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Bayer AG has been ordered by a Philadelphia jury to pay nearly $3.5 million in damages for its fifth consecutive loss in lawsuits over its Roundup weedkiller. The verdict includes $462,500 in compensatory damages and $3 million in punitive damages. Bayer intends to appeal the decision, maintaining that Roundup's active ingredient, glyphosate, is safe based on scientific evidence and regulatory assessments. The ongoing litigation affects Bayer's financial position and investor confidence, with a previous verdict in November reaching $1.56 billion.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 5:49 pm

Parker Hannifin (NYSE:PH) has seen a 12.2% decrease in short interest since its last report, with 914 thousand shares sold short, representing 0.72% of its float. The average time to cover these short positions is 1.1 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, Parker Hannifin has a lower short interest as a percentage of float, with the peer group average at 3.50%.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 5:46 pm

KLAC

KLA Corporation's (NYSE:KLAC) short interest has increased by 8.07% since the last report, with 2.36 million shares sold short, representing 1.74% of available shares. It would take about 2.43 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. KLA has a lower short interest compared to its peer group average of 6.89%.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 5:46 pm

KHC

Kraft Heinz (NYSE:KHC) has seen a decrease in short interest, with the short percent of float dropping 3.51% since the last report. The company has 19.76 million shares sold short, representing 2.2% of available shares for trading. The current short interest is below the peer group average of 4.98%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 5:46 pm

PHVS

Pharvaris NV (NASDAQ:PHVS) reported positive Phase 2 data for deucrictibant, an oral treatment for hereditary angioedema (HAE), showing an 84.5% reduction in monthly attack rate versus placebo. The FDA had previously placed a clinical hold on the drug in August 2022, which was lifted in June 2023 for on-demand treatment of HAE. The study met its primary endpoint and showed no serious adverse events. Pharvaris also completed an underwritten offering, raising approximately $300 million. PHVS shares rose 28.2% to $26.86.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 5:46 pm

BXMT

Shares of Blackstone Mortgage Trust, Inc. (BXMT) have declined following the announcement by Muddy Waters Research that they have taken a short position in the company.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 5:46 pm

BKR

CNQ

COP

EOG

EQT

FTI

HAL

MPC

RIG

SLB

YPF

Energy stocks are trading lower due to a decline in oil prices, affecting companies like BKR, CNQ, COP, EOG, EQT, FTI, HAL, MPC, RIG, SLB, and YPF.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 5:42 pm

MDB

MongoDB Inc (NASDAQ:MDB) shares dropped despite reporting better-than-expected Q3 results. Analysts from Piper Sandler, Needham, Goldman Sachs, Oppenheimer, and William Blair remain positive, citing strong revenue, new product launches, and GenAI capabilities. Price targets were raised, reflecting optimism about MongoDB's future growth potential, despite current macro headwinds and investor concerns. MDB's stock fell 7.19% to $402.48 following the earnings release.

Portfolio Pulse from Priya Nigam

December 06, 2023 | 5:40 pm

ACGL

CNA

CNFR

FANH

GOCO

HUIZ

KNSL

LMND

RELI

RNR

SLQT

UFCS

In Wednesday's intraday session, insurance stocks saw movement with Reliance Global Group, Fanhua, Huize Holding, SelectQuote, GoHealth, and Lemonade experiencing gains, while Kinsale Cap Gr, RenaissanceRe Holdings, CNA Financial, United Fire Gr, Arch Capital Group, and Conifer Holdings faced losses. The changes in stock prices were accompanied by trading volumes that were in line with their respective average full-day volumes over the last 100 days.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 5:40 pm

LCID

SIRI

Sirius XM Holdings Inc (SIRI) and Lucid Group, Inc. (LCID) have announced that SiriusXM Canada's audio-streaming service is now available to all new Canadian Lucid Air owners. The service will be offered as an optional subscription across the Lucid Air lineup, with a three-month trial included. Lucid Air models include the Lucid Sapphire, Grand Touring, Touring, and Pure. SiriusXM's service features ad-free, expertly curated music channels and personalized recommendations. Lucid's SVP of Digital, Michael Bell, expressed excitement about enhancing the audio experience for Lucid customers. LCID shares saw a 7.64% increase to $4.51.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 5:39 pm