Latest news for Sumitomo Pharma (OTC:SMDPY) Stock

Sumitomo Pharma Co Ltd is a specialty and generic drug manufacturing company. Sumitomo's vast majority of sales are generated in North America, followed by Japan. The company's core business is its pharmaceutical products business. The pharmaceutical business maintains a focus on a variety of areas, including cardiovascular/diabetes, psychiatry & neurology, and specialty areas. Sumitomo considers merger and acquisition investment as a potential component of its operational growth strategy for expanding its research, development, manufacturing, and marketing capabilities.

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DNPUF

NBRV

SMDPY

Nabriva Therapeutics Stock Gains On Positive Lefamulin Data In CABP Patients In China

SUMITO DAIN PHAR UNSP/ADR by SUMITOMO DAINIPPON PHARMA CO LTD

Sumitomo Pharma Co Ltd

Founded in 1983, aurenz maintains a leading position in the field of call accounting and in recent years in UC analytics. aurenz solutions provide essential added value for unified communication systems, easily and quickly integrating into every UC implementation. aurenz prides itself on delivering outstanding service to ensure seamless installations and integrations. Jürgen Dagutat, in his role as Managing Director, will continue to lead the aurenz team, ensuring continuity and further strengthening partnerships.
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UC analytics provides organizations with the data-driven insights necessary to optimize their communication strategies and with real-time feedback, to help identify and quickly resolve issues. UC analytics may also be used to enhance customer service interactions. By analyzing this data, companies can improve response times, identify common customer issues, and refine support processes to provide a better customer experience. In today's competitive environment, UC analytics helps to enrich operational efficiency and to achieve superior customer satisfaction.
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Ariel Glassner, Chief Executive Officer of MIND, commented: "This acquisition strengthens our position as a leading provider of UC analytics that can support businesses of all sizes. We believe that aurenz's solid reputation and proven expertise in the German market, its strong existing partnerships, and the great team of highly experienced professionals in the UC industry puts MIND in a good position for increased success in the European markets. Given our cash position and our experienced organization, we believe that we are well positioned and have the required resources to respond to market needs and continue with our dividend policy."
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Jürgen Dagutat, Managing Director of aurenz, commented: "The team at aurenz is genuinely enthusiastic about joining forces with a publicly listed company that offers global reach, robust financial strength, and a deep focus on our core markets. This merger creates substantial value for all partners and customers of both MIND and aurenz, as it combines the strengths of the two companies."
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MIND acquires aurenz for up to approximately $1.88 million in cash. The transaction is expected to be marginally accretive to our earnings per share, excluding acquisition-related items, in fiscal 2025 and thereafter. MIND's financial results will include the acquired company's results starting the first quarter of 2025.
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The acquisition is anticipated to be completed shortly, subject to customary closing requirements.
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MNDO

MIND C.T.I. Says It Has Signed A Definitive Agreement To Acquire Aurenz GmbH In Germany  For Up To Approximately $1.88M In Cash

IMOS

ChipMOS Says It Expects 6.3% FY24 Revenue Growth, With A 5.4% YoY December 2024 Revenue Decline And A 5.7% YoY Q4 Revenue Decline

PacBio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>), developer of the world's most advanced sequencing technologies, and Intus Bio, a leader in microbiome research and discovery, today unveiled GutID, the first commercial human gut health test powered by Intus Bio's groundbreaking Titan-1 platform and PacBio's HiFi sequencing technology. By combining Intus Bio's patented strain-level resolution assay and AI-powered analysis with PacBio's renowned sequencing accuracy, GutID sets a new benchmark in gut microbiome testing, and is the only comprehensive and accurate gut microbiome test available today.

