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BofA Global Research analyst Michael J. Funk upgraded Unity Software Inc. (NYSE:U) to Buy from Neutral, raising the price target to $56 from $46. The upgrade is based on improved monetization of Unity's mobile game creation engine and a stabilizing mobile game advertising market. Funk projects incremental revenue of $77 million and $93 million in 2025 from Unity's runtime fees and the retiring of Plus, respectively.

Portfolio Pulse from Nabaparna Bhattacharya

September 15, 2023 | 4:43 pm

AVTX

FFIE

IOVA

NVX

PTCT

Several stocks experienced significant price movements in Friday's mid-day session. Novonix Limited's shares rose by 27.4% after the company announced it achieved high-performance battery grade synthetic graphite production milestones. Iovance Biotherapeutics' shares jumped 20.8% after the FDA extended its BLA Priority Review for lifileucel. Faraday Future Intelligent Electric's shares gained 19.5% after announcing a new car delivery. On the other hand, Avalo Therapeutics' shares fell 31.6% after agreeing to divest AVTX-800 series. PTC Therapeutics' shares fell 31.6% after receiving a negative opinion on the conversion of the conditional marketing authorization to full marketing authorization of Translarna.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 4:40 pm

LNN

Lindsay Corporation's shares are trading lower following a downgrade by Stifel from Buy to Hold. Stifel also lowered its price target for Lindsay from $146 to $135.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:38 pm

QSG

QuantaSing reported its Q4 financial results, leading to a decrease in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:37 pm

ACB

CGC

Cannabis stocks are trading higher due to optimism about the potential passage of the SAFE Banking Act in the Senate.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:37 pm

AYRO

AYRO Inc. has announced a reverse stock split of its common stock at a ratio of 1 post-split share for every 8 pre-split shares. The common stock will begin trading on a split-adjusted basis from September 18.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:36 pm

MITK

Mitek Systems reported its Q2 financial results, which led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:32 pm

IOVA

LIFW

NVX

PTCT

RFIL

VLCN

US stocks traded lower with the Nasdaq Composite falling more than 1%. Industrial production in the U.S. rose 0.4% from a month ago in August, above market estimates of a 0.1% growth. Novonix Limited (NVX), Iovance Biotherapeutics, Inc. (IOVA), and MSP Recovery, Inc. (LIFW) saw their shares rise, while RF Industries, Ltd. (RFIL), Volcon, Inc. (VLCN), and PTC Therapeutics, Inc. (PTCT) experienced a drop in their shares.

Portfolio Pulse from Lisa Levin

September 15, 2023 | 4:31 pm

PPG

PPG Industries' (NYSE:PPG) short percent of float has risen 50.0% since its last report, with 2.47 million shares sold short, which is 1.05% of all regular shares available for trading. It would take traders 2.07 days to cover their short positions on average. An increase in short interest can indicate a bearish market sentiment. However, PPG Industries has less short interest than most of its peers, with an average of 3.82%.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 4:30 pm

ABBV

Over the past 10 years, AbbVie (NYSE:ABBV) has outperformed the market by 2.52% on an annualized basis, producing an average annual return of 12.45%. If an investor had bought $1000 of ABBV stock 10 years ago, it would be worth $3,196.94 today.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 4:30 pm