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BMY

Bristol Myers Squibb (NYSE:BMY) shares rose after announcing positive Phase 3 trial results for Opdivo plus Yervoy in treating MSI-H/dMMR metastatic colorectal cancer. The trial met its primary endpoint of progression-free survival. The safety profile was consistent with prior data, with no new safety concerns. The study continues to assess other endpoints. Additionally, the FDA accepted a supplemental application for Opdivo with chemotherapy for urothelial carcinoma, granting Priority Review with a goal date of April 5, 2024.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 5:37 pm

JNJ

SNY

VNDA

Vanda Pharmaceuticals Inc (VNDA) has acquired the U.S. and Canadian rights to the multiple sclerosis drug Ponvory from Actelion Pharmaceuticals, a Johnson & Johnson (JNJ) company. The drug is FDA and Health Canada approved for treating relapsing forms of multiple sclerosis (RMS). Vanda paid $100 million for the rights, and Janssen will continue to operate under a Transitional Business License Agreement. Ponvory has shown superiority to Sanofi SA's (SNY) Aubagio in clinical studies. VNDA shares dropped 3.05% to $3.92.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 5:32 pm

KR

Kroger (KR) and Soda Health have partnered to launch a Smart Benefits Program aimed at improving health and nutrition security. The program offers personalized benefits for food, health products, pharmacy, nutrition services, and other social care needs.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:31 pm

RDFN

Redfin has introduced Redfin Redesign, an AI-powered tool developed in partnership with Roomvo and Bright MLS. This tool allows potential buyers to virtually alter the interiors of listed properties and visualize the changes with before-and-after comparisons. The new feature aims to enhance the home buying experience by providing a more interactive way to view properties.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:31 pm

TSLA

The head of Tesla's Dojo supercomputer project has left the company, which could be a setback to Tesla's ambitions in developing advanced AI and autonomous driving technologies. The Dojo supercomputer is designed to process vast amounts of data and is a key part of Tesla's plan to achieve full self-driving capabilities. The departure of the project's lead could slow down the progress and affect Tesla's competitive edge in the autonomous driving space.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:30 pm

GRMN

GSAT

SIRI

SPCE

UFO

The Procure Space ETF (UFO) remains steady as the space sector's significance is highlighted ahead of the 2024 U.S. election. The ETF, which has risen over 8% since October 23, includes key holdings such as Virgin Galactic (SPCE), Garmin (GRMN), Sirius XM (SIRI), and Globestar (GSAT). The space sector's role in various industries like healthcare and agriculture is expected to be a focal point in the election. UFO's chart shows a bullish trend with potential resistance and support levels identified.

Portfolio Pulse from Melanie Schaffer

December 07, 2023 | 5:27 pm

BNED

CYN

DG

PHIO

SVFD

TRKA

ZVSA

U.S. stocks traded mostly higher, with the Nasdaq Composite up by 100 points. Dollar General Corp (NYSE:DG) reported Q3 sales growth of 2.4% to $9.69 billion, surpassing estimates, with EPS of $1.26 beating the $1.19 consensus. Communication services shares led gains, while health care shares declined. Save Foods, Inc. (NASDAQ:SVFD) surged 200% after targeting the US carbon credit market. Cyngn Inc. (NASDAQ:CYN) rose 87% on a new patent announcement. Barnes & Noble Education, Inc. (NYSE:BNED) gained 29% after positive earnings. Troika Media Group, Inc. (NASDAQ:TRKA) plummeted 74% due to Chapter 11 filing. ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA) and Phio Pharmaceuticals Corp. (NASDAQ:PHIO) fell sharply after a public offering and warrant exercise, respectively. Oil prices increased slightly, while gold and silver declined.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 5:18 pm

BIIB

Danielle Brill, an analyst at Raymond James, has upgraded Biogen Inc (NASDAQ:BIIB) from Market Perform to Outperform with a price target of $283, citing positive prospects for its Alzheimer's treatments, Leqembi and Skyclarys. Brill expects Leqembi to gain momentum in 2024, especially with the SC formulation, and Skyclarys to continue its strong U.S. launch and expand into the EU next year. The analyst believes Biogen is trading at an unwarranted discount compared to peers and sees it as an attractive long investment for 2024.

Portfolio Pulse from Priya Nigam

December 07, 2023 | 5:18 pm

META

Meta Platforms has announced the introduction of 'View Once' voice messages on WhatsApp, which will be rolling out globally in the coming days. This feature enhances privacy by allowing messages to be heard only once before they disappear.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:15 pm

GM

General Motors Co (NYSE:GM) has partnered with Autocar Industries, LLC to develop a range of zero tailpipe emissions commercial vehicles using GM's HYDROTEC power cubes. The collaboration aims to provide Autocar's customers with zero emissions solutions, particularly for larger vehicles that require robust energy capacity and quick refueling times. The first vehicles are expected to enter production in 2026 at Autocar's Birmingham, Alabama plant. GM's stock rose 1.76% to $33.49 following the announcement.

Portfolio Pulse from Shivani Kumaresan

December 07, 2023 | 5:13 pm