PACB

PacBio and Intus Bio Launch GutID: First AI-Powered, HiFi Sequencing Gut Microbiome Test

<a href="https://www.ilsole24ore.com/art/capri-pronta-cedere-versace-prada-campo-l-acquisto-AGB4dMDC" title="https://www.ilsole24ore.com/art/capri-pronta-cedere-versace-prada-campo-l-acquisto-AGB4dMDC">https://www.ilsole24ore.com/art/capri-pronta-cedere-versace-prada-campo-l-acquisto-AGB4dMDC</a>

Asset Sales

CPRI

Italy's Il Sole 24 Reported Earlier Prada Is A Potential Buyer For Capri's Versace

<ul>
<li>Total revenue is estimated to be&nbsp;$20.4 million&nbsp;and&nbsp;$71.3 million&nbsp;for the fourth quarter and fiscal 2024, respectively, an increase of 39% and 45% over the respective prior year comparable periods;
<ul>
<li>Lung Diagnostics revenue is estimated to be&nbsp;$17.2 million&nbsp;and&nbsp;$64.7 million&nbsp;for the fourth quarter and fiscal 2024, respectively, an increase of 34% and 43% over the respective prior year comparable periods;</li>
<li>Biopharma Services and other revenue is estimated to be&nbsp;$3.2 million&nbsp;and&nbsp;$6.6 million&nbsp;for the fourth quarter and fiscal 2024, respectively, an increase of 68% and 69% over the respective prior year comparable periods; entering 2025 with $12.2 million under contract but not yet recognized as revenue, a 54% increase over the prior year comparable period;</li>
</ul>
</li>
<li>Lung Diagnostic test volumes of 14,600 and 54,300 for the fourth quarter and fiscal 2024, respectively, an increase of 34% and 40% over the respective prior periods;</li>
<li>Cash and cash equivalents of $26.2 million as of December 31, 2024.</li>
</ul>

BDSX

Biodesix Sees Q4 Revenues Of $20.4M And FY24 Revenues Of $71.3M Vs. $70.73M Estimate

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fli-cycle.com%2F&amp;esheet=54176323&amp;newsitemid=20250110611886&amp;lan=en-US&amp;anchor=Li-Cycle+Holdings+Corp.&amp;index=1&amp;md5=b9bef9707a5d5d97b02aedde3beeca6c">Li-Cycle Holdings Corp.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NYSE">LICY</a>) ("Li-Cycle" or the "Company"), a leading global lithium-ion battery resource recovery company, is pleased to report preliminary commercial and operational highlights for full-year 2024.
Commercial Highlights
Li-Cycle continued to gain commercial traction in 2024, bolstering its position as a preferred lithium-ion battery recycling partner. Its largest customers comprise leading global battery supply chain companies, including EV OEMs, battery manufacturers, miners, and raw material buyers.
In 2024, the largest source of the Company's battery feedstock was a U.S.-headquartered, vertically integrated EV and battery manufacturer with a substantial global EV market share. Throughout 2024, Li-Cycle supported approximately 13 prominent EV manufacturers and approximately 15 key battery cell and material producers with the Company's sustainable recycling services.
"We are pleased to be able to widen our commercial footprint for battery feedstock for our Spoke network in the United States and Germany. Our top source of battery feedstock during the past year was a leading U.S. EV and battery manufacturer and is indicative of our position as a preferred recycling partner for the largest blue-chip companies in the global battery supply chain," said Ajay Kochhar, Li-Cycle President and CEO. "Our sustainable, battery-agnostic recycling technology — which can process full-pack batteries regardless of form factor and without the need to dismantle or discharge — continues to provide value for our global customers."
Rochester Hub and Spoke Operations Highlights
Li-Cycle is continuing to prioritize securing a full financing package to support the construction restart of the Rochester Hub project and to satisfy requirements for first advance under the $475 million loan facility from the U.S. Department of Energy (DOE).
Li-Cycle produced approximately 5,370 tonnes of black mass and equivalents1 ("BM&amp;E") in full-year 2024, and approximately 1,200 tonnes of BM&amp;E in Q4 2024.
The Company is continuing to focus on its Spoke optimization initiatives to establish a financially accretive and self-sufficient Spoke business.
"Our two main goals for the Company are clear: we are focused on securing a full financing package to underpin the restart of construction of the Rochester Hub and starting to draw on the DOE loan, alongside implementing initiatives to enhance Spoke performance and improve cash flow to establish a self-sufficient Spoke business."

