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YPF

Argentine oil company YPF has increased fuel prices by an average of 25%, according to a company source cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:17 pm

GLD

GOVT

STIP

TBT

TIP

A survey by FocalData and Financial Times reveals a discrepancy between Americans' perceptions of the economy and actual data. Despite improvements in inflation, wages, and net worth since the pandemic, a majority of respondents believe the economy is worse off. The survey's findings suggest that public sentiment may be influenced by media focus, political narratives, and emotional impacts of past economic conditions. The article also suggests five ETFs for investors considering the inflation outlook: TIP, GLD, GOVT, TBT, and STIP.

Portfolio Pulse from Natan Ponieman

December 08, 2023 | 7:15 pm

IMCC

The Israel Ministry of Health has postponed the implementation of medical cannabis regulatory reform by three months due to the Israel-Hamas war. The reform, which aims to ease restrictions and improve patient access, is expected to boost Israel's medical cannabis exports. IM Cannabis Corp. (NASDAQ:IMCC), the first Israeli cannabis company on NASDAQ, remains optimistic about the reform's future impact. Meanwhile, Israel has seen a surge in medical cannabis patients, particularly post-war, with a record increase in November 2023.

Portfolio Pulse from Jelena Martinovic

December 08, 2023 | 6:47 pm

AAPL

RBLX

UMGNF

Nicki Minaj is collaborating with Roblox Corp (NYSE:RBLX) for the launch of her new album 'Pink Friday 2,' which has already topped the US Apple Music charts, surpassing SZA's 'SOS'. The album, produced by Universal Music Group NV (OTC:UMGNF), features artists like J. Cole and Drake. Roblox shares surged by 2.93% following the news, with strong Q3 FY23 results showing a 20% increase in Bookings and a 38% revenue rise. The stock has surged over 46% year-to-date.

Portfolio Pulse from Franca Quarneti

December 08, 2023 | 6:12 pm

BLUE

Bluebird Bio announced the commercial launch of LYFGENIA gene therapy for sickle cell disease patients aged 12+ with a history of vaso-occlusive events. The therapy is priced at $3.1M and will be available through a network of Qualified Treatment Centers in Q1 2024. Bluebird offers outcomes-based contracts to payers and a patient support program. Clinical data shows LYFGENIA may be curative, reducing healthcare costs and improving life quality. Discussions are ongoing with major payers and Medicaid agencies, with 27 centers ready for patient referrals.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 6:04 pm

CRSP

VRTX

Vertex Pharmaceuticals and CRISPR Therapeutics announced FDA approval of CASGEVY, a CRISPR-based gene-editing therapy for sickle cell disease (SCD) in patients 12+ with severe symptoms. This marks the first U.S. approval of a CRISPR therapy, potentially benefiting 16,000 patients. Vertex will make a $200 million milestone payment to CRISPR and handle global development, manufacturing, and commercialization of CASGEVY, recording 100% of revenues and costs, and sharing net profits or losses with CRISPR. CASGEVY is also under review in Europe and Saudi Arabia, and a PDUFA date for TDT treatment in the U.S. is set for March 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:54 pm

BLUE

Bluebird Bio, Inc. (NASDAQ:BLUE) announced FDA approval of LYFGENIA for sickle cell disease treatment in patients 12+ with a history of vaso-occlusive events. LYFGENIA, a one-time gene therapy, aims to resolve these events and treat the disease's underlying cause. The approval is based on data from the HGB-206 study, with 94% of evaluable patients experiencing resolved severe VOEs. Bluebird plans to make LYFGENIA available in early 2024 through its Qualified Treatment Centers. The company will host a conference call to discuss the approval.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:36 pm

PPIH

Perma-Pipe International Holdings Inc (NASDAQ:PPIH) shares surged after reporting a 21% year-on-year increase in third-quarter FY23 sales to $45.7 million. The growth was primarily due to higher sales volume in Saudi Arabia. Gross profit rose 18.9% to $13.2 million, but the profit margin slightly contracted. Operating income increased by 33.1% to $6 million, and EPS improved to $0.24 from $0.21 last year. The company's backlog has grown each quarter this year, now at $73.1 million. PPIH shares jumped 14.90% to $8.00.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 4:46 pm

CRSP

VRTX

The U.S. FDA has approved Casgevy, the first CRISPR gene-editing treatment for sickle cell disease, co-developed by Vertex Pharmaceuticals and CRISPR Therapeutics. The treatment, which could cost around $2 million per patient, is expected to generate $1.2 billion in sales by 2028. Casgevy has been approved for patients 12 years and older and uses CRISPR to edit DNA to turn on fetal hemoglobin. The complex treatment process includes chemotherapy and a hospital recovery period, and will be limited to certain health facilities.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:29 pm

DIA

IWM

QQQ

SPY

The University of Michigan's consumer sentiment survey for December 2023 showed a significant increase in consumer confidence and a decrease in inflation expectations. The consumer sentiment index rose to 69.4, a 13.2% increase from November and 16.1% year-over-year growth. Inflation expectations for the year ahead fell to 3.1%, the lowest since March 2021. U.S. stocks, including major ETFs, responded positively to the survey, with SPY, DIA, QQQ, and IWM all registering gains.

Portfolio Pulse from Piero Cingari

December 08, 2023 | 3:33 pm