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Japan Airlines has signed a deal with GE Aerospace for GEnx-1B engines to power its new fleet of 787-9 Dreamliner aircraft, following an agreement with Boeing for up to 20 new planes.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:54 pm

HYTN

HYTN Innovations Inc (CSE:HYTN) has acquired Prism Scientific Labs Inc to enhance its psychedelic drug manufacturing capabilities. The acquisition includes exclusive access to Prism's intellectual property and specialized equipment, aimed at increasing the yield and potency of psilocybin-containing mushrooms. HYTN issued 12,100,100 common shares to former Prism shareholders as part of the deal. The integration is expected to advance HYTN's development of psychoactive compounds for clinical applications.

Portfolio Pulse from Juan Spínelli

July 22, 2024 | 3:53 pm

COP

CVX

EOG

GRID

ICLN

IYE

MRO

VDE

XLE

XOM

Oil stocks fell amid concerns that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the race for the White House. Chevron, Marathon Oil, Exxon Mobil, ConocoPhillips, and EOG Resources saw declines. ETFs tied to the oil sector also mirrored this downward trend, while renewable energy ETFs traded in the green, reflecting optimism about a potential shift towards clean energy under a Harris administration.

Portfolio Pulse from Surbhi Jain

July 22, 2024 | 3:51 pm

GE Aerospace announced that International Airlines Group has committed to purchasing Genx engines to power six new 787 Dreamliners for British Airways.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:49 pm

EMBC

Embecta, a leading diabetes device maker, is exploring a potential sale due to slowing profits and a significant drop in share price since its spin-off from Becton Dickinson. The company has hired Centerview Partners to advise on the sale. Embecta's US sales have been impacted by the popularity of GLP-1 drugs like Novo Nordisk's Ozempic. Despite challenges, potential growth opportunities exist in developing markets and new product approvals.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:45 pm

MCD

VCR

XLY

McDonald's Corp. (NYSE:MCD) plans to extend its $5 meal deal across most U.S. locations to attract cost-conscious diners. The initiative, launched on June 25, aims to draw customers back amid inflation. Early results are positive, and the company is considering further extensions and additional affordability strategies. McDonald's will announce its Q2 earnings on July 29. The stock has lost over 12% in the last 12 months but is trading higher by 0.33% at $258.13. Investors can also gain exposure via Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Vanguard Consumer Discretionary ETF (NYSE:VCR).

Portfolio Pulse from Shivani Kumaresan

July 22, 2024 | 3:43 pm

RCAT

Red Cat Holdings has secured $4.4 million in non-dilutive financing by divesting Unusual Machines. The funds will support the development of drone systems for the U.S. Department of Defense and NATO allies.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:43 pm

INAQ

Alpha Modus, Corp. has been awarded two new patents focused on enhancing customer shopping experiences and personalized marketing in retail stores. These patents could significantly impact their technological offerings in the retail sector.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:42 pm

COST

Significant investors have shown a bullish stance on Costco Wholesale (NASDAQ:COST) through options trading, with 52% of trades being bullish. The price target for Costco ranges from $425 to $1340. Analysts have given mixed ratings, with a consensus target price of $930. The stock is currently trading at $843.69, up by 0.66%.

Portfolio Pulse from Benzinga Insights

July 22, 2024 | 3:31 pm

IQV

SAVA

SERV

TELL

TEX

IQVIA Holdings Inc. (NYSE:IQV) posted strong Q2 earnings, raising its 2024 guidance, leading to a 7.4% stock surge. Other notable gainers include Tellurian Inc. (NASDAQ:TELL) up 64.5% on acquisition news, Serve Robotics Inc. (NASDAQ:SERV) up 46.6% after Nvidia disclosed a stake, and Cassava Sciences, Inc. (NASDAQ:SAVA) up 27.2% on positive Phase 3 trial updates.

Portfolio Pulse from Avi Kapoor

July 22, 2024 | 3:29 pm