Latest news for  (OTC:AFFS) Stock

HC Wainwright &amp; Co. analyst Emily Bodnar maintains Purple Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBT#NASDAQ">PPBT</a>) with a Buy and lowers the price target from $10 to $8.

News

Price Target

Analyst Ratings

PPBT

HC Wainwright & Co. Maintains Buy on Purple Biotech, Lowers Price Target to $8

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Roivant Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>) with a Buy and maintains $18 price target.

Reiteration

ROIV

HC Wainwright & Co. Reiterates Buy on Roivant Sciences, Maintains $18 Price Target

Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are trading higher premarket Thursday. The company secured a 25-megawatt (MW) order for its proton exchange membrane (PEM) electrolyzer systems from oil companies BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and Iberdrola S.A.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IBDSF#OTC">IBDSF</a>) <a target="_blank" href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Contracts-with-bp-and-Iberdrola-Joint-Venture-to-Supply-25-MW-of-PEM-Electrolyzers-for-bps-Castelln-Refinery-Project-in-Valencia-Spain/default.aspx" rel="noreferrer noopener">joint </a>venture, Castellón Green Hydrogen S.L.
The project will use five 5 MW containerized PEM electrolyzers to decarbonize BP&#8217;s Castellón refinery in Valencia, Spain and is expected to reduce CO2 emissions by 23,000 tons annually.
Plug&#8217;s electrolyzers will be deployed in a project led by BP and Iberdrola to produce green hydrogen, replacing a portion of the refinery&#8217;s current gray hydrogen, which is generated from natural gas.
This partnership with BP marks the start of a long-term collaboration to decarbonize operations, with potential expansion up to 2 gigawatts of electrolysis capacity.
Plug CEO Andy Marsh said, &#8220;The selection of Plug&#8217;s technology for this project serves as a clear example of our established industry expertise and proven technology.&#8221;
&#8220;Industry experts have highlighted the immense market potential for green hydrogen in Europe as being a key factor for reaching European Union decarbonization targets. This presents a significant opportunity for Plug, and we have the market knowledge and technology readily available to make a substantial impact.&#8221;
This month, Plug Power won a contract to support 25 MW of PEM electrolyzers for H2DRIVEN&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40834851/plug-power-secures-contract-with-h2driven-for-25-mw-electrolyzers-enhancing-green-methanol-proje" rel="noreferrer noopener">green methanol project in Portugal</a>.
The contract will provide Technical Evaluation Phase support for 25 megawatts of Proton Exchange Membrane Electrolyzers during the Front End Engineering Design process for a green methanol project in Portugal.
Apart from this, the company received a $10 million grant from the U.S. Department of Energy to scale its HYPER-Fuel project, which focuses on advanced hydrogen refueling infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40735452/whats-going-on-with-plug-power-stock-today" rel="noreferrer noopener">for medium and heavy-duty vehicles</a>.
This funding is part of the DOE&#8217;s $62 million investment in 20 projects across 15 states to advance next-generation clean hydrogen technologies.
Investors can gain access to the stock via&nbsp;Global X Hydrogen ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
Price Action: PLUG shares are up 5.24% at $2.21 premarket at the last check Thursday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low" target="_blank" rel="noreferrer noopener">Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: &#8216;The Bar Was Set Low&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Contracts

Small Cap

Movers

ETF Series Solutions Defiance Next Gen H2 ETF

HDRO

HYDR

IBDSF

PLUG

Why Is Plug Power Stock Surging Premarket On Thursday?

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates 4D Molecular Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) with a Buy and maintains $36 price target.

