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PCG

PG&E Corporation (NYSE:PCG) has experienced a 29.84% increase in short interest since its last report, with 52.44 million shares sold short, representing 2.48% of its float. The short interest is higher than the peer group average of 2.29%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 5:30 pm

VRTX

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) announced positive results from a Phase 2 study of VX-548, a non-opioid treatment for diabetic peripheral neuropathy. The study showed that all doses of VX-548 led to statistically significant and clinically meaningful reductions in pain. The treatment was well tolerated, and sustained pain reductions were observed from the first week. Vertex is also conducting a second Phase 2 study for peripheral neuropathic pain and has three Phase 3 studies for acute pain expected to report in Q1 2024. VRTX shares rose 11.02% to $397.16.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 5:30 pm

AMZN

COST

MSFT

Jeff Bezos, founder of Amazon.com, Inc. (NASDAQ:AMZN), is known for his private lifestyle in the elite Hunts Point neighborhood near Seattle. Despite owning a $37.5 million property and additional homes for staff, Bezos is rarely seen at community events, unlike other billionaire residents such as former Microsoft CEO Steve Ballmer and Costco co-founder James Sinegal. Bezos' security and staff are, however, a visible presence in the area. Bezos has announced a move to Miami to be closer to his family, leaving behind a significant real estate portfolio in Seattle.

Portfolio Pulse from Adam Eckert

December 13, 2023 | 5:28 pm

RBLX

Roblox Corp (NYSE:RBLX) stock rose after Wells Fargo analyst Ken Gawrelski initiated coverage with an Overweight rating and a price target of $49, citing advertising upside and a strong free cash flow projection. The company's engagement with pop culture, demonstrated by Nicki Minaj's collaboration, and its Investor Day highlights, including advertising strategies and bookings growth, support the positive outlook. RBLX shares were up 1.71% at $42.76.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 5:23 pm

MA

V

U.K. regulators are considering capping fees charged by Visa Inc (V) and Mastercard Inc (MA) to local merchants for card transactions. Since Brexit, these fees have risen up to five times, with credit card fees reaching 1.5%. The Payment Systems Regulator (PSR) suggests returning to pre-Brexit levels of 0.3% for credit cards and 0.2% for debit cards. Visa and Mastercard dispute the PSR's claims, arguing the value of their services in a competitive market. U.S. merchants paid $160.7 billion in swipe fees in 2022, a 16.7% increase from 2021.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 5:20 pm

COSUSD

Investment research platform Token Metrics has highlighted five utility tokens poised for growth in the next crypto bull run. These tokens, integral to their respective ecosystems, offer innovations in Web3, content creation, scalability, cross-chain transfers, perpetual trading protocols, and DeFi market making. The tokens mentioned are Contentos (COS), Airchains, Connext (NEXT), Equation (EQU), and Circuit Trade.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 5:19 pm

CLF

MT

X

Shares of United States Steel Corporation (NYSE:X) are rising after receiving multiple bids over $40 a share. The board is meeting to discuss the offers, with no guarantee of an announcement following the meeting. The sale process began after a rejected $7.3 billion bid from Cleveland-Cliffs Inc (NYSE:CLF). Arcelor Mittal (NYSE:MT) is also a bidder, with a potential all-cash offer of $45 per share. X shares are up 4.81% to $38.14.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 5:19 pm

PGTI

PGT Innovations Inc, a U.S. manufacturer of doors and windows, has rejected a $2.2 billion acquisition offer from Miter Brands, backed by Koch Industries. The offer of $38 per share was a 66% premium over PGT's share price before the adoption of a poison pill in March. PGT, with a market cap of $1.9 billion, saw a 28.5% increase in net sales in 2022. There is no certainty that Miter will succeed in acquiring PGT, despite considering raising its offer.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 5:15 pm

GLASF

Glass House Brands (OTC:GLASF) completed a $15 million Series D preferred stock offering, including $4.1 million in new capital. The funds will accelerate the retrofitting of Greenhouse 5 at SoCal Farm and strengthen the company's financial position. Investors receive a 15% annual cash dividend for the first five years, increasing to 20% thereafter, and 200 warrants per $1,000 share. Insiders participated in the offering, subscribing to 70 shares and receiving 14,000 warrants. CEO Kyle Kazan highlighted the company's strong cash flow and the expected benefits from the retrofit, with planting in Q1 2024 and sales by Q2 2024. The proceeds will also go towards Greenhouse 1 nursery expansion, working capital, and general corporate purposes. GLASF's stock was up 1.74% at $4.69 at the time of reporting.

Portfolio Pulse from Patricio Liddle

December 13, 2023 | 5:15 pm

AMD

INTC

NVDA

Nvidia Corp (NVDA) is facing challenges due to U.S. government restrictions on exporting its most advanced AI chips to China. While Nvidia can still sell GPUs for commercial AI applications in China, the launch of its powerful H20 model is delayed until next year. The company is also releasing a new driver for gaming enhancements. Intel Corp (INTC) and Advanced Micro Devices, Inc (AMD) are also mentioned as facing similar challenges due to the export bans.

Portfolio Pulse from Anusuya Lahiri

December 13, 2023 | 5:13 pm