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TM

Toyota has issued a statement regarding the recent malfunction in their production order system that led to the suspension of their domestic plants. The malfunction was caused by insufficient disk space on servers processing parts orders, not a cyberattack. The system was restored after data was transferred to a larger server and countermeasures have been put in place to prevent a recurrence.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:56 pm

CGC

Canopy Growth Corporation's subsidiary, Canopy Growth Germany GmbH, is rebranding from Spectrum Therapeutics to Canopy Medical in the German market. This move aligns the company's medical business with the corporate Canopy Growth brand and reinforces its commitment to the German medical cannabis market. The rebranding will be phased in to ensure continuity of service for customers and partners. Canopy Growth recently reported first-quarter sales of CA$109 million ($81.2 million), beating the analyst consensus estimate of CA$67.98 million.

Portfolio Pulse from Jelena Martinovic

September 06, 2023 | 3:45 pm

LMT

Lockheed Martin Corporation (NYSE:LMT) has updated its F-35 Technology Refresh 3 (TR-3) schedule, now expecting the first TR-3 jet delivery between April and June 2024, a delay from the previously anticipated 2023. The company now plans to deliver 97 aircraft in 2023, down from the earlier expectation of 100 to 120 jets. Despite the delay, Lockheed Martin does not expect this to impact its 2023 financial outlook, but is assessing potential impacts to 2024. Following the news, LMT shares dropped by 4.59%.

Portfolio Pulse from Nabaparna Bhattacharya

September 06, 2023 | 3:35 pm

SAVA

Cassava Sciences has completed enrollment for its main RETHINK-ALZ Phase 3 clinical trial for the treatment of Alzheimer's disease. This starts a 52-week countdown to a major data readout.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:35 pm

CDTX

JNJ

Cidara Therapeutics Inc's stock is trading higher after Johnson & Johnson's unit, Janssen Pharmaceuticals, decided to proceed with CD388 (JNJ-0953), a drug being developed for the universal prevention of influenza A and B. Janssen will assume responsibility for future development, manufacturing, and commercialization activities of CD388. Cidara will receive a $7 million milestone payment and is eligible to potentially receive an additional $685 million in milestone payment, plus tiered royalties on worldwide sales.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 3:26 pm

TSLA

Tesla Inc's shares are trading lower by 3.59% amid overall market weakness. The company reported a 9.4% YoY increase in China sales in August and a 30.92% MoM increase. Tesla's Shanghai Gigafactory has produced 2 million vehicles. China's large automobile market and supportive regulatory environment for EVs present immense sales potential for Tesla.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:22 pm

CELUSD

COIN

Coinbase Global Inc. has launched a new cryptocurrency lending service for U.S. institutional investors, filling a gap left by companies like BlockFi Inc. and Genesis Global. The company's Prime platform reported a $57 million investment in this venture. The service allows institutions to lend their digital assets to Coinbase under uniform conditions. This comes after Coinbase halted new loans via their 'Coinbase Borrow' service earlier in May.

Portfolio Pulse from Murtuza Merchant

September 06, 2023 | 3:21 pm

WMT

Books-A-Million is partnering with Walmart GoLocal to offer same- and next-day delivery for customers across its 231 locations nationwide. The service will be rolled out in the coming weeks, starting with Southeast and Midwest markets. Customers will be able to place orders online and have them delivered the same or next day. The partnership aligns with Books-A-Million's commitment to enhancing customer experience and adapting to the evolving retail landscape.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 3:06 pm

AAPL

The U.S. government has invested at least $22 million into developing smart clothing that can record audio, video, and geolocation data. The program, called Smart Electrically Powered and Networked Textile Systems (SMART ePANTS), aims to make performance-grade, computerized clothing a reality. The program will be launched in three phases and is expected to significantly improve the capabilities of agencies like the Department of Defense, Central Intelligence Agency and Department Of Homeland Security. Apple Inc is expected to release its latest iPhone on Sept. 12 during its 'Wonderlust' launch event.

Portfolio Pulse from Adam Eckert

September 06, 2023 | 2:47 pm

MSFT

A gamer in California credited Microsoft Corporation's (NASDAQ: MSFT) video game 'Starfield' for saving his family from a late-night apartment fire. The man, known as 'tidyckilla' on Reddit, was awake playing the game when an explosion occurred in his neighbor's apartment. His swift response in evacuating his family saved their lives. Local news confirmed the loss of at least one life in the incident.

Portfolio Pulse from Franca Quarneti

September 06, 2023 | 2:27 pm