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A Bloomberg survey reveals a bleak outlook for the U.S. office real estate market, with a majority of respondents predicting a severe downturn before recovery. The $1.5 trillion commercial real estate debt due by 2025, particularly the 25% tied to office buildings, is at risk. The Federal Reserve's tightening campaign has increased financing costs and reduced commercial property values. Regional banks, holding about 30% of office building debt, are under stress. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) declined by 0.6% on Monday, reflecting the sector's turbulence. Several U.S. real estate stocks, including CBRE Group Inc. (NYSE:CBRE), Alexandria Real Estate Equities, Inc. (NYSE:ARE), Camden Property Trust (NYSE:CPT), SBA Communications Corp. (NASDAQ:SBAC), Boston Properties Inc. (NYSE:BXP), Vornado Realty Trust (NYSE:VNO), and Kilroy Realty Corp. (NYSE:KRC), have seen significant declines in their values.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 3:51 pm

SNDX

Syndax Pharmaceuticals Inc announced topline data from the AUGMENT-101 trial of revumenib in patients with acute myeloid leukemia and acute lymphoid leukemia. The trial met its primary endpoint with a complete remission rate of 23% among the 57 efficacy evaluable patients. However, the company is stopping the trial to further accrual in the KMT2Ar cohorts based on the Independent Data Monitoring Committee recommendation. SNDX shares are down 9.09% at $13.20.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:51 pm

EFXT

Enerflex has announced a CFO transition, which has led to a decrease in the company's share price.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 3:49 pm

LLY

The FDA has declined to approve Eli Lilly's lebrikizumab biologic license application for the treatment of moderate-to-severe atopic dermatitis (eczema). The decision was based on findings from a third-party inspection of a contract manufacturing organization. The FDA had no concerns about the clinical data package, safety, or label for lebrikizumab. No other Lilly products are affected. LLY shares are down 0.77% in premarket trading.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:46 pm

PANW

Unusual options activity has been observed for Palo Alto Networks (NASDAQ:PANW), with a bearish stance taken by a large investor. The overall sentiment of these big-money traders is 20% bullish and 80% bearish. The whales have been targeting a price range from $135.0 to $310.0 for Palo Alto Networks over the last 3 months. HSBC has downgraded its action to Hold with a price target of $242, while Citigroup and BTIG maintain their Buy rating with price targets of $285 and $292 respectively.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:45 pm

BKNG

A whale investor has taken a bullish stance on Booking Holdings (NASDAQ:BKNG), with 58% of investors opening trades with bullish expectations and 41% with bearish. Whales have been targeting a price range from $1600.0 to $3800.0 for Booking Holdings over the last 3 months. DA Davidson maintains a Neutral rating on Booking Holdings with a price target of $3400, while Argus Research downgraded its action to Buy with a price target of $3677.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:45 pm

COP

A whale investor has taken a bullish stance on ConocoPhillips (NYSE:COP), with 56% of investors opening trades with bullish expectations and 43% with bearish. The whale has been targeting a price range from $65.0 to $135.0 for ConocoPhillips over the last 3 months. The price of COP is currently up 0.4% at $120.28, with RSI indicators suggesting the stock may be approaching oversold. The next earnings are expected to be released in 31 days.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 3:45 pm

ICCM

IceCure Medical Ltd (NASDAQ:ICCM) announced new data validating its ProSense Cryoablation as a safe and effective outpatient procedure for breast cancer with a 96.8% success rate. The study used ProSense for cryoablation treatment of 31 patients with early-stage breast cancer who declined surgery. The company's shares are up 46.40% at $0.79 on the last check Monday.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:44 pm

BTCUSD

DOGEUSD

Several Hollywood celebrities have shown interest in Bitcoin and other cryptocurrencies, with some even launching their own crypto-related ventures. This trend is expected to be a key topic at the upcoming Benzinga's Future of Digital Assets conference. However, celebrity involvement in cryptocurrencies can also introduce volatility, as seen with Elon Musk's influence on Dogecoin.

Portfolio Pulse from Murtuza Merchant

October 02, 2023 | 3:38 pm

NVTA

The FDA has granted de novo approval for Invitae Corporation's Common Hereditary Cancers Panel, a diagnostic test that can detect genetic variants associated with an elevated risk of developing certain cancers. The test, which is the first to be granted FDA marketing authorization, evaluates DNA from a blood sample to identify variants in 47 genes. Invitae tested over 9,000 clinical samples to validate the test's performance, achieving over 99.0% accuracy. The approval also creates a new regulatory classification, allowing future tests of the same type to use the FDA's 510(k) premarket process. Invitae's shares are up 13.70%.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:37 pm