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Stock Prices

BABA

FXI

MCHI

TCEHY

Foreign investors have withdrawn $29 billion from Chinese equity markets in 2023 due to growth concerns and real estate sector losses. The Shanghai Composite, China A50, and Hang Seng indices have all seen significant declines. BlackRock's iShares MSCI China ETF (MCHI) and iShares China Large-Cap ETF (FXI) have also experienced substantial drops in value. The People's Bank of China (PBoC) is under new oversight and is attempting to support the economy. Fund managers consider China's real estate sector a potential source for systemic credit events, and short-selling on Chinese equities has become a crowded trade. New York-listed Chinese stocks like Tencent (TCEHY) and Alibaba (BABA) have also seen their values decrease this year.

Portfolio Pulse from Neil Dennis

December 28, 2023 | 3:23 pm

SIDU

Sidus Space shares resumed trading after a circuit breaker halt, with the stock surging by 55%. The halt was likely triggered by a rapid increase in the stock price, which is a mechanism designed to prevent excessive volatility and give investors time to assess information.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:22 pm

SIDU

Sidus Space (NASDAQ:SIDU) concludes 2023 with significant achievements, including expanding services, securing new customers, and completing testing for the Q1 2024 launch of LizzieSat on SpaceX's Transporter-10. The company has also expanded its technology through acquisitions and partnerships, and is preparing for growth in 2024 with a focus on LEO and Lunar opportunities, expecting increased revenue from subscription customers and additional satellite launches.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:21 pm

MBOT

Microbot Medical Inc (NASDAQ:MBOT) shares surged after announcing the completion of its GLP pivotal pre-clinical study, meeting all objectives. The successful study of the LIBERTY Endovascular Robotic Surgical System under FDA guidelines has paved the way for human clinical studies, with an IDE application to the FDA forthcoming. The stock's rise is also attributed to trending on social platforms and possible retail trading activity.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 3:19 pm

CING

Cingulate Inc. shares have risen following the announcement that the company received guidance from the FDA on its CTx-1301 clinical program. The company anticipates submitting the New Drug Application (NDA) for CTx-1301 in the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:18 pm

MBOT

Microbot Medical's stock is trading higher following the announcement of the completion of its GLP pivotal pre-clinical study.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:17 pm

PENN

PENN Entertainment's stock is trading higher following the announcement that HG Vora Capital Management has acquired a 9.6% stake in the company. HG Vora has also requested the right to appoint qualified directors to PENN's board to maximize the company's potential.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:13 pm

ZJYL

Jin Medical International Ltd. received a notice from Nasdaq for non-compliance with Listing Rule 5550(a)(3) due to insufficient public holders. The company failed to present a compliance plan, leading Nasdaq to initiate delisting procedures. Trading suspension is stayed pending a hearing on March 14, 2024, where the company must prove its ability to comply with listing requirements. Jin Medical is reviewing options to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:06 pm

R

UNP

Union Pacific (NYSE:UNP) is distributing a dividend of $1.30 per share today, with an annualized yield of 2.37%. The company has shown a positive trend with an increase in dividend per share from $3.70 in 2019 to $5.08 in 2022, and earnings growth from $8.49 to $11.35 per share over the same period. This suggests strong financial health and potential for continued profit distribution to shareholders. Union Pacific's dividend yield is competitive within its industry, with Ryder System (NYSE:R) having a slightly higher yield at 2.43%.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 3:05 pm

SELF

UNIT

Global Self Storage (NASDAQ:SELF) is set to distribute a dividend of $0.07 per share on December 28, 2023, with an annualized yield of 6.33% for shareholders recorded before December 14, 2023. The company has shown a positive trend in dividend per share growth from $0.26 in 2019 to $0.28 in 2022, and earnings per share growth from $0.17 to $0.43 over the same period. This suggests a healthy financial status and potential for continued dividend payouts. Uniti Group (NASDAQ:UNIT) has a higher annualized dividend yield of 10.31% compared to Global Self Storage.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 3:05 pm