Streetbeat News

Products Services

SLNO

Cantor Fitzgerald has initiated coverage on Soleno Therapeutics Inc with an Overweight rating and a price target of $19. Soleno's lead program, DCCR, is in Phase 3 development for Prader-Willi Syndrome (PWS), and the analyst expects positive findings in 3Q23. Despite disappointing Phase 3 trial data three years ago, the analyst sees the upside potential as much higher than any downside risk due to the unmet need in the PWS market.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 7:38 pm

AFRM

Mizuho analyst Dan Dolev reiterated a Buy rating on Affirm Holdings Inc (NASDAQ:AFRM), raising the price target to $20 from $17. The analyst is bullish on AFRM's recently launched Debit+ card, which he believes holds potential for ~250% volume CAGR through FY26. The analyst raised FY24 and FY25 total revenue estimates based on the anticipated success of Debit+.

Portfolio Pulse from Nabaparna Bhattacharya

July 11, 2023 | 7:35 pm

FB

TWTR

Twitter has been reportedly blocking links to its rival, Instagram Threads, which has recently gained 100 million users. Twitter's CEO, Linda Yaccarino, has denied reports of a decline in Twitter traffic following the launch of Threads. However, data from web analytics firm Similarweb suggests that Twitter's web traffic has declined by 5% in the first two days of Threads' availability, and by 11% compared to the same period in 2022. Twitter's actions follow a similar move when it blocked links to Substack Notes after its launch. The rivalry between Twitter owner Elon Musk and Meta CEO Mark Zuckerberg has intensified recently.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 7:27 pm

AMZN

BA

LMT

Blue Origin, Jeff Bezos' space company, experienced an explosion during the testing of its BE-4 rocket engine. The incident could potentially impact the company's customers and its own rocket. The engine was expected to finish testing in July and then be shipped to Blue Origin's customer United Launch Alliance (ULA), a joint venture of Boeing and Lockheed Martin. The failure could further delay the already postponed first Vulcan launch. Blue Origin also needs the engines for its own reusable New Glenn rocket that's in development. Amazon, another Bezos-founded company, has ordered 38 Vulcan launches and up to 27 New Glenn launches for its Project Kuiper internet satellites.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 7:23 pm

UPWK

Upwork Inc. (NASDAQ:UPWK) shares are trading higher after the company announced the launch of a new generative AI tools and services hub. The hub facilitates connections between companies and AI professionals worldwide. A partnership with Jasper will bring modern generative AI tools to Upwork. The company's adoption of generative AI has led to a 450% growth in weekly job posts related to generative AI compared to last year.

Portfolio Pulse from Ryan Gustafson

July 11, 2023 | 7:22 pm

VRNOF

Maryland's legal cannabis sales reached $20.9 million in the first week, with half of the sales made during the opening weekend. The Maryland Cannabis Administration expects the industry to generate $600 million in retail sales in the first year of adult-use cannabis legalization. Verano Holdings (OTCQX: VRNOF), which operates four Zen Leaf retail locations in Maryland, is encouraged by the strong start to adult-use cannabis sales in the state.

Portfolio Pulse from Maureen Meehan

July 11, 2023 | 7:11 pm

TNDM

Tandem Diabetes Care Inc (NASDAQ:TNDM) shares are trading higher after the company received FDA approval for the Tandem Mobi insulin pump for people with diabetes age 6 and up. The Tandem Mobi is fully controllable from a mobile app and is the world's smallest durable automated insulin delivery system. A limited release of Tandem Mobi is expected to start in late 2023, with full commercial availability planned in early 2024.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 6:44 pm

MSFT

Axelar, a cross-chain protocol, is developing a blockchain-driven tool for Microsoft's Azure cloud platform. The tool will provide businesses and users with easy access to decentralized applications (dapps). Once operational, Azure will offer access to an Axelar-powered blockchain tool, facilitating connections between dapps and networks, services, and developer tools using the AxelarJS software library. This will enable developers to automate multichain deployments for Web3 products.

Portfolio Pulse from Murtuza Merchant

July 11, 2023 | 6:34 pm

MVST

Microvast Holdings Inc (NASDAQ:MVST) announced an expansion of its energy division with a new manufacturing facility in Windsor, Colorado. The facility, expected to be operational in 2023, will play a significant role in delivering energy storage systems to the fast-growing utility-scale energy storage market. The strategic location will optimize the company's supply chain and reduce lead times. Microvast's stock has rallied over the past few months, driven by better-than-expected quarterly results and raised full-year 2023 guidance.

Portfolio Pulse from Adam Eckert

July 11, 2023 | 6:12 pm

MKFG

The Naval Air Warfare Center- Aircraft Division at Patuxent River, MD has announced its intention to solicit and negotiate the purchase of Markforged 3D printing equipment for the Mechanical Instrumentation Branch.

Portfolio Pulse from Charles Gross

July 11, 2023 | 5:53 pm