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NVO

The FDA has announced that Wegovy, an injection with a dosage of .25 mg/.5 ml, is currently experiencing limited availability. The estimated duration of this shortage is yet to be determined.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 6:12 pm

ARGX

JNJ

Johnson & Johnson announced positive results from Phase 3 VIVACITY and Phase 2 DAHLIAS studies of nipocalimab for treating generalized myasthenia gravis and Sjögren’s disease, respectively. Nipocalimab showed significant clinical effects, marking it as a new contender in the FcRn antagonist category, competing with Argenx SE's Vyvgart Hytrulo. Vyvgart Hytrulo, approved by the FDA in June 2023 for gMG, is expected to generate $2.5 billion in revenue. The news impacted JNJ and ARGX stock prices.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 6:10 pm

AMZN

BABA

JD

PDD

Alibaba's Q4 earnings report is anticipated with hope by investors after a prolonged downturn in its stock value. Despite a broad market rout in China, Alibaba's shares showed resilience, with a slight gain in the U.S. and minimal loss in Hong Kong. The earnings expectations have slightly decreased, but Alibaba's co-founders have shown confidence by purchasing significant amounts of stock. The company is undergoing restructuring under new CEO Eddie Wu, focusing on e-commerce and considering selling non-core assets. Competitors like PDD Holdings and JD.Com are mentioned as part of the competitive landscape, while Alibaba's efforts in cloud computing and AI are highlighted as potential growth areas.

Portfolio Pulse from Neil Dennis

February 05, 2024 | 6:01 pm

ETHUSD

On Sunday, 3,396.50 Ether (ETH) worth approximately $7.8 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -1.50% yesterday.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 6:00 pm

BA

SPR

BofA Securities analyst Ronald J. Epstein maintains a Neutral rating on Boeing Co (NYSE:BA) with a price target of $225, despite the FAA's halt on 737 production. The halt is expected to pressure Boeing's 2025/2026 production and FCF targets but is seen as beneficial in the long term for a stronger production system. The analyst raised FY24 and FY25 EPS estimates but lowered FY26 forecasts due to new quality defects in 737 Max airplanes discovered by Boeing's supplier, Spirit AeroSystems Holdings Inc (NYSE:SPR), potentially delaying deliveries. Boeing's Q4 revenue increased by 10% YOY, with an adjusted loss per share improvement.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 5:55 pm

RBLX

Roblox has launched AI-powered real-time chat translations in 16 languages, enabling users worldwide to communicate seamlessly in their preferred language. This feature, built on Roblox's proprietary AI technology, supports instantaneous text chat translations among users. The technology aims to enhance global user interaction, with over 70M daily users and 19.7 million new friendships formed daily. Roblox's initiative reflects its commitment to global growth and user engagement, with plans to expand AI-powered translations to all user experiences, including voice.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:40 pm

AMZN

KSS

WMT

$24.5 billion of fraudulent returns during the holiday season has major retailers like Walmart and Amazon fighting back with new strategies. Walmart warns of higher prices or store closures, while Amazon spent $1.2 billion and employed 15,000 people to combat fraud using machine learning. Kohls Corp. has also adjusted its return policies to mitigate losses.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 5:36 pm

BA

SPR

Spirit AeroSystems (SPR) shares dropped following the announcement that the company informed Boeing about mis-drilled holes in 737 Max fuselages, potentially affecting Boeing's production.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:29 pm

PLRX

Pliant Therapeutics Inc (NASDAQ:PLRX) reported 12-week interim data from its INTEGRIS-PSC Phase 2a trial of bexotegrast for primary sclerosing cholangitis, showing positive outcomes but leading to a 10.7% drop in stock price to $15.53. The 320 mg dose group met primary and secondary endpoints, demonstrating good tolerance and improved liver function indicators without a dose relationship for adverse events.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 5:26 pm

TSLA

Piper Sandler analyst Alexander Potter maintained an Overweight rating on Tesla, Inc. (NASDAQ:TSLA) but reduced the price target from $295 to $225, citing a lowered 2024 volume estimate from 2.18 million units to 1.93 million units. The reduction is attributed to Tesla's aging product lineup and the prioritization of the Cybertruck over a cheaper, more broadly appealing vehicle. Despite near-term skepticism, Potter remains bullish on Tesla's long-term prospects, highlighting the potential in non-automotive segments like Tesla Energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 5:22 pm