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ACRV

Acrivon Therapeutics announced positive Phase 2b clinical data for ACR-368 in ovarian and endometrial cancers, showing a 50% response rate in OncoSignature-positive patients. The company also highlighted the initial clinical validation of its AP3 platform and accelerated IND filing timelines for ACR-2316, a dual WEE1/PKMYT1 inhibitor. The R&D event showcased the potential of ACR-368 and ACR-2316, along with the AP3 platform's ability to predict treatment responders.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:44 pm

KPTI

Karyopharm Therapeutics Inc. (NASDAQ:KPTI) announced its participation in the 2024 American Society of Clinical Oncology Annual Meeting, where it will present updated data on selinexor for endometrial cancer and myelofibrosis. The company highlighted the long-term benefits of selinexor, a novel cancer therapy, in a Phase 3 study of endometrial cancer patients with TP53wt tumors. Additionally, Karyopharm will present on selinexor's use in myelofibrosis in both a Phase 3 trial design and a Phase 2 study. Selinexor, marketed as XPOVIO in the U.S., is approved for multiple oncology indications and is being further investigated in various cancer types.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:42 pm

PEGA

Pegasystems has announced its strong position to accelerate profitable growth, highlighting its financial strength and unique GenAI capabilities. The company's focus on leveraging artificial intelligence through its GenAI technology positions it for significant advancements and potential market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:34 pm

CCS

Century Communities projects to deliver 10,000 to 11,000 homes in 2024, with expected home sales revenues ranging from $3.8 billion to $4.2 billion.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:29 pm

AMZN

MSFT

Amazon.com Inc's Fallout TV series on Prime Video has significantly increased the number of Fallout game players, with Bethesda, a Microsoft Corp. subsidiary, reporting nearly 5 million daily players. The surge in gameplay has been supported by data from Steam, showing increased players for Fallout 4, Fallout 76, and Fallout: New Vegas, along with revenue growth for Fallout Shelter. The upcoming next-gen update for Fallout 4 is expected to attract even more players.

Portfolio Pulse from Franca Quarneti

April 24, 2024 | 8:23 pm

HCP

IBM

IBM reported Q1 earnings with a slight revenue miss and an EPS beat. Revenue grew 1% YoY to $14.46 billion, missing estimates by $0.09 billion, while EPS at $1.68 exceeded expectations. The company highlighted growth in software revenue and its AI strategy, including the success of watsonx. IBM also announced the acquisition of HashiCorp Inc for $35 per share, a deal valued at $6.4 billion, expected to close by end of 2024. IBM anticipates mid-single digit revenue growth and $12 billion in free cash flow for the full year.

Portfolio Pulse from Adam Eckert

April 24, 2024 | 8:23 pm

SNAP

Deep-pocketed investors have shown a bearish sentiment towards Snap Inc. (NYSE:SNAP), with a significant move in options trading detected by Benzinga's options scanner. The data reveals 52 unusual options activities, with a bearish majority of 69% and bullish minority of 26%. Notable trades include both puts and calls with strike prices ranging from $8.5 to $30. Significant trading activity suggests expectations for Snap's stock price movement within this range over the next three months. Snap, known for its social networking app Snapchat, has over 400 million daily active users and derives most of its revenue from advertising. Despite the bearish options sentiment, Snap's stock is currently neutral with an RSI indicator and is expected to release its next earnings in 1 day. Analysts have recently adjusted their ratings and price targets for SNAP, with an average target price of $13.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 8:16 pm

F

Ford anticipates improvements in electric vehicle (EV) costs but expects these gains to be counterbalanced by top-line pressures. The company reported a decline in Model E revenue, attributed to decreased wholesales and significant industrywide pricing pressure.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:15 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) saw a 12% increase in its shares, the strongest session since January 2022, despite Q1 2024 earnings missing Wall Street expectations. The surge was fueled by Tesla's plans for more affordable models and a positive rating upgrade from Bank of America. Analyst John Murphy highlighted Tesla's effective challenge management, cost-saving efforts, and potential revenue streams from licensing its Full Self-Driving technology. Technical analysis suggests a rebound from oversold levels, with a near-term target of $176, 9% below its 50-day moving average.

Portfolio Pulse from Piero Cingari

April 24, 2024 | 8:11 pm

HCP

IBM

IBM announces the acquisition of HashiCorp Inc. for $35 per share in cash, totaling an enterprise value of $6.4 billion. This acquisition adds HashiCorp's hybrid and multi-cloud lifecycle management products to IBM's portfolio, aiming to address the complexities of AI-driven application growth. HashiCorp's capabilities are expected to synergize with IBM's strategic areas such as Red Hat, watsonx, data security, IT automation, and consulting. The transaction is anticipated to be accretive to IBM's Adjusted EBITDA within the first year post-close and to free cash flow in the second year. HashiCorp, with a client base of over 4,400, including 85% of the Fortune 500, is set to enhance IBM's hybrid cloud platform for the AI era.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 8:08 pm