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A recent headline from Benzinga stating that U.S. President Biden is considering depleting the Strategic Petroleum Reserve was incorrectly attributed to The Wall Street Journal and did not originate from President Biden.

Portfolio Pulse from Charles Gross

September 20, 2023 | 11:26 am

ACN

MSFT

PSO

ZUO

Pearson Plc has appointed Omar Abbosh, current President of Microsoft Corporation's Industry Solutions business, as its new CEO and Executive Director, effective early 2024. Abbosh will succeed Andy Bird, who is retiring. Prior to Microsoft, Abbosh held senior leadership roles at Accenture Plc. He also serves on the board of Zuora, Inc. The appointment follows a shareholder revolt over Bird's pay and concerns about the impact of AI on the business.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 11:25 am

DB

PM

Philip Morris International Inc is considering selling a stake in its UK-based Vectura pharmaceuticals unit. The tobacco company is exploring options to make the business work, including selling a majority or minority stake, a licensing or royalties deal, or a commercial partnership. The company faced challenges over the summer, incurring a $680 million charge related to its wellness and healthcare sector. Philip Morris is reportedly in talks with Deutsche Bank AG to strategize ways to boost its wellness and healthcare unit.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 11:18 am

SWBI

Smith & Wesson Brands has authorized a repurchase of up to $50M of its common stock through September 19.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:14 am

GLD

SPY

UUP

US stock markets closed lower on Tuesday, September 19, as the Federal Reserve began its two-day monetary policy meeting. Housing starts dropped 11.3% in August, while building permits increased 6.9%. The Dow Jones, S&P 500, and Nasdaq Composite all recorded declines. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Exchange all recording losses. However, the European STOXX 600 index, Germany's DAX, France's CAC 40, and the U.K.'s FTSE 100 all traded higher. Crude Oil WTI and Brent were trading lower, while Natural Gas, Gold, Silver, and Copper all fell. Dow futures, S&P 500 futures, and Nasdaq 100 futures all rose.

Portfolio Pulse from Akanksha Bakshi

September 20, 2023 | 11:05 am

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