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THRX

Theseus Pharmaceuticals Inc (NASDAQ:THRX) shares plummeted after the company announced discontinuation of enrollment in a phase 1/2 study and termination of the development of THE-630 for gastrointestinal stromal tumors due to dose-limiting toxicities. Analysts from Cantor Fitzgerald, Needham, Wedbush, and HC Wainwright have cut their price targets but remain optimistic about the company's platform. The company is considering developing low-dose THE-630 for KIT-associated mast cell-driven inflammatory indications.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 6:59 pm

PFE

A study conducted by researchers at the University of Rochester and Harvard University revealed that Pfizer's COVID-19 pill, Paxlovid, was underutilized in nursing homes, despite its proven efficacy. The study found that only about 25% of nursing home residents with COVID-19 were prescribed any antiviral medication from May 2021 to December 2022. The underuse of Paxlovid likely led to a significant amount of avoidable mortality, according to Harvard professor Michael Barnett.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 6:40 pm

AMZN

SHOP

Wedbush analyst Scott Devitt discussed the potential partnership between Amazon and Shopify, focusing on the strategic importance of the grocery category for Amazon. Shopify recently divested its logistics business to Flexport, shifting away from in-house logistics solutions. The terms of a potential deal between Amazon and Shopify remain uncertain. Shopify's POS product and the expansion of Shop Pay to non-Shopify merchants bring it into competition with payments/fintech companies like PayPal. The growth of social commerce, particularly through TikTok, presents an exciting opportunity.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 6:33 pm

CJET

Chijet Motor Company's majority-owned subsidiary has completed its first shipment of automobile orders to Peru through its newly developed export operation at Tianjin Port, China. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 6:32 pm

CRC

XOM

Mizuho analyst Nitin Kumar reiterated a Buy rating on California Resources Corporation (CRC), raising the price target to $60 from $52. The focus of CRC's 2Q call is expected to be on its first Carbon capture and storage project, following Exxon Mobil's acquisition of Denbury. Investors are also expected to focus on the progress of the Carbon TerraVault (CTV) projects under CRC's Carbon Management Business (CMB). Despite a slowdown in permitting new oil wells in California, CRC is focusing on permits already in hand for 2023/1H24. The company also expects to benefit from gas realizations at the SoCal Border hub.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 6:31 pm

ATVI

MSFT

NTDOY

Microsoft Corp. (NASDAQ:MSFT) has released a filing stating that Activision Blizzard Inc's (NASDAQ:ATVI) decision to remove Call of Duty from Steam was a failure. The move was an attempt to grow Activision's Battle.net platform, but it did not result in an increase in active users. Microsoft used this information in its legal dispute with the Federal Trade Commission (FTC), which is trying to block Microsoft's $69 billion acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

July 14, 2023 | 6:22 pm

QCOM

Ziad Asghar, the senior vice president of product management and head of AI for Qualcomm Technologies (NASDAQ:QCOM), shared insights on the state of artificial intelligence (AI) during a webinar. He emphasized the potential of generative AI and large learning models, and discussed Qualcomm's work to democratize AI by decoupling models from the cloud. Asghar highlighted the benefits of on-device generative AI workloads, including privacy and cost-effectiveness. He also discussed potential use cases for generative AI, including enhancing worker productivity and improving experiences in the automotive sector.

Portfolio Pulse from Michael Cohen

July 14, 2023 | 5:45 pm

LGEIY

LGEJY

LG Electronics plans to invest $39.5 billion in research and development, facilities, and strategic investments to achieve $79 billion in sales by 2030. The company is shifting from a home appliance and electronics goods maker to a platform-based technology company. The new strategy includes bolstering service platforms for home appliances and strengthening business-to-business units. LG also plans to grow in areas like electric vehicle charging and digital healthcare. The company will offer webOS, its operating system for smart TVs, as a service platform provider.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 4:58 pm

BMWYY

MBGYY

STLA

TSLA

Tesla Inc (NASDAQ:TSLA) has been named the most-searched car brand in the US for 2022, according to a study by AutoTrader. The study, which looked at Google search history for 180 countries and 203 different automotive manufacturers, found that Tesla was the most googled brand based on searches for cars for sale in 39 countries, including the US and Canada. Other top brands included Jeep, a Stellantis (NYSE:STLA) brand, BMW (OTC:BMWYY), Toyota (NYSE:TM), and Mercedes Benz (OTC:MBGYY).

Portfolio Pulse from Chris Katje

July 14, 2023 | 4:52 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares have gained over 15% in the past five days. The company was upgraded from Market Perform to Outperform by Northland Capital Markets analyst Abhishek Sinha, with a price target of $22. Plug Power announced a large order for 100 MW of PEM electrolyzers for a green hydrogen project in Europe and was selected to supply two 5-MW PEM electrolyzer systems for green hydrogen projects in Australia. 20.29% of available shares are currently being sold short.

Portfolio Pulse from Erica Kollmann

July 14, 2023 | 4:37 pm