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Regulatory

CENN

Cenntro Electric Group has received an order from an Australian court to hold a meeting for shareholders to consider and vote on a proposed scheme. The explanatory statement for the scheme has been approved for distribution to shareholders, and the scheme booklet has been registered with the Australian Securities and Investments Commission (ASIC). The scheme meeting is scheduled for January 24, 2024, at 4:00 pm EST.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:50 pm

LEN

Lennar Corporation has announced that it will not provide guidance on its full-year margin due to the rapidly changing interest rate environment. This decision reflects the uncertainty in predicting costs and pricing in the current economic climate.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:37 pm

ARIS

Aris Water Solutions, Inc. (NYSE:ARIS) has been selected by the Department of Energy to receive a research grant for the treatment and desalination of produced water for non-consumptive agricultural use. The grant acknowledges Aris's efforts in water sustainability in the Permian Basin and supports the expansion of a greenhouse study with Texas A&M AgriLife. The study aims to optimize produced water treatment for agriculture, extract valuable minerals, and evaluate carbon sequestration benefits.

Portfolio Pulse from Happy Mohamed

December 14, 2023 | 9:19 pm

TCNNF

The Georgia Access to Medical Cannabis Commission (GMCC) is considering legal action in response to warning letters from the DEA cautioning pharmacies against dispensing THC. The DEA's warnings have raised concerns about access to medical marijuana (MMJ) in Georgia. Despite this, the GMCC remains committed to implementing the Hope Act and ensuring patient access to MMJ. Over 120 pharmacies have applied to participate in Georgia's program. Legal actions, if any, would be coordinated with the state attorney general's office. A budget rider currently prevents the DOJ from interfering with state MMJ laws. The situation highlights the need for federal cannabis policy updates. Botanical Sciences LLC and Trulieve Cannabis Corp. (OTCQX:TCNNF) are licensed producers in Georgia.

Portfolio Pulse from Joana Scopel

December 14, 2023 | 9:06 pm

MESA

Mesa Air Group Inc has announced that it will not meet the SEC filing deadline for its annual 10-K report for the year ending September 30, 2023. The company is required to file this report with the Securities and Exchange Commission (SEC) and has submitted an NT 10-K form, which is used to notify the SEC of a delay in filing its 10-K.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:01 pm

BZH

CCS

DHI

GRBK

HOV

KBH

LEN

LGIH

MDC

MHK

MHO

MTH

NVR

NWL

SKY

TMHC

TOL

TPH

Homebuilder and housing-related stocks are experiencing an uptick after the Federal Reserve's decision to maintain current interest rates, with anticipation of rate cuts in 2024 as projected by most Fed officials.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 8:56 pm

OSG

Overseas Shipholding Group (OSG) has announced a major upgrade program for its Alaskan Class fleet, to be completed by 2026. The program, in partnership with MAN Energy Solutions, includes engine replacements for better fuel efficiency, advanced control systems, and compliance with Carbon Intensity Indicator regulations. The upgrades, which also make the vessels 'Ready for Methanol', will be done during scheduled drydocking and represent a nearly $100 million investment. Additionally, OSG has amended charterparties for the Alaskan Navigator and Alaskan Legend, extending options through 2035.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 8:35 pm

FCEL

FuelCell Energy Inc (NASDAQ:FCEL) shares surged 11.4% to $1.56 amid overall market strength after the Fed left rates unchanged, with projections of rate cuts in 2024-2026. Lower interest rates benefit capital-intensive industries like renewable energy by reducing borrowing costs, which can lead to more affordable project funding, expansion, and R&D investment. The clean energy sector also reacted positively to COP28's conclusion, signaling a move away from fossil fuels. The Fed's rate decision reflects a cautious approach to future policy adjustments, with a focus on returning to the 2% inflation target.

Portfolio Pulse from Henry Khederian

December 14, 2023 | 8:07 pm

DRIV

General Motors' self-driving unit Cruise is laying off 900 workers, a quarter of its workforce, following the departure of top executives and a series of setbacks including an accident, permit suspension, and production halts. The layoffs raise concerns about Cruise's future and the autonomous vehicle sector. Despite this, the Global X Autonomous & Electric Vehicles ETF (DRIV) has risen 18% since September. GM has reportedly reduced funding for Cruise, which plans a cautious return to service starting in one city.

Portfolio Pulse from Neil Dennis

December 14, 2023 | 8:05 pm

SPY

Senate Majority Leader Schumer has announced that U.S. Senators will vote on a foreign aid supplemental agreement next week. The outcome of this vote could have implications for the broader market and sectors involved in foreign aid and international relations.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 8:04 pm