Alibaba Health Info Tech Stock (OTC: ALBHF)

Alibaba Health Info Tech (OTC:ALBHF) Stock, Quote.Headers.trade-ideas

Alibaba Health is of one of China's leading e-commerce platform specializing in healthcare-related products, including prescription drugs, OTC drugs, traditional Chinese medicine, health foods, and so on. The company operates both a third-party B2C service, or 3P, and its own direct-to-consumer business, or 1P, with its own inventory, which can both be accessed by Alibaba's Tmall app and Alipay. The company also provides online consultation services in a separate app called Yilu or "Dr. Deer", although its e-commerce businesses remain its core competency in the long-term. E-commerce accounted for 97% of revenue in fiscal year 2022. We estimate that AliHealth holds about 45% of market share in the industry in terms of GMV. AliHealth is 63.74% owned by its parent company, Alibaba Group.

Penny Stocks

ALBHF

MPNGY

Key Takeaways:


	Dingdang Health has passed a listing hearing in its second try at a Hong Kong IPO, aiming to raise $100 million
	The company has shifted from its original asset-light to a more asset-intensive model to make good on its promise of faster deliveries


By Emily Chan

Catching Listing Chill, Dingdang Health Slashes Hong Kong IPO

Fintech news covering the emerging Financial Technology services sector

Fintech

JDHIF

PANHF

Key takeaways:


	111’s revenue grew 87% in second quarter, generally outpacing its peers, as it aims to more than double its fulfillment capacity this year
	Company’s shares now trade around $6.50, well off a $23 high reached in February, as investors worry about regulatory wave for broader tech sector


By Mia Shanley

Solid Earnings, Modest Buyback Fail to Boost Drug Seller 111 Inc.

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CASBF

CanSino Biologics Inc. (OTC: CASBF), a Chinese vaccine maker, has emerged as the rising star of the Hong Kong market, after its COVID-19 clinical trial application was approved by Health Canada, the country&#39;s federal health policy department.

CanSino Biologics Shares Rose 380%  As COVID-19 Vaccine Promise Emerges

ALIBABA HEALTH INFO TECH by Alibaba Health Information Technology Ltd

Alibaba Health Information Technology Ltd

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Forthofix.com%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=Orthofix+Medical+Inc&amp;index=1&amp;md5=f980520f95bd1a9234c20487cdf8b284">Orthofix Medical Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OFIX#NASDAQ">OFIX</a>), a leading global medical technology company, today announced the presentation of new data supporting the use of Orthofix's proprietary Pulsed Electromagnetic Field (PEMF) stimulation to increase fusion rates as an adjunct to lumbar spine fusion surgery. Patients treated with the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fbonegrowththerapy.com%2Ftherapies%2Fspinal-fusion%2Fspinalstim-lumbar-fusion%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=SpinalStim&amp;index=2&amp;md5=c26f0cc0fb348022b3ce0b675596e790">SpinalStim</a>&#x2122; bone growth therapy device demonstrated a high rate of successful fusion with significant improvements in pain, function and quality of life, despite having risk factors for pseudarthrosis.
The abstract will be presented by Dr. Marc Weinstein, an orthopedic spine surgeon at the Florida Orthopaedic Institute in Tampa, Florida, at the North American Spine Society (NASS) Annual Meeting in Chicago, IL, on September 25, during the Research and Innovation Showcase in the McCormick Place West Lobby of the McCormick Convention Center.
During the NASS annual meeting, Orthofix is also highlighting a variety of new products including the full market launch of OsteoStrand&#x2122; Plus C. A 100% bone-derived graft, OsteoStrand Plus C is comprised of Demineralized Bone Matrix (DBM) fibers and Accell&#x2122; Bone Matrix, a dispersed form of DBM that provides immediate release of growth factors upon implantation and increases the concentration of growth factors in the product, and cancellous chips. Used as a bone graft material in fusion applications, the OsteoStrand Plus C features improved graft packability relative to non-chip containing options – for a denser fill and to ensure minimal graft displacement. Additionally, Orthofix is announcing the launch of the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fm6disc.com%2F&amp;esheet=54125379&amp;newsitemid=20240923211580&amp;lan=en-US&amp;anchor=M6-C&amp;index=3&amp;md5=0f2300dfde3b2d3c8390c084ccf90edc">M6-C</a>&#x2122; Single-Use, Disposable Instrumentation sets, the first FDA-cleared, single-use, disposable instruments designed specifically for cervical disc arthroplasty.

