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IMAX

IMAX CEO Rich Gelfond stated in an interview with Liz Claman that the three-week exclusive theatrical window release of the Oppenheimer film will demonstrate that simultaneous release on screens and streaming is a failed experiment.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 7:49 pm

GLASF

Luke Scarmazzo, brand & justice ambassador for Glass House Brands Inc. (OTCQX:GLASF), spoke at the Benzinga Cannabis Capital Conference about his vision for the cannabis industry and prison reform. After serving a 15-year prison sentence for cannabis-related offenses, Scarmazzo is advocating for those still imprisoned for similar crimes. He plans to continue supporting organizations like Mission Green, 40 Tons, and Freedom Grow Forever, and to start a brand that will contribute to this cause.

Portfolio Pulse from Joana Scopel

July 17, 2023 | 7:49 pm

GOOG

META

Google has decided not to allow its new AI chatbot, Bard, to be used in Canada due to regulatory uncertainty related to the Online News Act. The law will require tech companies to compensate Canadian news outlets for content shared on their platforms. Meanwhile, Meta has started an ad campaign on Facebook to criticize the law and explain why it's removing news from the platform.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 7:46 pm

META

Analysts from JMP Securities, Goldman Sachs, and Credit Suisse have maintained positive ratings on Meta Platforms Inc (NASDAQ:META) and raised their price targets. The analysts cited strong engagement trends, improving ad performance driven by AI, and a stable advertising environment as reasons for their optimism. They also highlighted the potential of products like Reels and AI, and the increased adoption of Advantage+ for ads. The analysts expect Meta's revenue growth to be driven by core Facebook and Instagram, as well as the monetization of WhatsApp, Messenger, and Reels.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 7:44 pm

PBR

Petrobras CEO, Jean Paul Prates, announced that the company's total investments for the 2024-2028 business plan will be similar to the latest 5-year plan. The new plan will focus more on renewable energy, but the development of offshore pre-salt oil fields will still be important.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 7:43 pm

ABBV

BGNE

Citi has initiated coverage on BeiGene Ltd with a Buy stock rating and a price target of $275. The analyst suggests that BeiGene's flagship asset Brukinsa is positioned to become the favored BTK inhibitor for Chronic lymphocytic leukemia. The FDA has accepted Brukinsa's supplemental application for a fifth indication, with a target action date in Q1 of 2024. The analyst projects Brukinsa to generate global sales of ~$4 billion by 2028. BeiGene's Q1 FY23 global sales of Brukinsa stood at $211.4 million. Pharmacyclics, an AbbVie Inc company, has filed a complaint alleging that BeiGene's blood cancer therapy Brukinsa infringes a Pharmacyclics patent.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 7:32 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) is planning to double the size of its Berlin factory, aiming to produce up to one million electric vehicles annually. The company has applied to increase its production capacity at the existing factory in Brandenburg, including battery production. The expansion plan has received preliminary approval, with full approval pending the completion of an environmental impact study. Tesla's shares are up 168% so far this year. The company is due to report its quarterly financial results on July 19.

Portfolio Pulse from Piero Cingari

July 17, 2023 | 7:13 pm

AAVEUSD

AVAXUSD

ETHUSD

LINK

MATICUSD

SNXUSD

Chainlink has launched its Cross-Chain Interoperability Protocol (CCIP) on Ethereum, Optimism, Polygon, and Avalanche blockchains. The protocol is designed to facilitate the development of cross-chain applications and services. Major DeFi protocols such as Synthetix and Aave are adopting the protocol. CCIP provides developers with the flexibility to build their own cross-chain solutions and enables protocols to transfer tokens across chains quickly and securely.

Portfolio Pulse from Murtuza Merchant

July 17, 2023 | 6:51 pm

JANX

Janux Therapeutics Inc (NASDAQ:JANX) announced positive interim Phase 1 clinical data for its prostate cancer candidate, PSMA-TRACTr JANX007. The drug has been well tolerated with no dose-limiting toxicities and showed clinical activity. Concurrently, Janux priced an underwritten offering of over 4 million shares and pre-funded warrants, expecting to raise approximately $60 million. William Blair notes that Janux shares are currently undervalued based on the potential of the company’s TRACTr platform.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 6:36 pm

VTGN

Vistagen Inc has revealed new data from a preclinical study of its itruvone nasal spray, a potential treatment for major depressive disorder. The study showed that a single intranasal administration of itruvone was undetectable in the brain and most other tissues, supporting the proposed mechanism of action of the spray. Vistagen recently reported that itruvone is now staged for potential Phase 2B clinical development in the U.S. VTGN shares are up 1.69% at $1.80 on the last check Monday.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 6:31 pm