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SNY

Sanofi expressed disagreement with the FTC's decision to seek a preliminary injunction against its proposed licensing agreement with Maze Therapeutics for MZE001, a potential treatment for Pompe Disease. The FTC's action delays the development of the drug, which has completed Phase 1 trials. Sanofi has decided to terminate the agreement with Maze to avoid a protracted legal battle, despite the potential benefits for patients with Pompe Disease.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:15 pm

STRO

Sutro Biopharma presented data at ASH 2023 showing that Luvelta achieved complete remission in 42% of adult patients and 75% of pediatric patients with CBF/GLIS AML. The treatment was well-tolerated, suggesting potential for further development in this patient subgroup.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:09 pm

ORCL

Oracle Corp has reported a significant increase in demand for its cloud infrastructure and generative AI services, describing the growth rate as 'astronomical'.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:07 pm

ORCL

Oracle reported a strong second quarter with significant growth in its cloud business. Cloud revenue increased by 25%, driven by a 52% rise in Cloud Infrastructure Revenue and a 15% increase in Cloud Application Revenue. Additionally, Fusion Cloud ERP and NetSuite Cloud ERP revenues both grew by 21%.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:07 pm

DIS

GOOG

GOOGL

NFLX

WBD

The top Google searches for 2023 included events like the war in Israel, natural disasters, and shootings, as well as individuals such as Damar Hamlin and Travis Kelce. Alphabet Inc's Google was the primary search engine used. Netflix's series 'Wednesday' starring Jenna Ortega, and David Beckham's documentary boosted Netflix's visibility. Pedro Pascal's roles in Disney+ and HBO series made him a highly searched individual. Alphabet Inc (GOOG, GOOGL), Netflix Inc (NFLX), Walt Disney Co (DIS), and Warner Bros. Discovery (WBD) are companies mentioned in relation to these searches.

Portfolio Pulse from Chris Katje

December 11, 2023 | 8:43 pm

AAPL

AMZN

GOOG

GOOGL

Wedbush analyst Dan Ives raised Apple Inc's (AAPL) price target from $240 to $250 and named it the 'Top Tech Pick' for 2024, anticipating it to become the first $4-trillion company. However, Virtus Investment Partners' Joe Terranova believes Alphabet Inc (GOOG, GOOGL) and Amazon.com Inc (AMZN) could outperform Apple in 2024 due to their potential in generative AI, which the market has somewhat overlooked. Cerity Partners' Jim Lebenthal agreed, highlighting Google's Gemini AI and Alphabet's value at 20 times forward earnings. Both analysts expect a rotation of investment into underappreciated mega-cap tech names in the next year.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 8:35 pm

EBAY

TSLA

Tesla Inc's (NASDAQ:TSLA) Cybertruck reservations are being auctioned on eBay Inc (NASDAQ:EBAY) for high prices, indicating strong demand. Some spots are selling for over $20,000. Tesla's production ramp-up aims for 250,000 units annually by 2025, but early models, like the Foundation Series, may exceed $100,000. Over one million reservations have been made, with third-party estimates nearing two million. Tesla has re-added a clause that could allow them to sue owners who sell the vehicle within the first year, making the sale of reservation spots potentially risky.

Portfolio Pulse from Chris Katje

December 11, 2023 | 8:25 pm

TTWO

The release of the 'Grand Theft Auto VI' trailer has sparked fan speculation about the identity of a bikini-clad character, with many believing she is Lucia, the game's protagonist. Take-Two Interactive Software Inc's (NASDAQ:TTWO) Rockstar Games has not confirmed any details, leading to debates on social media. The game is highly anticipated, with no release date or gameplay specifics yet revealed.

Portfolio Pulse from Franca Quarneti

December 11, 2023 | 7:55 pm

FIVE

TGT

WMT

Telsey Advisory Group (TAG) provided an industry update on Walmart (WMT), Five Below (FIVE), and Target (TGT), rating all three stocks as Outperform with price targets of $185, $220, and $160 respectively. The stores were praised for their festive atmospheres and well-stocked shelves ahead of the holiday season. Walmart's remodeled store in Teterboro, N.J., was highlighted for its holiday cheer and strategic initiatives. Five Below's stores in Clifton and Paramus, N.J., were noted for their value products and new store format, Five Beyond. Target's stores were also holiday-ready with attractive displays and a focus on value offerings, despite concerns about tight consumer spending on discretionary products.

Portfolio Pulse from Surbhi Jain

December 11, 2023 | 7:48 pm

AAPL

META

MSFT

Meta Platforms, Inc's (NASDAQ:META) Instagram Threads is set to launch in the European Union on December 14, after its initial release in the U.S. and U.K. in July. A countdown timer on the Threads website indicates the launch, and users in Europe can find a digital invitation within the Instagram app. The launch details, including which EU countries will have access, are not yet confirmed. The delay in the EU launch is due to regulatory uncertainties, likely related to the EU's Digital Markets Act, which affects companies like Meta, Microsoft Corp (NASDAQ:MSFT), and Apple Inc (NASDAQ:AAPL). META shares dropped by 2.09% to $325.81.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 7:38 pm