FDMT

HC Wainwright & Co. Reiterates Buy on 4D Molecular Therapeutics, Maintains $36 Price Target

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) extended its sales and purchase agreement (SPA) with CNOOC by an additional five years.
Under the agreement, the company will continue delivering 1.25 million tons of liquified natural gas (<a target="_blank" href="https://totalenergies.com/news/press-releases/long-term-lng-sales-china-totalenergies-will-supply-125-million-tons-year-cnooc" rel="noreferrer noopener">LNG</a>) annually to China, now extending the contract until 2034.
Gregory Joffroy, Senior Vice President, LNG at TotalEnergies said, &#8220;We are pleased to strengthen our ties with CNOOC, a key partner for the Company in the world&#8217;s largest LNG importing country. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices.&#8221;
On Wednesday, TotalEnergies inked a 10-year deal with BOTAŞ for 1.1 million tons of LNG annually, starting in 2027. The agreement secures long-term sales in Türkiye and reduces <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40919924/totalenergies-expands-in-turkey-with-long-term-lng-agreement" rel="noreferrer noopener">exposure to spot gas price fluctuations</a>.
Apart from this, the company formed a 50/50 joint venture with Adani Green for a 1,150 MW solar project in Gujarat, India. TotalEnergies will invest $444 million,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40681721/totalenergies-invests-in-indian-solar-projects-forms-jv-with-adani-green-energy" rel="noreferrer noopener">boosting its renewable energy strategy</a>.
Investors can gain exposure to the stock via&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 2.65% at $69.84 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40932786" target="_blank" rel="noreferrer noopener">Tesla Bull Explains Why Elon Musk&#8217;s xAI Is Critical To EV Maker&#8217;s Autonomous Ambitions</a></li>
</ul>

Large Cap

MVPA

OCTA

TotalEnergies Extends LNG Deal With CNOOC

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Newpark Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NR#NYSE">NR</a>) with a Buy and maintains $12 price target.

HC Wainwright & Co. Reiterates Buy on Newpark Resources, Maintains $12 Price Target

Michaël van de Poppe, a well-known cryptocurrency analyst, says there is a beginning of a bull market after the Federal Reserve's <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">recent decision to cut interest rates</a>.
What Happened: According to his post, van de Poppe is bullish on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and decentralized finance (DeFi). He stated, &#8220;The bull market has started. Long #Bitcoin. Long #Ethereum. Long DeFi.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">GM. The bull market has started. Long <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Long <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>. Long DeFi.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836578218351935904?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, van de Poppe elaborated on the recent Federal Open Market Committee meeting, highlighting a significant 50 basis points rate cut. He mentioned that the dot plot suggests additional rate cuts of 50-75 basis points in the coming months, which he views as bullish for cryptocurrencies.
Van de Poppe also noted that the FOMC does not anticipate a significant rise in unemployment, which he believes is crucial for market stability. 
However, he expressed skepticism about the FOMC&#8217;s outlook, predicting a reduction in labor markets and a substantial economic impact that would necessitate quantitative easing to sustain economic momentum.
&#8220;I think they have a wrong view, I suspect that there will be a reduction in the labor markets and a huge impact on the economy, through which QE is required to keep the economy moving forward,&#8221; wrote van de Poppe. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The FOMC meeting was massive. 50bps rate cut. However, the dotplot assumes that another 50-75bps of rate cuts are likely to be happening in the coming months &#8211;&gt; bullish for <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> &amp; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. The most significant thing: FOMC doesn&#39;t expect a massive impact on unemployment. This…
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836670076679807004?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Trump&#8217;s Crypto Plans While Jon Stewart Calls Him &#8216;The Left&#8217;s Favorite Billionaire&#8217;</a>
Why It Matters: The announcement from van de Poppe comes on the heels of significant developments in the cryptocurrency market. On Wednesday, Bitcoin surged past the $61,000 mark following the Federal Reserve&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">announcement of a 50 basis point rate cut</a>, bringing the federal funds rate down to a range of 4.75% to 5%. 
Additionally, the Federal Reserve&#8217;s decision to cut rates was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40931419/bitcoin-and-ethereum-euphoria-built-around-rate-cuts-could-be-ruined-by-retail-traders-say">bullish reaction in both cryptocurrency and traditional equity markets</a>. However, prices quickly reversed as traders executed buy orders.
Former President Donald Trump also made headlines by using Bitcoin to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">pay for smash burgers and Diet Cokes</a> during a campaign stop in New York City. This move was hailed as &#8220;one of the most historic transactions&#8221; and aimed to bolster his support from the crypto community.
Price Action: Bitcoin is currently trading at $62,017.60, up 0.59% in the last 24 hours. Year to date, it has gained 40.30%. Meanwhile, Ether is currently priced at $2,357, rising 2.63% in the last 24 hours. Year to date, it has increased 0.19%, according to&nbsp;<a href="https://www.benzinga.com/pro/login" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Color

