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MOR

MorphoSys AG's stock (NASDAQ:MOR) is trading lower after releasing Phase 3 MANIFEST-2 study results for pelabresib in combination with ruxolitinib for myelofibrosis treatment. The study met its primary endpoint, showing a significant reduction in spleen volume. However, secondary endpoints related to symptom improvement showed a positive trend but did not reach statistical significance. MorphoSys plans to submit regulatory applications for pelabresib in mid-2024. MOR shares dropped 20.14% in premarket trading.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 2:28 pm

WRAP

Wrap Technologies, Inc. (NASDAQ:WRAP) is experiencing increased deployments of its BolaWrap 150 Remote Restraint device, which is being recognized for its non-lethal approach to law enforcement situations, including mental health crises. The device's adoption is part of a shift towards de-escalation and empathy in policing, with positive feedback from law enforcement agencies like the Hawthorne Police Department.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:24 pm

HUT

US Bitcoin Corp (USBTC) stockholders have approved a business combination with Hut 8 Mining Corp. (NASDAQ:HUT). The merger, expected to close by November 30, 2023, will create a new entity, Hut 8 Corp. ('New Hut'), to be listed on Nasdaq and the Toronto Stock Exchange under the ticker 'HUT'. The combined company will focus on economical mining, diversified revenue streams, and ESG practices, expanding into high performance computing, hosting, and managed infrastructure operations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:23 pm

NVO

The European Medicines Agency (EMA) has announced that Novo Nordisk has informed them of expected intermittent shortages of Ozempic throughout 2024. Ozempic, which contains the active substance semaglutide, is anticipated to be in short supply due to increased global demand.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:21 pm

NVO

The European Medicines Agency (EMA) has announced that Novo Nordisk will temporarily reduce the supply of Victoza to facilitate an increased supply of Ozempic. Novo Nordisk has informed that the shortage of both Ozempic and Victoza is expected to worsen in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:20 pm

SEED

Origin Agritech Ltd. (NASDAQ:SEED) provided a business update for FY23, expecting revenue of $12M-$13M, a 60%-70% increase from FY22. Net income is projected at $16M-$17M, including a one-time $19M gain from a building sale. Operating profit is anticipated to be around $2M. The company highlighted advancements in agricultural biotechnology, including a triple-stack trait corn and a novel gene editing method. They also discussed the potential approval of GMO corn hybrids in 2024, advancements in nitrogen-efficient corn, and expansion plans for nutrition-enhanced corn (NEC). The company is in discussions with Muyuan Foods for potential collaborations and expects to expand NEC corn planting. Origin Agritech's CEO expressed confidence in the company's future and dissatisfaction with the current stock price, indicating it undervalues the company's potential.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:19 pm

SST

System1 has introduced a new Proof of Delivery feature for its RoadWarrior app, enhancing package delivery verification. Additionally, RoadWarrior has launched a new marketplace for subscription add-ons, aiming to expand its service offerings and provide more customization options for users.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:19 pm

MSFT

TSM

Industry sources report that TSMC is providing not only the 5nm fabrication process but also backend CoWoS packaging for Microsoft's newly released Azure Maia 100 AI Accelerator.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:17 pm

HIBB

Hibbett, Inc. (NASDAQ:HIBB) shares surged after reporting Q3 sales of $431.92 million, surpassing analyst expectations of $416.02 million. Despite a slight 0.3% Y/Y net sales decrease, the company's Q3 EPS of $2.05 exceeded estimates of $1.17. E-commerce sales grew by 12.6% Y/Y, while brick-and-mortar sales fell by 5.4%. Gross margin slightly declined due to higher promotional activity. Hibbett opened ten new stores, updated its FY24 EPS outlook to $8.00-$8.30 from $7.00-$7.75, and expects total sales to be flat to up ~2.0% for FY24. The stock price rose by 16.56% to $62.50 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 2:16 pm

XPOF

Xponential Fitness, Inc. (XPOF) has reached a significant milestone by opening its 3,000th studio, CycleBar Loveland, in Colorado. CEO Anthony Geisler thanked franchisees and employees for their contributions to this achievement. Xponential Fitness has a presence in 23 countries and plans for continued growth. The owners of CycleBar Loveland, Sydnie and Zack Whitmer, expressed gratitude for Xponential's support and commitment to providing exceptional fitness experiences.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:10 pm