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MRKR

Marker Therapeutics' stock is trading higher following a positive clinical update on their APOLLO study.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:25 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has entered into a union agreement with the Communications Workers of America, incorporating AI usage terms into its first U.S. collective bargaining contract. The contract covers staff at ZeniMax video game studio and includes Microsoft's six AI principles. The company must inform the union about AI implementations affecting workers and negotiate impacts. This is part of Microsoft's initiative to integrate AI into its products, with the company recognizing AI's potential to change job roles. Microsoft's union-friendly approach contrasts with some industry peers. Microsoft shares fell by 1.55% to $368.48.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 5:25 pm

CI

COGT

GGE

KTTA

M

MOR

NIR

U.S. stocks traded mixed with the Dow Jones gaining over 100 points, while the NASDAQ fell and the S&P 500 slightly rose. Industrials shares led gains, while communication services lagged. An investor consortium offered $5.8 billion to acquire Macy's Inc. amid competition from digital retailers. Pasithea Therapeutics, MorphoSys AG, and The Cigna Group saw shares rise on positive developments. Cogent Biosciences shares plunged after Phase 2 trial data, Green Giant announced a public offering, and Near Intelligence filed for Chapter 11. Oil and gold traded down, while European and Asian markets showed mixed results.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 5:11 pm

AMZN

TGT

WMT

Walmart is adopting a strategy similar to Target's by using its 4,700 U.S. stores to fulfill e-commerce orders, aiming to compete more effectively with Amazon's online dominance. Walmart CFO John David Rainey emphasized the advantage of their physical footprint for last-mile delivery. Target's 'stores-as-hubs' model, which fulfills 95% of digital orders from store inventories, has been successful, and Walmart is now reallocating store space for digital order sorting and shipping. Walmart's approach could enhance delivery speed, a key factor in e-commerce competition, especially during the holiday season where Amazon leads in online gift shopping.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:08 pm

IRON

Disc Medicine, Inc. (NASDAQ: IRON) reported positive initial data from its phase 1b/2 study of DISC-0974 in patients with Myelofibrosis (MF) and anemia at the ASH Annual Meeting. The data showed dose-dependent reductions in serum hepcidin and increases in serum iron, leading to improved hemoglobin levels and reduced transfusion burden. DISC-0974 was well-tolerated, and the study is ongoing with plans to present more data next year. The company will also discuss the phase 2 BEACON study of bitopertin in EPP.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:03 pm

LLY

Eli Lilly and Co (NYSE:LLY) reported results from the SURMOUNT-4 Phase 3 study of Zepbound (tirzepatide) for obesity, excluding type 2 diabetes. Zepbound met its primary endpoint and key secondary endpoints over placebo. Despite positive results, LLY shares fell by 4.74% to $569.73.

Portfolio Pulse from Vandana Singh

December 11, 2023 | 5:02 pm

NRIX

Nurix Therapeutics, Inc. presented positive clinical data for its BTK degrader programs, NX-5948 and NX-2127, at the ASH Annual Meeting. The data showed favorable safety and efficacy in treating B-cell malignancies, including CLL and NHL. The company plans to further develop NX-5948 in CLL and continue the development of NX-2127 in NHL. Both drugs are in Phase 1 trials and have shown promising results in patients with relapsed or refractory conditions. No serious adverse events leading to drug discontinuation were reported, and dose escalation continues.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:02 pm

ATRA

Atara Biotherapeutics, Inc. (NASDAQ:ATRA) announced preclinical data on ATA3431, a next-generation allogeneic CD20/CD19-targeted CAR T-cell therapy, at the 65th ASH Annual Meeting. The data showed superior anti-tumor activity, survival, and functional persistence compared to autologous CAR-T benchmarks, with no observed treatment-related toxicities or alloreactivity. These findings support the advancement of ATA3431 into IND-enabling studies, with an IND submission planned for 2025. ATA3431 is built on Atara's EBV T-cell platform and does not require TCR or HLA gene editing. The preclinical results suggest potential for overcoming antigen escape, a major cause of treatment resistance or relapse in current CD19-targeted CAR-T treatments.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:01 pm

RNLSY

VWAGY

Renault SA is in talks with potential partners, including Volkswagen AG, to develop the new Twingo electric vehicle (EV), aiming to finalize a partner by early 2024. Renault's finance chief highlighted the goal of democratizing the EV market with the Twingo EV 'Legend', priced under €20,000. The average retail price of an EV in Europe is significantly higher than in China, as reported by JATO Dynamics. Renault's shares (RNLSY) saw a slight decline of 0.45% to $8.11.

Portfolio Pulse from Shivani Kumaresan

December 11, 2023 | 5:01 pm

RLAY

HC Wainwright & Co. has maintained a Buy rating for Relay Therapeutics (NASDAQ:RLAY) but lowered its price target from $19.00 to $17.00. Relay Therapeutics' shares are currently trading at $9.37, and the new price target suggests a potential upside of 81.43%. Relay Therapeutics is a clinical-stage precision medicine company with a focus on drug discovery for intractable or inadequately addressed protein targets, with candidates like RLY-4008, RLY-2608, and GDC-1971 in its pipeline.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:00 pm