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GNSS

Genasys has revised its full-year revenue forecast downwards by 15% compared to the previous year. The company has also reduced its Q4 2023 revenue outlook to at least $10M, down from the estimated $13.22M.

Portfolio Pulse from Charles Gross

September 18, 2023 | 11:11 am

BOWL

CHPT

IOVA

MODV

Insiders at four companies, Iovance Biotherapeutics (IOVA), ModivCare (MODV), ChargePoint Holdings (CHPT), and Bowlero Corp (BOWL), have made notable purchases of their companies' stocks. IOVA director Wayne P Rothbaum acquired 5 million shares for around $26.5 million. MODV director Adam Gray bought 330,216 shares for around $10.82 million. CHPT 10% owner Bruce Chizen purchased 500,000 shares for around $2.9 million. BOWL director Alan John Young bought 4,900 shares for around $50,274.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 11:10 am

ELOX

Eloxx Pharmaceuticals has reported independent confirmation of positive biopsy results in all patients treated with ELX-02 in a Phase 2 clinical study for Alport Syndrome. This news could potentially boost the company's stock in the short term.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 11:05 am

GSK

The FDA has approved GSK plc's (NYSE:GSK) Ojjaara (momelotinib) for the treatment of intermediate or high-risk myelofibrosis in adults with anemia. GSK acquired the blood cancer therapy from Sierra Oncology Inc. for $1.9 billion. This comes as a surprise after the European Medicines Agency's human medicines committee recommended not renewing the conditional marketing authorization for Blenrep, another GSK drug. GSK shares are up 1.23% in premarket trading.

Portfolio Pulse from Vandana Singh

September 18, 2023 | 10:54 am

BABA

SFTBY

Alibaba Group Holding Ltd (NYSE:BABA) is reportedly planning a $2 billion investment in Turkey, following a meeting between CEO Michael Evans and Turkey's President. The company has already invested about $1.4 billion in Turkey through its e-commerce marketplace, Trendyol. Alibaba holds a 76.1% stake in Trendyol, which reached a valuation of $16.5 billion in 2021. Other investors in Trendyol include Softbank Group Corp (OTC:SFTBY), General Atlantic, Qatar Investment Authority, and Abu Dhabi sovereign fund ADQ.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 10:47 am

AYX

BITF

CALT

IOVA

KRP

NEGG

NKLA

WULF

Several US stocks recorded gains in Monday's pre-market trading session. Newegg Commerce (NEGG) shares climbed 8.7% after falling 5% on Friday. Iovance Biotherapeutics (IOVA) shares rose 7.2% following FDA's extension of its BLA Priority Review for lifileucel. Bitfarms (BITF) shares gained 6%, Nikola Corporation (NKLA) rose 5.9%, and Alteryx (AYX) shares gained 5.2% after Morgan Stanley upgraded it from Equal-Weight to Overweight. TeraWulf (WULF) shares rose 4.7% following recent production updates. Hyatt Hotels (H) shares climbed 4.7%, Kimbell Royalty Partners (KRP) shares gained 4.6% after closing a $455 million acquisition, and Calliditas Therapeutics (CALT) shares gained 4.5%.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 10:34 am

Hecla Mining Company has updated on the previously reported fire at its Lucky Friday Mine. The fire has been extinguished, normal ventilation has been reestablished, and the workforce has been recalled. However, the incident will suspend production for the rest of 2023. The company does not anticipate a material change to its 2024 consolidated silver production guidance.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 10:16 am

FRT

Mizuho analyst Haendel St. Juste has downgraded Federal Realty Investment (NYSE:FRT) from Buy to Neutral and lowered the price target from $105 to $101.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 10:12 am

CODA

Coda Octopus has reported an increase in the purchase contract value under one of its subsidiary's longstanding key defense programs. This could potentially lead to increased revenues and profitability for the company.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 10:12 am

FLGC

Flora Growth Corp. (NASDAQ:FLGC) has agreed to acquire Australian Vaporizers Pty Limited in an all-stock transaction valued at $1.7 million. The deal, expected to close in Q4 2023, will see Flora exchange 600,676 of its common shares for all issued and outstanding shares of Australian Vaporizers. The acquisition is expected to contribute $5.2 million in annual revenues, $1.2 million in gross margins, and $0.5 million in net income to Flora.

Portfolio Pulse from Charles Gross

September 18, 2023 | 10:08 am