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SMFL

Smart for Life, Inc. (SMFL) has announced a Letter of Intent to acquire a manufacturer of vitamins and supplements, which is expected to contribute approximately $20 million in revenue over the next year. This acquisition aligns with the company's M&A strategy in the nutraceutical space and is anticipated to be the largest to date. The acquisition is expected to bring manufacturing capabilities in-house, create synergies with existing channels and brands, and be accretive to Smart for Life's operations. The completion of the acquisition is contingent upon due diligence and other closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:42 pm

EPD

ICE

OKE

Enterprise Products Partners L.P. (EPD) and ONEOK, Inc. (OKE) have extended their fee waiver for ICE Midland WTI (HOU) crude deliveries between ECHO and MEH terminals until the end of 2025. This move follows a record trading quarter for HOU futures and is expected to incentivize further trading and management of Midland WTI exposure. The waiver also applies to ICE's EFP and ADP mechanisms, enhancing the attractiveness of HOU futures. ICE's global energy markets continue to grow, with open interest reaching a record 52.6 million contracts.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:40 pm

IKT

Inhibikase Therapeutics announced that the FDA has granted a pre-NDA meeting scheduled for January 2024 to discuss the requirements for the approval of IkT-001Pro.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:37 pm

AMZN

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) announced that its patented beverage, Safety Shot, sold out within hours on Amazon.com after an unexpected early release. The product, designed to reduce blood alcohol content and boost clarity, was made available on November 30th, a day ahead of schedule. CEO Brian John expressed surprise at the high demand and is working to increase production. The beverage is priced at $19.99 for a 4-pack and will be restocked soon. It is also available on the company's website and is expected to be in retail stores in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:37 pm

CRMD

CorMedix Inc. (NASDAQ: CRMD), a biopharmaceutical company, has joined The Leapfrog Group's Partners Advisory Committee to advocate for patient safety and infection prevention. CorMedix's CEO emphasized the importance of reducing healthcare-associated infections, highlighting the company's FDA-approved DefenCath, which reduces CRBSIs by up to 71%. DefenCath is the first FDA-approved antimicrobial catheter lock solution in the U.S. for patients with kidney failure receiving hemodialysis through a central venous catheter.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:36 pm

NVDA

TSM

Nvidia Corp (NVDA) stock experienced some volatility due to reports of its specialized AI chip for China, the HGX H20, underperforming with only about 20% of the computing power of its H100 chip. Despite this, Nvidia's CEO Jensen Huang committed to meeting Japan's high demand for AI processors during his visit to Tokyo, where he met with Prime Minister Fumio Kishida. Japan has allocated approximately 2 trillion yen for chip investments, which may benefit Taiwan Semiconductor Manufacturing Company (TSM) and the new chip foundry venture Rapidus. Nvidia's stock has risen 227% year-to-date, fueled by the AI boom, but traded 1.10% lower at $462.50 on Monday.

Portfolio Pulse from Anusuya Lahiri

December 04, 2023 | 1:34 pm

VERB

Verb Technology Company, Inc. (NASDAQ:VERB) has added five new retail brands to its MARKET.live platform, enhancing its multi-vendor livestream social shopping experience. The integration with ecommerce solutions is expected to attract more retailers seeking new distribution and affiliate channels. The new brands, Tuxton, Blakhom, Poppy+Sage, Rad, and VistaShops, offer a diverse range of products, from dinnerware to fashion, and emphasize quality, innovation, and sustainability. This expansion demonstrates MARKET.live's commitment to providing a dynamic selection for its users and maintaining its position in the livestream shopping market.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:34 pm

ATR

AptarGroup, Inc. (NYSE:ATR) has been awarded a contract by the U.S. FDA to study the development of low Global Warming Potential propellants for metered dose inhalers (MDIs). The contract, including optional items, is valued at up to $6 million. Aptar will leverage its R&D center and respiratory team to provide the FDA with information on formulation, manufacturing, and device design for low-GWP propellant MDIs. The study aims to support FDA's regulatory framework for evaluating and approving these MDIs, with results to be reviewed and potentially published.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:31 pm

EYPT

EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) reported positive topline results from its Phase 2 DAVIO 2 trial for EYP-1901, a treatment for wet age-related macular degeneration. The trial met its primary endpoint, showing statistical non-inferiority to aflibercept control and a favorable safety profile. Both doses tested reduced treatment burden by over 80% and maintained strong anatomical control. The company plans to initiate further trials in 2024. EYPT shares surged 288.8% in premarket trading.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 1:29 pm

CX

Cemex, a global building materials company, has surpassed 1,000 heavy-duty trucks powered by lower-carbon fuels, aligning with its Future in Action program aimed at net-zero CO2 emissions by 2050. The company has reduced CO2 emissions by 5% from its fleet and aims to cut third-party transport emissions by 30% by 2030. Cemex unveiled the first fully electric ready-mix truck in the Middle East at COP28 and is collaborating with partners to develop zero-emission vehicles. Renewable diesel and natural gas, which reduce carbon footprint significantly compared to regular diesel, are part of Cemex's transition strategy.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:23 pm