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New York has seen significant growth in its cannabis industry, with nearly 6,200 licenses issued last year. Several new cannabis shops have opened in NY, with The Flowery, The Herbal Care, and Verona Collective among them. Orange County Cannabis also launched sales. Ascend Wellness Holdings opened a new store in Ohio, Jushi Holdings relocated a dispensary in Pennsylvania, and Verano Holdings opened a new location in Florida. Experts suggest cannabis stocks are now poised for growth, with Benzinga PotProfits highlighting recent gains in cannabis stocks such as GTBIF, TCNNF, and VFF.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 1:52 pm

VZ

Verizon Communications Inc. (NYSE:VZ) has agreed to a $100 million settlement in a class-action lawsuit regarding undisclosed 'Administrative and Telco Recovery Charges.' Eligible current and former Verizon subscribers can file claims on the settlement website until April 15, 2024, to receive compensation between $15 and $100. Verizon denies wrongdoing but has settled to avoid further litigation.

Portfolio Pulse from Rounak Jain

January 16, 2024 | 1:42 pm

MLSS

Milestone Scientific Inc. (NYSE:MLSS) CEO Arjan Haverhals provided a shareholder letter updating on the commercialization and reimbursement status of CompuFlo technology. The company has received FDA clearance for expanded use, established advisory sites across the US, and reported a 100% success rate in patient procedures with zero dural punctures. Claims submitted using the new CPT code 0777T have been accepted by payor systems, with one-third receiving positive reimbursement, mostly from commercial payors and Medicare. The company plans to increase the number of CompuFlo providers and continue engaging with payors for consistent coverage.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:42 pm

BMRA

Biomerica Inc. reported an improvement in its Q2 2024 earnings per share (EPS) to $(0.09) from $(0.12) year-over-year (YoY). The company also saw a revenue increase to $1.6 million from $1.5 million YoY.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:42 pm

IDCC

InterDigital forecasts Q1 2024 adjusted EPS to be between $2.50 and $3.00. The company expects revenue to range from $245 million to $255 million, which includes approximately $152 million to $160 million in catch-up sales.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:41 pm

DBGI

Digital Brands Group (DBGI) has signed a letter of intent to open a retail store in March, with an expectation that the store will generate over $1.5 million in annual revenue.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:36 pm

PGY

Pagaya Technologies Ltd. has announced that its full-year 2023 network volume is expected to surpass the higher end of its previously forecasted range of $8 billion to $8.2 billion.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:29 pm

COYA

Coya Therapeutics has expanded its pipeline for COYA 302 to include treatments for Frontotemporal Dementia and Parkinson's Disease, due to the shared inflammatory pathways and Treg cell dysfunction in these diseases. COYA 302 is a combination immunotherapy targeting multiple pathways, potentially overcoming the immune challenges in these conditions. The company reassures its cash runway into 2026 and provides a positive update on milestones and catalysts for 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:27 pm

AMSC

AMSC has received an $8 million order for 3 MW class wind turbine electrical control systems from Inox Wind. The order is a follow-on, with immediate delivery requested, and shipments expected throughout 2024. This order reflects the growing Indian wind market, where AMSC has been active for over a decade. AMSC's 3 MW class wind turbine design is certified to operate up to 3.3 MW under specific conditions, and under an exclusive license agreement, AMSC will be the sole ECS supplier for Inox's 3 MW class wind turbine in India.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:25 pm

AAPL

AMZN

GOOGL

IWM

META

MSFT

NVDA

SPY

TSLA

Institutional investors are optimistic about the U.S. economy avoiding a recession in 2024, with a majority expecting a soft or no landing. The 'Magnificent Seven' tech giants (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla) are seen as a crowded but promising trade, especially with anticipated rate cuts by the Federal Reserve. Investors are also favoring U.S. equities, particularly small caps, as evidenced by the Russell 2000's outperformance compared to the S&P 500. The BofA survey shows a low expectation of a hard landing, with the Federal Reserve and corporate earnings being key market drivers for 2024.

Portfolio Pulse from Neil Dennis

January 16, 2024 | 1:25 pm