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DG

PINS

QQQ

SPY

Traders are cautiously optimistic about a potential pause in rate hikes by the Federal Reserve, which could trigger a relief rally. The S&P 500 and Nasdaq futures edged higher in anticipation. Stocks were pressured on Tuesday due to a surge in bond yields, elevated oil prices, and anxiety about the Fed decision. In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.18% and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.14%. Pinterest, Inc. (NYSE:PINS) climbed over 3% in premarket trading after JPMorgan raised the price target for the stock, while Dollar General Corp. (NYSE:DG) fell about 2% in reaction to a downgrade by JPMorgan.

Portfolio Pulse from Shanthi Rexaline

September 20, 2023 | 11:04 am

SEEL

Seelos Therapeutics has announced topline data from the SLS-002 Phase 2 study, showing clinically meaningful treatment effects across multiple endpoints. The study also demonstrated a well-tolerated safety profile for acute suicidal ideation and behavior in major depressive disorder.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:04 am

GIS

General Mills has reaffirmed its sales growth forecast of 3% - 4% and adjusted EPS growth of 4% - 6% for FY24.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:03 am

CSIQ

Canadian Solar Inc. (NASDAQ:CSIQ) has secured approximately 4 GWp of solar module contracts during the 2023 RE+ show in Las Vegas. The contracts will be serviced by its upcoming Texas factory and its expanded Thailand module factory. The company also launched EP Cube Lite, a product that received a positive market response, resulting in hundreds of new system orders.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:03 am

RGLS

Regulus Therapeutics has announced topline results from the first cohort of its Phase 1B MAD study of RGLS8429 for Autosomal Dominant Polycystic Kidney Disease, showing a statistically significant increase in urinary polycystin 1.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:02 am

ETHUSD

SHIBUSD

Shiba Inu (SHIB) has been engaging in token burning, a process of permanently removing a coin or token from circulation, to increase the value of the remaining tokens. This process was initiated when Ethereum co-founder Vitalik Buterin burned 90% of his SHIB holdings, causing a surge in Shiba Inu prices. The act of burning tokens can create a sense of scarcity, control inflation, and drive up demand. However, massive token burns alone may not significantly impact the price without continuous and substantial token purchases used for burning. At the time of writing, SHIB was trading at $0.000007382, up 1.34% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

September 20, 2023 | 10:50 am

CZOO

Cazoo Group Ltd (NYSE:CZOO) has entered into a transaction support agreement with noteholders and shareholders, representing more than 75% of its $630 million aggregate principal amount of 2.00% Convertible Senior Notes due 2027 and more than 25% of outstanding shares. The transactions will significantly deleverage the company's capital structure and are expected to improve its financial flexibility. The transactions are expected to close in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:49 am

COTY

Coty Inc. has increased its like-for-like sales growth outlook for the first half of fiscal year 2024 to 10%-12%, up from the previous estimate of 8%-10%.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:47 am

SPRC

SciSparc has announced a 1-for-26 reverse share split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:30 am

AIU

CART

NKLA

RVNC

SPRY

TM

Several stocks recorded losses in Wednesday's pre-market trading session. ARS Pharmaceuticals shares dipped 46.8% after the FDA requested additional study for its neffy® Epinephrine nasal spray. Revance Therapeutics shares declined 5.8% following the company's plan to exit the OPUL payments business. Instacart shares fell 4.4% despite pricing its IPO at the top end of the expected range. Meta Data Limited, Nikola Corporation, and Toyota Motor Corporation also experienced declines.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 10:23 am