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BTI

PM

Philip Morris International (PM) and British American Tobacco (BTI) have reached a global patent settlement concerning their heated tobacco and vapor products. This agreement resolves all ongoing patent litigation between the two companies, allowing them to focus on the development and marketing of reduced-risk products.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:08 pm

EW

Edwards Lifesciences' EVOQUE valve replacement system has received FDA approval for use in treating tricuspid regurgitation, marking a significant advancement in heart valve therapy.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:03 pm

GRNT

Granite Ridge (GRNT) reported its Q4 operational update, highlighting that its total production averaged around 26 thousand barrels of oil equivalent per day. Specifically, oil production for the quarter averaged about 12 thousand barrels per day.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:58 am

AAPL

META

SPOT

Apple Inc. CEO Tim Cook announced changes to the European App Store in response to the EU's Digital Markets Act, including alternative billing and app stores, which he believes will compromise privacy, security, and usability. The changes, effective in March, allow for sideloading and a reduced commission for alternative payment methods. Meta and Spotify criticized the move, concerned about the potential costs of Apple's 'Core Technology Fee' for developers.

Portfolio Pulse from Rounak Jain

February 02, 2024 | 11:55 am

ETON

Eton Pharmaceuticals has announced the commercial availability of Nitisinone Capsules, targeting an ultra-rare disease market. The company projects the current Nitisinone market to exceed $50M annually.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:53 am

GMAB

PFE

The European Medicines Agency has accepted for review the Marketing Authorization Application for Genmab and Pfizer's Tisotumab Vedotin, aimed at treating recurrent or metastatic cervical cancer that has progressed after systemic therapy.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:47 am

GM

General Motors Co (NYSE:GM) CEO Mary Barra announced during the 2023 earnings call the company's plan to incorporate plug-in hybrid technology into select North American vehicles, alongside its commitment to eliminate tailpipe emissions from light-duty vehicles by 2035. Despite focusing on pure electric vehicles (EVs) for 2024, GM acknowledges the slowed pace of EV growth and is prepared to adjust production based on customer demand. The company had previously withdrawn its EV production target of 400,000 units for the period from 2022 to the first half of 2024.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 11:44 am

XOM

ExxonMobil announced its new MobilTM Lithium business, aiming to become a leading lithium producer for the EV market. The company plans to start production in southwest Arkansas by 2027, with a goal to supply lithium for 1M EVs per year by 2030. Their production approach promises fewer environmental impacts than traditional mining.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:34 am

BP

BP PLC (NYSE:BP) evacuated its Whiting, Indiana refinery due to a transformer failure causing a plant-wide power outage. The incident led to a shutdown of the 435,000 barrel-per-day facility, sparking fears of fuel supply shortages. The outage pushed up gasoline and diesel prices in the area and lowered Canadian crude prices. BP's shares traded 0.51% lower at $34.95 in premarket trading on Friday.

Portfolio Pulse from Lekha Gupta

February 02, 2024 | 11:26 am

ELF

E.L.F. Beauty has introduced its first beauty shopping experience for Apple Vision Pro, utilizing a VisionOS app developed by Obsess. This multi-sensory, immersive application aims to enhance the shopping experience for users.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 11:09 am