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ARM Holdings plc made its U.S. stock market debut, with its stock trading close to 20% higher due to the artificial intelligence frenzy. The company raised $4.87 billion from 95.5 million American depositary shares at $51.00 per ADS. CEO Rene Haas sees a potential revenue of $28 billion in cloud computing by 2025. Softbank Group Corp chose to retain 90% of the company, releasing 10% of its shares to public investors. ARM's clients include Apple Inc., Alphabet Inc., Nvidia, and Advanced Micro Devices, many of whom are its anchor investors.

Portfolio Pulse from Anusuya Lahiri

September 14, 2023 | 5:26 pm

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MRNA

SNY

Moderna Inc (MRNA) conducted an R&D Day event outlining its strategic initiatives across four key areas. The company's Phase 3 seasonal influenza vaccine met the non-inferiority threshold required for approval, paving the way for a combination vaccine. Moderna aims for up to 15 product launches across the four verticals over the next five years, targeting annual sales of $10 billion-$15 billion by 2028 in oncology, rare disease, and latent disease sectors. They also anticipate revenues of $8 billion-$15 billion from the respiratory franchise by 2027. Goldman Sachs sees this as a transition beyond a COVID-centric business for Moderna.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 5:23 pm

CHRS

Coherus Biosciences has received FDA supplemental approval for Yusimry 40MG on BLA 761216. The approval allows for the inclusion of treatment of non-infectious intermediate, posterior and panuveitis in adult patients.

Portfolio Pulse from Charles Gross

September 14, 2023 | 5:20 pm

USB

U.S. Bancorp (NYSE:USB) has launched a new initiative to serve small-to-midsize healthcare practices with up to $25 million in annual revenue. The bank aims to help these providers accept payments, streamline operations, and improve patient experience. The service also includes wealth management expertise to help practitioners achieve their personal financial goals. The bank is adding over 50 new positions nationwide to power the initiative.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 5:15 pm

CMND

FWBI

PFSW

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Several stocks experienced significant price movements in Wednesday's mid-day session. First Wave BioPharma shares jumped 89.5% after announcing a license agreement for capeserod from Sanofi. PFSweb gained 48.3% following GXO Logistics' acquisition announcement. Taseko Mines, Avalo Therapeutics, NeuBase Therapeutics, MYT Netherlands Parent, Soluna Holdings, Nikola Corporation, Trinseo, Alaunos Therapeutics, Orchestra BioMed Holdings, Eiger BioPharmaceuticals, Uniti Group, Lixiang Education Holding, TransCode Therapeutics, and Novo Integrated Sciences also saw gains. On the other hand, Sezzle, Clearmind Medicine, BIOLASE, OKYO Pharma, IBEX, Bionomics, MicroCloud Hologram, Harpoon Therapeutics, ZyVersa Therapeutics, Super League Enterprise, Axcella Health, BIMI International Medical, Impel Pharmaceuticals, PureCycle Technologies, Ivanhoe Electric, SIMPPLE, Iovance Biotherapeutics, Radiant Logistics, CS Disco, Ambipar Emergency Response, Genius Sports, and Vital Energy saw declines.

Portfolio Pulse from Lisa Levin

September 14, 2023 | 4:58 pm

AAPL

Apple Inc has unveiled its new iPhone 15 series, including the iPhone 15 Pro, which is capable of running modern AAA games. The company claims that the iPhone 15 Pro offers smoother graphics and a more immersive gaming experience. The phone also features a USB-C port, influenced by European regulations. However, there are questions about the device's battery performance when running demanding games.

Portfolio Pulse from Franca Quarneti

September 14, 2023 | 4:57 pm

ASND

Ascendis Pharma has received a positive opinion from the Committee For Medicinal Products For Human Use for TransCon PTH, a treatment for adults with chronic hypoparathyroidism. The final decision from the European Commission is expected within 67 days. If approved, the first launch in the European Union is planned for early 2024 in Germany.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 4:31 pm

CBDD

CBD of Denver, Inc. (OTC:CBDD) has announced that its subsidiary, Luxora, is making a move into the European cannabis market by signing four Letters of Intent for the establishment and operation of four Cannabis Clubs in Germany. Luxora is introducing a 'Production Facility Rental Model' to support these clubs, which will supply unique cannabis strains, positioning Luxora for pending German legislation expected to legalize cannabis clubs. CBD of Denver is also repositioning Berliner Innovation and adopting a 'North American-style' social media approach to expand its product offerings in Europe.

Portfolio Pulse from Nicolás Jose Rodriguez

September 14, 2023 | 4:18 pm

AXLA

Axcella Health has been granted European Patent Number EP3668499, titled 'Branched-Chain Aminoacids For The Treatment Of Liver Disease'. This could potentially open up new markets for the company in Europe.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 4:17 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are recovering after a significant drop due to multiple fires involving the company's electric vehicles. The company's CEO, Steve Girsky, addressed these issues and shared an optimistic view of Nikola's future during a recent webcast. Girsky highlighted the company's hydrogen fuel cell vehicles and infrastructure ambitions, which are unaffected by the battery-electric vehicle recall. He also emphasized strong consumer demand and the impact of state and federal EV rebates and incentive programs.

Portfolio Pulse from Erica Kollmann

September 14, 2023 | 4:02 pm