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23andMe has received FDA 510(K) clearance to expand its existing BRCA1/BRCA2 genetic health risk report. The clearance allows the company to report an additional 41 variants in the BRCA1 and BRCA2 genes associated with higher risk for certain types of cancer.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 9:29 pm

MSFT

SONY

Sony Group Corp. has announced a global price increase for its PlayStation Plus 12-month subscriptions across all tiers, effective from September 6. The price hike is justified by Sony as a means to continue providing high-quality games and value-added benefits to subscribers. The price adjustment follows a similar move by Microsoft Corp, which raised the prices of Xbox Game Pass.

Portfolio Pulse from Franca Quarneti

August 31, 2023 | 9:12 pm

EOSE

Eos Energy has announced 'Project AMAZE,' a $500 million program aimed at addressing long-duration energy storage demand. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 8:22 pm

SAM

Paul Weaver, director and head of cannabis at the Boston Beer Company Inc. (NYSE:SAM), spoke at the Benzinga Cannabis Capital Conference in Miami about the potential future of the cannabis industry. He suggested leveraging the existing infrastructure of the beverage industry to create a seamless consumer experience in the cannabis retail ecosystem. Weaver will be a featured speaker at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27-28.

Portfolio Pulse from Joana Scopel

August 31, 2023 | 7:44 pm

VTAK

Catheter Precision, Inc. (NYSE:VTAK) has entered a distribution partnership with Singapore-based medical device distributor, Somnotec. The partnership will see Somnotec distribute Catheter Precision's LockeT closure device in Singapore, Philippines, Malaysia, Indonesia, and Brunei. The company is also looking to expand into South America, Central America, the Middle East, Japan, and Australia.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 7:38 pm

GM

HYMTF

QCOM

VLVOF

Qualcomm Inc is expanding its automotive chip business using generative artificial intelligence (AI). The company is selling its Snapdragon Digital Chassis to automakers including General Motors Co, Hyundai Motor Co, Ltd, and Volvo Car AB. Qualcomm's revenue from automotive sales is relatively small, but it projects substantial growth, with an estimated sales target of over $9 billion by 2031. The company is also working on creating a smart user guide and leveraging AI for driver monitoring.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 6:46 pm

CRNX

Oppenheimer has initiated coverage on Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) with an Outperform rating and a price target of $40. The analysts note significant room for improvement in drugs targeting chronic endocrine disorders and believe that Crinetics Pharmaceuticals is well-positioned to improve the treatment condition for these disorders. The company's Phase 3 development success in acromegaly could generate ~$250 million in peak sales. CRNX shares are up 6.90% at $17.66 on the last check Thursday.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 6:12 pm

MRNA

Moderna Inc's (NASDAQ:MRNA) shares are trading lower by 2.4% to $113.80. The stock has seen volatility due to rising COVID-19 cases in the U.S. Increased demand for vaccines could potentially drive higher sales of Moderna's vaccine doses. If booster shots are recommended, Moderna's stock could rise from additional vaccine sales. Moderna has a 52-week high of $217.25 and a 52-week low of $95.02.

Portfolio Pulse from Henry Khederian

August 31, 2023 | 6:03 pm

ATVI

Activision Blizzard Inc has partnered with Modulate to use an AI technology called ToxMod to identify and flag negative behaviors such as hate speech, discrimination, and harassment in real-time in the voice chats of its game Call of Duty. The initial beta rollout of ToxMod started in North America and is active in Call of Duty: Modern Warfare II and Call of Duty: Warzone. A global release, excluding Asia, is planned for Nov. 10, coinciding with the launch of Call of Duty: Modern Warfare III.

Portfolio Pulse from Franca Quarneti

August 31, 2023 | 5:51 pm

MLTX

SLRN

UCBJF

UCBJY

Needham has initiated coverage on MoonLake Immunotherapeutics (NASDAQ:MLTX) with a Buy rating and a price target of $76. The company's lead product, sonelokimab (SLK), is seen as a potential best-in-class treatment for chronic dermatological ailments, outperforming established biologics. The market opportunity for SLK is estimated at $30 billion, expected to grow to $40-$50 billion by the mid-2030s. Needham sees UCB SA's (OTC:UCBJY) (OTC:UCBJF) bimekizumab and izokibep by Acelyrin Inc (NASDAQ: SLRN) as the main competitors to SLK.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 5:38 pm