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AAPL

Jefferies research note predicts further declines in Apple Inc.'s (AAPL) iPhone sales in China, despite new releases. Sales dropped 30% year-on-year and are expected to continue falling into 2024. Discounts haven't led to volume growth, and Apple's market share is affected by Huawei's resurgence with its Mate 60 Pro. The U.S. sanctions have led Huawei to develop its own software ecosystem. Apple's sales are also impacted by China's ban on Apple devices for state-backed firms and government departments, contributing to the sales decline.

Portfolio Pulse from Ananya Gairola

January 08, 2024 | 11:54 am

ASXC

Asensus Surgical expects FY23 unaudited revenue of $8.2M-$8.8M, surpassing the consensus estimate of $7.79M. Q4 sales are projected to be $5.1M-$5.7M, also above the consensus of $4.67M. The company reported a 14% increase in global procedures to over 3,550 for the year and initiated eight Senhance Surgical Programs. As of December 31, 2023, Asensus had about $21.0 million in cash and short-term investments. In Q4, over 835 procedures were performed, and five new Senhance Programs were launched in various regions including Germany, Romania, the CIS region, and Japan.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:52 am

CMC

Commercial Metals Company (CMC) anticipates a robust construction season in spring and summer, driven by increased infrastructure investments. This is expected to bolster strong demand in North America Steel and Emerging Businesses beyond Q2.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:52 am

CMC

Commercial Metals Company (CMC) anticipates a compression in margins for steel products in Q2, but expects recent price announcements to lead to an inflection point and improved margins subsequently.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:50 am

MDT

Medtronic has received CE Mark approval in Europe for its MiniMed 780G system, which includes the Simplera Sync, a disposable continuous glucose monitor that eliminates the need for fingersticks or overtape. This regulatory milestone could enhance Medtronic's product offering in the diabetes care market in Europe.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:47 am

BEAM

Beam Therapeutics has announced progress in its hematology and genetic disease portfolios, with sufficient cash to support its operations into 2027. This update indicates a strong financial position and ongoing advancements in its medical research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:39 am

REGN

Regeneron Pharmaceuticals reported preliminary Q4 2023 U.S. net product sales for EyleaHD (Aflibercept) Injection 8mg at approximately $123M, and for Eylea (Aflibercept) Injection at approximately $1.34B, according to an 8K filing.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:38 am

NUVL

Nuvalent has unveiled its 'OnTarget 2026' operating plan, aiming to have its first potential product approved by 2026. The company expects its operating runway to extend into 2027, indicating a strategic roadmap for development and financial stability.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:35 am

CCK

COP

META

MSFT

RMBS

Wall Street's most accurate analysts have made recent stock picks with significant upside potential. Scott Devitt from Wedbush maintains an Outperform rating on Meta Platforms (META) with a price target increase to $420, seeing a 19% upside. John Freeman of Raymond James keeps a Strong Buy on ConocoPhillips (COP) with a reduced target of $140, indicating a 21% upside. John Roberts from Mizuho continues a Buy rating on Crown Holdings (CCK) with a target raised to $105, a 14% upside. Kevin Cassidy of Rosenblatt reiterates a Buy on Rambus (RMBS) with an $85 target, suggesting a 25% surge. Daniel Ives of Wedbush maintains an Outperform on Microsoft (MSFT) with a target upped to $450, a 20% upside. Meta Platforms is launching a fact-checking program, ConocoPhillips is advancing the Willow project, Crown Holdings posted in-line Q3 earnings, Rambus announced a new DDR5 RCD, and Microsoft introduced an AI-driven app for Android.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 11:33 am

GELYY

Geely Automobile Holding's electric car subsidiary, Zeekr, aims to double its car deliveries to 230,000 vehicles in 2024. Zeekr experienced a 65% increase in sales in 2023, delivering 118,685 cars but fell short of its 140,000 target. The company is expanding in Europe, the Middle East, and Asia, and postponed its U.S. IPO due to valuation issues and market instability. Geely's stock (GELYY) closed slightly higher at $21.38.

Portfolio Pulse from Shivani Kumaresan

January 08, 2024 | 11:29 am