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TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped in premarket trading on Tuesday following a 6% rally the previous session. The decline is attributed to several factors including a 6.8% week-over-week decrease in weekly insurance registrations for Tesla vehicles in China, a critical market for Tesla. This downturn in Chinese market performance, coupled with broader market weakness and anticipation of the Federal Reserve's interest rate decisions, has negatively impacted investor sentiment. Analysts are concerned that Tesla's first-quarter deliveries may not meet consensus expectations, further contributing to the stock's premarket decline.

Portfolio Pulse from Shanthi Rexaline

March 19, 2024 | 12:20 pm

CLPT

ClearPoint Neuro, Inc. (CLPT) congratulates its partner PTC Therapeutics on the completion of a Biologics License Application (BLA) submission to the FDA for Upstaza, a treatment for AADC Deficiency. If approved, Upstaza would be the first therapy for this condition in the U.S. AADC Deficiency is a rare, fatal genetic disorder causing severe disability from birth. ClearPoint's SmartFlow Cannula, used in delivering gene therapies to the brain, has been sold over 7,000 times and is part of their partnership with PTC Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:17 pm

TNXP

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) announced its transition to a fully integrated biopharmaceutical company by April 1, 2024. This follows the acquisition of Zembrace® SymTouch® and Tosymra®, both migraine treatments. Tonix aims to market these products through its subsidiary, Tonix Medicines, and prepare for the potential 2025 launch of Tonmya™ for fibromyalgia, pending FDA approval. The company is enhancing its commercial capabilities, including distribution, marketing, and regulatory aspects.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:04 pm

CMND

Clearmind Medicine's stock is trading higher following the announcement of divisional patent approval by the China National Intellectual Property Administration.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 11:59 am

CMND

Clearmind Medicine Inc., a biotech company specializing in psychedelic-derived therapeutics, announced receiving divisional patent approval in China from the China National Intellectual Property Administration for its treatments.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 11:56 am

AMD

COIN

FUSN

NVDA

SNPS

US stock futures indicate a lower opening due to Fed meeting concerns and the Bank of Japan's policy shift. Tech stocks like Nvidia and Apple had previously boosted the market, but pre-Fed jitters and a lack of major catalysts are dampening sentiment. Nvidia, AMD, and Synopsys saw notable premarket movements, while Coinbase and Robinhood dropped with Bitcoin. Fusion Pharmaceuticals surged on an AstraZeneca buyout deal. Oil paused its rally, and global markets showed mixed responses.

Portfolio Pulse from Shanthi Rexaline

March 19, 2024 | 11:41 am

CWI

INTC

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSM) and Intel Corp (INTC) face construction delays in Arizona due to high costs and labor shortages, impacting their efforts to strengthen the U.S. semiconductor supply chain. Suppliers like LCY Chemical and Solvay have paused or downscaled their plans, citing increased expenses and operational challenges. This situation reflects broader issues in expanding the U.S. chip supply, with costs significantly higher than in Asia. TSMC and Samsung are also adjusting their global expansion strategies due to these challenges. TSMC's stock has risen 52% due to the AI boom, with exposure available through ETFs like SOXX and CWI.

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 11:32 am

F

HMC

The National Highway Traffic Safety Administration (NHTSA) is investigating a fatal crash involving a Ford Motor Company's Mustang Mach-E in San Antonio, Texas, due to suspicions that an advanced driver assistance system was active. The crash, which occurred on February 24, also involved a stationary Honda Motor Co Ltd CR-V. This marks NHTSA's first special crash investigation into a Ford advanced system, while the NTSB has also initiated a separate inquiry focusing on the interaction between vehicle operators and advanced driver assistance systems.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 10:52 am

INTC

Intel is set to receive a grant under the Chips Act, as reported by CNBC. This development is part of a broader initiative to bolster the semiconductor industry in the United States. The grant aims to support Intel's efforts in enhancing its manufacturing capabilities and competitiveness on a global scale.

Portfolio Pulse from Charles Gross

March 19, 2024 | 10:47 am

CRNX

Crinetics Pharmaceuticals announced successful topline results from its PATHFNDR-2 Phase 3 trial of Paltusotine for Acromegaly, achieving the primary and all secondary endpoints. The company expects to submit a New Drug Application (NDA) to the FDA in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:06 am