LICY

Li-Cycle Strengthens Commercial Footprint, Partners with Major US EV Manufacturer for Battery Recycling in 2024

<ul>
<li>$75 Million in Incremental Term Loan and $30 Million in New Second Lien Notes to Support Operational Improvements, Strategic Priorities and Covenant Relief</li>
<li>Will Pursue Strategic Review of Assets with Key Company Advisors to Maximize Value</li>
<li>Chief Transformation Officer and Board Additions Bolster Company Leadership</li>
<li>Company Withdraws Previously Stated Revenue and Adjusted EBITDA Growth Guidance</li>
</ul>

Guidance

MODV

Modivcare Has Secured $75M In Incremental Financing, Backed By Stakeholders Across The Capital Structure, And Appointed Chad Shandler As Its Chief Transformation Officer. Existing Investor, Coliseum Capital Management, Has Also Committed $30M To Purchase New Second Lien Senior Notes Due 2029

Mersana Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRSN#NASDAQ">MRSN</a>), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced positive initial clinical data from the Phase 1 dose escalation and backfill cohorts for emiltatug ledadotin (Emi-Le; XMT-1660), Mersana's lead Dolasynthen ADC candidate targeting B7-H4.

MRSN

Mersana Therapeutics Announces Phase 1 Data for Lead ADC Candidate Targeting B7-H4 in Cancer Treatment

BMO Capital analyst Keith Bachman upgrades Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) from Market Perform to Outperform and raises the price target from $255 to $292.

Upgrades

Price Target

Analyst Ratings

TEAM

BMO Capital Upgrades Atlassian to Outperform, Raises Price Target to $292

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has hiked the price of all variants of its cheapest offering, the Model 3 in China by 3,600 yuan (about $491).
What Happened: The base variant of the Model 3 now starts at 235,500 yuan in China, up from 231,900 yuan. 
While the long-range all-wheel drive variant now starts at 275,500 yuan, the performance variant starts at 339,500 yuan. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Model 3 Variant</td>
<td>New Starting Price</td>
<td>Old Starting Price</td>
</tr>
<tr>
<td>Rear-Wheel Drive</td>
<td>235,500</td>
<td>231,900</td>
</tr>
<tr>
<td>Long Range All-Wheel Drive</td>
<td>275,500</td>
<td>271,900</td>
</tr>
<tr>
<td>Performance</td>
<td>339,500</td>
<td>&nbsp;335,900</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Tesla (All amounts in yuan)</figcaption></figure>
The estimated wait time for all three variants continues to be 1-3 weeks. 
Why It Matters: Tesla also launched a refreshed Model Y in China on Thursday. The refreshed vehicle starts at <a href="https://www.benzinga.com/tech/25/01/42905406/tesla-launches-refreshed-model-y-in-china-amid-rising-competition">263,500 yuan on Tesla's website</a>, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan.&nbsp;
China is an important market for Tesla. In 2024, the company reportedly&nbsp;<a href="https://www.benzinga.com/25/01/42782683/tesla-hits-record-ev-sales-in-china-despite-global-dip" target="_blank" rel="noreferrer noopener">sold around 657,000 vehicles in China</a>, marking a growth of 8.8% year-on-year, even while its global annual deliveries fell as compared to 2023.
Tesla reported global <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a> vehicles in 2024, down from full-year deliveries of 1.81 million in 2023, marking the first decline in over a decade.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42906684/blue-origin-pushes-new-glenn-launch-to-no-earlier-than-sunday">Jeff Bezos&#8217; Blue Origin Pushes New Glenn Launch To No Earlier Than Sunday Due To Adverse Weather Conditions</a></li>
</ul>
Photo courtesy: Tesla

Tech

TSLA

Tesla Model 3 Prices Rise In China As Refreshed Model Y Debuts

BMO Capital analyst Michael Zaremski upgrades Everest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) from Market Perform to Outperform and raises the price target from $372 to $453.

