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BIIB

SAGE

The FDA approved Sage Therapeutics Inc and Biogen Inc's Zurzuvae for adults with postpartum depression but issued a Complete Response Letter for the New Drug Application for zuranolone for major depressive disorder. Analysts from Wedbush, William Blair, Needham, Truist Securities, and HC Wainwright have expressed concerns about the effectiveness of zuranolone and the potential need for additional studies. Price targets for both companies have been lowered, and SAGE shares are down 52.30%.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:44 pm

SAGE

VTGN

The article lists the stocks that gained and lost the most during Monday's mid-day trading session. Among the gainers were Vistagen Therapeutics, Save Foods, Poseida Therapeutics, and Missfresh Limited, all of which saw significant jumps in their share prices due to various positive developments. On the other hand, Sage Therapeutics, Tivic Health Systems, Yellow Corporation, and Quantum-Si incorporated were among the biggest losers, with their shares tumbling due to negative news such as worse-than-expected results and regulatory setbacks.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 5:28 pm

AMZN

Amazon.com is scheduled to meet with the Federal Trade Commission (FTC) next week. This meeting comes amid expectations of a potential antitrust lawsuit against the online retailer, as reported by Reuters.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 5:10 pm

SPY

VGK

Ukraine's Foreign Minister has requested the U.S. to supply Kyiv with Long-Range Army Tactical Missile Systems (ATCMs).

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 4:47 pm

TSLA

Used Tesla Inc vehicles may now be eligible for a federal tax credit of up to $4,000, according to updated guidance from the Internal Revenue Service (IRS). This change could be a significant boost for prospective Tesla buyers looking to enter the electric vehicle (EV) market at a lower price point. The IRS has not explicitly confirmed the eligibility of used Tesla vehicles for this tax credit, but the new direction suggests a possible change in their status.

Portfolio Pulse from Benzinga EV Insights

August 07, 2023 | 4:37 pm

BTCUSD

Esther Freeman, a pensioner who earned approximately $270,000 from Bitcoin investments, had her lawsuit against Bank Hapoalim dismissed after reaching an agreement. Freeman had sued the bank for refusing her deposit of the cryptocurrency profits. The bank had declined her deposit request, citing the inability to verify the money's origin and the inherent risks of digital currencies. The outcome of Freeman's attempt to deposit her earnings remains unclear.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 4:28 pm

GOOG

MSFT

Alphabet Inc. faces regulatory risks due to the UK's new data protection bill, which critics say favors big businesses and undermines individual data control. A federal judge has narrowed the antitrust lawsuit against Google, but the case will proceed focusing on Google's default search engine agreements. Google's generative AI tools are being exploited to flood fake news sites, posing a threat to the company's ad business.

Portfolio Pulse from Mohit Manghnani

August 07, 2023 | 4:19 pm

AXSM

BIIB

SAGE

Axsome Therapeutics reported Q2 sales of $46.7 million, beating the consensus of $40.19 million. Sales from Auvelity, a prescription oral medicine for major depressive disorder (MDD), reached $27.6 million. The FDA's rejection of Sage Therapeutics and Biogen's zuranolone for MDD is seen as a positive for Axsome's Auvelity. Analysts believe this will increase Auvelity's competitive edge as a novel-acting branded antidepressant.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 4:07 pm

ZM

Zoom has updated its terms of service to allow the use of some customer data for training its AI models. The data includes product usage, telemetry, and diagnostic data. The company clarified that it does not use audio, video, or chat content for AI training without customer consent. However, when users enable Zoom's generative AI features, they sign a consent form allowing Zoom to use their content for AI training.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 4:00 pm

CDNA

NTRA

CareDx, Inc. (NASDAQ:CDNA) announced that the US District Court for the District of Delaware issued an injunction prohibiting Natera (NASDAQ:NTRA) from falsely advertising and overstating the scientific performance of its Prospera transplant test. This follows a decision by the District Court to uphold a March 2022 jury verdict that found Natera violated the Lanham Act by falsely advertising the test. CareDx intends to appeal the District Court's decision regarding the monetary damages awarded by the jury.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 3:10 pm