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AAPL

FXCOF

Foxconn Technology Co., Ltd. (OTC:FXCOF) has received approval to invest an additional $1 billion in its India-based manufacturing plant for Apple Inc. (NASDAQ:AAPL) devices. This raises Foxconn's total investment in the Bengaluru site to approximately $2.7 billion. The move is part of a strategic shift away from China, reflecting economic challenges and U.S.-China tensions. The investment will expand production capacity, potentially including iPhones, and may also support manufacturing of electric vehicle parts for other clients. AAPL shares rose 0.47% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 1:16 pm

INCY

Leerink Partners analyst Andrew Berens has upgraded Incyte (NASDAQ:INCY) from Market Perform to Outperform and set a price target of $78. This upgrade reflects a positive outlook on Incyte's stock performance.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:16 pm

CMI

Cummins Inc. (NYSE:CMI) has experienced a 15.46% increase in short interest since its last report, with 1.58 million shares sold short, representing 1.12% of its float. The short interest is below the peer group average of 4.47%. 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 | 1:15 pm

AEP

American Electric Power (NYSE:AEP) has seen a 13.82% rise in short interest since the last report, with 7.35 million shares sold short, representing 1.4% of available shares. It would take about 2.37 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, AEP has less short interest compared to its peers' average of 2.35%. The article suggests that high short interest does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 1:15 pm

EXC

Exelon Corporation (NYSE:EXC) has seen a 14.18% decrease in short interest since its last report, with 11.43 million shares sold short, representing 1.15% of its float. The trading volume suggests it would take 1.6 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. Exelon's short interest is below its peer group average of 2.36%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 1:15 pm

AAIC

EFC

Arlington Asset Investment announced its intention to voluntarily delist from the NYSE in connection with its anticipated merger with Ellington Financial. The company plans to file a Form 25 with the SEC on December 26, 2023, with the expected last trading day of the Senior Notes on the NYSE being January 5, 2024. No arrangements have been made for the Senior Notes to be listed or registered on another exchange or quoted on another medium.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:09 pm

GDEV

GDEV Inc. issued a statement clarifying that sanctions against former director and current minority shareholder Ivan Tavrin have no direct impact on the company. Tavrin, who holds 5.9% of GDEV's shares through Kismet Sponsor Limited, was added to the U.S. SDN List but does not control or influence the company. GDEV, which resumed trading on Nasdaq in March 2023 after a suspension, emphasizes its commitment to corporate governance and adherence to Nasdaq and SEC standards.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:08 pm

BIRK

EZGO

GCT

GDHG

GOTU

HCDI

KXIN

MICS

QSG

SPGC

XPOF

In Wednesday's pre-market session, several consumer discretionary stocks showed significant movement. EZGO Technologies, QuantaSing Group, LL Flooring Holdings, Xponential Fitness, Gaotu Techedu, and Singing Machine Co were gainers, with EZGO leading at a 13.6% increase. On the losing side, Harbor Custom Dev, Golden Heaven Group Hldgs, GigaCloud Tech, Birkenstock Holding, Sacks Parente Golf, and Kaixin Auto Hldgs saw declines, with Harbor Custom Dev dropping 17.2%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 1:07 pm

ACON

APVO

CCCC

IKT

JAGX

KTTA

LFMD

MOTS

NMRD

RLAY

RSLS

STTK

In Wednesday's pre-market session, several healthcare stocks experienced significant movements. Shattuck Labs (STTK) saw a substantial increase of 92.9%, while Reshape Lifesciences (RSLS) rose by 51.19%. Other gainers included Inhibikase Therapeutics (IKT), C4 Therapeutics (CCCC), LifeMD (LFMD), and Nemaura Medical (NMRD). Conversely, Motus GI Holdings (MOTS), Pasithea Therapeutics (KTTA), Relay Therapeutics (RLAY), Aptevo Therapeutics (APVO), Jaguar Health (JAGX), and Aclarion (ACON) all saw their stock prices fall.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 1:07 pm

NMRD

Nemaura Medical, Inc. has been granted a request for continued listing on the Nasdaq under an exception, according to an 8K filing. The exception allows the company to remain listed until April 1, 2024, providing it time to comply with Nasdaq's listing requirements.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:07 pm