Streetbeat News

Products Services

BMWYY

HMC

HYMLF

TSLA

BMW Manufacturing has partnered with robotics startup Figure to deploy humanoid robots at its Spartanburg, South Carolina facility. The collaboration will explore AI, robot control, manufacturing virtualization, and robot integration. Tesla's Elon Musk recently discussed the potential of robots building other robots and unveiled Optimus Gen 2. Other automakers like Honda and Hyundai are also investing in humanoid robots for assembly lines. Tesla's stock was down 2.5% to $210.15.

Portfolio Pulse from Nabaparna Bhattacharya

January 18, 2024 | 5:24 pm

FCX

Freeport-McMoRan Inc (NYSE:FCX) experienced a 'golden cross' as its 50-day SMA crossed over its 200-day SMA, indicating bullish sentiment. The company, a major global copper supplier, is one of Fidelity's top material sector picks for 2024 due to favorable demand-supply dynamics. Goldman Sachs' report suggests FCX could outperform, noting its 26% gross margin five-year average and its trading at a 14% discount to the sector median EV/EBITDA. Freeport-McMoRan is set to report Q4 earnings on Jan. 24 with expected EPS of 24 cents and revenue of $5.86 billion.

Portfolio Pulse from Surbhi Jain

January 18, 2024 | 5:20 pm

NVCR

Novocure Ltd (NASDAQ:NVCR) announced the FDA has accepted its PMA application for Tumor Treating Fields (TTFields) therapy for non-small cell lung cancer. The application is under review, with a decision expected in the second half of 2024. Clinical trials showed that TTFields therapy, when used with standard therapies, improved median overall survival in patients. NVCR stock is trading higher by 21.70% following the news.

Portfolio Pulse from Vandana Singh

January 18, 2024 | 5:20 pm

ARKK

DKNG

DraftKings, Inc. (NASDAQ:DKNG) stock is trading higher, with a nearly 10% increase over the past five days. Ark Invest, led by Cathie Wood, sold 229,215 shares of DraftKings through the ARK Innovation ETF (NYSE:ARKK), valued at approximately $8.04 million. DraftKings has launched its online sportsbook in Vermont, expanding its reach to 26 U.S. states and Ontario, Canada. BMO Capital analyst Brian Pitz initiated coverage on DraftKings with an Outperform rating and a price target of $43, citing the potential for the U.S. sports-betting market to exceed $100 billion.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 5:17 pm

MEIP

MEI Pharma has filed a U.S. patent application (No. 20240016781) for the treatment of KRAS mutant cancers. This filing could potentially strengthen MEI Pharma's intellectual property portfolio and support its efforts in developing cancer treatments targeting KRAS mutations, which are common in many cancers.

Portfolio Pulse from Charles Gross

January 18, 2024 | 5:09 pm

VRNS

DA Davidson has downgraded Varonis Systems (NASDAQ:VRNS) to Neutral and raised the price target from $37.00 to $45.00. Varonis Systems' shares are currently trading at $45.08, down 0.62% over the last 24 hours. A price target of $45.00 implies a slight decrease from the current price. Varonis is a cybersecurity company transitioning to cloud-based services.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:00 pm

RSLS

ReShape Lifesciences has had its U.S. Patent Application #20240016635 published today for an 'Intragastric Device for Treating Obesity.' This development could potentially enhance the company's intellectual property portfolio and strengthen its position in the obesity treatment market. The publication of the patent application is a step forward in the patent process, but it does not guarantee that a patent will be granted. Investors may view this news as a positive sign of innovation and future growth potential for ReShape Lifesciences.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 5:00 pm

AGFY

ARAV

EHTH

MDC

PCSA

TSM

U.S. stocks were mostly higher with the Nasdaq Composite up over 1%. The Dow was slightly down, while the S&P 500 gained. Information technology shares led gains, while health care shares declined. Crude oil inventories decreased more than expected, boosting oil prices. Agrify Corporation announced a significant sales agreement, M.D.C. Holdings will be acquired by Sekisui House, and Taiwan Semiconductor reported strong financial results. Conversely, Aravive plans to delist from Nasdaq, Processa Pharmaceuticals announced a reverse stock split, and eHealth was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 5:00 pm

LEVI

Safilo Group and Levi Strauss & Co. have announced the renewal of their global eyewear licensing agreement until the end of 2029. The partnership leverages Levi's strong brand and global distribution network in Europe, North America, and Asia. Both companies share a commitment to sustainability and aim to cater to the contemporary segment and younger generations.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 4:53 pm

AAPL

FXI

iPhone prices are being reduced in China ahead of the Lunar New Year due to declining sales and increased competition from domestic brands like Huawei. Alibaba's Tmall and JD.com are offering significant discounts on iPhones, with Tmall's promotion running until January 31. Apple is also providing discounts at its physical stores and website in China, though less steep than the online retailers. iPhone shipments in China dropped by 4% year-on-year for Q3 2023, and sales in the first week of 2024 fell by approximately 30% compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 4:40 pm