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NB

NioCorp Developments Ltd. plans to produce aluminum-scandium master alloy product from mining and upgrade facilities in the U.S. The product could enable commercial and defense manufacturers to replace select existing aluminum parts in vehicles, offering high-strength, corrosion-resistant, weldable alternatives to existing aluminum options. The project is subject to receipt of project financing and consummation of mining operations at the Elk Creek Project.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:23 am

CLCO

CNXC

LI

MU

OPRA

UP

WDAY

Several US stocks traded lower in Thursday's pre-market session. Workday, Inc. (WDAY) shares dipped 10.1% after Piper Sandler maintained an Overweight rating but lowered the price target. Opera Limited (OPRA) shares fell 6.1% following a proposed secondary follow-on public offering. Concentrix Corporation (CNXC) shares fell 5.5% after reporting worse-than-expected Q3 results and weak Q4 earnings guidance. Micron Technology, Inc. (MU) shares fell 5% despite upbeat Q4 results due to a wider than expected Q1 loss forecast. Cool Company Ltd. (CLCO), Wheels Up Experience Inc. (UP), and Li Auto Inc. (LI) also recorded losses.

Portfolio Pulse from Lisa Levin

September 28, 2023 | 11:21 am

ACB

Aurora Cannabis Inc. (NASDAQ:ACB) has entered into an agreement with Canaccord Genuity, who will buy 46,250,000 common shares of Aurora at C$0.73 per share, resulting in gross proceeds of about C$33,762,500 for Aurora.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:20 am

COTY

Coty Inc. has announced the pricing of its global offering of 33 million shares of its outstanding Class A common stock at $10.80 per share. The offering is made pursuant to an effective shelf registration statement filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 11:17 am

GME

GameStop Corp (NYSE:GME) has elected Ryan Cohen as its new President and CEO, effective immediately. Cohen, who previously held the title of chairman, took a 9% stake in the company in August 2020, which he later increased to 13%. GameStop's stock price saw a dramatic increase in January 2021 due to the meme stock rally, but has since given up a substantial portion of its gains. GME shares are up 6.59% in the premarket session.

Portfolio Pulse from Vandana Singh

September 28, 2023 | 11:10 am

ATVI

MSFT

SCPL

YY

The article lists three overbought stocks in the communication services sector, which are considered overvalued and present an opportunity to go short. The stocks are JOYY Inc. (NASDAQ:YY), Activision Blizzard, Inc. (NASDAQ:ATVI), and SciPlay Corporation (NASDAQ:SCPL). The Relative Strength Index (RSI) values for these stocks are above 70, indicating they are overbought. Microsoft Corp (NASDAQ:MSFT) is also mentioned in relation to its acquisition strategy for Activision Blizzard.

Portfolio Pulse from Lisa Levin

September 28, 2023 | 10:59 am

ACN

Accenture has approved an additional share repurchase of $4.0B, bringing the total outstanding authority to about $6.5B.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 10:59 am

NI

NiSource has announced its decision to postpone the remarketing of its Series C Mandatory Convertible Preferred Stock due to market conditions. The remarketing was initially planned to take place during the optional remarketing period from October 2, 2023, to October 23, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 10:33 am

GME

GameStop Corp. (NYSE:GME) has announced the appointment of Ryan Cohen as its President and Chief Executive Officer, effective immediately. Cohen will not receive compensation for his roles.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 10:08 am

COTY

GM

HON

Presidential hopeful Vivek Ramaswamy has proposed 'zero-base budgeting' as a solution to the US's $33 trillion debt. Ramaswamy, who has experience running businesses including Roivant Sciences, believes that each department should start from scratch when budgeting, rather than using the previous year's budget as a starting point. The concept of zero-base budgeting has been increasingly adopted by corporations in uncertain economic times, with General Motors Corp., Honeywell International, Inc., and Coty, Inc. among those that have successfully implemented it.

Portfolio Pulse from Shanthi Rexaline

September 28, 2023 | 8:52 am