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Bank of America forecasts the S&P 500 to reach 5,000 points by the end of 2024, a 10% increase from current levels. The bank favors cyclicals over tech giants (Magnificent 7) and expects a maturing economic cycle with increased efficiency and productivity. A 'soft landing' for the U.S. economy is anticipated, with inflation aligning with the Fed's 2% target. Interest rate cuts are expected to start in June 2024. The bank is bullish on Energy, Consumer Discretionary, Financials, and Real Estate sectors, while cautious on Consumer Staples, Health Care, and Technology due to regulatory, valuation, and crowding concerns.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 1:14 pm

AWH

Aspira Women's Health has obtained reimbursement approval for its Ova1Plus test from California Medicaid. The test will be reimbursed at a rate of $897 for all tests meeting the applicable coverage criteria, effective from October 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:11 pm

AMPS

Brightcore Energy has partnered with Altus Power, Inc. (NYSE:AMPS) and Brennan Investment Group on a new community solar project. The project involves installing solar panels across 19 properties, expected to produce 8,993MWh of electricity annually. The 7.5-megawatt rooftop system is set to be completed next month, contributing to significant CO2 emissions reductions. Altus Power's role as a leading clean electric power provider is highlighted, along with the project's alignment with New Jersey's growing community solar program.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:10 pm

NUWE

Nuwellis, Inc. (NASDAQ:NUWE) announced new real-world data showing positive responses in pediatric patients with fluid overload to its Aquadex ultrafiltration therapy with continuous hematocrit monitoring. The study, published in Pediatric Nephrology, demonstrated successful treatment without complications. The therapy is FDA-cleared for use in adults and pediatric patients weighing 20 kg or more. Nuwellis emphasizes the importance of managing fluid overload, which is linked to increased mortality in pediatric patients.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:09 pm

ARCT

Japan's Ministry of Health, Labour and Welfare has approved ARCT-154, a COVID-19 vaccine developed by CSL and Arcturus Therapeutics. This approval could lead to increased demand for the vaccine in Japan and potentially other markets, reflecting positively on the involved companies.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:08 pm

PHAT

Phathom Pharmaceuticals, Inc. has announced the U.S. commercial availability of VOQUEZNA, the first and only FDA-approved potassium-competitive acid blocker (PCAB) for the treatment of Erosive GERD and associated heartburn. VOQUEZNA has demonstrated superiority over lansoprazole in clinical trials and is available through major retail pharmacies and BlinkRx. The company is also preparing to launch VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK for H. pylori infection treatment in mid-December 2023.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:06 pm

EFTR

eFFECTOR Therapeutics has been granted FDA Fast Track Designation for Zotatifin in combination with Fulvestrant and Abemaciclib for the treatment of ER+/HER2- advanced metastatic breast cancer. This designation could expedite the development and review process for Zotatifin, potentially bringing it to market more quickly if it proves to be safe and effective.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:03 pm

ACRV

Acrivon Therapeutics has announced that the FDA has granted a device designation for its ACR-368 OncoSignature Assay, which is used in a Phase 2 trial to predict patient response to the CHK1/2 inhibitor ACR-368 for ovarian cancer. The assay is part of Acrivon's AP3 platform, which aids in drug design and understanding resistance mechanisms.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:03 pm

LQR

LQR House Inc. (NASDAQ:LQR) announced a 1-for-60 reverse stock split effective November 30, 2023, to comply with Nasdaq's minimum bid price requirement. The company's Board of Directors and majority shareholders unanimously approved the measure after a non-compliance notification from Nasdaq. The reverse stock split is intended to increase the per-share price to meet the $1.00 minimum bid price rule. CEO Sean Dollinger emphasized efforts in transparency and growth through partnerships and acquisitions. The split will adjust outstanding convertible securities and no fractional shares will be issued, with all fractions rounded up.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:48 pm

ATHA

Athira Pharma announced a symposium presentation to highlight preclinical study data of ATH-1105 for Amyotrophic Lateral Sclerosis at the upcoming Motor Neurone Disease Association International Symposium.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 12:16 pm