Streetbeat News

Products Services

LEXX

Lexaria Bioscience's stock is trading higher following the announcement of positive results from a human pilot study evaluating their DehydraTECH technology for oral delivery of semaglutide.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 8:23 pm

SEEL

The Department of Defense is funding a Phase 2 study to test Seelos Therapeutics' SLS-002, an intranasal racemic ketamine, on 600 service members and veterans for PTSD treatment. The study will assess safety, tolerability, and efficacy over a 12-week treatment period with a 30-day screening and four-week follow-up. Seelos has two IND applications with the FDA for SLS-002 for acute suicidal ideation and behavior in MDD and PTSD. The study, expected to start soon in Georgia, will be completed by 2026. PTSD incidence has risen among veterans, and ketamine shows promise as a rapid and effective treatment for depression, suicidality, and PTSD.

Portfolio Pulse from Lara Goldstein

November 27, 2023 | 7:48 pm

RIVN

Rivian has introduced a leasing option for its R1T electric pickup truck in select U.S. states starting from November 27, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 7:33 pm

ASST

AVXL

BDRX

PGY

RDHL

RILY

U.S. stocks traded mixed with the Dow down 0.13%, NASDAQ up 0.11%, and S&P 500 down 0.08%. Real estate shares rose by 0.5%, while energy shares fell by 1.1%. U.S. new home sales declined by 5.6%. RedHill Biopharma's shares spiked 214% due to FDA market exclusivity for Talicia. Biodexa Pharmaceuticals surged 131% after acquiring a license for tolimidone. Asset Entities gained 80% after announcing a stock repurchase program. Pagaya Technologies fell 5.5% as CFO stepped down. B. Riley Financial dropped 9% despite Friday's gains. Anavex Life Sciences fell 8% after Q4 results. Oil was down 0.5%, gold up 0.5%, and silver up 1.4%. European and Asian markets closed lower.

Portfolio Pulse from Lisa Levin

November 27, 2023 | 7:30 pm

XENE

Xenon Pharmaceuticals Inc (NASDAQ:XENE) reported Phase 2 X-NOVA trial results for XEN1101 in patients with MDD, showing positive efficacy signals despite missing the primary endpoint. William Blair remains optimistic about XEN1101's potential in MDD and other CNS disorders, maintaining an Outperform rating with a peak sales potential over $1 billion. XENE shares rose 14.27% to $33.10.

Portfolio Pulse from Vandana Singh

November 27, 2023 | 7:10 pm

AMZN

ASO

BBWI

BBY

DKS

HIBB

LULU

NKE

TGT

YETI

Analysts provided insights on Black Friday trends, highlighting healthy traffic and discounts. BofA's Justin Post reiterated a Buy rating on Amazon (AMZN) with a $168 target. Academy Sports (ASO) and Dick's Sporting Goods (DKS) saw robust traffic, while YETI (YETI) faced increased competition. Goldman Sachs noted mixed traffic, with Best Buy (BBY), Bath & Body Works (BBWI), and Lululemon (LULU) performing well. Target (TGT) had some out-of-stock items. Morgan Stanley's Alex Straton observed flat to down year-over-year traffic, while Oppenheimer's Brian Nagel was upbeat on athleisure stocks like Nike (NKE). Telsey Advisory Group's Dana Telsey reported a successful Black Friday weekend with well-managed inventories and significant sales.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 6:55 pm

AMD

INTC

NVDA

TSM

Nvidia Corporation (NVDA) reported strong Q3 results with significant revenue and profit growth, driven by its Data Center division. Despite this, NVDA shares dropped due to the delay of its new AI chip launch in China to Q1 2024, complying with U.S. export curbs. Competitors TSMC (TSM) and Intel (INTC) also reported their Q3 results, with TSMC seeing a revenue drop but a QoQ increase, and Intel showing signs of recovery despite a minor loss. Advanced Micro Devices, Inc. (AMD) was mentioned as a competitor but did not have detailed financial results in the article.

Portfolio Pulse from Upwallstreet

November 27, 2023 | 6:45 pm

JNJ

Janssen, part of Johnson & Johnson, has submitted an application to the EMA for approval of RYBREVANT (amivantamab) in combination with chemotherapy for treating advanced EGFR-mutated NSCLC after prior therapy failure. The submission is based on Phase 3 MARIPOSA-2 study results, which showed significant improvements in progression-free survival compared to chemotherapy alone. Amivantamab was previously granted conditional marketing authorization by the European Commission in December 2021 for monotherapy treatment of NSCLC with EGFR exon 20 insertion mutations after platinum-based chemotherapy failure.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 6:36 pm

ETSY

Etsy Inc (NASDAQ:ETSY) stock rose by 3.91% to $74.63 amid positive e-commerce sales data from Mastercard SpendingPulse, which reported an 8.5% increase in online sales on Black Friday. The rise in e-commerce sales, including a 1.1% growth in in-store purchases, suggests a healthy balance between digital and physical retail. Etsy, known for its unique and handmade items, may benefit from the trend towards online shopping, as consumers look for personalized products.

Portfolio Pulse from Henry Khederian

November 27, 2023 | 6:33 pm

DIS

SPY

Disney's 'Frozen' franchise has been a significant success since its first release in 2013, with both films ranking among the top-grossing animated films of all time. A third and potential fourth movie are in development, with a likely release date for 'Frozen 3' in November 2025. Despite Disney's recent box office misses, the 'Frozen' franchise remains a valuable asset. An investment of $1,000 in Disney stock at the time of the first 'Frozen' release would be worth $1,338.71 today, a 33.9% increase, while the same investment in the SPDR S&P 500 ETF Trust would have yielded a 151.5% return.

Portfolio Pulse from Chris Katje

November 27, 2023 | 6:22 pm