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QCOM

SSNLF

Qualcomm has announced that its Snapdragon processors will be used in Samsung's new flagship Galaxy phones. The announcement was made during a conference call.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:19 pm

JPM

SPY

Jamie Dimon, CEO of JPMorgan Chase, stated on CNBC that the U.S. remains the most secure and profitable country in the world. He also highlighted the potential of AI as a gamechanger that can do wonderful things.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:02 pm

CYBN

Cybin Inc. has begun dosing the final cohort of its Phase 2 trial for CYB003 in major depressive disorder. Following this announcement, the company's shares have seen a decrease in value.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:00 pm

GO

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Grocery Outlet Holding Corp. (NASDAQ:GO), raising the price target to $40 from $34. The analyst expects Grocery Outlet to benefit from its defensive product mix, value-focused offering, and multi-year store growth. The company is also expected to gain from strategic initiatives, including new store openings, improvement in the product assortment, and partnerships to provide an online offering.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 12:00 pm

JAZZ

Jazz Pharmaceuticals has entered into a letter of intent with the Pan-Canadian Pharmaceutical Alliance (pCPA) for Rylaze, a drug aimed at addressing the unmet needs of acute lymphoblastic leukemia and lymphoblastic lymphoma patients across Canada.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:57 am

CRSP

VRTX

Vertex Pharmaceuticals Inc's Q2 sales increased 14% to $2.49 billion, beating the consensus of $2.41 billion, driven by the strong uptake of Trikafta/Kaftrio. The company's gene-editing therapy for sickle cell disease, in collaboration with CRISPR Therapeutics AG, is under FDA review. Vertex raised its full-year sales forecast for its cystic fibrosis treatments. Analysts remain positive on Vertex's programs in Type 1 diabetes and pain.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 11:56 am

CERE

Cerevel Therapeutics (NASDAQ:CERE) shares are trading lower after the company reported Q2 earnings and a pipeline update. The company has delayed data readout for Emraclidine, a drug in development for schizophrenia and Alzheimer's disease psychosis. The data from two schizophrenia trials is now expected in 2H of 2024, later than the earlier expectation of 1H 2024. The company has also initiated Phase 1 trials for emraclidine in elderly healthy volunteers and is conducting a Phase 2a exploratory trial in dementia-related apathy for CVL-871. The timeline for this trial is under review due to challenges in identifying the appropriate patient population.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 11:54 am

HAS

Rapper Post Malone has reportedly purchased the rarest Magic: The Gathering card, owned by Hasbro Inc (NASDAQ:HAS), for $2.6 million. The card, part of the Lord of the Rings set launched in 2023, is a one-of-one card, meaning there is only one in existence. The purchase comes as Magic: The Gathering sees strong sales growth for Hasbro, with the company reporting a 16% YoY increase in segment revenue in Q1.

Portfolio Pulse from Chris Katje

August 04, 2023 | 11:53 am

MA

V

Visa Inc. faces political uncertainty in its expansion efforts in China due to recent payment collaborations between U.S. and Chinese companies. Priority Technology Holdings has completed its acquisition of Plastiq, strengthening Visa's position in the payment processing industry. EastWest has launched the EastWest Pay App and an enhanced version of their Visa Platinum Card in the Philippines.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 11:52 am

FLGC

Former Minnesota governor Jesse Ventura is planning to launch his own marijuana brand, aiming to keep the state's cannabis market local and not dominated by outside corporations. Meanwhile, WWE legend Hulk Hogan has entered into an exclusive worldwide partnership with cannabis operator Flora Growth Corp. (NASDAQ:FLGC) to launch his consumer products portfolio.

Portfolio Pulse from Jelena Martinovic

August 04, 2023 | 11:49 am