OFIX

Orthofix Unveils New Spinal Fusion Products and Data, Highlighting Innovation at NASS Annual Meeting

Alibaba Group Holding&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) cloud computing services unit tapped&nbsp;Nvidia&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to boost the&nbsp;autonomous driving&nbsp;experience for Chinese smart vehicle owners like Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>),&nbsp;Great Wall Motor Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GWLLY#OTC">GWLLY</a>),&nbsp;Geely Auto&#8217;s&nbsp;ZEEKR Intelligent Technology Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>)&nbsp;and the EV unit of&nbsp;Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>).
China is currently grappling with U.S. advanced semiconductor sanctions, which have restricted its access to Nvidia and other chipmakers&#8217; sophisticated artificial intelligence chips.
The U.S. chip companies opposed the U.S. move, citing the importance of China as a key semiconductor market. Alibaba has also voiced how the embargo has affected its AI endeavors.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/40923879/chinas-ymtc-makes-strides-in-chip-production-substitutes-asml-lam-research-tech-as-us-sanctions-bite" rel="noreferrer noopener">China&#8217;s YMTC Makes Strides in Chip Production; Substitutes ASML, Lam Research Tech As US Sanctions Bite: Report</a>
Alibaba Cloud showcased a large multimodal model (LMM) solution for automotive applications that it co-developed with its intelligent cockpit solution provider Banma Network Technology and Nvidia at the&nbsp;Apsara Conference, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3279428/alibaba-nvidia-collaborate-advanced-autonomous-driving-solution-computing-services" rel="noreferrer noopener">reports</a>.
Alibaba Cloud integrated Qwen&#8217;s portfolio of proprietary large language models (LLMs) with Nvidia&#8217;s Drive AGX Orin platform for autonomous vehicles. The new LMM solution will enable in-car voice assistants to offer recommendations, and execute voice commands SCMP cites Alibaba Cloud.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17.png" alt="" class="wp-image-560553" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23042244/newplot-17-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Nvidia and Alibaba Cloud look to Qwen LLMs to Nvidia&#8217;s Drive Thor, a centralized car computing platform.
Last week, Alibaba kicked off its <a target="_blank" href="https://www.benzinga.com/government/24/09/40936014/whats-going-on-with-chinese-tech-stocks-like-alibaba-pdd-on-thursday" rel="noreferrer noopener">Aspara Conference 2024</a>, showcasing 100 open-source AI models catering to applications and sectors ranging from automobiles to gaming and science research.
Chinese e-commerce juggernaut Alibaba Group Holding&#8217;s stock has risen over 1% in the last 12 months as the weak domestic economy and geopolitical tensions bite.
Investors can gain exposure to the stock through the Invesco Golden Dragon China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and the Trust for Professional Managers ActivePassive International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APIE#NYSE">APIE</a>).
Price Actions: BABA stock is up 0.85% at $89.04 premarket at last check Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40918150/alibaba-strikes-5-year-cloud-deal-with-indonesias-goto-delays-stake-divestment" target="_blank" rel="noreferrer noopener">Alibaba Strikes 5-Year Cloud Deal with Indonesia&#8217;s GoTo, Delays Stake Divestment</a></li>
</ul>
Photo by Fooksou Lamimo via Wikimedia Commons

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PowerShares Golden Dragon Halter USX China Portfolio

XIACY

Alibaba Teams Up With Nvidia to Supercharge EVs for Chinese Automakers: Report

RBC Capital analyst Gregory Renza initiates coverage on CG Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGON#NASDAQ">CGON</a>) with a Outperform rating and announces Price Target of $66.

