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RXT

Rackspace Technology (RXT) has appointed its CTO, Srini Koushik, as the global head of its new spin-up, Foundry for Generative AI by Rackspace (FAIR). The move comes as 90% of IT decision-makers surveyed by Rackspace expressed a desire to leverage AI technologies in their cloud modernization efforts. Rackspace aims to accelerate the secure, responsible, and sustainable adoption of generative AI solutions across industries.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:07 pm

NERV

Minerva Neurosciences, Inc (NASDAQ:NERV) has received a $20 million investment from Boehringer Ingelheim and Federated Hermes Kaufmann Funds via a private placement of its shares. The company plans to use the proceeds to support potential regulatory approval and market launch of roluperidone, a drug being developed to treat negative symptoms of schizophrenia. The private placement is expected to close on June 30, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2023 | 2:49 pm

CDNS

SSNLF

Cadence Design Systems (NASDAQ:CDNS) has delivered a complete, certified backside implementation flow to support Samsung Foundry's SF2 process node. This collaboration enables customers to leverage the Cadence digital full flow and corresponding process design kit (PDK) to speed next-generation mobile, automotive, AI and hyperscale chip design innovation. The flow has been validated with the completion of a successful 2nm test chip tapeout.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 2:47 pm

ATOS

Atossa Therapeutics and Quantum Leap have announced an enrollment update for the (Z)-endoxifen arm of the ongoing I-SPY 2 clinical trial, leading to a rise in Atossa's share prices.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:41 pm

GOOG

GOOGL

SSNLF

Google, a subsidiary of Alphabet Inc, has cancelled its next generation Google Glass venture, Project Iris. The company is now focusing on developing the 'Android of AR' platforms. The decision follows the departure of Clay Bavor, Google's then vice president of the Labs division. The remaining AR Labs division will now focus on developing software platforms for future Extended Reality (XR) devices for companies like Samsung Electronics instead of developing its own hardware.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 2:21 pm

AAPL

Apple (NASDAQ:AAPL) is nearing a market capitalization of $3 trillion, according to Wedbush analyst Daniel Ives. Despite previous challenges related to supply chain and macroeconomic factors, Apple has managed to navigate these issues and is on the brink of joining the $3 trillion market cap club. Ives believes that the Street has underestimated Apple's growth potential, particularly with the upcoming iPhone 14 and iPhone 15. Apple's Services business is nearing $100 billion annually, and the launch of the Vision Pro headset and its associated app store could further boost the company's growth. Ives projects Apple hitting a market capitalization of $3.5 trillion and a bull case of a $4-trillion valuation by fiscal year 2025.

Portfolio Pulse from Chris Katje

June 28, 2023 | 2:17 pm

CGTX

Cognition Therapeutics has released topline data from its Phase 2 SEQUEL Study of CT1812 in 16 adults with mild-to-moderate Alzheimer's disease, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 2:10 pm

BA

CHKIF

EADSF

EADSY

Around 90% of Boeing's China 737 MAX jets have resumed commercial operation as of the end of June. However, Boeing has not yet resumed deliveries to China, where it has lost ground to Airbus. Boeing recently announced a $100 million investment in infrastructure and programs to train pilots in India.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 2:05 pm

BYND

COST

Beyond Meat is expanding its product portfolio at Costco, featuring the Beyond Burger and introducing the new Hot Italian Beyond Sausage. The Beyond Burger will be available at all Costco regions nationwide until July 23. The Beyond Sausage will debut at select Costco locations throughout Southern California, Las Vegas, Arizona, Colorado, New Mexico, and Hawaii starting the week of June 26.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 2:03 pm

TOVX

Theriva Biologics Inc's shares are trading higher after the FDA granted orphan drug designation to VCN-01, the company's systemic, selective, stroma-degrading oncolytic adenovirus for the treatment of pancreatic cancer. The drug is being evaluated in combination with standard-of-care chemotherapy as a first line therapy for patients with pancreatic ductal adenocarcinoma. The FDA had previously granted orphan drug designation to VCN-01 for the treatment of retinoblastoma.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 1:43 pm