BMO Capital Upgrades Everest Group to Outperform, Raises Price Target to $453

Macro Economic Events

Econ #s

Economics

France Consumer Spending (MoM) For November 0.3% Vs. 0.1% Est.; -0.3% (Revised) Prior

BMO Capital analyst Kostas Biliouris upgrades Precision BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) from Market Perform to Outperform and maintains the price target from $34 to $34.

DTIL

BMO Capital Upgrades Precision BioSciences to Outperform, Maintains Price Target to $34

Baird analyst Jon Vruwink downgrades Q2 Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QTWO#NYSE">QTWO</a>) from Outperform to Neutral and raises the price target from $89 to $99.

Downgrades

QTWO

Baird Downgrades Q2 Holdings to Neutral, Raises Price Target to $99

Shares of Zoomcar Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) rose sharply in today's pre-market trading after the company announced a significant achievement in its financial performance, reporting the highest-ever unaudited and unreviewed contribution profit for <a href="https://www.benzinga.com/25/01/42894964/zoomcar-achieves-highest-ever-december-profit-driven-by-17-increase-in-bookings">December 2024</a>.
The company achieved $494,506 in contribution profit for the month, which was sufficient to cover its operational costs in India. It is to be noted that Zoomcar currently only operates in India and does not incur operational costs in any other country.
Zoomcar Holdings shares jumped 40.5% to $2.50 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Vision Marine Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) gained 102% to $3.07 in pre-market trading after the company partnered with Calip Group to produce advanced cooling plates for electric boat batteries.</li>
<li>Bridger Aerospace Group Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAER#NASDAQ">BAER</a>) gained 56.3% to $4.36 in pre-market trading after surging 12% on Wednesday.</li>
<li>Mars Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAI#NASDAQ">STAI</a>) rose 44.5% to $3.15 in pre-market trading after the company announced it sees a growth path after its successful de-SPAC transaction.</li>
<li>Microvast Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) rose 35.3% to $2.53 in pre-market trading after the company announced breakthrough in true all-solid-state battery technology.</li>
<li>Senseonics Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SENS#NYSE">SENS</a>) gained 29.6% to $0.56 in pre-market trading after the company announced business updates including preliminary 2024 results, 365 launch update and cancellation of special meeting.</li>
<li>Precision BioSciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) gained 27.3% to $5.73 in pre-market trading after the company's partner iECURE has reported clinical efficacy and safety data in the first patient dosed with ECUR-506 in the phase 1/2 OTC-HOPE study.</li>
<li>Intrusion Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTZ#NASDAQ">INTZ</a>) gained 25% to $2.50 in pre-market trading after falling 23% on Wednesday.</li>
<li>Penguin Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) gained 15.8% to $22.15 in pre-market trading after the company signed AI data center collaboration agreement with SK Telecom and SK hynix.</li>
<li>Sasol Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSL#NYSE">SSL</a>) gained 12.2% to $4.96 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>IGM Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGMS#NASDAQ">IGMS</a>) fell 66.3% to $2.09 in pre-market trading as the company halted further development of Imvotamab and IGM-2644 and plans reducing its workforce by 73%.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDI#NASDAQ">CLDI</a>) fell 31.1% to $0.93 in today's pre-market trading after announcing a proposed public offering.</li>
<li>Mercury General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) fell 30.1% to $42.42 in pre-market trading after declining around 6% on Wednesday.</li>
<li>22nd Century Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares fell 29.1% to $5.75 in pre-market trading after surging over 40% on Wednesday.</li>
<li>Aviat Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) fell 25.5% to $14.00 in pre-market trading.</li>
<li>Silo Pharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) dipped 22.2% to $1.33 in pre-market trading. Silo Pharma shares jumped 57% on Wednesday after the company announced it was awarded a US patent for its PTSD treatment titled &#8216;Pharmacological Prophylactics Against Stress-Induced Affective Disorders in Females.&#8217;</li>
<li>CURRENC Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares fell 21.6% to $3.07 in pre-market trading after jumping 182% on Wednesday.</li>
<li>European Wax Center Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) shares tumbled 20.4% to $5.10 in pre-market trading.</li>
<li>Vinci Partners Investments Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINP#NASDAQ">VINP</a>) shares dipped 15.5% to $8.10 in pre-market trading.</li>
<li>ZIM Integrated Shipping Services Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) declined 7.4% to $19.16  in pre-market trading.</li>
</ul>
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Pre-Market Outlook