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CGON

RBC Capital Initiates Coverage On CG Oncology with Outperform Rating, Announces Price Target of $66

<a href="https://www.globenewswire.com/Tracker?data=fTnauvHXrBinpqMkcNrU2jXyFxKpy_arXJzy_b5ASWO6l7AzfHZmmBhfNJU82qOIF0IRqYDITjpbTjTmYaz8lg==">uniQure</a> N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QURE#NASDAQ">QURE</a>), a leading gene therapy company advancing transformative therapies for patients with severe medical needs, today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to AMT-191, uniQure's investigational gene therapy for the treatment of Fabry disease, a rare, inherited genetic disease. In August 2024, uniQure announced the dosing of the first patient in its U.S., multi-center, open-label Phase I/IIa trial of AMT-191.
"This important designation highlights the need for new gene therapies like AMT-191 for patients with Fabry disease with the potential of delivering meaningful benefit given the suboptimal effectiveness of current chronic treatments," stated <a href="https://www.globenewswire.com/Tracker?data=XJHujD0zFsqCKj2AQYLx5YZE0M2jd1UjijpyNswg3uU3SriFCvwWI96vkEi8AA3le2sz_K36hMQhw9mjNc65v089QNwHSlUPjRhS5ybbM0ZoWv13dGsruJHJU5iG2D1r51IROOb0I1SREI2dhF2Cck4rSdmcC2GyFO4ZLtacqF9PhX4xHMVg625XkJYrftYl">Walid Abi-Saab, M.D., chief medical officer of uniQure</a>. "This designation supports our Phase I/IIa clinical trial and we look forward to rapidly generating clinical proof-of-concept data and providing initial data in 2025."
In patients with Fabry disease, a pathogenic variant in the galactosidase alpha (GLA) gene leads to α-galactosidase A (aGAL-A) enzyme deficiency, which in turn results in a progressive accumulation of lipids in multiple cell types, including kidney and heart cells, eventually resulting in a multi-system disorder. AMT-191 is a one-time intravenously administered investigational AAV5-based gene therapy that uses a proprietary, highly potent promoter to deliver a GLA transgene designed to target the liver to produce GLA protein.
The Phase I/IIa clinical trial of AMT-191 will be conducted in the United States. The multicenter, open-label trial consists of two cohorts with up to six adult male patients each: a low-dose cohort of 6x1013 gc/kg and a high-dose cohort of 3x1014 gc/kg delivered through a one-time intravenous infusion. Patients will continue to receive their regular enzyme replacement therapy until the criteria for withdrawal is met and will be followed for a period of 24 months. The trial will explore the safety, tolerability, and early signs of efficacy by measuring the expression of lysosomal enzyme aGLA-A. Additional details are available on <a href="https://www.globenewswire.com/Tracker?data=7KolP2h89egUHI8jH_Zo5bdDQZFzZM_38LjWTPDf3Kdw9gSQKRHs9DeKDUPU-daOSt9uPtk10WEjZA6W4qStkajilCQxvaD3HJzRrulXR-o=">www.clinicaltrials.gov</a> (NCT06270316).
The FDA's Orphan Drug Designation provides a special status for investigational drugs being developed for rare diseases considered to affect only up to 200,000 people in the United States. Orphan drug status provides certain incentives, including tax credits, grants and waiver of certain administrative fees for clinical trials as well as seven years of market exclusivity in the United States following drug approval.

QURE

FDA Grants Orphan Drug Status to uniQure's AMT-191, Aiming to Treat Fabry Disease

Biotech

Stock Split

ORGS

Orgenesis Approves A 1-for-10 Reverse Stock Split Effective At 5:00 Pm Eastern Time On September 24

MIND Technology, Inc. ("MIND" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIND#NASDAQ">MIND</a>) announced today that its Seamap unit has received an order for a GunLink source controller amounting to approximately $5.1 million.&nbsp; Subsequent to July 31, 2024, the Company has received orders totaling approximately $7.9 million.
Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "We are seeing strong demand for our GunLink source controllers. These most recent orders indicate the continuing demand across our family of source controller products. We expect to deliver a portion of these orders in this fiscal year; however, the majority will be delivered in our next fiscal year.&nbsp; In addition to the orders that we have in hand, we are pursuing a number of significant opportunities that we expect to bring to fruition in the coming weeks and months. We think our continuing backlog and pipeline of business bodes well for the balance of this fiscal year and next year as well."

