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Nano Labs' shares were halted due to a circuit breaker triggered by a significant downside movement, despite the stock being up 204%.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:18 pm

RNLX

Shares of Renalytix (RNLX) were halted on a circuit breaker due to a significant upside movement, with the stock now up 435.3%.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:17 pm

TAK

The FDA has approved Takeda Pharmaceutical Co Ltd's Eohilia, the first oral treatment for eosinophilic esophagitis (EoE) for patients aged 11 and older. Eohilia demonstrated significant efficacy in achieving histologic remission and improving swallowing difficulties in two studies compared to placebo. It will be available in 2 mg/10 mL single-dose stick packs by the end of February. Takeda's shares saw a slight increase of 0.25% to $14.27 following the announcement.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 5:17 pm

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Nano Labs shares experienced a significant surge, leading to a trading halt due to a circuit breaker trigger. The stock is currently up by 280%.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:12 pm

NA

Trading of Nano Labs shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:11 pm

GOLD

IVPAF

The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.

Portfolio Pulse from Matt Whittaker

February 12, 2024 | 5:09 pm

AMZN

MSFT

NVDA

Microsoft's Azure is rapidly closing the gap with Amazon's AWS, growing from half to three-quarters the size of AWS in five years. Analysts predict Azure's revenue could reach $95 billion in two years, potentially shifting investor optimism towards Microsoft's cloud segments. Microsoft now boasts 53,000 Azure AI customers, leveraging its early lead in AI. In response, AWS has expanded its offerings, including partnerships with Anthropic and a focus on Nvidia chips for compute instances. Microsoft's cloud infrastructure now accounts for 29% of its revenue and 46% of its total operating income, with significant improvements in gross margin.

Portfolio Pulse from Anusuya Lahiri

February 12, 2024 | 5:08 pm

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Nano Labs shares experienced a significant surge, leading to a trading halt due to a circuit breaker trigger. The stock is currently up by 207.2%.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:07 pm

NA

Trading of Nano Labs shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 5:05 pm

HPE

Hewlett Packard Enterprise Co (NYSE:HPE) reported over $4 billion in losses from its acquisition of British software firm Autonomy, attributing the loss to fraud by Autonomy's co-founder Mike Lynch. HP is seeking to recoup losses through a lawsuit against Lynch and Autonomy's former CFO, Sushovan Hussain. Despite the substantial loss, HP's strategic rationale for the acquisition was partly due to Autonomy's unique technology. HP acquired Autonomy for $11.1 billion in 2011 and wrote down its value by $8.8 billion within a year. Following a lengthy civil trial, HP substantially won its case in 2022, though damages are expected to be less than the $5 billion claimed.

Portfolio Pulse from Lekha Gupta

February 12, 2024 | 5:04 pm