Markets

Movers

Trading Ideas

AVNW

BAER

CLDI

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

EWCZ

IGMS

INTZ

MVST

Penguin Solutions, Inc. - Ordinary Shares

PENG

SENS

SILO

STAI

VINP

VMAR

XXII

ZCAR

Why Zoomcar Shares Are Trading Higher By Over 40%; Here Are 20 Stocks Moving Premarket

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) continues to &#8220;reshape modern warfare&#8221; despite recent market volatility, with shares down 10.51% year-to-date after surging over 306% in the past year, according to co-founder Joe Lonsdale.
What Happened: &#8220;It&#8217;s great to see Palantir being recognized as an extremely valuable company,&#8221; Lonsdale said during a CNBC <a href="https://www.youtube.com/watch?v=RBAGWBQNogU">appearance</a> on Thursday, highlighting the company&#8217;s $155 billion market capitalization that now exceeds traditional defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>).
The data analytics giant&#8217;s rapid growth gained even more momentum after President-elect Donald Trump&#8216;s victory, with shares soaring more than 50% from the election to year-end.
CEO Alex Karp emphasized the <a href="https://www.benzinga.com/markets/equities/24/12/42356725/alex-karp-supports-doge-as-trump-taps-palantirs-shyam-shankar-for-border-security-role-cannot-have-a-better-person-than-musk">company&#8217;s military applications</a>, stating, &#8220;We&#8217;ve managed our model in AI so that it actually delivers value — on the battlefield, to bring soldiers home, to kill enemies, or commercially, to change margins.&#8221;
This transformation from a data organization platform to an AI powerhouse nearly didn&#8217;t happen. Lonsdale revealed on the Shawn Ryan show that Palantir &#8220;came really close to dying&#8221; in its early years before <a href="https://www.benzinga.com/markets/equities/24/12/42570755/joe-lonsdale-reveals-palantirs-close-to-dying-moment-credits-alex-karp-for-securing-key-contracts-with-fbi-and-cia">Karp secured crucial FBI and CIA contracts</a>. &#8220;A few of our top guys were basically ready to quit,&#8221; he recalled, highlighting the company&#8217;s dramatic turnaround.
See Also: <a href="https://www.benzinga.com/news/25/01/42905013/nvidia-slams-bidens-country-specific-chip-rules-legacy-that-will-be-criticized">Nvidia Slams Biden&#8217;s Country-Specific Chip Rules: &#8216;Legacy That Will Be Criticized&#8217;</a>
Wedbush Securities analyst Dan Ives remains bullish, <a href="https://www.benzinga.com/markets/equities/24/12/42696805/palantir-touted-as-next-oracle-by-dan-ives-here-is-why-the-wedbush-analyst-called-the-company-a-table-pounder">predicting 2025 will mark a breakthrough year</a> for Palantir&#8217;s AI platform. The company&#8217;s expanding influence is further evidenced by its recent partnership with Amazon Web Services to provide Anthropic&#8217;s Claude AI models to U.S. intelligence agencies.
Why It Matters: While 44% of Palantir&#8217;s revenue still comes from government contracts, Lonsdale emphasized that the majority of growth now stems from commercial applications. 
This diversification, coupled with the company&#8217;s technological edge over traditional defense contractors, positions Palantir at the forefront of both military modernization and commercial AI deployment despite recent market fluctuations.
&#8220;There&#8217;s a growing recognition worldwide of the need for cutting-edge defense solutions,&#8221; Lonsdale said. &#8220;Interestingly, modest reductions in defense budgets can benefit newer, innovative defense firms. Legacy contractors often operate with inefficiencies that make their solutions far more expensive.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/25/01/42906684/blue-origin-pushes-new-glenn-launch-to-no-earlier-than-sunday">Jeff Bezos&#8217; Blue Origin Pushes New Glenn Launch To No Earlier Than Sunday Due To Adverse Weather Conditions</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

