Streetbeat News

Products Services

IGC

IGC Pharma has been granted Canadian Patent Number 2961410 for a cannabinoid composition and method for treating pain. This could potentially open new revenue streams for the company.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 5:25 pm

LNZA

PARIS:TE

Technip Energies (PARIS:TE) and LanzaTech Global, Inc. (NASDAQ:LNZA) have signed a Joint Collaboration Agreement to develop a sustainable ethylene production process. The process uses carbon emissions as the starting point, capturing up to 95% of the CO2 in the flue gas from ethylene crackers and transforming it into ethylene. This could help decarbonize one of the most challenging processes in the chemical industry.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 5:12 pm

JNJ

Johnson & Johnson's unit, Megadyne, is recalling its MEGA 2000 and MEGA SOFT reusable patient return electrodes due to reports of patients receiving burn injuries. The FDA has classified this recall as the most serious, indicating that the use of these tools could lead to injuries or death. Megadyne has reported 63 injuries and no deaths related to this issue. The recall affects 21,200 units of the electrosurgery tools distributed between March 11, 2021, and May 9, 2023.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 5:08 pm

TSLA

Tesla has agreed to pay $6 million to settle a class action lawsuit related to sudden price increases for its Solar Roof product in 2021. The price hikes led to over 6,300 customers cancelling their contracts. The lawsuit settlement could impact around 8,636 customers who were affected by the price increases.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 5:08 pm

AMZN

FTCH

Amazon's shares are trading higher as it begins its Prime Day event, offering a range of discounts including its first-ever travel discounts. Analyst Nicholas Jones from JMP Securities reiterated Amazon.com with a Market Outperform and a $140 price target. Investors are likely to focus on the profitability of Amazon's retail business amid sluggish retail sales growth and recession fears. E-commerce appears more favorable compared to broader retail, reverting to pre-pandemic growth trends. Amazon's resilience is attributed to its exposure to consumer staples and strong app engagement.

Portfolio Pulse from Anusuya Lahiri

July 11, 2023 | 5:03 pm

UPWK

Upwork has announced the launch of a new generative AI tools and services hub, leading to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 4:57 pm

AMD

NVDA

Nvidia Corp (NVDA) trades higher due to its dominance in the AI market and a raised price target from $500 to $550 by KeyBanc analyst John Vinh. Advanced Micro Devices, Inc (AMD) trades lower following reports of delays in its MI300 AI server and stability issues with its PC NB Ryzen Phoenix (7040). Despite these issues, Vinh maintains an Overweight rating for AMD and raises the price target from $150 to $160, citing AI server wins at Hewlett Packard Enterprise Co (HPE), Microsoft Corp (MSFT), and Meta Platforms, Inc (META).

Portfolio Pulse from Anusuya Lahiri

July 11, 2023 | 4:56 pm

DERM

RDY

Journey Medical Corporation's shares are trading lower after the company announced topline results from two Phase 3 trials of DFD-29 for adult patients with moderate-to-severe papulopustular rosacea. The trials achieved the co-primary and all secondary endpoints with no significant safety issues. DFD-29 is being developed in collaboration with Dr. Reddy's Laboratories Ltd.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 4:53 pm

DTRUY

TM

Toyota Motor Corp (NYSE:TM) is reportedly planning to shift its focus to selling hydrogen-powered trucks and cars in Europe and China, as part of its ambition to sell 200,000 hydrogen fuel-cell vehicles by 2030. This marks a shift in the automaker's growth focus from passenger cars sales and the North American market. Toyota and Daimler Truck Holding (OTC:DTRUY) have collaborated on developing hydrogen and other CASE technologies. Toyota expects the global fuel cells market growth to be about $35 billion by 2030.

Portfolio Pulse from Shivani Kumaresan

July 11, 2023 | 4:51 pm

TNDM

Tandem Diabetes Care has received FDA clearance for its Tandem Mobi insulin pump, leading to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 4:51 pm