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WBD

Warner Bros. Discovery Inc. plans to add live programming from CNN to its Max streaming service later this year. The move is aimed at attracting more subscribers. Live news will also be added to the service outside the US.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:42 pm

CGTX

Cognition Therapeutics Inc (NASDAQ:CGTX) announced the results from its Phase 2 study of CT1812 in adults with Alzheimer's disease. The study met its primary endpoints for safety and tolerability, and demonstrated positive effects for CT1812-treated participants. However, the results were not statistically significant, which may be causing investor concern. CGTX shares are down 20.0% at $2.00.

Portfolio Pulse from Vandana Singh

June 28, 2023 | 3:40 pm

ZI

Shares of ZoomInfo Technologies Inc (NASDAQ:ZI) climbed after the company released new product features based on Generative AI. Needham analyst Joshua Reilly initiated coverage of ZoomInfo with a Buy rating and a price target of $35, citing the company's potential for accelerated growth and attractive unit economics. The stock's current valuation offers an attractive entry point, especially for those who can wait for a recovery in demand for the company's solutions.

Portfolio Pulse from Priya Nigam

June 28, 2023 | 3:35 pm

AMZN

Amazon's cloud subsidiary, AWS, has launched AppFabric, a no-code service that integrates SaaS apps. The product is expected to reduce customer churn by increasing exit costs. AWS plans to launch an AI assistant by the end of the year, which will be able to convert email threads or Slack conversations into an Asana task list. Needham analyst Laura Martin maintains a Buy rating on Amazon, raising the price target from $120 to $150.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 3:34 pm

BABA

MA

TCEHY

V

Tencent Holding Ltd (TCEHY) and Alibaba Group Holding Limited (BABA) fintech affiliate Ant Group have extended support for linking international credit cards to their platforms, WeChat and Alipay respectively. This move is aimed at providing greater convenience for foreign tourists and expanding the usage of WeChat Pay and Alipay in China's market. Visa Inc (V) and Mastercard Inc (MA) are the credit card companies involved in this initiative.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 3:29 pm

ALZN

Alzamend Neuro's CEO, Stephan Jackman, has projected that the company will see topline results from its combined Phase I & Phase II vaccine by 2024.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:14 pm

ALZN

Alzamend Neuro's CEO, Stephan Jackman, has announced that the company plans to submit three Investigational New Drug applications (INDs) to the FDA in 2023. These applications will be for treatments of bipolar disorder, major depressive disorder, and PTSD.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:13 pm

RXT

Rackspace Technology (RXT) has appointed its CTO, Srini Koushik, as the global head of its new spin-up, Foundry for Generative AI by Rackspace (FAIR). The move comes as 90% of IT decision-makers surveyed by Rackspace expressed a desire to leverage AI technologies in their cloud modernization efforts. Rackspace aims to accelerate the secure, responsible, and sustainable adoption of generative AI solutions across industries.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:07 pm

NERV

Minerva Neurosciences, Inc (NASDAQ:NERV) has received a $20 million investment from Boehringer Ingelheim and Federated Hermes Kaufmann Funds via a private placement of its shares. The company plans to use the proceeds to support potential regulatory approval and market launch of roluperidone, a drug being developed to treat negative symptoms of schizophrenia. The private placement is expected to close on June 30, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2023 | 2:49 pm

CDNS

SSNLF

Cadence Design Systems (NASDAQ:CDNS) has delivered a complete, certified backside implementation flow to support Samsung Foundry's SF2 process node. This collaboration enables customers to leverage the Cadence digital full flow and corresponding process design kit (PDK) to speed next-generation mobile, automotive, AI and hyperscale chip design innovation. The flow has been validated with the completion of a successful 2nm test chip tapeout.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 2:47 pm