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Bitcoin (BTC) traded above $27,000 and Ethereum (ETH) above $1,600. Chainlink (LINK) was the top gainer over the past 24 hours, while Kava (KAVA) was the biggest loser. The global crypto market cap rose to $1.07 trillion, recording a 24-hour gain of 1.2%. BTC was trading higher by 2% at $27,141 while ETH rose by around 0.9% to $1,649.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 1:35 pm

STM

STMicroelectronics Inc.'s (NYSE:STM) shares are currently trading at $43.70, after a 0.14% drop. Despite a fall of 8.21% over the past month, the stock has risen by 21.09% over the past year. The company's P/E ratio is lower than the industry average, which could indicate undervaluation or weak growth prospects.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 1:33 pm

LYFT

The Securities and Exchange Commission (SEC) has charged Lyft Inc. for failing to disclose a board director's role in a shareholder's sale of approximately $424 million worth of private shares of Lyft's stock prior to the company's IPO. The director arranged for a shareholder to sell its shares to a special purpose vehicle (SPV) set up by an investment adviser affiliated with the same director. Lyft approved the sale and secured a number of terms in the contract. Lyft failed to disclose this information in its Form 10-K for 2019. Lyft has agreed to a cease-and-desist order and to pay a $10 million civil penalty.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:17 pm

MDRX

Veradigm Inc. (NASDAQ:MDRX) has announced that it will not be able to file its Annual Report on Form 10-K for the year ended December 31, 2022, or its Quarterly Reports on Forms 10-Q for the quarters ended March 31, 2023, and June 30, 2023, due to ongoing audit procedures related to previously disclosed accounting and internal control errors. The company expects to file these reports in Q4 2023. As a result, it anticipates receiving a delisting notice from Nasdaq but plans to request a hearing to stay any suspension or delisting action. Veradigm has also revised the estimated cumulative impact of the accounting errors down to approximately $20 million and updated its financial guidance for FY23.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:14 pm

CLX

Clorox Co (NYSE:CLX) shares are trading lower after the company disclosed that its operations were impacted by a cyber attack. The company is operating at a lower rate of order processing and is experiencing product availability issues. Clorox anticipates the breach to have a material impact on its Q1 financial results.

Portfolio Pulse from Adam Eckert

September 18, 2023 | 1:12 pm

CCG

PIAI

Cheche Group Inc. and Prime Impact have completed their business combination, with Cheche's Class A ordinary shares and warrants set to begin trading on the Nasdaq under the ticker symbols 'CCG' and 'CCGWW' respectively. The business combination is expected to generate approximately $22.1 million in proceeds for Cheche. The company plans to use the funds to invest in its technology platform, strategic partnerships with leading NEV manufacturers, and growth plans across key segments of the global insurance market.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:12 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) is raising $50 million through a private placement offering of 22.93 million units at $1.09 per unit to strengthen its financial position. The investors also have an over-allotment option to acquire up to an additional 22.93 million units at the same price. The funds are expected to be used for working capital and other general corporate purposes. The news led to a 14.91% drop in Canopy's pre-market share price.

Portfolio Pulse from Nina Zdinjak

September 18, 2023 | 1:10 pm

GODN

Shares of Golden Star Acquisition Corp have resumed trading.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:10 pm

F

GM

STLA

The United Auto Workers (UAW) strike against US auto giants General Motors Co. (GM), Stellantis N.V. (STLA), and Ford Motor Co. (F) enters its fourth day. The UAW has declined a 21% wage hike proposal from Stellantis, and talks with Ford have been reinitiated. The strike could potentially wipe out the annual profit-sharing checks of Detroit’s Big Three. In response to the strikes, the automakers have initiated temporary layoffs. The stocks of the three automakers have shown declines in premarket trading on Monday.

Portfolio Pulse from Piero Cingari

September 18, 2023 | 1:09 pm

RDHL

Redhill Biopharma's shares are trading higher following the announcement of the FDA's sNDA approval for Talicia.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 1:09 pm