Streetbeat News

Regulatory

XFOR

X4 Pharmaceuticals' stock is trading higher following the FDA's approval of Xolremdi (mavorixafor) for the treatment of WHIM syndrome.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:34 am

XFOR

The FDA has approved X4 Pharmaceuticals' Xolremdi (Mavorixafor) capsules for patients 12 years and older with WHIM Syndrome, aimed at increasing circulating mature neutrophils and lymphocytes.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:32 am

TSLA

Elon Musk's recent visit to China for Tesla's FSD push coincides with China's increasing focus on hydrogen-powered vehicles as an alternative for green energy transition. The Chinese government is rolling out incentives for hydrogen vehicles, with Sichuan province leading initiatives like toll exemptions and subsidies for hydrogen refueling stations. Meanwhile, China's EV sector faces overcapacity, with production outpacing sales. Despite Musk's skepticism towards hydrogen energy, China is advancing its hydrogen infrastructure, positioning itself as a leader in clean energy. Tesla is also partnering with Baidu to introduce driver assistance features in China.

Portfolio Pulse from Pooja Rajkumari

April 29, 2024 | 10:32 am

MNKD

MannKind Corporation announced that the U.S. FDA has cleared its IND application for MNKD-101, a Clofazimine Inhalation Suspension, to start a Phase 3 study for treating nontuberculous mycobacterial lung disease. This marks a significant step in the development and commercialization of innovative inhaled therapeutic products targeting endocrine and orphan lung diseases.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:07 am

BKKT

CLVR

PHG

TSLA

Koninklijke Philips N.V. (PHG) shares surged 37.1% in pre-market trading after announcing Q1 results and a $1.1 billion settlement in the US. Other stocks showed significant movement, with Inno Holdings, Ryde Group, and Akanda Corp among the top gainers. Conversely, Bakkt Holdings and Clever Leaves led the pre-market losers following a reverse stock split and delisting announcement, respectively. Tesla also gained attention with a 7.3% increase after announcing layoffs and a price hike for its Model 3 Performance.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 9:53 am

BTCUSD

ETHUSD

The Australian Securities Exchange (ASX) is reportedly on track to approve Australia's first spot-Bitcoin ETF before the end of 2024. DigitalX Ltd., VanEck, and BetaShares are among the entities that have submitted applications. This move follows the U.S. and Hong Kong's approval of Bitcoin ETFs, indicating a growing acceptance of cryptocurrency-based financial products in Asia. Morgan Stanley is also considering recommending Bitcoin ETFs to its clients, highlighting the increasing interest in these products.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 9:38 am

TSLA

Tesla Inc (NASDAQ:TSLA) is planning a European tour for its Cybertruck, starting April 30, covering cities like London, Berlin, and Amsterdam, despite the vehicle not being for sale in Europe. This follows a similar tour in China earlier this year. Tesla aims to deliver 250,000 units annually by 2025 but faced a recall of 3,878 vehicles over unintended acceleration issues.

Portfolio Pulse from Anan Ashraf

April 29, 2024 | 9:17 am

AZN

DSKYF

Daiichi Sankyo and AstraZeneca's ENHERTU showed significant improvement in HR+, HER2 low breast cancer in the DESTINY-Breast06 trial, with plans for global regulatory submissions.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:14 am

PHG

Koninklijke Philips (PHG) reiterates its 2025 plan, expecting 3-5% comparable sales growth and an Adjusted EBITA margin of 11-11.5% for 2024. The company now forecasts free cash flow of EUR 0.9-1.1 billion for 2024, factoring in insurance receipts for Respironics product liability claims and economic loss settlements. Payments for personal injury and medical monitoring litigation are anticipated in 2025. The outlook does not include potential impacts from ongoing Philips Respironics-related legal issues, including a US Department of Justice investigation.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 5:22 am

RIVN

Rivian Automotive Inc. (NASDAQ:RIVN) has introduced a new charger design to make its Rivian Adventure Network (RAN) accessible to a wider range of electric vehicles (EVs) by the end of the year. The new chargers will support both 400-volt and 800-volt battery packs with CCS connectors and will eventually include native support for the North American Charging Standard (NACS), currently requiring an adapter for Tesla's NACS chargers. This expansion aligns with Rivian's commitment to electrification and carbon-free energy, with the company planning to retrofit existing RAN stations and ensure new ones are equipped with these next-generation chargers. The move also enables Rivian to tap into the U.S. National Electric Vehicle Infrastructure (NEVI) program for funding.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 3:12 am