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GLBS

REVG

The article identifies REV Group, Inc. (REVG) and Globus Maritime Limited (GLBS) as overbought stocks in the industrials sector, suggesting they may be overvalued. REV Group reported a Q3 FY23 sales growth of 14.3% YoY to $680 million, beating consensus. Globus Maritime has regained compliance with Nasdaq's minimum closing bid price.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 12:31 pm

SPY

The USA trade balance for August was reported at -$58.30 billion, better than the estimated -$62.30 billion and the prior figure of -$64.70 billion.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:30 pm

SPY

The initial jobless claims for the week came in at 207K, which is lower than the estimated 210K.

Portfolio Pulse from Bill Haddad

October 05, 2023 | 12:30 pm

IPHA

The FDA has placed a clinical hold on Innate Pharma SA's (NASDAQ:IPHA) lacutamab Investigational New Drug (IND), leading to a pause in new patient enrollment in ongoing lacutamab trials. The hold follows a fatal case of a rare blood disorder. However, patients already on the study treatment may continue after being reconsented. Despite the hold, Innate Pharma does not anticipate any delay for the Phase 2 TELLOMAK study as all patients have been recruited. IPHA shares are down 9.72% in premarket trading.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 12:19 pm

HOTH

Hoth Therapeutics has filed articles of incorporation with the State of Nevada for the formation of a new wholly-owned subsidiary, Merveille.ai, on October 4.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:18 pm

SPY

A survey reveals that while Federal Reserve officials assign a zero probability for a recession over the next 12 months, about 84% of CEOs predict a looming recession. The median GDP forecast for 2023 is 2.1%, with a slowdown to 1.5% in 2024 and a pickup to 1.8% in 2025 and 2026. The SPDR S&P 500 ETF Trust (NYSE:SPY) traded up 0.08% at $425 in premarket trading on Thursday.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 12:09 pm

HRMY

Harmony Biosciences (NASDAQ:HRMY) has presented new secondary endpoint data from its Phase 2 study evaluating pitolisant for the treatment of excessive daytime sleepiness in Prader-Willi syndrome. The data showed improvements in behavioral disturbances. The company also announced plans to initiate its Phase 3 registrational TEMPO study in Q4 2023. Pitolisant is marketed as WAKIX® in the U.S. and is FDA approved to treat EDS or cataplexy in adult patients with narcolepsy.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:07 pm

BTTX

Better Therapeutics, Inc. (NASDAQ:BTTX) has announced the publication of the LivVita study's results, which indicate the potential of its digitally delivered Cognitive Behavioral Therapy to address unmet clinical needs in MASLD and MASH. The study met its primary endpoint by reducing liver fat within 90 days and achieved key secondary endpoints related to improved liver health. The company plans to submit a request to the FDA for Breakthrough Device Designation by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:06 pm

EBS

Emergent Biosolutions has received communications from the FDA stating that the inspection classification for its Camden manufacturing facility in Maryland is 'Voluntary Action Indicated' and the inspection is considered 'Closed'.

Portfolio Pulse from Charles Gross

October 05, 2023 | 11:46 am

IRWD

Ironwood Pharmaceuticals (NASDAQ:IRWD) will present new data at the 2023 NASPGHAN Annual Meeting, demonstrating that linaclotide decreased the use of rescue medications in children and adolescents with functional constipation. This builds on previously announced data from the company's pivotal Phase III trial, which led to FDA approval of linaclotide for the treatment of functional constipation in this pediatric population.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 11:34 am