MIND

MIND Technology's Seamap Unit Secures $5.1M GunLink Order, Expands Total to $7.9M

SKYE

Skye Bioscience Comments Regarding A Recent Announcement By Novo Nordisk On Phase 2a Topline Data With Monlunabant And, Reiterates Confidence In Its Nimacimab Clinical Development Plan, Says 16-week Top-line Weight Loss Data Validates Mechanism Of Action Targeting Peripheral CB1 Receptors

Federal Reserve

Minneapolis Fed President Kashkari Said Balance Of Risks Have Shifted Toward Risk Of Further Labor Market Weakening, Higher Unemployment; 50 BPS Rate Cut Was Right Decision, Reflects Progress On Inflation, Softening Of Labor Market

Invivyd, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVVD#NASDAQ">IVVD</a>), a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, today provided detailed virology data supporting previously communicated neutralization activity results, along with a genetic and structural analysis of past and present SARS-CoV-2 variant spike proteins, including the established molecular target of pemivibart.
As part of Invivyd's ongoing monitoring of antiviral activity, Invivyd contracts with LabCorp's Monogram Biosciences lab to provide independent, robust virology assessments in a consistent lineal chain that allows for consideration of potential changing pemivibart potency as SARS-CoV-2 evolves. Pemivibart potency against contemporary viruses KP.3.1.1 and LB.1 remains in-line with the totality of predominant variants dating back to 2022, including isolates identified during the conduct of the CANOPY Phase 3 clinical trial from late 2023 to early 2024. Data Table 1, below, provides relevant comparative values drawn from the PEMGARDA Healthcare Providers Fact Sheet.
"Quantitative neutralization assays exhibit marked intrinsic variability. Since discovery, pemivibart has exhibited impressively stable neutralization results across a wide range of SARS-CoV-2 variants, including and through contemporary variants tested," said Robert Allen, Ph.D., Chief Scientific Officer of Invivyd. "The values we observe thus far generally fall within the expected variability of the assay systems we employ."&nbsp;&nbsp;
Invivyd also provided an update to ongoing structural analysis showing no meaningful mutational change in the pemivibart binding site since the Omicron shift late in 2021. These data are presented in Figure 1 below. The pemivibart binding site is defined as a region of amino acid residues on the spike protein within 5 angstroms (5 Å) of the interaction between pemivibart and spike protein in a crystal structure and consists of 19 key amino acids. Invivyd's ongoing genetic and structural analyses of these residues provide the underlying biological rationale for the company's ongoing expectation for neutralization activity of pemivibart in the face of constant and convergent mutation in the SARS-CoV-2 spike protein. Analysis to date of all 19 amino acids presented below shows de minimis mutational change with ongoing stability to the binding site since the Omicron shift.
"To stay ahead of the curve, it is necessary to integrate data across multiple sources, including clinical and wastewater surveillance, as well as functional genomics. Invivyd's work over the last few years has achieved exactly that," said Kristian Andersen, Ph.D., a professor in the Department of Immunology and Microbiology at Scripps Research and member of Invivyd's scientific advisory board. "Continued surveillance of SARS-CoV-2 evolution is critically important to ensure that we can effectively counter the threat posed by the virus."

IVVD

Invivyd Shares New Data on Pemivibart's Neutralization of COVID Variants, Details Virus Evolution

