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HCM

HUTCHMED has received Breakthrough Therapy Designation (BTD) from China's National Medical Products Administration for the combination of fruquintinib and sintilimab for the treatment of patients with advanced endometrial cancer. The treatment is specifically for patients with pMMR1 tumors that have failed at least one line of platinum-based therapy.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 5:07 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has stated that the company's Robotaxi products will be a 'massive driver' of growth, with volume production expected in 2024. Musk has been promoting the idea of fully autonomous Tesla vehicles functioning as a Robotaxi since 2019. However, Tesla is yet to achieve complete self-driving capability. ARK Invest's Cathie Wood also expressed optimism about Robotaxis, predicting that the autonomous taxi platform business will grow globally to $8-$10 trillion in revenue in 2030.

Portfolio Pulse from Anan Ashraf

July 20, 2023 | 4:52 am

BIIB

ESALF

Eisai and Biogen have presented the latest analysis of Lecanemab's effect on biomarker changes and subcutaneous dosing at AAIC 2023.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 4:51 am

NFLX

Netflix's crackdown on password-sharing has resulted in an influx of 5.9 million new subscribers worldwide, according to the company's Q2 earnings report. The move was initially slated for Q1 but was pushed back due to the scale of the issue. The crackdown has been successful, with Netflix co-CEO Greg Peters stating that customer retention is quite good. The company also introduced a more affordable ad-supported plan to regain momentum after last year's subscriber loss.

Portfolio Pulse from Ananya Gairola

July 20, 2023 | 4:33 am

LGIH

LGI Homes has expanded its presence in Florida by launching new homes in Port Charlotte. This move is expected to increase the company's market share in the region.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 4:29 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has stated that the company is continuing to build release candidates of the Cybertruck on the final production line in Austin. While no clear timeline for delivery or pricing details were provided, Musk confirmed that deliveries are expected to commence later this year. The production ramp of the Cybertruck will be as fast as the slowest element of the supply chain. Demand for the Cybertruck is high, with over 1.5 million pre-orders as of November last year.

Portfolio Pulse from Anan Ashraf

July 20, 2023 | 3:59 am

TSLA

Tesla Inc (NASDAQ:TSLA) announced it will allow the transferability of its full-self driving (FSD) software package as a one-time opportunity in Q3. This move will enable existing customers to transfer their FSD to a new Tesla vehicle, a feature previously unavailable due to the high cost of the FSD package. Tesla's CEO, Elon Musk, stated that the company is close to achieving complete self-driving capability.

Portfolio Pulse from Anan Ashraf

July 20, 2023 | 3:05 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is in early discussions to license its self-driving technology to a major automaker. The potential partnership would involve integrating Tesla’s self-driving computer and camera system into the vehicles of the unnamed automaker. This development comes amid increasing scrutiny of Tesla’s Autopilot and Full Self-Driving features, which have been linked to 736 accidents and 17 fatalities in the U.S. since 2019.

Portfolio Pulse from Benzinga Neuro

July 20, 2023 | 2:33 am

META

Elon Musk has agreed with a Twitter user's analogy comparing Instagram to 'Barbie' and Twitter to 'Oppenheimer', highlighting the different target audiences of the two platforms. Twitter CEO Linda Yaccarino also joined the conversation. This comes as Meta Platforms Inc. recently announced a Twitter alternative called Threads, which has gained 100 million sign-ups but needs to improve user engagement.

Portfolio Pulse from Ananya Gairola

July 20, 2023 | 2:20 am

TSLA

Tesla Inc. reported its Q2 financial results, with revenue reaching $24.93 billion, a 47% increase YoY, beating the consensus estimate of $24.48 billion. The company also highlighted progress on the Cybertruck and the 4680 Cell’s production. Reactions to the report were generally positive, with analysts noting Tesla's strategic outperformance of other EV players. However, some pointed out that the earnings beat was primarily driven by a $400 million swing in 'Other Income', and operating income was down 3% YoY and 10% QoQ.

Portfolio Pulse from Benzinga Staff

July 19, 2023 | 11:56 pm