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Federal Reserve

Markets

$BTC

$ETH

Analyst Predicts Energized Crypto Market After Fed's Decision: Says Bitcoin, Ethereum, And DeFi Set To Rally Amid Anticipation Of Further Rate Cuts: 'The Bull Market Has Started'

The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping's broader efforts to reduce the carbon intensity of its operations. This marine industry first was made possible after two years of collaboration between the companies.

Commodities

General

Technology Group Wärtsilä, In Partnership With Chevron Shipping Company, Plans To Convert One Engine On Six Of Chevron Transport's LNG Carriers From Dual-fuel To Spark Gas Operation, The Order For The First Two Vessels Was Booked By Wärtsilä In Q3 2024

The company recently announced new revenue contracts for its solar panel recycling business, an international equity partnership with revenue and royalty generating agreements for its low carbon, lignocellulosic fuels business, certain asset sales and an indicative term sheet for&nbsp;$325 million&nbsp;in gross funding through SBC Commerce LLC, a U.S. based, globally positioned, private equity group.
The remainder of the Comstock&#39;s convertible debt has been either converted, redeemed or extinguished. 
&nbsp;
&nbsp;

LODE

Comstock Says SBCC transactions Are Progressing; Reveals Additional Convertible Debt Financing Of $3.5M, With Option For Additional $1.5M;

Coherent Corp. (NYSE:&nbsp;COHR), a global leader in high-performance optical networking solutions, today announced an uncooled dual-chip 980 nm micro-pump laser delivering a powerful 2x400 mW output. The new laser is delivered in a compact 3-pin module, making it the ideal choice for next-generation coherent transceivers in data center interconnects and in compact single-channel and bidirectional amplifiers for metro and long-haul networks.
Next-generation coherent transmission applications continue to demand amplifiers that can operate efficiently in space- and power-constrained environments and in a wider operating temperature range outside the central office. Single-mode uncooled dual-chip micro-pump lasers from Coherent offer an industry-first output power of 2x400 mW with power consumption of less than 2 W in environments where temperatures can range from -20 to 85 degrees Celsius.
Uncooled modules help address the growing need for energy-efficient communications networks at a lower cost of ownership by reducing overall power consumption and eliminating much of the thermal and power management systems associated with cooled lasers.

COHR

Coherent Launches Energy-Efficient 980 nm Micro-Pump Laser, Reduces Power Consumption for Network Amplifiers

Infosys ((NSE, BSE, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), a global leader in nextgeneration digital services and consulting, today announced it is extending its strategic collaboration with Posti, the leading delivery and logistics services provider in Finland, Sweden, and the Baltics. As part of the engagement, Infosys will help Posti enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations

INFY

Infosys, Posti Extend Strategic Collaboration

Legal

Tech

AAPL

Apple Told By EU Antitrust Regulators How To Comply With Obligations Set Out Under EU Tech Rules; Apple Must Ensure Rivals Can Function With Its IOS Mobile Operating System; Must Respond To Interoperability Requests From Developers And Third Parties