U.S. index futures are modestly higher at the start of a new week as the rate cut euphoria fades and traders look ahead to the next key catalysts. The tech space could get a lift from <a href="https://www.benzinga.com/news/24/09/40975507/intels-stock-gains-in-pre-market-trading-following-reports-of-qualcomms-and-apollos-investment-offer">a potential lifeline for struggling Intel Corp.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and traders may also look ahead to Micron Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report due later this week. FedEx Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) annual shareholder meeting and conference presentations by companies could also be on traders&#8217; radar.
A few Fed speeches and private sector activity data due on Monday will also be of interest to the market, which has had an atypically strong September. China followed up with more cuts on Monday as the country strives to bring the struggling economy back on track.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.06%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.32%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.15% to $569.09 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.27% to $483.06, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
U.S. stocks recorded gains for the second straight week as the Fed&#8217;s 50 basis-point cut set the market on fire, although a session after the announcement. After a mixed start to the week, positive retail sales generated buying interest in the market on Tuesday. Sentiment soured on Wednesday despite the initial positive reaction to the rate cut and the major indices closed lower. 
Traders reacted with a lag to the rate cut, sending averages sharply higher on Thursday. The S&amp;P 500 Index and the Dow Jones Industrial Average scaled record highs in the session. Caution returned on Friday as the market closed the triple-witching session on a mixed note. The Dow built on its gains on Friday and ended at a new high.
&#8220;This might be a September rally to remember on Wall Street, as history is not on the side of September delivering many market rallies,&#8221; said fund manager Louis Navellier.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Weekly Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.50%</td>
<td>17,948.32</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.36%</td>
<td>5,702.55</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.62%</td>
<td>42,063.36</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.08%</td>
<td>2,227.89</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The atypical September rally points to more gains ahead before the year ends, says Carson Group&#8217;s Chief Market Strategist Ryan Detrick. A new high for the S&amp;P 500 Index in September has meant an even better fourth quarter in the past, he said. The market has risen 19 out of 21 times and the average gain is nearly 5%, he said. If the new high was made in September, which also happens to be an election year, the fourth quarter is higher 100% of the time with an average gain of 6%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When the S&amp;P 500 makes a new high in September (like &#39;24) it appears Q4 does even better. In fact, higher 19 out of 21 times (90.4%) and up nearly 5% on avg. New highs in Sept of election year? Q4 higher 6 out of 6 and up nearly 6% on avg.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1837903370494820836?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
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The S&amp;P 500 Index, which closed Friday&#8217;s session, just shy of an all-time high, is now above year-end price predictions of 70% of Wall Street analysts. This has rendered S&amp;P valuation slightly higher than the average number for the past five and past 10 years, FactSet data showed.
JPMorgan Global Investment Strategist&nbsp;Sarah Stillpass&nbsp;said in a report the September rate cut could bode well for equities. Since 1980, five of the 10 best years for the S&amp;P 500 happened when the Fed was cutting rates without a recession, she said. She also noted that the Fed has cut rates 12 times when the S&amp;P 500 was within 1% of its all-time high such as the current year. The market was higher one year later all 12 times, with a median return of 15%, she added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
A slew of Fed speeches and the core personal consumption expenditure index, which is part of the personal income and spending report, are the key data the market will likely look forward to in the unfolding week. Traders may also keep a close eye on the weekly jobless claims data, flash private sector activity readings from S&amp;P Global, a consumer confidence reading, the August durables goods orders data and a couple of housing market readings.
On Monday, Atlanta Fed President Raphael Bostic is scheduled to speak at 8 a.m. EDT, followed by Chicago Fed President Austan Goolsbee at 10:15 a.m. EDT and Minneapolis Fed President Neel Kashkari&nbsp;at 1 p.m. EDT.
S&amp;P Global will release its flash manufacturing and service sector purchasing managers&#8217; indices for September at 9:45 a.m. EDT. Economists, on average, expect the manufacturing purchasing managers&#8217; index to rise from 47.9 in August to 48.4 in September, suggesting the sector continued to contract. The service sector PMI is widely expected to hold steady at 55.4 compared to August&#8217;s 55.7.
The Treasury will auction three- and six-month notes at 11:30 a.m. EDT.
Stocks In Focus:
<ul>
<li>Intel rose about 3% <a href="https://www.benzinga.com/premarket">in premarket trading</a> amid reports that Apollo Global Management seeks to invest $5 billion in the chipmaker in return for an equity stake in the company. Incidentally, Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) is rumored to be interested in buying Intel.</li>
<li>Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally is sending crypto-linked stocks higher on Monday.</li>
<li>Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell over 1.60% following a negative analyst action. The company will be added to the S&amp;P 500 Index, along with Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and Erie Indemnity Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIE#NASDAQ">ERIE</a>).</li>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) is due to <a href="https://www.benzinga.com/calendars/earnings">announce its quarterly results after the market closes.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures are modestly higher, with the latter trading near record territory. Bitcoin has gone past the $63.5K level. The 10-year Treasury note yield rose 1.1 points to 3.739%.
The Asian markets closed on a lackluster note, although the Japanese market remained closed for a public holiday. The People&#8217;s Bank of China announced a cut to its 14-day reverse repurchase rate, following up with the downward adjustments that began in July. Chinese central bank governor Pan Gongsheng will hold a press conference Tuesday on financial support for economic development, alongside two other officials, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-23/china-announces-another-rate-cut-as-growth-slowdown-worsens">reported.</a>
European stocks also showed tentativeness as domestic traders digested weak private sector activity data from the region.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40974885/s-p-500-outpaces-wall-street-projections-as-year-end-nears-will-the-rally-hold">S&amp;P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?</a></li>
</ul>
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QCOM

Wall Street Eyes Modestly Positive Start As Atypical September Rally Generates Positive Sentiment, China Cuts Rate: Intel, Palantir, Bitcoin Make Huge Moves

