQP), potentially bypassing the need for ASML Holding NV's EUV lithography machines, which are restricted from sale to China by US export controls. This development could allow for the production of advanced semiconductors without ASML's technology. Following this news, ASML's stock price fell. Additionally, Huawei's advancements in semiconductor technology and strategic moves, such as outbidding Nvidia Corp for a significant AI chip order from Baidu Inc, alongside Alibaba Group Holding Limited's reported plans to reduce Nvidia chip orders, highlight a shift in the semiconductor landscape.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:30 pm

CGC

Canopy Growth Corporation (CGC) shares are rising following Germany's legalization of cannabis, marking a significant shift in the legal and cultural stance on cannabis. This change, effective April 1, 2024, positions Canopy Growth, through its Storz & Bickel vaporizer brand and Canopy Medical, as a top player in the German market. The legalization offers growth opportunities for recreational and medical cannabis sectors, with Canopy Growth aiming to expand its commercial presence and drive medical cannabis awareness and education.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:30 pm