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GSK

PFE

ViiV Healthcare, which is majority-owned by GSK and has Pfizer and Shionogi as stakeholders, has submitted a New Drug Submission for Cabotegravir to Health Canada for Pre-exposure Prophylaxis (PrEP). The submission is currently under priority review, which could expedite the approval process.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:16 pm

MDRX

Veradigm, a healthcare information technology solutions provider, has projected its revenue for the fiscal year 2023 to be between $608 million and $622 million.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:14 pm

TGB

Taseko Mines Limited (NYSE:TGB) reported a 26% increase in annual copper production from its Gibraltar mine, with 123 million pounds produced in the full year. Q4 2023 saw 34 million pounds of copper and 369 thousand pounds of molybdenum produced. The company experienced higher copper grades and mill throughput, despite downtime for maintenance. Copper sales volumes reached 36 million pounds in Q4, with year-end concentrate inventories above normal levels. The company anticipates continued strong performance in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:09 pm

AMD

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd. (TSM) reported a decrease in December revenues by 8.4% year-over-year, but still beat analyst estimates for Q4 sales, driven by demand for AI chips. Despite a drop in smartphone and laptop chip sales, the company's performance was bolstered by orders from NVIDIA Corporation (NVDA) and Advanced Micro Devices, Inc. (AMD). TSMC expects a recovery in demand leading up to 2024 and executives are optimistic about growth in their high-performance computing business.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 1:06 pm

BABA

SPY

Alibaba Group Holding Ltd (BABA) stock is trading lower despite positive developments in its logistics arm Cainiao and Cloud segment. Cainiao is launching a service in the U.S. to consolidate multiple purchases into a single package, reducing delivery times to five days. The service targets Chinese consumers and students in the U.S. and offers reduced delivery times and costs. Cainiao's expansion to the U.S. is part of its strategy to capture the international market, having managed over 1.5 billion cross-border e-commerce parcel deliveries last year. Additionally, Alibaba's DingTalk has launched an updated workplace collaboration app with an AI agent function. Despite these developments, Alibaba stock lost over 37% last year, underperforming the SPDR S&P 500 ETF (SPY), which gained over 21%. BABA shares traded lower by 0.94% at $71.35 in premarket trading on Wednesday.

Portfolio Pulse from Anusuya Lahiri

January 10, 2024 | 1:05 pm

MRTX

The European Commission has granted approval to Mirati Therapeutics' Krazati (Adagrasib) for the treatment of KRASG12C-mutated advanced non-small cell lung cancer in patients who have undergone at least one prior systemic therapy. This marks a significant regulatory milestone for Mirati Therapeutics, potentially impacting its market presence in Europe.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:04 pm

AEHR

Aehr Test Systems (NASDAQ:AEHR) shares dropped by 15% in pre-market trading due to the company's revised full-year revenue guidance, citing expected delays in new orders. Other stocks also experienced significant movements in pre-market trading, with various companies such as Exicure, Inc. (NASDAQ:XCUR) and iCoreConnect Inc. (NASDAQ:ICCT) seeing gains due to specific catalysts like patent grants and strategic acquisitions, respectively.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 1:03 pm

AMGN

XERS

Xeris Biopharma has signed an exclusive worldwide license agreement with Amgen for the Xeriject formulation of teprotumumab, used for treating Thyroid Eye Disease. Xeris could receive up to $75M in development and regulatory milestones.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 1:03 pm

ARBK

AYX

NN

Three tech stocks, Argo Blockchain plc (ARBK), NextNav Inc. (NN), and Alteryx, Inc. (AYX), are showing signs of being overbought according to their Relative Strength Index (RSI) values. ARBK recently raised $9.9 million and its stock surged 58% over the past month, with an RSI of 70.53. NN appointed a new CEO and saw a 14% stock increase over five days, with an RSI of 71.11. AYX, set to be acquired by private equity firms, rose 6% over the past month, with an RSI of 73.58.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 12:54 pm

XPEV

XPeng Aeroht, the flying car subsidiary of XPeng Inc (NYSE:XPEV), showcased its flying supercar concept at CES 2024. The vehicle features a design that allows for both driving and flying, with manipulator arms and rotor systems that can be folded into the car. XPeng Aeroht also updated on its modular flying car, the 'Land Aircraft Carrier,' which has separate aerial and ground modules. Pre-orders in China will start in Q4 this year, and mass production is expected in 2025 with a price around one million yuan ($140,764).

Portfolio Pulse from Anan Ashraf

January 10, 2024 | 12:49 pm