<ul>
<li>Riot has agreed to withdraw its June 24, 2024 requisition, as amended, and to accept customary standstill provisions through the Bitfarms 2026 Annual Meeting, with certain exceptions.</li>
<li>The Company has provided Riot with certain rights (subject to certain exceptions) to purchase shares of the Company provided Riot holds&nbsp;15%&nbsp;or more of the outstanding common shares of the Company.</li>
</ul>

Management

BITF

RIOT

Bitfarms, Riot Platforms Enter Settlement Agreement In Advance Of Special Meeting; Andrés Finkielsztain Has Stepped Down From Bitfarms' Board, Amy Freedman To Join Board

ALKS

Alkermes Announced Plans To Present Clinical Data From Its Phase 1B Study Of ALKS 2680 In Patients With Narcolepsy Type 2 And Idiopathic Hypersomnia At The European Sleep Research Society Congress, Sleep Europe 2024

MoffettNathanson analyst Michael Nathanson initiates coverage on Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) with a Neutral rating and announces Price Target of $100.

MoffettNathanson Initiates Coverage On Trade Desk with Neutral Rating, Announces Price Target of $100

<a href="https://www.globenewswire.com/Tracker?data=r4RuL-g8BiKVZqLRnMl8EGgAMp3MEvcuP1lhTYpiuoJgsZ1jahk_eeysIWLnQ1bAlIACdbq5BXPKTE0CscTH9fs6bHnXyXzwYWhIPkSFsL0=">Black Diamond Therapeutics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDTX#NASDAQ">BDTX</a>), a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer, today reported initial Phase 2 data demonstrating encouraging clinical responses and durability of BDTX-1535 in patients with relapsed/refractory epidermal growth factor receptor (EGFR)-mutant (EGFRm) non-small cell lung cancer (NSCLC).
"Patients often become resistant to osimertinib with the emergence of on-target resistance EGFR mutations," said Sergey Yurasov, M.D., Chief Medical Officer of Black Diamond Therapeutics. "Our preliminary Phase 2 data demonstrate the potential of BDTX-1535 to deliver durable responses for these patients."
"Patients with recurrent EGFRm NSCLC have few treatment options, with chemotherapy delivering limited benefit and significant toxicity, and initial Phase 2 data with BDTX-1535 look quite promising," said Danny Nguyen, M.D., <a href="https://www.globenewswire.com/Tracker?data=vlr3UZ7jREPq-nVuV_0_0C88uBRItoG_u2Pds2FLZhl6OdG7j4DTPUFysQY2y_LIjwyzqAqfOfpni53hE75snJRWUiN0k0RirbHBhXGxPKYSET-VNVVUwbCm2cnWyEzenhj0xWJvWFDh1oHU2wzxnXLBK7T4WBCokjmhe7dQL7lQDcWhMG63hpBMKrSRhrsiyEiYvQrw6wRSj8xyaeufaSI2us8FlQDhdtCYWaPgkus=">Assistant Clinical Professor, Department of Medical Oncology and Therapeutics Research at City of Hope</a>. "There is a significant unmet medical need for an effective and well-tolerated oral therapy for patients who progress on osimertinib, as well as newly diagnosed patients with non-classical mutations."
Phase 2 preliminary data overview:
The phase 2 trial began in August of 2023, and enrolled relapsed/refractory patients with non-classical EGFR mutations (NCMs) (Cohort 1) and those with C797S resistance mutations (Cohort 2). Safety assessment and dose selection were based upon the first 40 patients randomized to receive BDTX-1535 once daily at either 100 mg or 200 mg across both Cohorts. Preliminary response rate and durability were assessed in 27 patients at 200 mg with an August 17, 2024, data cutoff, including 22 response-evaluable patients who met protocol eligibility criteria.
Key takeaways:
<ul>
<li>200 mg daily selected for pivotal clinical development. Dose selection was based primarily on pharmacokinetics, safety and tolerability data from 20 patients at 100 mg, and 20 patients at 200 mg.</li>
<li>Favorable tolerability profile at 200 mg, consistent with prior BDTX-1535 clinical data. The majority of adverse events were mild or moderate, and no new safety signals were observed. The most common on-target treatment-related adverse events were rash (70%) and diarrhea (35%). There were 2 cases of grade 3 rash, and no reported cases of grade 4 rash or grade 3/4 diarrhea.</li>
<li>Preliminary objective response rate (ORR) of 42% achieved in 19 patients. For the 22 response-evaluable patients, the preliminary ORR was 36%. Nineteen of these 22 patients expressed known osimertinib resistance mutations: either C797S or P-loop alpha-C helix compressing (PACC, a major subset of NCMs). Of these 19 patients, 8 achieved a response (42%): 5 with a confirmed partial response (PR), including 1 patient who converted from a PR to an unconfirmed complete response (CR) at 8 months (and awaits confirmatory scan); and 3 with an unconfirmed PR at first scan and awaiting a confirmatory scan. An additional 9 patients experienced stable disease.</li>
<li>Encouraging durability observed, with duration of response (DOR) of approximately 8 months or more for first 3 patients with PR; 14 of 19 patients remain on therapy. Mean follow-up time is 4.7 months.</li>
</ul>
"We are pleased to see significant Phase 2 clinical activity and tolerability that are consistent with our Phase 1 results," said Mark Velleca, M.D., Ph.D., Chief Executive Officer of Black Diamond Therapeutics. "We believe that the activity observed in the recurrent setting can translate to robust clinical benefit in the first-line setting, and we look forward to sharing data from our trial in newly diagnosed patients in Q1 2025."
Black Diamond continues to enroll patients in the second- and third-line cohorts, as well as in the first-line setting for patients with non-classical EGFR mutations. In Q1 2025, the Company expects to disclose initial results from the first-line cohort and to outline potential registrational paths in the recurrent setting based on FDA feedback.

