Streetbeat News

Products Services

TSLA

Tesla Inc's Model Y has become the most sold car in Iceland this year, with 1,316 units registered in the first six months of 2023. This breaks a 35-year-old record for the highest number of a single car model sold in a year. The previous record was held by Toyota Corolla in 1988 with over 1,200 units registered.

Portfolio Pulse from Benzinga EV Insights

July 05, 2023 | 5:08 pm

MRNA

Moderna Inc (NASDAQ:MRNA) has reportedly signed a deal with Chinese authorities to research, develop, and manufacture mRNA medicines in China. This agreement represents Moderna's first for developing mRNA medicines, not just COVID vaccines. The company has signed a memorandum of understanding and a related land collaboration agreement to develop drugs intended exclusively for the Chinese market. The size of the deal remains undisclosed, but it follows news that Moderna is planning its first investment in China, potentially valued at around $1 billion.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 5:06 pm

USDCUSD

USDTUSD

Hong Kong government is considering launching its own stablecoin, the HKDG, backed by its foreign exchange reserves. This move is seen as a way to compete with existing stablecoins like Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC). The proposal suggests that a government-backed HKDG stablecoin would offer greater credibility and lower risk than USDT and USDC. The experts believe it could also provide additional liquidity for government investment projects, facilitate the digitization of traditional assets, promote financial innovation and competitiveness, and increase transparency.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 4:55 pm

ALLR

BMY

Allarity Therapeutics Inc (NASDAQ:ALLR) announced initial results from its European Phase 2 clinical trial evaluating the efficacy of Ixempra in metastatic breast cancer patients. The study showed promising signs of clinical benefit in four out of four evaluable cases. Ixempra was initially developed by Bristol Myers Squibb & Co (NYSE:BMY) and is approved for metastatic breast cancer patients in the U.S. The initial data suggest that the DRP-Ixempra CDx may identify a subset of patients who potentially have an improved ORR and CBR compared to monotherapy efficacy.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 4:53 pm

FDMT

Chardan Research analyst Geulah Livshits initiated coverage on 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) with a Buy rating and a price target of $30. The analyst is optimistic about the company's directed evolution of the Adeno-associated virus platform, or AAV, to tackle historical obstacles in vivo gene delivery. The company's pipeline, which includes three clinical-stage ophthalmology assets, is also praised. The analyst believes that discussions with the FDA on pivotal endpoints in 4Q should provide visibility on the path to market.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2023 | 4:45 pm

SAVA

Cassava Sciences Inc (NASDAQ:SAVA) announced positive results from its Cognition Maintenance Study (CMS) for its Alzheimer's treatment, Simufilam. The drug slowed cognitive decline by 38% compared to placebo in mild-to-moderate Alzheimer's disease. The company is currently evaluating Simufilam tablets in two Phase 3 studies, with patient enrollment expected to be completed by the end of 2023. Despite the positive news, SAVA shares are down 12.90% at $22.05.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 4:39 pm

ABT

The FDA has approved Abbott Laboratories' AVEIR dual chamber leadless pacemaker system, the world's first of its kind to treat abnormal or slow heart rhythms. The system uses Abbott's proprietary i2i communication technology to provide synchronized cardiac pacing. The approval follows recent clinical data showing that the AVEIR DR system met its safety and efficacy endpoints. ABT shares are down 0.06% at $107.15.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 4:35 pm

META

Meta Platforms shares are trading higher due to the anticipation of the launch of the company's Threads platform, which is expected to compete with Twitter.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 4:30 pm

TM

Toyota Motor Corporation's (NYSE:TM) North American division reported a 14.9% increase in U.S. sales for June 2023, selling 195,448 vehicles. Sales of electrified vehicles rose 28.8% YoY, accounting for 26.4% of total sales. However, for the first half of 2023, U.S. sales decreased by 0.7% YoY. TM shares are trading higher by 0.90% at $161.91.

Portfolio Pulse from Shivani Kumaresan

July 05, 2023 | 4:27 pm

META

Meta Platforms Inc (NASDAQ:META) shares are trading higher following the announcement of the launch of a new social media app, Threads, which will compete with Twitter. The app will connect to users' Instagram accounts and function similarly to Twitter. The app is set to become available for download on Thursday.

Portfolio Pulse from Adam Eckert

July 05, 2023 | 4:19 pm