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TME

Tencent Music Entertainment Group (NYSE:TME) shares are trading lower on Thursday after announcing a strategic partnership with Galaxy Corporation for G-Dragon's regional tour. This collaboration aims to enhance TME's global presence. TME shares are down 1.90% premarket.

Portfolio Pulse from Lekha Gupta

October 17, 2024 | 11:56 am

LCID

Lucid Group has announced an underwritten offering of 262,446,931 shares, with a corresponding investment by a PIF affiliate, aiming to raise approximately $1.67 billion in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:53 am

META

QQQ

SPY

Meta Platforms Inc. has initiated layoffs in departments like WhatsApp, Instagram, and Reality Labs as part of internal reorganizations. These layoffs are smaller and department-specific, aligning with Meta's long-term strategy. Despite the layoffs, Meta's stock has gained over 78% in the last 12 months, and the company continues to focus on AI and hardware product development.

Portfolio Pulse from Anusuya Lahiri

October 17, 2024 | 11:52 am

ZVSA

Zyversa Therapeutics' CEO Stephen Glover has issued a letter to shareholders detailing the company's development plans for its inflammasome ASC inhibitor, IC 100, targeting obesity. The letter outlines anticipated milestones over the next nine months.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:52 am

ZVSA

ZyVersa Therapeutics shares rose following a letter from the CEO to shareholders, detailing obesity development plans for their Inflammasome ASC Inhibitor IC 100.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:51 am

NOK

T

VZ

Nokia reported a Q3 earnings miss with an 8% decline in net sales, primarily due to weakness in the Indian market. Despite this, Nokia's net income increased, and the company expects growth in Q4, particularly in Network Infrastructure. Nokia's stock fell 5.16% premarket.

Portfolio Pulse from Anusuya Lahiri

October 17, 2024 | 11:51 am

TSM

TSMC's stock surged 8% in premarket trading, driven by strong revenue and earnings growth, positioning it to potentially surpass a $1 trillion market cap. The company's revenue and earnings exceeded expectations due to high demand for advanced chips.

Portfolio Pulse from Shanthi Rexaline

October 17, 2024 | 11:49 am

AVXL

Anavex Life Sciences has announced preliminary results from the Part A of its ongoing placebo-controlled Phase 2 study of Anavex3-71 for schizophrenia, focusing on electroencephalography biomarkers.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:43 am

BDRX

Biodexa Pharmaceuticals has released promising patient updates from the ongoing MAGIC-1 study of MTX110 in recurrent glioblastoma. The Phase 1 study shows MTX110 outperforming historical norms in progression-free and overall survival.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:39 am

MAN

ManpowerGroup has announced its expected Q4 EPS to be between $0.98 and $1.08, which is below the estimated $1.30. This guidance includes a minor unfavorable currency impact but excludes restructuring costs and Argentina-related non-cash currency translation losses.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:36 am