BDTX

Black Diamond Reports Phase 2 Results for BDTX-1535 in Lung Cancer, Targets FDA Approval Path

Lead investors, Delta Air Lines, Inc.,&nbsp;CK&nbsp;Wheels&nbsp;LLC, and Cox&nbsp;Investment Holdings,&nbsp;LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock&nbsp;issued under the Investment and Investor Rights Agreement, for an additional year, until September&nbsp;20,&nbsp;2025.
In addition, Kore Capital LLC and funds managed by Whitebox&nbsp;Advisors LLC, agreed to extend the lock-up restriction with respect to&nbsp;72.5%&nbsp;of their shares until September&nbsp;20,&nbsp;2025.

Wheels Up Says Approximately 97.2% Of Lead Investor Shares Will Remain Subject To The Lock-up Restriction Until September 20, 2025

AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>), the world's trusted infrastructure consulting firm, today announced its selection by the City of Austin as the prime consultant for the expansion of the Walnut Creek Wastewater Treatment Plant (WWTP) in Austin, Texas. The project aims to improve the aging structure's operational and environmental features by increasing the plant's capacity from 75 million gallons per day (MGD) to 100 MGD. As the population of Austin grows, the upgrades will bolster the resiliency of the community's wastewater infrastructure while safeguarding its surrounding ecosystem.
"As our industry's leading Water consulting firm, we look forward to continuing our long-standing partnership with the City of Austin to ensure the Walnut Creek Expansion delivers state-of-the-art treatment capabilities to the local community," said Beverley Stinson, chief executive of AECOM's global Water business. "Our teams have established themselves as pioneers in the global push to advance highly efficient and cost effective nutrient removal, and will leverage this extensive expertise to enhance the plant and improve the effluent water quality to protect the environment, while meeting existing and future community demands."
The AECOM team's scope of work for the project includes process, mechanical, civil, electrical and structural engineering services to modernize and upgrade the existing infrastructure, while incorporating advanced operational and environmental features. The expansion will involve replacing aging equipment, constructing a new 25 MGD treatment train, and building a new 120-inch outfall line and structure. The project will also provide wet weather treatment with new 100 MGD cloth filters and build a flood wall to protect against 100-year floods in accordance with the National Weather Service's historic <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.austintexas.gov%2Fdepartment%2Fflood-risk-and-atlas-14&amp;esheet=54125161&amp;newsitemid=20240923628017&amp;lan=en-US&amp;anchor=Atlas+14&amp;index=1&amp;md5=f42d51c75c9b61534bc111d8082f631f">Atlas 14</a> flood risk study.
"AECOM has a longstanding partnership with the City of Austin, having designed substantial portions of the City's major water and wastewater treatment plants," said Matt Crane, chief executive of AECOM's U.S. West region. "Our expertise in complex treatment design will support an exceptionally resilient, sustainable facility, aligning with our Sustainable Legacies strategy to make a lasting positive impact through every project we undertake."
Originally built in 1977 with an 18 million gallon per day capacity, the Walnut Creek Wastewater Treatment Plant has since been expanded three times in 1987, 1990, and 2005 to reach its current capacity of 75 million gallons per day. The facility is expected to remain operational throughout the work.

