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The UK's Competition and Markets Authority has approved Microsoft's $69B acquisition of Activision Blizzard. Google is testing generative AI functionalities for its search tool. Cassava Sciences faces controversy over scientific misconduct allegations. Ford is struggling with UAW negotiations. EHang shares are trading higher after obtaining a certificate for its EH216-S UAV system. OpenAI is valued at $90B and is close to selling shares. TSMC is seeking permanent US approval for chip supplies. Netflix plans to launch 'Netflix House' experiences. The Kroger-Albertsons deal faces potential legal challenges. Boeing and Spirit AeroSystems are inspecting 737 Max aircraft defects. Wells Fargo, JPMorgan, Citigroup, BlackRock, and UnitedHealth reported Q3 earnings. Porsche records a 10% surge in deliveries for the first three quarters.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 1:48 pm

INDV

Addiction treatment company Indivior PLC (NASDAQ:INDV) has signed an exclusive licensing agreement with Alar Pharmaceuticals. Indivior will pay $10 million to secure exclusive global rights to develop, produce and commercialize Alar's portfolio of long-acting injectable formulations, including its lead candidate, ALA-1000. This is in addition to an initial $5 million option payment made by Indivior to Alar in Q1. Alar is entitled to potential milestone payments if various developmental, regulatory, and commercial goals are achieved.

Portfolio Pulse from Nina Zdinjak

October 13, 2023 | 1:35 pm

BTCUSD

ETHUSD

LDOUSD

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Bitcoin (BTC) edged higher but remained below the $27,000 level, while Ethereum (ETH) traded below the $1,600 mark. Loom Network (LOOM) was the top gainer over the prior 24 hours, while Mantle (MNT) was the biggest loser. The global crypto market cap fell to $1.05 trillion, recording a 24-hour decline of 0.1%.

Portfolio Pulse from Lisa Levin

October 13, 2023 | 1:33 pm

AAPL

CMTL

SAVA

TFC

TSLA

Comtech Telecommunications shares are trading higher by around 17%. Tesla's market share dips despite US EV sales climbing. Crypto market faces uncertainty due to 'Friday the 13th'. Ripple's Brendan Berry is using crypto to revolutionize cross-border payments. SEC may greenlight a spot Bitcoin ETF. Apple faces a class action lawsuit over AirTags. Kroger-Albertsons deal may face legal challenge in California. Boeing and Spirit AeroSystems accelerate inspection of 737 Max aircraft defect. Truist Financial charts a recovery path after 43% stock decline since its February peak. Alzheimer's-focused Cassava Sciences faces controversy as key collaborator accused of scientific misconduct.

Portfolio Pulse from Akanksha Bakshi

October 13, 2023 | 1:32 pm

STKL

SunOpta has announced the sale of certain frozen fruit assets to Nature's Touch for $141 million and issued preliminary Q3 results. This has led to a rise in SunOpta's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:26 pm

GLD

UUP

The escalating conflict in Gaza Strip has led to increased risk aversion in global markets. Israel's Defense Forces have issued an evacuation mandate for the northern sector of Gaza, which could affect over 1 million Palestinians. This has led to a surge in safe-haven assets, with Treasuries rallying and yields retracting. Gold, as tracked by the SPDR Gold Trust (GLD), saw a 1.6% uptick, while the U.S. dollar index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), held steady. The Israeli shekel fell 0.6% against the dollar. Amid the turmoil, oil prices surged by over 3.5%.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 1:18 pm

EDRY

EuroDry Ltd. (NASDAQ:EDRY) has announced the delivery of M/V YANNIS PITTAS, an Ultramax drybulk carrier, which is the first of three such carriers the company agreed to acquire. The vessel was paid for in cash and is expected to be partly financed by a $10.5 million sustainability-linked loan from Eurobank S.A. The vessel is under a time charter contract until December 2023 at $12,500 per day. The remaining two vessels are expected to be delivered by October 2023.

Portfolio Pulse from Happy Mohamed

October 13, 2023 | 1:04 pm

JPM

JPMorgan Chase & Co reported Q3 net revenue of $40.7 billion, up 21% Y/Y, beating the consensus of $39.57 billion. Consumer & Community Banking revenue increased 29% Y/Y to $18.4 billion, while Corporate & Investment Banking was $11.7 billion (-2% Y/Y). The company's Q3 provision for credit losses was $1.4 billion (-10% Y/Y). Assets under management (AUM) stood at $3.2 trillion (+22% Y/Y). The company expects net interest income excluding Markets of ~$89 billion for FY23. JPM shares are trading higher by 1.33% at $147.75 premarket.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 1:02 pm

SNDL

SunStream Bancorp has announced a court order granting the sale of certain assets of Greenpeak Industries and affiliated entities, Skymint, to Skymint Acquisition Co., a designee entity of Tropics LP, fully owned by an affiliate of Sunstream and sponsored by SNDL Inc. The sale is part of Skymint's ongoing restructuring and is expected to close in Q1 2024, subject to regulatory approval. The assets include 21 retail leases with dispensaries that produced annualized sales of approximately $68 million in September 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:42 pm

GOOD

Gladstone Commercial Corporation (NASDAQ:GOOD) has acquired a 70,000 square foot industrial manufacturing facility in Allentown, Pennsylvania, for a total purchase price of $7.8 million. The property is 100% leased to Alleguard, a manufacturer and distributor of custom EPS, EPP and ARCEL foam products. The acquisition is part of Gladstone's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:34 pm