PLTR

Palantir Co-Founder Joe Lonsdale Touts Lead Over Traditional Contractors Amid Stock Dip: Analyst Says 2025 To Be A Breakthrough Year

Amid the ongoing devastation caused by wildfires in Los Angeles, Warren Buffett&#8216;s Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), the nation&#8217;s largest property and casualty insurer, is expected to experience minimal financial impact, while other insurers face significant exposure due to its substantial presence in California&#8217;s homeowners insurance market.
What Happened: Berkshire Hathaway&nbsp;is not a major player in the California homeowners insurance market, hence the impact of the wildfires is expected to be minimal. However, other insurers like&nbsp;Mercury General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>),&nbsp;Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>),&nbsp;Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), and&nbsp;Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>)&nbsp;could face substantial losses, Barron&#8217;s <a href="https://www.barrons.com/amp/articles/berkshire-hathaway-los-angeles-fire-losses-8e0e5591">reported </a>on Friday.
J.P. Morgan analyst Jimmy Bhullar&nbsp;noted on Thursday that insured losses from the fires might surpass $20 billion, setting a new record for wildfire losses in California. 
Mercury General, heavily reliant on California for its premiums, could be the most vulnerable relative to its size. The company wrote over $700 million in homeowners insurance&nbsp;premiums in the state during&nbsp;the first nine months of&nbsp;2024. Mercury&#8217;s stock fell 6.5% on Wednesday, reflecting investor concerns about its exposure to the fires.
Meanwhile,&nbsp;Berkshire Hathaway could see losses of about $600 million, a minor fraction of its insurance capital. The company might benefit from potential increases in insurance pricing following the fires.
Why It Matters: The ongoing wildfires in Los Angeles have <a href="https://www.benzinga.com/25/01/42899028/la-wildfire-damages-estimated-above-52-billion-california-property-insurance-crisis">caused extensive damage</a>, with estimates suggesting total damages could exceed $52 billion, according to&nbsp;Accuweather. More than 2,000 structures have been damaged or destroyed, with further destruction anticipated as red flag warnings persist.
The fires have ignited concerns among investors regarding the stability of <a href="https://www.benzinga.com/markets/equities/25/01/42906089/california-wildfires-ignite-concerns-for-insurance-stocks-here-are-some-insurance-etfs-which-could-be-impacted">California-based insurance stocks</a> and ETFs. The Eaton and Palisades fires alone have ravaged over 10,000 structures, leading to 10 confirmed fire-related deaths. As the crisis unfolds, insurers like&nbsp;Allstate&nbsp;and&nbsp;Travelers&nbsp;are under scrutiny, given their significant roles in the California market. The California FAIR Plan, a state-backed insurer of last resort, is also heavily involved in insuring homes in the affected areas.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, on Friday during pre-market hours, Berkshire Hathaway was showing minimal upward movement by 0.022% while Chubb had dropped by 3.60%, Travelers Company was down by 4.85% while Allstate fell by 6.15%. 
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Representative Image via Wikimedia Commons

Warren Buffett's Berkshire Hathaway To Have Minimal Impact From LA Wildfires, But Insurers Like Mercury General, Chubb Face Higher Risk

Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) disclosed an agreement with NASA to include its Neutron rocket under the existing Venture-Class Acquisition of <a href="https://www.benzinga.com/pressreleases/25/01/b42902495/rocket-lab-selected-by-nasa-to-provide-neutron-launch-services-under-vadr-launch-contract" target="_blank" rel="noreferrer noopener">Dedicated and Rideshare contract</a>.
The Neutron, Rocket Lab&#8217;s reusable medium-lift launch vehicle, will enable the company to expand its capabilities by supporting a variety of missions, including CubeSats, Class D missions, and other payload types across multiple orbits.
Neutron is engineered to offer both commercial and government clients a dependable launch solution, with the capacity to deliver up to 13,000 kg to low Earth orbit.
The rocket is specifically suited for deploying satellite constellations, supporting national security missions, and carrying science and exploration payloads.
Beyond customer missions, Neutron plays a critical role in Rocket Lab&#8217;s long-term strategy to become a fully integrated space company, capable of building, launching, and managing its own satellite constellations while providing space-based services.
Rocket Lab has already delivered several VADR missions with its Electron rocket, demonstrating rapid launch turnarounds.
Notably, the company executed consecutive launches for NASA&#8217;s PREFIRE mission within a two-week span and completed back-to-back launches in May 2023 for the TROPICS mission.
Yesterday, the company successfully completed the Preliminary Design Review for the $515 million Space Development Agency contract, advancing design of 18 satellites for U.S. <a target="_blank" href="https://www.benzinga.com/25/01/42900671/rocket-lab-completes-pdr-for-515m-sda-satellite-contract" rel="noreferrer noopener">defense communications and missile tracking</a>.
Investors can gain exposure to the stock via&nbsp;ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) and ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>).
Price Action: RKLB shares are up 4.71% at $28.65 premarket at the last check Friday.
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Galaxy Payroll Group Says It Has Gained Worldwide Recognition For Its Professional Services And Innovative Solutions

Roth MKM analyst Boobalan Pachaiyappan initiates coverage on Reviva Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVPH#NASDAQ">RVPH</a>) with a Buy rating and announces Price Target of $7.

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Roth MKM Initiates Coverage On Reviva Pharmaceuticals with Buy Rating, Announces Price Target of $7

Tourlite Capital Q1 2024 Investor Letter

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Sumitomo Pharma

<ul>
	<li>Nabriva Therapeutics&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nbrv#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NBRV</a>) and its collaborating partner in China,&nbsp;Sinovant Sciences,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/05/g21288046/sinovant-sciences-and-nabriva-therapeutics-announce-positive-topline-results-from-phase-3-trial-of" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">have announced positive topline results</a>&nbsp;from Sinovant&#39;s Phase 3 bridging study evaluating lefamulin in Chinese adults with community-acquired bacterial pneumonia (CABP).</li>
	<li>Lefamulin met the primary endpoint of non-inferiority versus moxifloxacin, a broad-spectrum antibiotic for Investigator Assessment of Clinical Response at Test of Cure (IACR-TOC).</li>
	<li>IACR-TOC is defined as the resolution or improvement of a subject&#39;s clinical signs and symptoms without any additional antibacterial therapy.</li>
	<li>Success rates of 76.8% (n = 63/82) for lefamulin and 71.4% (n = 30/42) for moxifloxacin was observed.</li>
	<li>IACR-TOC in the clinically evaluable population, success rates were 86.0% (n = 49/57) and 86.2% (n = 25/29) in the lefamulin and moxifloxacin arms, respectively.</li>
	<li>lefamulin was observed to be generally safe and well-tolerated, with an overall rate of treatment-emergent adverse events comparable to that of moxifloxacin.</li>
	<li>In addition, Sinovant has entered into an agreement with&nbsp;Sumitomo Pharmaceuticals (Suzhou) Co Ltd, a wholly-owned subsidiary of&nbsp;Sumitomo Dainippon Pharma&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/dnpuf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DNPUF</a>), to acquire development and commercialization rights for lefamulin in Greater China.</li>
	<li>Lefamulin (marketed by Nabriva in the U.S. as Xenleta) is a semi-synthetic pleuromutilin antibiotic for systemic administration.</li>
	<li>Price Action:&nbsp;NBRV shares are up 60.1% at $2.37 during the premarket session on the last check Wednesday.</li>
</ul>

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