AECOM to Lead Major Expansion of Austin's Walnut Creek Wastewater Plant, Boosting Capacity to 100 MGD

Tempur Sealy International, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPX#NYSE">TPX</a>, ", Company", or ", Tempur Sealy", )))) today provided an update with respect to the Company's agreement to acquire Mattress Firm Group Inc. ("Mattress Firm"), which is currently being challenged in federal court by the Federal Trade Commission ("FTC").
The litigation process continues to progress, with hearings currently scheduled to begin on November 12, 2024, and expected to last two weeks. The Company continues to believe that a successful litigation process can be completed in the coming months, which would allow the transaction to close in late 2024 or early 2025, consistent with previous expectations.
In conjunction with the planned Mattress Firm acquisition, Tempur Sealy has entered into a purchase agreement with MW SO Holdings Company, LLC ("Mattress Warehouse"), a leading independently owned bedding specialty retailer, for the sale of 73 Mattress Firm retail locations and the Company's Sleep Outfitters subsidiary, which includes 103 specialty mattress retail locations and seven distribution centers.
Mattress Warehouse is a multi-branded retailer offering a full array of mattresses at various price points. Tempur Sealy will continue to supply its Tempur-Pedic, Stearns &amp; Foster, and Sealy products to the divested Mattress Firm and Sleep Outfitters stores. The divestiture is subject to the closing of Tempur Sealy's acquisition of Mattress Firm and other customary closing conditions. It is expected to close approximately one quarter after the closing of the Mattress Firm transaction.
Company Chairman and CEO Scott Thompson commented, "As part of our engagement with the FTC on the proposed acquisition of Mattress Firm, we conducted a divestiture process, which led to an agreement with Mattress Warehouse, a company with extensive mattress retail experience, a strong capital base, and a capable leadership team."

Tempur Sealy Moves Forward with Mattress Firm Acquisition, FTC Court Hearings Set for November

Tempur Sealy intends to use the proceeds from the Term Loan B, together with cash available and proceeds from other debt, to fund the cash consideration for the previously announced acquisition of Mattress Firm Group Inc.. Tempur Sealy intends to draw on the Term Loan B concurrent with the closing of the Mattress Firm acquisition.

Tempur Sealy Launches Proposed Senior Secured Term Loan B Facility In An Aggregate Principal Amount Of Up To $1.6B

Keybanc analyst Jackson Ader maintains CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a Overweight and raises the price target from $300 to $345.

CRWD

Keybanc Maintains Overweight on CrowdStrike Holdings, Raises Price Target to $345

Keybanc analyst Sangita Jain maintains Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) with a Overweight and raises the price target from $230 to $265.

Keybanc Maintains Overweight on Constellation Energy, Raises Price Target to $265

In a report released on January 1, Chris Lui from Jefferies maintained a Buy rating on Alibaba Health Information Technology (ALBHF – Research Repo...

Jefferies Remains a Buy on Alibaba Health Information Technology (ALBHF)

In a report released on January 5, Chris Lui from Jefferies maintained a Buy rating on Alibaba Health Information Technology (ALBHF – Research Repo...

Jefferies Sticks to Its Buy Rating for Alibaba Health Information Technology (ALBHF)

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Analysts Offer Insights on Healthcare Companies: Alibaba Health Information Technology (OtherALBHF) and Insmed (INSM)

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited has issued a total of 3,700,7...

Alibaba Health Rewards Staff with Equity

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited has announced proposed amendm...

Alibaba Health Proposes Bye-law Amendments and New Share Scheme

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Alibaba Health Sets AGM for Financial and Director Decisions

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited has announced the re-designat...

Alibaba Health Announces Board Chair's Role Change

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Alibaba Health Unveils New Board Structure

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited announced the successful pass...

Alibaba Health Gains Strong Shareholder Support at AGM

Alibaba Health Information Technology (HK:0241) has released an update. Alibaba Health Information Technology Limited has announced the grant of 4,...

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