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FE

FirstEnergy Corp.'s subsidiaries, Potomac Edison and Mid-Atlantic Interstate Transmission, have been awarded nearly $800 million in transmission upgrade projects by PJM Interconnection. These projects in Maryland, Pennsylvania, Virginia, and West Virginia aim to enhance reliability, support growing electricity demand, and facilitate new energy resources like wind and solar. The upgrades include a 24-mile transmission line, a line in Frederick and Montgomery counties, and a 36-mile line in Virginia and West Virginia. State and local approvals are pending before construction can begin.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:59 pm

AGFY

Agrify Corporation (NASDAQ:AGFY) reported a significant year-over-year decline in Q2 revenue and gross profit, with revenue dropping 73% to $5.1 million. Despite this, CEO Raymond Chang remains optimistic, citing progress in restructuring the balance sheet, cost reduction, product improvement, and international market certification. Operating expenses decreased notably from $93.1 million to $5.9 million, and net loss improved both sequentially and year-over-year. The company is focused on achieving profitability through further cost reductions and increased efficiency.

Portfolio Pulse from Jelena Martinovic

December 12, 2023 | 3:34 pm

CDXC

Neurohacker Collective has partnered with ChromaDex to launch Qualia NAD+, an NAD+ supplement featuring ChromaDex's patented Niagen ingredient. The product aims to boost NAD+ levels, which are linked to healthy aging and decline with age. A pilot study showed 95% of participants rated Qualia NAD+ as 'excellent' to 'good.' The NAD+ supplementation market is growing, with over half a billion dollars in annual revenue and a projected 13% annual growth rate from 2022 to 2030. Qualia NAD+ includes all three NAD+ precursors and additional ingredients to support NAD+ production. The product is available on neurohacker.com and is expected to expand to additional channels soon.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:31 pm

CNC

Centene Corporation has reaffirmed its 2023 premium and service revenues forecast, maintaining the previously announced range of $137.5 billion to $139.5 billion.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:09 pm

SPY

U.S. Treasury Secretary Janet Yellen, speaking at a Wall Street Journal event, acknowledged that shelter costs are still rising but are expected to decrease over time. She emphasized that the Biden Administration is actively working to reduce prices for consumers.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:58 pm

GOOGL

Google (NASDAQ:GOOGL) is developing a message editing feature for its messaging platform, as reported by The Spandroid. This feature, which includes an editing interface and edit history, was found in the Google Messages beta version. Although not yet operational, it signifies Google's commitment to enhancing user experience, following its achievement of one billion monthly active RCS users in December 2023. Google is also adding an emergency SOS feature to Android 14, similar to the one available on iPhones.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 2:53 pm

SPY

U.S. Treasury Secretary Janet Yellen stated that inflation is significantly decreasing and she sees no reason why it shouldn't return to the Federal Reserve's target. She also mentioned that the labor market remains robust, albeit showing signs of cooling.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:45 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE), in partnership with Toyota Tsusho and Chubu Electric Power Miraiz, is expanding its V2G capabilities in Japan by integrating stationary lithium-ion batteries produced by Nissin Electric Company. These batteries, totaling 30MWh in the Chubu area, will provide additional capacity and stabilizing services to the grid. The integration with Nuvve's GIVe platform allows for complex grid services and demand response, supporting Japan's 2050 carbon neutral goal and green transformation initiatives. Japan's grid expansion plan estimates a cost of $45 to $55 billion by 2050, with the battery market expected to grow significantly. Nuvve's CEO highlights the advanced AI-driven platform's ability to manage EVs and stationary storage batteries, enhancing grid services and Nuvve's growth.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:16 pm

SCLX

Scilex Holding has signed an insurance coverage agreement for ELYXYB with a national PBM for their Medicare population, which could expand the coverage of ELYXYB. ELYXYB is a treatment for acute migraine that has shown effectiveness in clinical studies, providing pain relief in as little as 15 minutes. Clinicians have indicated a need for alternatives to triptan therapy, and ELYXYB aligns with these needs.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:06 pm

EGHT

Ty Inc., the world's leading soft toy manufacturer, has deployed 8x8's XCaaS cloud contact center and unified communications platform to enhance customer engagement, employee communication, and collaboration. The implementation of 8x8's platform has resulted in a yearly savings of $75,000 for Ty, improved flexibility, and provided customers with a popular callback option. The transition, advised by IT consultant Morgan Birge, was completed in just four weeks, enabling Ty to quickly adapt to the new system for immediate customer service improvements.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:05 pm