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BMBL

CRM

MTCH

Bumble Inc's CEO Whitney Wolfe Herd is stepping down and will be succeeded by Slack's CEO Lidiane Jones on Jan. 2, 2024. Jones, who has worked at Microsoft, Sonos, and Salesforce, is taking over at a time when the dating app market is losing steam. However, she plans to leverage AI technology to enhance connections and community-building within the Bumble platform. Bumble shares have been trading higher since the announcement.

Portfolio Pulse from Surbhi Jain

November 08, 2023 | 6:30 pm

BBIO

LUMO

Lumos Pharma Inc announced that its Phase 2 OraGrowtH210 and OraGrowtH212 trials met all primary and secondary endpoints. The trials demonstrated the sustained effectiveness of AHV up to 24 months and a clean safety profile for LUM-201. The company's Q3 cash of $42.7 million is expected to provide a runway through Q3 2024. Lumos Pharma's stock is trading higher by 13.80% at $4.14.

Portfolio Pulse from Vandana Singh

November 08, 2023 | 6:20 pm

CMCSA

FOX

FOXA

RUM

The third Republican primary debate for the 2024 U.S. presidential election will be held on November 8, 2024. Comcast Corporation (NASDAQ:CMCSA) has secured the rights to broadcast the debate on NBC, while Rumble (NASDAQ:RUM) will live stream the event. Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA) aired the first two debates. Former President Donald Trump, who leads in the polls, will not attend the debate but will host a rally instead.

Portfolio Pulse from Chris Katje

November 08, 2023 | 6:18 pm

AVDL

Avadel Pharmaceuticals reported $7.0 million in net product revenue for Q3, exceeding analysts' estimates of $5.09 million. This revenue is largely due to the sales of Lumryz, a sleep disorder drug launched in the U.S. in June. The company also reported a Q3 EPS loss of $(0.41) versus $(0.33) a year ago. Over 1,000 patients enrolled in Avadel's RYZUP patient support services, with more than 400 patients initiating therapy with Lumryz during Q3. The company's shares are up 11.6% at $11.58.

Portfolio Pulse from Vandana Singh

November 08, 2023 | 6:18 pm

ABNB

Airbnb Inc (NASDAQ:ABNB) is introducing new features and artificial intelligence enhancements to its app to boost user trust in the platform's reliability. The update includes a 'Guest Favorite' badge for listings with over a 4.9-star rating and less than 1% host cancellations. The firm will also launch a new AI feature that categorizes images according to the room type and offer an expanded view of reviewers' experiences in the listing reviews.

Portfolio Pulse from Vandana Singh

November 08, 2023 | 6:14 pm

GOOG

GOOGL

Google has expanded its Generative AI in Search to over 120 new countries and territories. Additionally, it has enabled four new languages: Spanish, Portuguese, Korean, and Indonesian for everyone using SGE.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 6:04 pm

F

TSLA

As Tesla's Cybertruck Delivery Event approaches, a leaked picture shows three high-powered outlets in the Cybertruck's bed, capable of charging other electric vehicles at high speed. This feature is seen as a comparison to Ford's F-150 Lightning, which also includes power outlets. However, recent leaks of the Cybertruck's front trunk have not shown any outlets like those in the Ford F-150 Lightning.

Portfolio Pulse from Benzinga EV Insights

November 08, 2023 | 5:35 pm

XRPUSD

Ripple has upgraded its payments platform to expand its business interests in the U.S. and Africa. The new platform, Ripple Payments, targets corporate clients in the U.S. with cross-border payments solutions. The company also announced a partnership with African fintech Onafriq to facilitate cross-border crypto payments between Africa and other markets. Ripple's XRP token price has rallied 37% in the past month.

Portfolio Pulse from Khyathi Dalal

November 08, 2023 | 5:26 pm

LLY

The U.S. Food and Drug Administration has approved Zepbound, a medication for chronic weight management in adults with obesity or overweight. The drug, developed by Eli Lilly and Co., has been proven effective in two randomized, double-blind, placebo-controlled trials. However, the FDA warns that the safety and effectiveness of coadministration of Zepbound with other medications for weight management have not been established. Zepbound also carries warnings for several potential side effects, including pancreatitis, gallbladder problems, hypoglycemia, acute kidney injury, and diabetic retinopathy.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:17 pm

DRRX

Durect Corporation's shares are trading lower after the company announced that its Phase 2B AHFIRM trial did not achieve statistical significance for either dose on the primary endpoint of mortality or transplant at 90 days.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 5:06 pm