Streetbeat News

Regulatory

TBIO

Telesis Bio's stock price increased following the announcement that the company has been granted a European patent (EUR Patent #3503915) for 'Genetically Engineered Vibrio Natriegens (Host Organism For Cloning And Manipulating DNA)'.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:37 pm

LPLA

WTFC

LPL Financial Holdings Inc. (LPLA) and Wintrust Financial Corporation (WTFC) have announced a strategic relationship to transition the support of Wintrust's wealth management business, including approximately 85 advisors and $16 billion of brokerage and advisory assets, to the LPL Institution Services platform. This includes $13 billion from Wintrust Investments, LLC and $3 billion from Great Lakes Advisors, LLC. The transition aims to enhance client service and advisor capabilities through LPL's technology investments and is expected to be completed in Q1 2025, pending regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:34 pm

BPMC

Blueprint Medicines Corporation announced positive long-term efficacy and safety data for AYVAKIT in treating indolent systemic mastocytosis (ISM) and preclinical data for BLU-808 targeting chronic urticaria and other mast cell diseases at the 2024 AAAAI Annual Meeting. AYVAKIT showed durable symptom improvements and a well-tolerated safety profile in ISM patients, with plans to establish it as a standard of care. BLU-808, a potent oral wild-type KIT inhibitor, demonstrated promising preclinical results, with an IND submission expected in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 1:04 pm

AMD

NVDA

Nvidia Corp (NASDAQ:NVDA) has significantly impacted the AI and computing industries with its H100 data center chip, adding over $1 trillion to its value. The company reported a 265% year-over-year increase in fourth-quarter revenue, reaching $22.10 billion, and an adjusted EPS of $5.16, both surpassing Street estimates. The H100 chip's demand is so high that customers face up to six-month wait times. Nvidia holds about 80% of the AI accelerator market share and is introducing new chips for the Chinese market, complying with U.S. regulations. Nvidia's stock has gained over 63% year-to-date, while Advanced Micro Devices, Inc (NASDAQ:AMD) has seen a 31% increase.

Portfolio Pulse from Anusuya Lahiri

February 23, 2024 | 1:01 pm

NLSP

NLS Pharmaceutics announced it has submitted a plan to regain compliance with Nasdaq listing requirements. The company's efforts to meet Nasdaq's standards highlight its commitment to maintaining its listing and providing value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:45 pm

TGH

Textainer has announced that its shareholders have approved the company's pending acquisition by Stonepeak. Additionally, the necessary antitrust approvals have been received, clearing significant hurdles for the completion of the acquisition.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:41 pm

NVDA

QQQ

RSP

SMH

SPY

XLI

XLV

U.S. stocks are set for a mixed open after Thursday's rally, driven by Nvidia's strong quarterly results and Federal Reserve Governor Lisa Cook's comments on interest rates. The Nasdaq Composite and S&P 500 reached new highs, with IT stocks leading gains. Analysts suggest earnings will be a major market catalyst this year, with mixed views on the economy's direction and the Federal Reserve's actions. Premarket trading saw movements in several stocks due to earnings reports, with notable rises and falls.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 12:34 pm

LEGN

Legend Biotech announced that the Committee for Medicinal Products for Human Use (CHMP) has given a positive opinion on CARVYKTI (ciltacabtagene autoleucel) for treating patients with relapsed and lenalidomide refractory multiple myeloma in earlier lines of therapy. This marks a significant milestone for Legend Biotech, potentially enhancing its market position and product portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:16 pm

CMND

Clearmind Medicine has announced receiving approval to start a Phase I/IIa clinical trial for its drug CMND-100, aimed at treating Alcohol Use Disorder.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:08 pm

CSLLY

TVTX

Travere Therapeutics and CSL Vifor announced that the European Medicines Agency's CHMP has recommended approval of Sparsentan for primary IgA Nephropathy with a urine protein excretion >1.0 g/day. A decision from the European Commission is expected in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 12:07 pm