Streetbeat News

Regulatory

RNXT

RenovoRx announced interim Phase III data showing that RenovoGem delays cancer progression by eight months in locally advanced pancreatic cancer. The results also showed a six-month overall survival benefit with RenovoGem versus systemic chemotherapy, and a 65% reduction in adverse effects. This highlights RenovoGem's potential to change the treatment paradigm for locally advanced pancreatic cancer.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:02 pm

COST

NFLX

Costco Wholesale Corporation (NASDAQ:COST) is implementing stricter measures to prevent card-sharing among customers, following a trend set by companies like Netflix Inc (NASDAQ:NFLX). Costco now requires photo identification and customers' membership cards at its self-checkout registers. The move aims to prevent nonmembers from reaping the benefits and pricing available to the members. In 2022, Costco generated $4.2 billion in sales from membership fees, up 9% Y/Y.

Portfolio Pulse from Vandana Singh

June 29, 2023 | 11:49 am

BABA

BIDU

Alibaba Group's cloud unit and Fudan University have partnered to create a cloud-based computing platform for universities in China. The platform supports large language models and has released a model with 4.5 billion parameters, improving weather forecasting. Chinese firms, including Alibaba and Baidu, are developing large-language model technology. Meanwhile, the U.S. is reportedly adopting a stricter stance over China's AI ambitions, aiming to revise export controls on AI chips to limit China's access to advanced technologies.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:27 am

GOOG

GOOGL

META

MSFT

The tech industry is witnessing intensified rivalries among tech giants, particularly with the advent of generative artificial intelligence (AI). The competition extends to search engines, operating systems, and cloud computing. Microsoft's Bing is leveraging AI to challenge Google's dominance in the search engine market. Meta is preparing to launch a Twitter competitor, and Google has filed a complaint against Microsoft for alleged unfair practices in the cloud-computing market. AI is expected to disrupt these sectors further, with companies like Microsoft and Google rushing to release generative AI products.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 11:20 am

LQDA

UTHR

Liquidia is reportedly evaluating a patent application claim from United Therapeutics. Further details about the claim are not provided.

Portfolio Pulse from Charles Gross

June 29, 2023 | 11:12 am

ALDX

Aldeyra Therapeutics has announced positive topline results from the Phase 2 trial of intravitreal ADX-2191 for Retinitis Pigmentosa, showing statistically significant improvement in retinal function relative to baseline.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:12 am

BAC

JPM

SCHW

WFC

Bank stocks are trading higher after the Federal Reserve's stress test results showed all 23 banks tested remained above their minimum capital requirements during a hypothetical recession.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:09 am

CANF

Can-Fite has received positive feedback from the FDA regarding the development and registration plans for Piclidenoson. The FDA has encouraged the company to enroll adolescent patients due to the strong safety profile of the drug demonstrated over its development history and prior studies.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:05 am

DIS

Republican presidential candidate and Florida governor, Ron DeSantis, proposed the elimination of several federal departments, including the Department of Education, Commerce, Energy, and the IRS. This proposal is part of his broader political stance against what he perceives as 'woke culture' infiltrating American institutions. DeSantis' proposal comes amidst a series of controversies and political battles, including a feud with the Walt Disney Company (NYSE:DIS).

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 11:03 am

GNTA

Genenta Science has received Orphan Drug Designation from the European Commission for Temferon, a treatment for glioma. This designation could provide Genenta with various benefits, including market exclusivity for a period after product approval.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:03 am