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PFE

Basilea Pharmaceutica announced a $1.25M milestone payment from Pfizer due to strong sales of antifungal Cresemba in Asia Pacific and China. This is the third milestone for the region this year, reflecting Cresemba's commercial potential and status as a leading brand for invasive mold infections. Cresemba is approved in 76 countries and marketed in 71, with a 19% year-on-year growth reaching $421M in sales.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 7:25 am

MDT

Medtronic plc (NYSE:MDT) has received FDA approval for its Symplicity Spyral renal denervation system, a minimally invasive device to treat hypertension. The device, which delivers radiofrequency energy to nerves near the kidneys, represents a significant milestone in hypertension treatment. Medtronic will immediately begin commercialization in the U.S., addressing a major global health issue with a new treatment option that complements existing medications and lifestyle changes. The approval follows ten years of clinical research and development, and the device is already approved for commercial use in over 70 countries.

Portfolio Pulse from Benzinga Newsdesk

November 19, 2023 | 8:31 pm

CSCO

DIS

PLTR

VLVLY

VRTX

Barron's weekend stock picks include Disney, Palantir, and Cisco, with each facing different challenges and opportunities. Disney is under pressure from two activist investors to increase shareholder value. Palantir's stock is on the rise due to positive results and analyst optimism. Vertex Pharmaceuticals' stock fell over concerns about its pain pill trial. Volvo's stock drop is seen as a potential opportunity. Cisco Systems faces a poor outlook due to pandemic fallout, despite good quarterly results.

Portfolio Pulse from Justin Chan

November 19, 2023 | 1:18 am

DIS

DKNG

FWONA

FWONK

PENN

The sports betting sector saw several key developments, including the launch of ESPN Bet by PENN Entertainment in partnership with The Walt Disney Company. ESPN Bet is live in 17 states, offering $200 in bonus bets and topping iOS charts. Other highlights include Christian McCaffrey's touchdown streak ending, potential Taylor Swift's impact on Travis Kelce's performance, NFL Thanksgiving Day betting, Jim Harbaugh's suspension, a bettor winning a $5.5 million parlay, and Formula One betting odds for the Las Vegas Grand Prix.

Portfolio Pulse from Chris Katje

November 18, 2023 | 7:16 pm

GSK

MRK

Merck & Company, Inc.'s (NYSE:MRK) new drug gefapixant faces skepticism from an FDA advisory panel due to questionable efficacy and side effects. The panel voted 12 to 1, highlighting minor reductions in cough frequency and a high dropout rate in trials. Despite Merck's defense of gefapixant, the FDA's final decision is pending for December 27. If approved, gefapixant will compete with GSK Plc's (NYSE:GSK) camlipixant. Merck's cancer drug was recently approved for a type of gastric cancer. MRK shares dropped slightly by 0.24%.

Portfolio Pulse from Nabaparna Bhattacharya

November 18, 2023 | 6:21 pm

AMZN

META

MSFT

SOXX

TSLA

The stock market saw gains for the third consecutive week, with major indexes rising. U.S. inflation slowed in October, and retail sales contracted slightly. Benzinga's event discussed fintech and digital assets. Bullish views included Amazon's blockchain head discussing a Bitcoin ETF, Microsoft's raised target price due to AI and custom chips, and Dogecoin's potential rally. Bearish perspectives involved Tesla's struggles in China, Michael Burry's short bet against the semiconductor sector, and a developer favoring Apple's Vision Pro over Meta's Quest.

Portfolio Pulse from Michael Cohen

November 18, 2023 | 5:22 pm

FSR

KARS

NKLA

RIVN

TSLA

VWAGY

Electric vehicle stocks saw gains in the week ending Nov. 18, with Tesla (TSLA) up over 10% despite controversy over CEO Elon Musk's support for antisemitic content. Tesla faces union issues in Sweden and prepares for the Cybertruck launch. Nikola (NKLA) announced the resignation of CFO Anastasiya Pasterick. Fisker (FSR) reported disappointing Q3 results and internal control weaknesses. Rivian (RIVN) offers incentives for R1T purchases. Volkswagen (VWAGY) recalls ID.4s over flammability concerns. The KraneShares Electric Vehicles ETF (KARS) ended the week up 4.51% but down 0.88% on Friday.

Portfolio Pulse from Shanthi Rexaline

November 18, 2023 | 2:39 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has communicated its commitment to the Swedish market despite an ongoing strike by IF Metall, a workers' union representing Tesla mechanics. The strike, which began in late October, is over the lack of collective bargaining agreements, a standard in Swedish labor relations. Tesla highlighted its recent opening of a V4 Supercharger in Sweden and the success of its Model Y, which is the best-selling car model in Sweden this year. The strike has escalated, with dockworkers, cleaning staff, and electricians joining in, affecting vehicle offloading, showroom maintenance, and charging station servicing.

Portfolio Pulse from Anan Ashraf

November 18, 2023 | 8:15 am

TSLA

Tesla Inc (NASDAQ:TSLA) is set to deliver the first 10 Cybertrucks at a delivery event at Gigafactory Texas on November 30. This information was confirmed by Tesla’s product design director Javier Verdura. Despite Elon Musk's previous hints about the Cybertruck, details on performance and pricing remain undisclosed. Musk has projected a future annual delivery target of 250,000 Cybertrucks, potentially by 2025, acknowledging the challenges of bringing special products to market.

Portfolio Pulse from Anan Ashraf

November 18, 2023 | 6:13 am

AMZN

Amazon Inc. (NASDAQ:AMZN) is planning to lay off several hundred employees in its Alexa division as the company shifts its focus towards generative AI development. The internal memo from Daniel Rausch, VP of Alexa and Fire TV, indicates a strategic realignment with business priorities, leading to the discontinuation of some initiatives. This follows Amazon's previous layoffs in its Devices & Services division and cutbacks in other sectors. The company's commitment to AI was highlighted by the recent introduction of the 'Let's Chat' feature for Alexa, powered by generative AI.

Portfolio Pulse from Benzinga Neuro

November 18, 2023 | 2:59 am