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PCT

PureCycle Technologies' stock is on the rise following their announcement of significant production achievements at their Ironton facility. The company reported producing 183,000 pounds of pellets in the last two weeks, matching their Q4 2023 output. This production included six different days with outputs ranging from 10,000 to 72,000 pounds, all from post-consumer recycled material.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:54 pm

PCT

PureCycle Technologies, Inc. (NASDAQ:PCT) provided an update on its Ironton purification facility, reporting significant production progress. The facility produced 183,000 pounds of pellets in the last two weeks, matching Q4 2023's output. Improvements made after a December mechanical failure have enhanced operations. The company is focusing on optimizing the co-product recovery system and has adjusted feedstocks to improve run rates. PureCycle's finished product is in demand despite color variations, and the company plans to host an 'Ironton Showcase Day' on March 7 for investors.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:52 pm

AXP

Accel-KKR, a private equity firm, has agreed to acquire Accertify from American Express (NYSE:AXP). Accertify is a provider of fraud prevention and other financial security services, serving top online retailers and global airlines. The acquisition will allow Accertify to operate as an independent entity, focusing on growth and product innovation in the fraud prevention market. The global fraud detection and prevention market is projected to grow significantly, from $44.0 billion in 2023 to $182.7 billion by 2030. The terms of the acquisition were not disclosed. American Express was advised by Barclays and Cleary Gottlieb Steen & Hamilton LLP, while Accel-KKR was advised by Kirkland & Ellis LLP.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:48 pm

ACRS

Aclaris Therapeutics Inc (NASDAQ:ACRS) is experiencing a rise in stock price following the announcement of leadership changes and a strategic review of its business. Douglas Manion has stepped down as CEO, President, and Board Member, with Neal Walker, co-founder and former CEO, appointed as Interim CEO. Aclaris is also seeking a partner for its ATI-1777 drug and assessing the pathway for ATI-2138. The company reported having approximately $182 million in cash and marketable securities as of December 31, 2023. Aclaris' shares were up 25% at $1.16.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 4:47 pm

SPY

Fed's Waller suggests that the current productivity gains are not primarily driven by AI advancements but are more likely a result of changes made by firms during the pandemic to adapt to doing more with less.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:45 pm

HALO

RHHBY

The European Commission has approved Roche Holdings AG's Tecentriq SC, a subcutaneous injection version of its cancer drug Tecentriq, marking it as the EU's first PD-(L)1 cancer immunotherapy for under the skin injection. Tecentriq SC, which uses Halozyme Therapeutics Inc's Enhanze technology, offers a shorter treatment time compared to the IV infusion method. The approval is based on the IMscin001 study results, and the drug is expected to provide more flexibility for patients and help alleviate healthcare system constraints. Halozyme's shares rose 4.10% on the news.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 4:38 pm

UEC

Uranium Energy Corp. has announced the restart of uranium production at its Christensen Ranch In-Situ Recovery operations in Wyoming, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:27 pm

AA

Alcoa Corp (NYSE:AA) is set to release its Q4 earnings on Jan. 17 with expectations of a negative 78 cents EPS and $2.63 billion in revenue. The company, a leader in aluminum production, may benefit from increased aluminum consumption in the green energy sector, potentially leading to a market deficit. Analysts are focusing on Alcoa's ability to navigate demand fluctuations and its alignment with market supply-demand dynamics. The material sector, including Alcoa, is highlighted by Fidelity as one of the top sectors for 2024. However, Alcoa's stock price may not see much upside according to recent analyst ratings, with a consensus price target of $43.16 and current trading at $29.55.

Portfolio Pulse from Surbhi Jain

January 16, 2024 | 4:27 pm

NIO

NIO Inc (NYSE:NIO) shares hit new 52-week lows, continuing a downward trend with nearly 20% losses over the last month. The decline follows a repurchase right notification for its convertible senior notes due 2026 and downgrades from analysts, including Goldman Sachs' price target of $8.40 and BofA's downgrade to Neutral. Tesla's recent price cuts in China, which may increase competition, could also be contributing to selling pressure on NIO. The current average analyst price target for NIO is $27.34, with 11 positive and six neutral ratings.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 4:12 pm

MRK

RHHBY

The FDA has approved Merck & Co Inc's Keytruda for a third indication in cervical cancer, in combination with chemoradiotherapy for certain stages. The approval is based on the Phase 3 KEYNOTE-A18 trial, which showed a 41% reduction in the risk of disease progression or death. Keytruda now has 39 indications in the U.S. and is expected to generate nearly $25 billion in sales in 2023. Merck's stock (MRK) saw a slight increase of 0.01% to $118.64.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 4:10 pm