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Regulatory

VZIO

WMT

Walmart Inc (NYSE:WMT) plans to refile its acquisition documents for Vizio Holding Corp (NYSE:VZIO) after withdrawing its initial filing to allow more time for antitrust review. The over $2 billion deal aims to enhance Walmart's advertising revenue and customer services by leveraging Vizio's expertise in TVs, advertising, and streaming. The refiling follows discussions with the Federal Trade Commission and the Department of Justice, with a new waiting period set to expire on April 29, 2024.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 12:28 pm

AVTX

GCTS

MLKN

RH

RH shares surged 9.4% in pre-market trading after releasing Q4 results and an upbeat full-year 2024 forecast, despite weaker-than-expected Q4 results. Other stocks showed significant movement in pre-market trading, with notable gainers including Avalo Therapeutics and Binah Capital Group, and losers like GCT Semiconductor Holding and MillerKnoll.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 12:21 pm

BTCUSD

The upcoming Bitcoin halving in April 2024 is expected to boost ETF opportunities in the cryptocurrency sector, according to a report by Canaccord Genuity. The halving, which reduces miner rewards by 50%, along with the approval of spot exchange-traded funds (ETFs) and a growing risk appetite, contributed to a 60% increase in Bitcoin's value in Q1 2024. The SEC's approval of 11 U.S. spot Bitcoin ETFs is seen as a positive development, potentially making spot ETFs a significant factor in Bitcoin's price action. However, the traditional impact of the halving may be diminishing due to the influx of institutional demand through Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 12:17 pm

CC

NDIV

TINT

Chemours Company (NYSE:CC) shares dropped premarket after announcing the completion of an internal audit revealing delayed payments, accelerated receivables, and material weaknesses in financial reporting. Despite these issues, Q4 FY23 results exceeded expectations with net sales of $1.36 billion and adjusted EBITDA of $176 million. The company expects Q1 2024 net sales to be flat or slightly down and adjusted EBITDA to decrease by about 10%. Chemours also received court approval for a $592 million settlement of PFAS-related claims.

Portfolio Pulse from Lekha Gupta

March 28, 2024 | 12:16 pm

RVPH

Reviva Pharmaceuticals Holdings, Inc. (RVPH) is set to present the Phase 3 clinical trial data for Brilaroxazine, its treatment for schizophrenia, at the SIRS 2024 Annual Meeting on April 4. This marks a significant milestone in the development of Brilaroxazine and could have implications for its future commercial potential.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:07 pm

LPCN

Lipocine Inc. announced positive week 52 results from its LPCN 1148 Phase 2 study in patients with cirrhosis, meeting both primary and hepatic encephalopathy endpoints. This marks a significant milestone in the development of LPCN 1148 for treating cirrhosis.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:02 pm

CC

Chemours shares are trading lower after the company disclosed the identification of four material weaknesses in its internal control over financial reporting.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:42 am

CC

QQQ

RH

SPY

Wall Street is poised for a muted open as caution prevails ahead of key inflation data release. The S&P 500 hit a record high in the previous session, but futures indicate a flat open. Analysts recommend buying opportunities in any pullback, citing strong market fundamentals and historical performance. Key economic data releases are scheduled, including jobless claims and GDP estimates. In premarket trading, SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw slight declines, while RH shares rose post-earnings, and Chemours Company fell after financial revisions.

Portfolio Pulse from Shanthi Rexaline

March 28, 2024 | 11:41 am

ERIC

Ericsson announced on March 28, 2024, that the US Department of Justice has certified its anti-corruption compliance program as meeting requirements and functioning effectively.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:30 am

AKBA

Akebia Therapeutics' stock price increased following the FDA's approval of Vafseo tablets, a treatment for anemia caused by chronic kidney disease in adults on dialysis.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:24 am