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BMY

Bristol Myers Squibb & Co (NYSE:BMY) announced positive data from the Phase 3 CheckMate -77T trial of the perioperative regimen of neoadjuvant Opdivo with chemotherapy for non-small cell lung cancer. The Opdivo regime reduced the risk of disease recurrence, progression or death by 42% compared to neoadjuvant chemotherapy and placebo. The company's shares are down 0.17% at $57.28.

Portfolio Pulse from Vandana Singh

October 18, 2023 | 3:15 pm

FSLR

First Solar's stock has been maintained with an Equal-Weight rating, but its price target has been lowered from $226 to $214. This has led to a decrease in the trading price of the company's shares.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:15 pm

GLD

ITA

SPY

TLT

The yields on 30-year Treasuries crossed the 5% mark after President Joe Biden committed to an 'unprecedented support package for Israel.' Yields on 10-year Treasuries also rose, reaching 4.9%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) declined by 1.3%, extending its year-to-date decline to 18%. The SPDR Gold Trust ETF (NYSE:GLD) increased by 1.5% reflecting the increasing geopolitical risks in the Middle East. The S&P 500 Index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), dropped by 0.5%. Defense stocks outperformed, with the iShares U.S. Aerospace & Defense ETF (NYSE:ITA) rising by 0.6%.

Portfolio Pulse from Piero Cingari

October 18, 2023 | 3:15 pm

ICU

SeaStar Medical has received Breakthrough Device Designation from the FDA for its Selective Cytopheretic Device for hepatorenal syndrome. This has led to an increase in the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:15 pm

BAC

Bank of America Corp (NYSE:BAC) reported better-than-expected earnings for Q3, with EPS of $0.90, beating the consensus of $0.81. Revenue increased 3% YoY to $25.32 billion, beating the consensus of $25.14 billion. Despite the positive earnings, BAC shares fell 0.6% to trade at $27.43. BMO Capital and Oppenheimer raised their price targets on BAC following the earnings announcement.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 3:13 pm

KURA

Kura Oncology Inc announced positive results from its AIM-HN study of tipifarnib in patients with HRAS mutant head and neck squamous cell carcinoma. The study showed meaningful antitumor activity in patients who had progressed after prior therapy. The results will be featured at the 2023 European Society for Medical Oncology Congress. KURA shares are up 0.34% at $8.75 on the last check Wednesday.

Portfolio Pulse from Vandana Singh

October 18, 2023 | 3:12 pm

ABT

Abbott Laboratories reported better-than-expected Q3 results, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:09 pm

FBYD

Shares of Falcon's Beyond Global, Inc. were halted on a circuit breaker due to a significant increase in the stock price. The stock is now up by 259.2%.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:08 pm

LMT

Lockheed Martin Corp reported Q3 FY23 net sales growth of 1.8% YoY to $16.88 billion, beating the consensus of $16.73 billion. Adjusted EPS of $6.77 (-1.5% YoY) also topped the consensus of $6.67. Following the earnings announcement, Citigroup and JP Morgan lowered their price targets on Lockheed Martin. The company's shares gained 1.1% to trade at $445.93 on Wednesday.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 3:08 pm

AAPL

MSFT

Apple Inc's MacBook shipments are expected to decline by approximately 30% Y/Y to about 17 million units in 2023, according to analyst Ming-Chi Kuo. The demand for the new 15-inch MacBook Air dropped significantly after the pandemic recovery and back-to-school period. Current challenges for the MacBook include declining remote work demand and the potential waning consumer appeal of Apple’s silicon and mini-LED. The significantly higher ASP of assembly and critical components for the MacBook versus Microsoft Corp Windows notebooks substantially impacts the revenues and profits of key MacBook suppliers.

Portfolio Pulse from Anusuya Lahiri

October 18, 2023 | 3:07 pm