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AMGN

MRK

The FDA has issued its strictest warning for Amgen Inc's osteoporosis drug Prolia, highlighting the risk of severe low calcium levels in patients with advanced chronic kidney disease. Prolia, a significant revenue generator with $986 million in Q3 sales, now faces market challenges as it approaches US patent expiration in February next year. The warning follows a review of 25 cases from 2010 to 2021. Competing drugs from Merck & Co and Amgen's own portfolio also carry safety warnings for patients with kidney disease.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 6:29 pm

AREN

Trading in shares of The Arena Group Holdings has resumed after being temporarily halted.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:25 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) showcased its 2024 Xbox Developer Direct, revealing key game announcements including the release date for Hellblade 2 and a first look at Indiana Jones and the Great Circle. Unlike last year, there were no surprise game launches during the event. Other highlights included a preview of Obsidian Entertainment's Avowed, Square Enix's Visions of Mana, and Oxide Games' Ara: History Untold. These games are set to release in 2024, with Hellblade 2 launching on May 21, 2024.

Portfolio Pulse from Franca Quarneti

January 19, 2024 | 6:24 pm

LLY

TEVA

Eli Lilly And Co (NYSE:LLY) is under FDA scrutiny due to manufacturing issues at its Branchburg, New Jersey plant. The FDA found eight deficiencies during a July inspection, which could affect the production of drugs like Emgality, Trulicity, Erbitux, and Cyramza. Eli Lilly has addressed some issues on-site and is working on ongoing improvements. The Branchburg facility is also under a DOJ investigation for past manufacturing and data falsification issues. In a separate legal matter, a $176.5 million verdict against Eli Lilly for patent infringement in favor of Teva Pharmaceutical (NYSE:TEVA) was overturned.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 6:21 pm

DTSS

Datasea Inc. shares have declined following the announcement of a 1-for-15 reverse stock split. This corporate action typically indicates an attempt to boost the share price to meet exchange listing requirements or to attract new investors by making the stock appear more valuable.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:19 pm

SPY

The S&P 500 index has reached a new intraday record high, indicating a strong performance of the U.S. stock market. This milestone reflects investor confidence and optimism about economic growth and corporate earnings.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:17 pm

NVNI

Nvni Group (NYSE:NVNI) has seen a significant decrease in short interest, with a current short percent of float at 0.04%, down 84% from the last report. The short interest now stands at 3 thousand shares, and based on trading volume, it would take about 1 day to cover all short positions. This decline in short interest may indicate a more bullish sentiment towards NVNI among traders, although it does not necessarily predict a near-term rise in stock price. NVNI's short interest is also lower than its peer group average of 2.39%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 6:15 pm

KVUE

Kenvue (NYSE:KVUE) has seen a decrease in short interest, with the short percent of float dropping 5.48% since the last report. The company has 36.70 million shares sold short, representing 18.46% of available shares for trading. The average time to cover these short positions is 2.15 days. A decrease in short interest may indicate a more bullish sentiment among investors. Kenvue's short interest is significantly higher than its peer group average of 5.66%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 6:15 pm

TGTX

TG Therapeutics (NYSE:TGTX) has seen a decrease in short interest, with the short percent of float dropping 12.86% since the last report. The company has 31.83 million shares sold short, representing 25.88% of available shares. The average time to cover these short positions is 6.52 days. Short interest is a market sentiment indicator, and TG Therapeutics currently has a higher short interest than its peer group average of 15.13%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 6:15 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares have dropped over 35% in the past five days. Despite this, Bollinger Motors, part of Mullen, has received orders for 40 B4, Class 4 EV trucks, valued at approximately $6 million. The Bollinger B4 is an all-electric commercial truck expected to begin production in mid-2024 and may be eligible for federal incentives. Mullen delivered 35 vehicles in fiscal 2023 with a positive gross margin and invoiced $9.2 million to Randy Marion Automotive Group. MULN shares are currently down 11.6% to $7.94.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 6:14 pm