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Bank of America advises investors to avoid increasing exposure to the tech sector due to market volatility and election-related policy uncertainty. Instead, they recommend focusing on defensive stocks for quality, stability, and income. The bank remains underweight on Information Technology, citing overvaluation and potential passive selling pressure due to changes in S&P 500 index-cap rules.

Portfolio Pulse from Benzinga Neuro

September 10, 2024 | 8:56 am

NVDA

SOXX

Nvidia shares are expected to continue their upward trajectory due to strong AI demand, despite recent declines. The stock is considered reasonably valued with significant revenue growth projected. Concerns include potential competition and antitrust issues.

Portfolio Pulse from Shanthi Rexaline

September 10, 2024 | 8:48 am

WKC

World Kinect has approved an additional $200 million share repurchase authorization, adding to the previous $108 million remaining as of June 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 8:43 am

MNOV

MediciNova's MN-166 COMBAT-ALS trial abstract has been accepted for a poster presentation at the 35th ALS/MND Symposium. This development could increase visibility and interest in MediciNova's research efforts.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 8:39 am

DELL

PLTR

Palantir Technologies Inc. and Dell Technologies Inc. are set to join the S&P 500 index, which typically boosts stock performance due to increased trading volume and liquidity. Both companies' leaders, Peter Thiel and Michael Dell, have shown interest in Bitcoin, with Thiel's Founders Fund making significant investments in the cryptocurrency.

Portfolio Pulse from Aniket Verma

September 10, 2024 | 8:17 am

BIOX

Bioceres Crop Solutions reported Q4 sales of $124M, missing the $135.36M estimate, with a net loss of $2.6M, an improvement from a $4.2M loss YoY.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 8:15 am

MCAA

Mountain & Co. I Acquisition Corp. has received a delisting determination from Nasdaq and plans to appeal to maintain its listing. If no appeal is made by September 10, 2024, its securities will be suspended on September 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 8:00 am

AMPG

AmpliTech Group has announced a $1 million registered direct offering, selling 1,369,488 shares of common stock at $0.7302 per share to a single institutional investor.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 7:51 am

IONS

Ionis Pharmaceuticals has announced a public offering of 11.5 million common shares priced at $43.50 each, raising $500.3 million. The proceeds will be used for commercial launches, clinical programs, R&D, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 7:35 am

STEP

StepStone has priced a secondary offering of 4,099,997 shares at $50 per share. The proceeds will be used to purchase shares from certain holders and pay cash upon exchange of units, resulting in no dilution to existing stockholders.

Portfolio Pulse from Benzinga Newsdesk

September 10, 2024 | 7:30 am