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MORF

Traders are circulating news about Morphic's clinical proof of principle and favorable tolerability profile shown with orally dosed MORF-057 as induction therapy for moderately to severely active UC, according to Phase 2a Emerald-1 study results. Despite the positive news, Morphic's shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 3:37 pm

IMAX

Letko Brosseau, an investment manager controlling about 1.7% of IMAX China Holding, Inc's shares, plans to vote against IMAX Corporation's proposal to take IMAX China private. Letko Brosseau believes the offer undervalues IMAX China and benefits IMAX Corporation at the expense of minority investors. The offer comes as IMAX China is recovering from the COVID-19 pandemic, with all theatres reopened and significant recovery of revenue and profit.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 3:35 pm

PEB

Pebblebrook Hotel Trust's Same-Property revenue per available room (RevPAR) decreased by 1% in August due to Tropical Storm Hilary and Hurricane Idalia. The storms caused cancellations, early check-outs, and one-time repair expenses, reducing hotel revenues by $3.5 million and hotel EBITDA by $2.5 million. However, urban markets like Los Angeles, Washington DC, San Francisco, Boston, and Chicago are showing recovery in demand, driving increases in occupancy and RevPAR.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 3:34 pm

CHT

Chunghwa Telecom's (NYSE:CHT) short percent of float has decreased by 20.0% since its last report, with 277 thousand shares currently sold short. This represents 0.04% of all regular shares available for trading. The average time to cover these short positions, based on trading volume, is 2.57 days. The company's short interest is lower than the average of its peer group, which stands at 2.36%.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 3:30 pm

CQP

Cheniere Energy Partners's (NYSE:CQP) short percent of float has fallen 4.51% since its last report, with 1.09 million shares sold short, which is 2.75% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. Compared to its peers, Cheniere has less short interest as a percentage of float, with the average being 3.62%.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 3:30 pm

VZ

Verizon Communications' (NYSE:VZ) short percent of float has decreased by 6.48% since its last report, with 42.56 million shares sold short, representing 1.01% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Verizon. Compared to its peers, Verizon has less short interest as a percentage of float, with an average of 2.28%.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 3:30 pm

AAPL

Apple Inc has officially launched the iPhone 15, with strong pre-orders and long lines reported in China, Europe, and the U.S. Wedbush analyst Daniel Ives predicts strong market share gains for Apple, with pre-orders tracking 10% to 12% higher than the iPhone 14. Ives also expects strong sales in India and China, and estimates that iPhone units sold could reach 225 million for fiscal 2024. Apple shares are up 1% to $174.93 on Friday.

Portfolio Pulse from Chris Katje

September 22, 2023 | 3:25 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) has seen an 8% reduction in stock value amid labor controversies and strikes led by the United Auto Workers (UAW) against major automakers. Despite this, Tesla's financial outlook remains resilient, with the stock marking a 114% increase over the year.

Portfolio Pulse from Zaheer Anwari

September 22, 2023 | 3:23 pm

BIDU

A significant bullish stance has been taken on Baidu (NASDAQ:BIDU) by a large investor or institution, as indicated by a large position in Baidu's options. The overall sentiment of these big-money traders is split between 73% bullish and 26% bearish. The whales have been targeting a price range from $134.0 to $150.0 for Baidu over the last 3 months. JP Morgan, Susquehanna, Benchmark, and Loop Capital have given price targets of $200, $175, $210, and $190 respectively.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 3:15 pm

MMM

3M Company (NYSE:MMM) has agreed to a $9.62 million settlement with the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) over alleged sales to an Iranian entity. This follows a recent settlement with the SEC. The settlement addresses 54 apparent violations of OFAC sanctions on Iran, involving sales of reflective license plate sheeting products to a reseller for a customer in Iran. 3M shares are trading lower by 0.49% at $97.01.

Portfolio Pulse from Shivani Kumaresan

September 22, 2023 | 3:11 pm