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ARGT

The Argentine peso has plummeted by 54% due to President Javier Milei's economic reforms, which include a drastic devaluation to tackle hyperinflation and a solvency crisis. The official exchange rate soared to 800 pesos per dollar, while the parallel market rate on Binance for the peso and Tether (USDT) is around 1,125 pesos per USD. Finance Minister Luis Caputo announced a series of austerity measures to reduce government spending and increase taxes. Argentine stocks, tracked by the Global X MSCI Argentine ETF (ARGT), dipped slightly in premarket trading but have risen nearly 20% since Milei's election. The IMF has expressed support for these reforms, which align with its recommendations.

Portfolio Pulse from Piero Cingari

December 13, 2023 | 3:11 pm

SPY

The U.S. Securities and Exchange Commission (SEC) is set to hold a meeting to vote on a proposed overhaul of regulations for the $26 trillion Treasury market. The proposed changes include requiring central clearing for all repo transactions and interdealer broker sales and purchases of Treasuries.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:02 pm

LLY

Ro, a direct-to-patient healthcare company, has expanded its Body Program with the launch of Zepbound (tirzepatide), an FDA-approved weight loss treatment from Eli Lilly and Company. Zepbound has shown significant results in clinical trials, helping people lose an average of 48 pounds over 72 weeks. Ro's Body Program offers a comprehensive telehealth weight loss solution, integrating various medications, insurance coverage verification, side effect tracking, and AI learning models. The program also integrates with Apple Health for data sharing.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:54 pm

PCSA

Processa Pharmaceuticals Inc (NASDAQ:PCSA) stock dropped 21.7% to $0.64 after the company discussed its Next Generation Capecitabine (NGC-Cap) for cancer with the FDA. The FDA provided guidance on the Phase 2 study design, protocol, and dosage. Phase 2 enrollment is expected to start in mid-2024, with interim Phase 1b results due by year-end, showing NGC-Cap's improved metabolism and distribution over Capecitabine.

Portfolio Pulse from Henry Khederian

December 13, 2023 | 2:42 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) announced a share consolidation of 1 new share for every 10 old shares to comply with NASDAQ's listing requirements. This follows a non-compliance notice received for a sub-$1 share price. The consolidation is pending TSX approval and is expected to be effective on Dec. 15, with trading on TSX and NASDAQ starting Dec. 20. The company's stock dropped 10.2321% to $0.615 in pre-market trading.

Portfolio Pulse from Jelena Martinovic

December 13, 2023 | 2:39 pm

MSFT

The UK Judicial Office has issued guidance allowing judges in England and Wales to use OpenAI's ChatGPT for writing rulings. The document outlines potential security and legal issues, such as maintaining confidentiality, ensuring accuracy, and preventing bias. The guidance suggests that while AI can be useful for tasks like summarizing text and automating tasks, it may not handle complex legal language well and should not be used for reasoning or comparisons. The judiciary's adoption of AI is cautious due to past incidents where AI, specifically ChatGPT backed by Microsoft Corp. (NASDAQ:MSFT), created fictitious cases.

Portfolio Pulse from Rounak Jain

December 13, 2023 | 2:28 pm

BRPHF

BTCUSD

ETHUSD

Mike Novogratz, CEO of Galaxy Digital, has revised his opinion on Ripple, acknowledging its growth and the dedication of the 'XRP army.' He remains skeptical about Bitcoin's use as a common currency for everyday transactions, citing its lack of widespread adoption for purchases. Novogratz also commented on U.S. fiscal policies and their potential long-term consequences. He expressed doubts about the success of an Ethereum ETF, suggesting that its performance may depend on the inclusion of staking rewards.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 2:27 pm

ICU

SeaStar Medical has been notified by the staff that it has not regained compliance with the market value rule or the alternative criteria, according to an SEC filing on December 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:04 pm

PCSA

Processa Pharmaceuticals has received guidance from the FDA on the design of their upcoming Phase 2 study, which is aimed at advancing their next-generation capecitabine treatment for cancer patients. The company will proceed with pre-study activities for the Phase 2 trial.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:03 pm

ACIW

Banco de la República, Colombia's Central Bank, is partnering with ACI Worldwide (NASDAQ:ACIW) to create a new real-time payments ecosystem as part of a nationwide banking transformation project set to go live in 2025. The project aims to build an interoperable, centralized settlement and addressing services for existing and future payment schemes. This initiative is expected to drive economic growth and financial inclusion in Colombia, with real-time payments transactions projected to increase significantly. ACI Worldwide, a leader in real-time payments software, has a track record of powering 25 domestic and pan-regional real-time schemes globally.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:01 pm