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U.S. stock futures indicate a weak opening as investors react to Fed Chair Powell's comments on potential policy tightening. Gold prices hit record highs amid geopolitical tensions, while Bitcoin soars past $40,000. Crude oil prices drop due to OPEC+ output cuts and demand concerns. Premarket trading sees SPY and QQQ ETFs down, while individual stocks like COIN, UBER, SPOT, SAIC, and ALK show significant movements. ALK's planned acquisition of HA causes a surge in HA's stock.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 2:14 pm

SNES

SenesTech, Inc. (NASDAQ:SNES) has announced that its ContraPest products are now registered for sale and use in Puerto Rico. ContraPest is an EPA-registered rat contraceptive that affects both male and female rats and is designed to fit into integrated pest management programs. The company is finalizing plans with a large agricultural firm in Puerto Rico to be its lead customer. SenesTech offers four fertility control products, including the Ultimate Bait System, Isolate Bait System, Elevate Bait System, and Evolve Soft Bait. The registration in Puerto Rico is expected to help combat the significant rat infestation problem on the island, which impacts the grain industry and poses public health risks.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:09 pm

SCLX

Scilex Holding Company has announced that ZTlido has been added as a preferred agent to the Medicaid Preferred Drug List in the state of Tennessee. This inclusion could potentially increase the accessibility and usage of ZTlido, which may have a positive impact on Scilex's financial performance.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:04 pm

STIM

Neuronetics announced that its NeuroStar TMS therapy system has received expanded regulatory approval in Japan, potentially broadening its market and usage in the country.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:57 pm

IVV

SPXL

SPY

UPRO

VOO

The S&P 500 experienced its second-best November since 1980, rallying 8.9%. ETFs tracking the index, such as SPY, IVV, and VOO, mirrored these gains. Factors contributing to the rally included declining bond yields, solid earnings, expectations of Fed policy easing, and seasonal trends. Leveraged ETFs like SPXL and UPRO saw even greater returns, around 25%. Market optimism is high, with expectations of continued gains over the next six months, supported by technical analysis showing the SPY ETF moving above its 200-day SMA.

Portfolio Pulse from Surbhi Jain

December 04, 2023 | 1:57 pm

SWX

Southwest Gas Holdings, Inc. (NYSE:SWX) announced plans to pursue an IPO of Centuri Holdings in spring/summer 2024. The IPO aims to separate Centuri as an independent utility infrastructure services company, maximizing value for Southwest Gas shareholders. The IPO is subject to market conditions, SEC review, and Board approval. Proceeds will repay Centuri's debt, enhancing financial flexibility. Southwest Gas may reduce its Centuri ownership post-IPO through market sales or exchange offers, and has a $932.8 million NOL carryforward to offset potential taxable gains.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:38 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

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

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