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GM

General Motors (GM) reported a 9% increase in vehicle deliveries in China for Q2, with over 526,000 vehicles delivered. The company also saw double-digit growth for the Chevrolet and Cadillac brands, with over 115,000 new energy vehicle (NEV) sales. GM is on track to launch more than 20 new and refreshed models in China this year, a third of which will be NEVs. The company is also increasing its EV manufacturing capacity in China, aiming for over 1 million units annually by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 5:09 pm

PBLA

Panbela Therapeutics Inc's (NASDAQ:PBLA) Phase 3 ASPIRE trial for patients with untreated metastatic pancreatic ductal adenocarcinoma has been recommended to continue without modification by the independent Data Safety Monitoring Board (DSMB). The company is also planning a Phase 1 clinical trial for the second quarter of 2023 to evaluate Ivospemin in treating platinum-resistant ovarian cancer. HC Wainwright maintains a Buy rating and a price target of $16 for PBLA.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 4:55 pm

INFI

MEIP

MRK

Infinity Pharmaceuticals has announced further design features of its Phase 2 MARIO-8 study in Squamous Cell Cancer of the Head and Neck (SCCHN). The study is designed to optimize the dose of the oral drug candidate, eganelisib, in combination with Merck & Co Inc's Keytruda. The company has received FDA feedback and, pending final FDA review and subject to the successful close of the company's proposed merger with MEI Pharma Inc, preliminary safety and efficacy data are expected in the second half of 2024. A second leading independent proxy advisory firm, Glass, Lewis & Co, has recommended that stockholders of Infinity and MEI vote for the merger. INFI shares are up 19.80% at $0.24 on the last check Monday.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 4:45 pm

PWM

Prestige Wealth, Inc. (NASDAQ:PWM) shares experienced volatility on Monday, with the stock being halted multiple times in early trading. The stock bounced around on heavy volume and was halted on a circuit breaker to the upside after falling more than 25% in early trading. Prestige Wealth recently launched its IPO of 1,000,000 ordinary shares at a price of $5.00 per share. The company plans to use the proceeds from the IPO for brand promotion, product and service expansion, client relationship management, hiring, and general working capital.

Portfolio Pulse from Erica Kollmann

July 10, 2023 | 4:31 pm

BTCUSD

ETHUSD

Vitalik Buterin, co-founder of Ethereum, suggested that Bitcoin needs to adopt scalable solutions like Ethereum to expand beyond just a payment system. He mentioned Optimism and Arbitrum as two prominent rollup examples that Bitcoin could learn from. Ethereum has transitioned from a proof-of-work to a proof-of-stake network, while experimenting with various Layer 2 solutions such as ZK-rollups and Plasma. Bitcoin's scalability has been improved by the Lightning Network and the advent of Bitcoin Ordinals.

Portfolio Pulse from Murtuza Merchant

July 10, 2023 | 4:29 pm

SNAP

Snap has announced a partnership with Linktree, a link-in-bio tool, to allow users to include links in their Snapchat profiles. The integration will also allow users to showcase their Snapchat profiles on their Linktree page. Linktree is offering three months of Linktree Pro with this integration. Earlier this year, Snapchat expanded its ad revenue sharing program with eligible creators.

Portfolio Pulse from Happy Mohamed

July 10, 2023 | 4:06 pm

MPWR

Shares of Monolithic Power Systems Inc (MPWR) are trading higher by 4.26% after Raymond James maintained an Outperform rating on the stock and raised its price target from $500 to $570. The stock has risen by 56.23% on a year-to-date basis due to marked interest in semiconductor companies amid AI popularity. The market has shown a strong interest in AI-related technologies, and investors view MPWR as well-positioned to capitalize on this trend.

Portfolio Pulse from Henry Khederian

July 10, 2023 | 3:54 pm

EADSY

Airbus SE has inaugurated a new A320 Family final assembly line (FAL) in Toulouse, France. The FAL will contribute to the production rate ramp-up to 75 A320 Family aircraft per month in 2026. The first aircraft fully assembled in this facility, an A321, is expected to roll out by the end of the year. The site will employ around 700 workers by 2025.

Portfolio Pulse from Nabaparna Bhattacharya

July 10, 2023 | 3:47 pm

AAPL

GOOG

META

SNAP

Snap Inc has introduced a revenue-sharing program, Snap Star, to attract creators back to its platform. The move aims to reverse declining sales and regain user engagement, impacted by factors like Apple's privacy policy changes. The program has attracted several thousand creators and has shown early signs of traction. Snap's financial performance following the rollout of the program will be a deciding factor in its recovery.

Portfolio Pulse from Anusuya Lahiri

July 10, 2023 | 3:42 pm

AMZN

BAC

GPS

PTON

SONY

Amazon.com Inc is set for its annual Prime Day event, promising more deals than any past Prime Day. The event is expected to generate around $12 billion in Gross Merchandise Volume (GMV), accounting for 7.4% of GMV for the quarter. Noteworthy deals include discounts on Gap Inc clothing, Sony Group Corp headphones, and Peloton Interactive Inc Bike and Bike+. The event is expected to have a strong performance, possibly exceeding Bank of America Corp's 12% growth estimate compared to last year's Prime Day.

Portfolio Pulse from AJ Fabino

July 10, 2023 | 3:35 pm