Streetbeat News

Revenues

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

ADDDF

ASO

COLM

DKS

NKE

Adidas (OTC:ADDDF) is recovering from a tough 2023, with better-than-expected Q3 results and a 50% stock increase this year, despite a 74% drop from its July 2022 peak. Nike (NYSE:NKE) shares are down 36% from their November 2021 high. The 2024 Paris Olympics and Euro 2024 are expected to boost visibility and sales for sportswear brands, with new sports like breaking (dance) aligning with brands like Nike, Adidas, Under Armour Inc (NYSE:UA), and retailers such as Dick's Sporting Goods Inc (NYSE:DKS), Columbia Sportswear Company (NASDAQ:COLM), and Academy Sports and Outdoors Inc (NASDAQ:ASO). Nike sponsors U.S., Japanese, and South Korean breaking federations, and Adidas signed the world's top female breaker. The sports apparel market is valued at $200 billion annually, and the 2024 events could significantly increase sales for these companies.

Portfolio Pulse from Neil Dennis

December 08, 2023 | 3:21 pm

RBLX

Third-party data indicates that Roblox (RBLX) experienced an acceleration in bookings to over 30% in November, up from under 20% in October. Additionally, daily active users (DAUs) and hours engaged have also shown an increase.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 2:46 pm

PPIH

Perma-Pipe International Holdings reported an increase in earnings per share (EPS) to $0.24 in Q3 2023 from $0.21 in the same quarter the previous year. Revenue also rose to $45.7 million from $37.9 million year-over-year.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 2:26 pm

AAPL

CSCO

DELL

GOOG

NOK

Cyclone Michaung has disrupted manufacturing operations in Chennai, affecting suppliers to major tech companies like Apple, Dell, and Nokia. While most companies have resumed production, the cyclone's impact could have short-term implications for these companies' supply chains. Apple's suppliers Foxconn, Salcomp, Luxshare, and Pegatron, as well as Dell, Nokia, and Cisco, which have significant operations in the area, are particularly noteworthy. Google's expansion plans with Alphabet CEO Sundar Pichai's discussions and partnership with HP for Chromebook manufacturing in India are also highlighted.

Portfolio Pulse from Surbhi Jain

December 08, 2023 | 2:00 pm

CDMO

Avid Bioservices shares have declined following the announcement of disappointing Q2 financial results and a reduction in the revenue guidance for FY24, which fell below analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 1:59 pm

ACB

CGC

CRON

GNLN

OGI

TLLTF

TLRY

VFF

The report by Zuanic & Associates on the Canadian cannabis market shows regional disparities and growth trends, with a 16% YoY growth in nationwide sales. Alberta leads in store density and per capita spending, while Quebec has the lowest. The market is affected by high excise taxes, product caps, and marketing restrictions. Organigram, Village Farms International, Cronos, and others saw varying growth rates across provinces, while companies like Canopy and Tilray experienced declines. The upcoming Vape Market Trends panel will feature CEOs from TILT Holdings and Greenlane Holdings.

Portfolio Pulse from Nicolás Jose Rodriguez

December 08, 2023 | 1:52 pm