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INCY

REPL

Replimune Group, Inc. (REPL) and Incyte (INCY) have announced a clinical trial collaboration and supply agreement to study RP1, Replimune's lead product candidate, in combination with INCB99280, Incyte's small molecule oral PD-L1 inhibitor. The trial, expected to initiate in early 2024, will focus on patients with high risk, resectable cutaneous squamous cell carcinoma (CSCC). Both companies will share equally in the costs of the study.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 8:45 pm

AVGO

SYNA

Synaptics has entered a new wireless deal with Broadcom, adding Broadcom's Wi-Fi 7, Bluetooth 6.0, and Bluetooth Enterprise True Wireless Stereo (TWS) IP to accelerate Synaptics' roadmap. This is to meet the growing demand for robust IoT connectivity across diverse applications such as home multimedia, automotive infotainment, security cameras, tablets, and audio headsets.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 8:19 pm

PLTR

Palantir Technologies Inc. has been selected by the Defense Information Systems Agency (DISA) to support coordination between federal and commercial licensees of the 3450 - 3550 MHz spectrum band. Palantir's software will be used to automate workflows, reduce timelines for licensee coordination with the Department of Defense, and enable deployment of 5G wireless services.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 8:06 pm

SONY

Sony Group Corp's latest PS5 beta update will introduce new accessibility and audio options, as well as social features and UI enhancements. The update will also allow users to expand their PS5 storage with larger-capacity M.2 SSDs, with the maximum capacity being increased to 8TB from the previous limit of 4TB. The update is expected to roll out worldwide to PlayStation 5 consoles before the end of the year.

Portfolio Pulse from Franca Quarneti

July 31, 2023 | 7:57 pm

AMZN

SPKY

UVXY

Amazon.com, Inc (NASDAQ:AMZN) is trading slightly higher ahead of its Q2 earnings release on Thursday. Investors are keen to see how Amazon Web Services is performing, especially after Microsoft and Google reported slowed growth in their cloud businesses. Traders can trade the potential volatility using the ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund that tracks the SPIKES Futures Short-Term Index.

Portfolio Pulse from Melanie Schaffer

July 31, 2023 | 7:37 pm

NKLA

Nikola Corporation's shares are trading higher following the announcement by JB Hunt that it will purchase 13 trucks from the company.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:35 pm

AAPL

Piper Sandler analyst Harsh Kumar has maintained an Overweight rating on Apple Inc (NASDAQ:AAPL) and raised the price target from $180 to $220. Kumar expects Apple to deliver September assumptions that will match or slightly exceed street expectations, driven by strength in India for iPhone sales offset by general macro weakness in China. He also expects Apple to slightly miss street EPS expectations for June. The analyst believes that Apple's iPhone sales in China will meet internal expectations, but is concerned about sales of other products in the country. India is emerging as a rapidly growing market for Apple, with the company likely to reach a 5% share within the country this year.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 7:23 pm

AAPL

AMD

AMZN

GOOG

INTC

MSFT

Artificial Intelligence (AI) is increasingly becoming a central part of tech companies' business strategies, with mentions of AI during earnings calls reaching record highs in Q2. Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) mentioned AI the most, with 62 mentions, followed by Intel (NASDAQ:INTC) and Microsoft (NASDAQ:MSFT) with 58 mentions each. Other companies such as Advanced Micro Devices (NASDAQ:AMD), Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN) are also expected to discuss AI in their upcoming earnings calls. AI mentions are also increasing outside the tech sector, with over a third of S&P 500 companies mentioning AI this quarter.

Portfolio Pulse from Natan Ponieman

July 31, 2023 | 6:58 pm

AMAM

RBC Capital Markets has initiated coverage on Ambrx Biopharma Inc (NASDAQ:AMAM) with an Outperform rating and a price target of $29. The analysts see potential for significant growth due to the company's promising prostate cancer program and an undervalued asset in Her2+ breast cancer. They believe the company's unique ADC constructs may provide therapeutic advantages over other products. If clear evidence of post-Enhertu activity emerges from the expected trial of ARX788 updates over the next 18 months, it could reignite enthusiasm for a substantial annual U.S. sales opportunity of approximately $400 million.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 6:50 pm

ALNY

AZN

IONS

Citi analyst has upgraded Ionis Pharmaceuticals Inc (IONS) from Neutral to Buy with a price target of $60, up from $36, due to key pipeline developments. Ionis recently completed enrollment in Phase 3 CARDIO-TTRansform study of eplontersen and expanded its collaboration with AstraZeneca (AZN) for commercialization of eplontersen in Latin America. The FDA decision for eplontersen is expected by YE2023. The analyst also shows interest in donidalorsen for HAE, with a pivotal Phase 3 readout expected in the first half of 2024.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 5:55 pm