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AVXL

Anavex Life Sciences' stock is up following the announcement that the company has received approval from the CHMP to submit a Marketing Authorisation application for blarcamesine, an oral treatment for Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:39 pm

LYB

TTE

TotalEnergies SE (TTE) has signed a second contract with LyondellBasell Industries NV (LYB) to supply 275 MWac of green electricity from its solar farms in Texas. The 15-year CPPA will enable LYB to offtake 125 MWac from TTE's Brazoria Solar farm, with operations starting by the end of 2025. Additionally, a 12-year CPPA signed in 2022 involves LYB offtaking 150 MWac from TTE's Cottonwood Bayou Solar plant. TTE also announced the end of routine flaring in Nigeria and a methane detection initiative with Nigerian National Petroleum Company Limited. TTE's shares saw a slight increase of 0.30% to $67.94.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 5:31 pm

UBER

Uber for Business has integrated with Brex and Ramp to automate receipt matching for Uber rides and meals, streamlining expense management for companies. This integration simplifies the reimbursement process, enforces policy compliance, and provides real-time visibility into corporate spend. Over 200,000 companies using Uber for Business will benefit from time savings, improved compliance, effective cost controls, and seamless reconciliation. The integration is easy to set up for overlapping customers and supports both employees and finance teams.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:16 pm

DHI

LEN

PHM

XHB

November saw a significant surge in housing starts, outperforming market expectations and indicating a potential economic tailwind for 2024. Despite high interest rates, demand for new homes has remained strong, leading to a rebound in homebuilder stocks. The SPDR Homebuilders ETF (XHB) has risen 58% over the year. Homebuilder shares like DR Horton (DHI), Lennar Corporation (LEN), and Pulte Group (PHM) also saw gains in early trade on Tuesday.

Portfolio Pulse from Neil Dennis

December 19, 2023 | 5:08 pm

LIDR

AEye Inc. (LIDR) stock is trading lower following Continental's decision to end their joint lidar development program, including the HRL131 lidar product line.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:06 pm

NIO

NIO's ET7 electric car has achieved a range of over 650 miles on a single charge with its new 150 kWh battery, surpassing 1,000 km on the CLTC cycle. CEO William Li demonstrated the battery's capability by driving from Zhejiang to Fujian Province, covering 1,044 km with 3% charge remaining. The battery, which is the largest capacity for passenger EVs built in China, will be costly, comparable to the price of an ET5. Mass production is set to begin in April, and NIO will introduce the flagship ET9 during NIO Day 2023, expected to feature the new battery.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:04 pm

XPON

Expion360, Inc (NASDAQ:XPON) announced its entry into the home energy storage market with the launch of two premium lithium iron phosphate (LiFePO4) battery storage solutions. These products are aimed at residential and small business customers to help create stable micro-energy grids and mitigate power fluctuations and outages. The company anticipates that these products will qualify for incentives under California's Self-Generation Incentive Program and federal tax credits. Orders for the new products will start in Q1 FY24, with shipments beginning in Q2 FY24. Following the announcement, XPON shares rose by 5.39% to $4.69.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 4:57 pm

INBS

Intelligent Bio Solutions' stock is up following the announcement that its Intelligent Fingerprinting Drug Screening Solution has received accreditation from the National Association of Testing Authorities.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:56 pm

ALB

LTHM

Allkem's shareholders approved a $10.6 billion merger with Livent, forming Arcadium Lithium, the world's third-largest lithium company. Livent shareholders will receive 2.406 shares for each share owned, while Allkem shareholders will own 56% of the new entity. Piper Sandler downgraded Livent from Neutral to Underweight with a price target cut from $18 to $15 due to a significant drop in lithium prices and potential pressure on contract structures. The lithium market faces oversupply and weakened demand, but long-term prospects remain positive due to the green energy transition and EV demand growth.

Portfolio Pulse from Stjepan Kalinic

December 19, 2023 | 4:53 pm

ProSumnus

ProSumnus shares are up following a publication in the Cureus Journal of Medical Science, which highlighted the effectiveness of the company's precision oral appliance therapy in treating Obstructive Sleep Apnea (OSA).

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:53 pm