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AGIO

RPRX

Agios Pharmaceuticals (NASDAQ: AGIO) has agreed to sell its rights to a 15% royalty on potential U.S. net sales of Servier’s vorasidenib to Royalty Pharma (NASDAQ: RPRX) for an upfront payment of $905 million upon FDA approval. Agios will retain a 3% royalty on annual U.S. net sales over $1 billion. The FDA has set a PDUFA action date of August 20 for vorasidenib. AGIO shares are up 20.7% following the announcement.

Portfolio Pulse from Vandana Singh

May 28, 2024 | 5:00 pm

FCEL

FuelCell Energy has signed a long-term service agreement with Gyeonggi Green Energy Co. The agreement includes the purchase of 42 upgraded carbonate fuel cell modules to replace existing modules at the Hwaseong Baran Industrial Complex. FuelCell Energy expects to receive approximately $160 million in revenue over the term of the agreement.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 4:50 pm

ESLT

Elbit Systems Ltd. (NASDAQ:ESLT) reported first-quarter FY24 revenue of $1.554 billion, beating the consensus of $1.463 billion. Despite this, shares fell 2.89% due to a contraction in adjusted gross margin and flat operating margin. The company declared a $0.50 dividend and secured significant contracts worth over $1 billion.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 4:49 pm

GETY

Getty Images Holdings, Inc. (NYSE: GETY) shares are up 4.11% to $3.55 following a partnership with FILMPAC to distribute premium stock footage. The collaboration aims to meet the high-quality content demands of Getty's clients. Despite a 5.2% year-over-year decrease in Creative revenue in Q1, the company continues to expand its offerings, including the recent acquisition of Motorsport Images.

Portfolio Pulse from Nabaparna Bhattacharya

May 28, 2024 | 4:38 pm

FANG

OILT

PXE

Energy Transfer LP (NYSE: ET) is acquiring WTG Midstream Holdings LLC from Diamondback Energy, Inc. (NASDAQ: FANG) and other affiliates for $3.25 billion. The deal includes $2.45 billion in cash and 50.8 million newly issued Energy Transfer common units. The acquisition is expected to enhance Energy Transfer's natural gas pipeline and processing network in the Permian Basin. Diamondback Energy will use the proceeds to reduce debt related to its pending merger with Endeavor Energy Resources. The transaction is expected to close in Q3 2024, subject to regulatory approval.

Portfolio Pulse from Lekha Gupta

May 28, 2024 | 4:32 pm

AMC

CNK

DIS

SONY

WBD

The Memorial Day weekend box office recorded its worst performance in three decades, with new releases 'Furiosa' and 'The Garfield Movie' failing to attract significant audiences. This continues a trend of declining ticket sales, exacerbated by ongoing Hollywood strikes and competition from streaming platforms.

Portfolio Pulse from Chris Katje

May 28, 2024 | 4:25 pm

MUFG

SMFG

Shares of Japanese banks are trading higher after Japan's services prices increased in April.

Portfolio Pulse from Benzinga Newsdesk

May 28, 2024 | 4:22 pm

ARM

GOOG

INTC

MSFT

NVDA

QCOM

Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on Arm Holdings (NASDAQ:ARM) with a price target of $180, citing strong licensing interest and growth potential in AI and datacenter markets. Nvidia (NASDAQ:NVDA) and Arm are highlighted as top picks for long-term growth.

Portfolio Pulse from Anusuya Lahiri

May 28, 2024 | 4:02 pm

COST

In the past three months, 27 analysts have provided ratings for Costco Wholesale (NASDAQ:COST), with a mix of bullish and somewhat bullish sentiments. The average 12-month price target has increased to $787.96, reflecting a 5.14% rise from the previous average. Analysts have frequently updated their recommendations, with several raising their price targets. Costco's strong financial performance, including a 5.75% revenue growth rate and a net margin of 2.98%, supports these positive ratings.

Portfolio Pulse from Benzinga Insights

May 28, 2024 | 4:01 pm

PAYS

In the last three months, 9 analysts have published ratings on PaySign (NASDAQ:PAYS), with a mix of bullish and somewhat bullish sentiments. Analysts have set a 12-month average price target of $5.61, reflecting a 10.87% increase from the previous target. Key analysts have maintained or raised their ratings and price targets, indicating positive sentiment. PaySign has shown strong financial performance with notable revenue growth, net margin, ROE, and ROA, and maintains a balanced debt approach.

Portfolio Pulse from Benzinga Insights

May 28, 2024 | 4:01 pm