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IOBT

IO Biotech, Inc. (NASDAQ:IOBT) has announced a private placement financing deal expected to generate approximately $75 million in gross proceeds. The deal involves the sale of 37,065,647 shares of common stock and accompanying warrants at a price of $2.025 per unit. The proceeds will extend the company's cash runway into Q4 2025. Morgan Stanley and Piper Sandler acted as joint placement agents for the financing.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:33 pm

MGA

Magna International Inc (NYSE:MGA) reported better-than-expected Q2 FY23 results and raised its FY23 revenue guidance above estimates. Despite this, Magna shares fell 3.4% to close at $60.90 on Friday. Post earnings, Wells Fargo and BMO Capital raised their price targets on Magna.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 12:32 pm

BABA

SYK

WYNN

On CNBC's 'Halftime Report Final Trades', Alibaba Group Holding Limited (BABA), Stryker Corporation (SYK), and Wynn Resorts, Limited (WYNN) were named as final trades. Alibaba showcased two large language models based on its pre-trained model framework. Stryker reported Q2 sales of $5 billion, beating the consensus of $4.83 billion. Wynn Resorts is scheduled to release earnings this week. Wynn Resorts shares fell 1.4%, Stryker shares rose 2.9%, and Alibaba shares fell 0.7% on Friday.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 12:32 pm

NNDM

Nano Dimension Ltd. (NASDAQ:NNDM) has announced that its board of directors has authorized a share repurchase plan, allowing the company to invest up to $227.5 million to repurchase its American Depository Shares (ADS). The repurchase plan is subject to the approval of the Israeli court and may be suspended or terminated at any time at management's discretion.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:29 pm

BABA

META

Alibaba's stock is trading higher following the launch of its open-source large language models, intensifying competition with Meta Platforms. The market is gauging the impact of growth-boosting measures on China's economy. Ant Group, an affiliate of Alibaba, is preparing to offload a chunk of its Paytm shares amid escalating geopolitical tensions between India and China. Paytm founder Vijay Shekhar Sharma will acquire a 10.3% stake from Ant Group, making him the company's biggest shareholder.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 12:29 pm

YELL

Trucking company Yellow Corp (NASDAQ:YELL) has filed for Chapter 11 bankruptcy and is closing its business. The company is grappling with over $1 billion in debt due next year and its cash reserves have dropped significantly. Yellow Corp has also filed a lawsuit against the International Brotherhood of Teamsters (IBT) citing breach of contract and loss of enterprise value. The company's shares are trading lower by 42.5% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

August 07, 2023 | 12:25 pm

BNTX

BioNTech's Q2 earnings per share (EPS) and sales results have decreased year-over-year, leading to a drop in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:23 pm

RMD

ResMed shares are trading higher, possibly rebounding after the stock dipped last week due to worse-than-expected Q4 adjusted EPS results.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:22 pm

TSN

Tyson Foods reported worse-than-expected Q3 financial results, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:20 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares have seen a significant rise over the past five years, despite a period of uncertainty when CEO Elon Musk faced a liquidity crisis and potential bankruptcy ahead of the Model 3 launch. Musk's infamous 'funding secured' tweet led to a temporary stock plunge and legal issues, but the stock recovered and continued to surge as the company's fundamentals improved. A $1,000 investment in Tesla on August 7, 2018, would be worth about $10,034 today, a return of 1,003% over a five-year period.

Portfolio Pulse from Shanthi Rexaline

August 07, 2023 | 12:18 pm