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VYNE

VYNE Therapeutics released new preclinical data showing positive effects of its VYN202 in preclinical models of psoriasis and rheumatoid arthritis. The company plans to submit its IND for VYN202 by the end of 2023 and start Phase 1a trials in Q1 2024. If successful, Phase 1b trials will commence in H2 2024. VYNE also announced private placement financing of $88 million. HC Wainwright maintains a Buy rating for VYNE but reduced the price target to $5.75 from $28 due to dilution from the equity and warrant raise.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 5:29 pm

ENS

Battery charging solutions provider CTEK has partnered with EnerSys (NYSE:ENS) to launch a new line of high-quality chargers. The chargers will become a part of the ODYSSEY battery charger portfolio and are designed to efficiently charge a variety of battery models. The new line will be available in the EU, UK, and North American markets and will be showcased at the 2023 SEMA show in Las Vegas.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 5:28 pm

GSK

GSK plc has released results from a phase 3 trial of Jemperli, a drug for endometrial cancer, showing a significant and clinically meaningful benefit in overall survival rates. The trial met its primary endpoint of overall survival, with benefits observed in both prespecified subpopulations. The drug is already approved for a subset of patients with endometrial cancer. GSK shares are up 2.01% at $35.26.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 5:23 pm

LVO

LiveOne (NASDAQ:LVO) pre-announced its Slacker subsidiary's results, expecting to deliver a record 6-months revenue of $31.5M and adjusted EBITDA of $9.1M. The company also raised its FY24 guidance for Slacker's revenue to $63M-$66M, with $17M-$19M of adjusted EBITDA. Slacker's pipeline expands to 25 Blue Chip Partnerships potentially adding new revenue streams across 5 different verticals. LiveOne will host a special investor Slacker webcast on November 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:17 pm

RKT

Rocket Mortgage, a part of Rocket Companies (NYSE:RKT), announced advancements to its Pathfinder tool, an AI and machine learning-powered search engine used by mortgage bankers, brokers, and underwriters. The tool is used by over 40,000 housing professionals to simplify mortgage processing complexities.

Portfolio Pulse from Charles Gross

October 30, 2023 | 5:12 pm

CSCO

DDOG

GOOG

GOOGL

MSFT

SPLK

Wells Fargo analyst Andrew Nowinski downgraded Datadog Inc (DDOG) from Overweight to Equal-Weight and lowered the price target from $120 to $95. The downgrade is based on cost optimization trends, FY24 consensus revenue estimates not aligning with management's historical guidance trends, Datadog's potential to gain share following Cisco Systems' acquisition of Splunk Inc, and Datadog's new AI-based solutions. Nowinski projects Q3 revenue of $523 million vs. consensus $524.16 million and EPS of $0.34.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 5:09 pm

ADM

Archer-Daniels-Midland Company (NYSE:ADM) has partnered with Solugen to scale a range of plant-based specialty chemicals and bio-based building block molecules in a new manufacturing facility in Marshall, Minnesota. The facility will use dextrose from ADM to scale its current line of lower-carbon organic acids and develop molecules to replace existing fossil fuel-based materials. The parties are also planning to explore commercialization opportunities of the biomaterials.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 4:53 pm

SAIA

Saia, Inc. (NASDAQ:SAIA) has opened its eighth terminal this year in Scarborough, Maine, marking its first in the state. The new location will allow Saia to offer more direct coverage as demand for its shipping services continues to grow in the Northeast. The company has also recently moved into new terminals in Salt Lake City, Utah and Colorado Springs, Colorado.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 4:39 pm

CSIQ

Canadian Solar Inc (NASDAQ:CSIQ) plans to establish a 5 GW Solar photovoltaic cell production facility in Jeffersonville, Indiana, with an investment of over $800 million. The company expects to create around 1,200 high-tech jobs by 2025. The facility is expected to produce 5 GW annually, which will be used at the previously announced 5 GW module assembly plant in Mesquite, Texas. Last week, CSIQ's subsidiary CSI Solar Co., Ltd won a supply and integration contract for 1 GWh DC of energy storage solutions for DEPCOM Power, Inc. and Tucson Electric Power (TEP) in Arizona.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 4:37 pm

AAPL

AMC

CMCSA

The movie adaptation of the video game 'Five Nights at Freddy's' topped the domestic box office with $78 million, beating Taylor Swift's concert film 'The Eras Tour'. The movie was released by Universal, a unit of Comcast Corporation (NASDAQ:CMCSA), and simultaneously released on the Peacock streaming service. The Taylor Swift concert film, distributed by AMC Entertainment Holdings Inc (NYSE:AMC), came in second place for the weekend with $14.7 million. Ranking third for the weekend was 'Killers of the Flower Moon', a film from Apple Inc (NASDAQ:AAPL).

Portfolio Pulse from Chris Katje

October 30, 2023 | 4:33 pm