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TFFP

TFF Pharmaceuticals announced a conference call and webcast to discuss initial data from ongoing Phase 2 trials of TFF VORI and TFF TAC, scheduled for December 19 at 8:30 a.m. ET.

Portfolio Pulse from Bill Haddad

December 18, 2023 | 9:04 pm

ALDX

Aldeyra Therapeutics, Inc. will host a conference call and webcast on December 19, 2023, to announce Phase 2 clinical trial results for ADX-629, a treatment for atopic dermatitis. The event will be accessible live and archived for 90 days on Aldeyra's website.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 9:03 pm

COST

TGT

WMT

Costco (NYSE:COST) sold over $100 million worth of one-ounce gold bars in the past three months, with each bar priced at $1,950, slightly above the spot price at the time. The company could have profited more by holding onto the gold due to a 6% increase in gold prices since September. However, offering gold bars may enhance Costco's brand value and customer loyalty, differentiating it from competitors like Walmart (NYSE:WMT) and Target (NYSE:TGT). Costco has since raised the price of its gold bars to over $2,000 each.

Portfolio Pulse from Aaron Bry

December 18, 2023 | 7:49 pm

BIL

EWJ

EWU

HYG

IEF

IVV

JPM

SPY

TLT

USHY

UUP

VOO

JPMorgan Chase & Co (NYSE:JPM) predicts the S&P 500 will test the 5,000 level in 2024, recommending overweight positions in U.S. and Japanese equities, U.S. Treasury, and high-yield corporate debt. They suggest underweight positions in European equity and Emerging Markets (ex-China). JPMorgan expects U.S. equities to see broadened performance beyond tech, with an earnings growth estimate of 7% into the next year. They also see potential in Japanese stocks due to corporate governance reforms. In fixed-income, they recommend U.S. Treasuries and high-yield corporate debt, anticipating rate cuts in 2024. The US dollar is expected to weaken, and cash returns are set to fall.

Portfolio Pulse from Surbhi Jain

December 18, 2023 | 7:28 pm

BMRA

CKPT

EBIX

GPCR

IVVD

ZIMV

The Nasdaq Composite gained over 100 points, while U.S. stocks traded mostly higher. Communication services shares led the gains, while real estate shares fell. ZimVie Inc. (ZIMV) announced the sale of its spine business to H.I.G. Capital for $375 million. Invivyd, Inc. (IVVD) and Biomerica, Inc. (BMRA) shares surged after positive trial results and FDA clearance, respectively. Checkpoint Therapeutics (CKPT), Structure Therapeutics (GPCR), and Ebix, Inc. (EBIX) shares fell due to regulatory setbacks and Chapter 11 filing.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 7:21 pm

USO

The EIA Rig Productivity Report forecasts an increase in new well oil production per rig across major regions: Bakken is expected to produce 1,838 barrels per day (BPD) compared to 1,818 BPD a month ago, Permian is forecasted at 1,332 BPD up from 1,319 BPD, and Eagle Ford at 1,629 BPD, an increase from 1,590 BPD.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:13 pm

ADM

ADM (NYSE:ADM) has announced an agreement to acquire Revela Foods, a developer and manufacturer of dairy flavor ingredients. Revela is projected to have sales of $240 million in 2023 and will enhance ADM's capabilities in the $1.8 billion dairy flavors segment. Revela operates three production facilities in the U.S. Midwest and has been a portfolio company of New Heritage Capital since 2019. The acquisition, which is subject to regulatory approvals, is expected to be completed early in 2024. Financial terms were not disclosed. ADM has been expanding its flavor portfolio since acquiring WILD Flavors in 2014, with multiple acquisitions and global investments.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:13 pm

BTCUSD

The crypto market is abuzz with the possibility of Spot Bitcoin ETF approvals, with a decision expected between Jan. 5 to Jan. 10, 2024. Joe Burnett of Unchained.com used ChatGPT 4 to predict a $7.91 trillion BTC market cap if 10% of passive index fund flows go into a Bitcoin ETF over 24 months. Nate Geraci, ETF store president, warns of a potential 'rug pull' if the ETF is not approved, and a 'bloodbath for crypto exchanges.' The Bitcoin halving event in April 2024 is also anticipated to boost the market. Bitwise released an ad promoting its crypto-backed ETFs. In the last 90 days, BTC and ETH have seen significant gains, with some altcoins like Avalanche and Solana experiencing triple-digit increases.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 7:07 pm

VERA

Raymond James initiated coverage on Vera Therapeutics Inc (NASDAQ:VERA), giving an Outperform rating and a price target of $29. The company's lead asset, atacicept, showed promising results in a Phase 2b trial for IgA Nephropathy and is currently in a Phase 3 study. Analysts believe the drug has the potential to achieve blockbuster status with peak sales of $1.5 billion by 2035, despite a competitive development landscape. VERA shares were down 0.78% at $15.88 at the last check.

Portfolio Pulse from Vandana Singh

December 18, 2023 | 6:59 pm

AMZN

Amazon is reportedly in discussions to invest in Diamond Sports Group, the largest regional-sports programmer in the U.S. This investment would further Amazon's foray into sports content, positioning it against competitors such as Disney and Netflix. Diamond Sports, which broadcasts over 40 major sports teams and filed for bankruptcy earlier this year, is considering a strategic investment and a streaming partnership with Amazon.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 6:45 pm