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ANGO

AngioDynamics, Inc. (ANGO) has sold its PICC and Midline product portfolios to Spectrum Vascular for up to $45 million in cash. This sale is part of AngioDynamics' strategy to optimize its product portfolio and focus on high-growth markets. The divested products contributed approximately $43.5 million in annual sales. Additionally, AngioDynamics has discontinued its radiofrequency ablation and Syntrax products, which contributed about $5.5 million in annual sales. The company expects the divestiture and discontinuations to be accretive to fiscal 2024 gross margin but slightly dilutive to adjusted earnings per share. AngioDynamics will provide updated fiscal 2024 guidance in its upcoming earnings call.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:30 pm

FTI

SHEL

TechnipFMC has been awarded a substantial contract by Shell for the first integrated Engineering, Procurement, Construction, and Installation (iEPCI) project to utilize high-pressure subsea production systems rated up to 20,000 psi. This marks a significant advancement in subsea engineering and could set a new standard for deep-water exploration and production.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:27 pm

ROKU

Roku, Inc. (NASDAQ:ROKU) has surpassed significant milestones, reaching over 80 million active accounts and more than 100 billion streaming hours in 2023. The company's active account base in the U.S. now exceeds the combined subscribers of the six largest traditional pay-TV providers. Roku also launched its own line of TVs and expanded its TV licensing program. These achievements underscore Roku's position as a leading TV streaming platform, with the highest streaming hours in the U.S. and Mexico and the top-selling TV operating system in the U.S., Canada, and Mexico in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:27 pm

TTOO

T2 Biosystems, Inc. (TTOO) reported preliminary Q4 revenue of $1.7M, missing the $2.4M estimate, and FY23 revenue of $7.2M, below the $7.9M estimate. The company expects FY24 revenue of $10M-$11M, against a $10.8M estimate. TTOO achieved record U.S. sales of the T2Bacteria Panel, expanded its international distribution, and received FDA clearances for its products. It also presented a plan to regain Nasdaq compliance and amended its term loan agreement to strengthen its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:24 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) announced the expansion of its commercial business through exclusive distribution agreements in the Netherlands, Belgium, Vietnam, and Switzerland for its rapid sepsis detection products. This expansion is aimed at leveraging the high demand for sepsis diagnostics in these regions, with significant patient populations affected by infections and sepsis. The agreements cover the sale of the T2Dx Instrument and various sepsis test panels, promising faster detection and treatment of sepsis-causing pathogens and antibiotic resistance genes.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:21 pm

TSHA

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) announced updates on its deprioritized pipeline programs, including the termination of an old loan and security agreement and the initiation of a new one to facilitate the transfer of IP for these programs. The new agreement extends Taysha's cash runway into 2026. The company has made progress on several programs, such as transferring rights for TSHA-120 to NINDS and TSHA-101 back to Queen's University. Taysha continues to focus on its lead TSHA-102 program for Rett syndrome while exploring partnerships for other deprioritized programs.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:21 pm

HROW

Harrow, Inc. (NASDAQ:HROW) has entered into an exclusive out-licensing agreement with Apotex Inc., Canada's largest pharmaceutical company, to market and distribute five branded ophthalmic pharmaceutical products in Canada. The agreement includes the marketing and distribution of VERKAZIA® and Cationorm® PLUS, as well as pursuing market approval in Canada for VEVYE®, IHEEZO®, and ZERVIATE®. This partnership marks Harrow's entry into the Canadian market, aiming to enhance access and availability of these ophthalmic products to Canadian patients.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:20 pm

VIAV

VIAVI Solutions Inc. (VIAV) announced its VIAVI Xgig CXL Exerciser has been approved as a CXL 1.1 Gold device by the CXL Consortium, enabling it to qualify CXL devices for the CXL Integrators List. This certification is crucial for the development and testing of high-speed computing applications like AI and ML. The approval highlights VIAVI's role in the CXL validation ecosystem, with Micron acknowledging VIAVI's contribution to CXL protocol compliance. VIAVI will showcase its CXL solutions at the CXL Developers' Conference in 2024.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:17 pm

COHU

Cohu has announced securing orders for its new µ-sense microphone tester, a recent addition to its MEMS test solution portfolio. The financial terms of the orders were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 9:13 pm

AAPL

MSFT

Apple is developing an artificial intelligence tool aimed at competing with Microsoft's GitHub Copilot, according to Bloomberg. This move signifies Apple's entry into the growing market of AI-driven coding assistance tools, directly challenging Microsoft's established product.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 8:56 pm