Streetbeat News

Stock Prices

IOVA

Iovance Biotherapeutics Inc (NASDAQ:IOVA) shares surged following FDA approval for WuXi Advanced Therapies to begin analytical testing and manufacturing of AMTAGVI for Iovance at its Philadelphia site. This marks a significant step in commercial manufacturing of individualized T cell therapy for solid tumor cancer. Additionally, Iovance announced a stock offering of 23,014,000 shares at $9.15 each, aiming to raise approximately $211 million to support AMTAGVI's commercial launch and ongoing clinical programs. Chardan Capital raised IOVA's price target from $29 to $34.

Portfolio Pulse from Adam Eckert

February 20, 2024 | 1:54 pm

AZN

AstraZeneca Plc's Tagrisso, in combination with chemotherapy, received FDA approval for treating certain lung cancers, showing significant improvement in patient outcomes. Additionally, AstraZeneca and Daiichi Sankyo's marketing application for datopotamab deruxtecan was accepted by the FDA for treating nonsquamous NSCLC, demonstrating a significant improvement in progression-free survival.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 1:54 pm

Home Depot's stock is trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:53 pm

COF

Capital One Financial's stock is trading lower following the announcement of its plans to acquire Discover. This move indicates a significant expansion in Capital One's credit card and loan portfolios, potentially reshaping the competitive landscape in the financial services sector.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:51 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is focusing on expanding its international e-commerce business, which saw a 44% revenue increase to $4 billion in the December quarter, contrasting with a modest 2% growth in its core businesses, Taobao and Tmall Group. CEO Eddie Wu, succeeding Daniel Zhang, aims to invest in user experiences, public cloud products, and international commerce growth. Alibaba faces competition from PDD Holdings Inc (NASDAQ:PDD) and others. Despite challenges, Alibaba's stock rose close to 3% last week, with notable investments from figures like Michael Burry and institutions such as Renaissance Technologies.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 1:50 pm

CNP

CenterPoint Energy, Inc. (CNP) reported Q4 adjusted earnings per share of 32 cents, aligning with expectations and marking a 14% year-over-year increase. This growth was driven by regulatory recovery and a one-time tax benefit. Additionally, CNP announced the sale of its Louisiana and Mississippi natural gas operations to Bernhard Capital Partners for $1.2 billion, representing less than 4% of its rate base. The sale will fund a $1 billion boost to its capital plan, now totaling $44.5 billion through 2030. CNP reaffirmed its 2024 EPS guidance, indicating an 8% growth.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 1:49 pm

AMRC

Ameresco, Inc. (NYSE:AMRC) has announced the commencement of operations at its 5.2 MWe renewable natural gas (RNG) plant at Republic Services' Brickyard Landfill in Danville, Illinois. The facility is designed to reduce over 27,000 tons of carbon dioxide emissions annually by converting landfill gas into pipeline-grade RNG, which can be used as a low-carbon transportation fuel. This project aligns with Republic Services' sustainability goals and represents Ameresco's 12th renewable energy project with Republic, with another 10 in various stages of development. The initiative underscores both companies' commitment to decarbonization and sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:44 pm

ADCT

ALK

BALL

DKNG

GWW

HPP

IOVA

JBLU

LUV

SNPS

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, including notable changes for Iovance Biotherapeutics, Southwest Airlines, Ball Corporation, Alaska Air Group, W.W. Grainger, DraftKings, ADC Therapeutics, Hudson Pacific Properties, JetBlue Airways, and Synopsys. These adjustments reflect analysts' latest views on these companies' stock performance potential.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 1:38 pm

NVNO

enVVeno Medical announced it will present topline efficacy data from its VenoValve trial at the 2024 American Venous Forum Annual Meeting on March 6. This event is significant for investors as it could influence the company's stock performance based on the trial results.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:37 pm

LCAA

LOT

Lotus Technology Inc. (Lotus Tech), a leading luxury electric vehicle maker, and L Catterton Asia Acquisition Corp (LCAA) announced the closing of their business combination, with Lotus Tech's ADS to start trading on Nasdaq under 'LOT' on February 23, 2024. The merger was approved by LCAA shareholders, and Lotus Tech aims to become a fully electric luxury mobility provider by 2027. The company has raised over $880 million in financing related to this transaction, marking a significant step in its growth and transition to electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:36 pm