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BABA

JD

Alibaba Group Holding Limited (NYSE:BABA) continues to attract investor interest despite reports of a possible contraction in Chinese manufacturing. Alibaba's grocery unit Freshippo is expanding its physical stores in China and preparing to spin off and go public. Meanwhile, Alibaba's rival, Shein, has confidentially filed for a U.S. listing. JD.Com, Inc (NASDAQ:JD) has set up a new business unit for its grocery business 7Fresh.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 12:46 pm

AUPH

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) is exploring strategic alternatives, including a potential sale, merger, or other strategic transaction. The company has retained JP Morgan as its financial advisor and Korn Ferry to assist in the search for two new directors following the resignations of George Milne and Joseph Hagan. MKT Capital Ltd, a shareholder with a 4.2% stake, has suggested a sale of the entire business could yield up to $28 per share.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:42 pm

ABBV

BHC

BLCO

NVS

Bausch + Lomb Corporation (NYSE:BLCO) has agreed to acquire 'front of eye' ophthalmology assets from Novartis AG (NYSE:NVS) for $1.75 billion in upfront cash, plus additional milestone payments. The deal includes Xiidra, an eye drop for dry eye symptoms, and other assets. The acquisition is expected to bolster Bausch's stake in the profitable and expanding dry-eye market. The company forecasts total FY23 sales of $3.9-$3.95 billion. Bausch is being spun out of a larger healthcare firm, Bausch Health Companies Inc (NYSE: BHC).

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:40 pm

ICE

The New York Stock Exchange (NYSE) reported strong momentum in the first half of 2023, with 12 transfers bringing nearly $100 billion in new market capitalization. NYSE also hosted the year's largest IPO and led the industry in U.S. proceeds. It is home to 8 of the 10 largest transactions and hosted key U.S. officials including House Speaker Kevin McCarthy and Commerce Secretary Gina Raimondo.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:36 pm

STZ

Constellation Brands reported its Q1 financial results and issued guidance, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:36 pm

LUV

Southwest Airlines Co.'s pilots' union is reportedly moving closer to a possible strike. The union has filed a request with the National Mediation Board to be officially released from mediation, stating that talks began more than three years ago and several critical problems remain unsolved. In May, Southwest pilots overwhelmingly authorized union leaders to call for a strike if the National Mediation Board approves it. LUV shares are trading higher by 0.64% at $36.18 premarket on Friday.

Portfolio Pulse from Akanksha Bakshi

June 30, 2023 | 12:34 pm

UNCY

Unicycive Therapeutics Inc (NASDAQ:UNCY) shares are trading lower after the company provided an update on its New Drug Application (NDA) for lanthanum dioxycarbonate (LDC), a drug being developed for hyperphosphatemia in chronic kidney disease patients on dialysis. The FDA has requested additional information, including risk assessment and clinical data, to evaluate the tolerability of LDC in patients. The company's shares are down 24.20% in premarket trading.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:33 pm

SPY

The PCE Price Index for May has been corrected to 3.8% YoY, lower than the previously reported 4.6%.

Portfolio Pulse from Bill Haddad

June 30, 2023 | 12:32 pm

SPY

The USA Core PCE Price Index for May came in at 0.3%, in line with estimates, but lower than the previous month's 0.4%.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:31 pm

CTMX

CytomX Therapeutics has announced a $30 million private placement from BVF Partners L.P., leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:31 pm