Billionaire investor Ray Dalio has highlighted the difficulties faced by the U.S. Federal Reserve as it navigates interest rate cuts amid a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">heavily indebted economy</a>. 
What Happened: On Thursday, Dalio the founder of Bridgewater Associates said that the Fed must balance keeping interest rates high enough to benefit creditors while not excessively burdening debtors, Dalio <a href="https://www.cnbc.com/2024/09/19/ray-dalio-says-the-fed-faces-a-tough-balancing-act.html">said</a> in an interview with CNBC.
The central bank reduced the federal funds rate by 50 basis points on Wednesday to 4.75% to 5%, impacting banks&#8217; short-term borrowing costs.
Dalio expressed concerns about the &#8220;enormous amount of debt&#8221; in the U.S. The <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">government has spent over $1 trillion</a> on interest payments for its $35.3 trillion national debt this year. 
Despite these challenges, Dalio does not foresee a looming credit event but anticipates a significant depreciation in the value of debt through artificially low real rates. He warned that the path forward might involve monetizing the debt, similar to Japan&#8217;s approach, which could lead to depreciated currency values and lower bond yields.
"I see a big depreciation in the value of that debt through a combination of artificial low real rates, so you won't be compensated," Dalio said.
Dalio concluded by stating that he does not favor debt assets for his portfolio, preferring to underweight them, particularly bonds.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s recent rate cut marks the first <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">reduction in more than four years</a>. Federal Reserve Chair Jerome Powell defended the decision, emphasizing the need to support a strong labor market and prevent economic harm. Powell stated, "The time to support the labor market is when it's strong, not when you begin to see layoffs."
Furthermore, the rate cut&#8217;s implications extend to <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">consumer financial products</a>. The reduction could affect mortgage rates, credit card interest rates, and auto loan rates, potentially easing the financial burden on consumers.
However, the economic <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40933361/jim-cramer-predicts-no-huge-run-for-tech-stocks-after-federal-reserve-cuts-rate-it-">landscape remains complex</a>. Jim Cramer noted that the rate cuts might not significantly benefit tech stocks, suggesting that the market had already anticipated this move.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Image via Wikimedia Commons/ Web Summit
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Economics

Billionaire Ray Dalio Warns Fed Faces Tough Road Ahead Balancing Interest Rate Cuts And 'Enormous' US Debt Amid $1 Trillion In Interest Payments This Year

Redburn Atlantic analyst Sebastian Erskine initiates coverage on Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>) with a Buy rating and announces Price Target of $35.

Initiation

Redburn Atlantic Initiates Coverage On Kodiak Gas Services with Buy Rating, Announces Price Target of $35

Redburn Atlantic analyst Oliver Davies downgrades Rentokil Initial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) from Buy to Neutral.

Downgrades

Redburn Atlantic Downgrades Rentokil Initial to Neutral

RBC Capital analyst Jonathan Atkin initiates coverage on Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) with a Sector Perform rating and announces Price Target of $345.

CHTR

RBC Capital Initiates Coverage On Charter Communications with Sector Perform Rating, Announces Price Target of $345

The International Brotherhood of Teamsters will <a href="https://www.benzinga.com/general/politics/24/09/40904301/will-kamala-harris-land-teamsters-endorsement-union-leaders-recall-ups-dispute-in-tense-closed-d">not endorse any candidate</a> for U.S. President, the union said on Wednesday.
What Happened: The General Executive Board of the 1.3 million member union elected to not endorse any candidate after receiving &#8220;few commitments&#8221; on union issues from either former President Donald Trump or Vice President Kamala Harris, the union said. 
&#8220;We sought commitments from both Trump and Harris not to interfere in critical union campaigns or core Teamsters industries—and to honor our members' right to strike—but were unable to secure those pledges," Teamsters General President Sean M O'Brien said.
The union also did not find definitive support for either the Democratic party&#8217;s presidential nominee or the Republican party&#8217;s nominee among union members, it said. 
However, results of an electronic poll conducted among union members between July and September showed that a majority of voting members preferred Trump for a possible Teamsters endorsement over Harris by 59.6% to 34%. The union members include freight drivers, warehouse workers, and sanitation workers, among others. 
Why It Matters: The Teamsters Union had endorsed President Joe Biden in 2020. It also endorsed Hillary Clinton in 2016 and Barack Obama in 2008 and 2012. However, before 2000, it did endorse Republican candidates including Ronald Reagan and Richard Nixon.
Other major unions have, however, endorsed Harris. United Auto Workers (UAW) union <a href="https://www.benzinga.com/news/24/07/40087673/kamala-harris-says-proud-to-recieve-uaw-endorsement-spent-entire-career-fighting-for-unions-and-work">endorsed Harris in July </a>and so did the American Federation of Labor and Congress of Industrial Organizations.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/09/40917032/tesla-cybertruck-lead-engineer-warns-against-using-extension-cord-on-superchargers" target="_blank" rel="noreferrer noopener">Tesla Cybertruck Lead Engineer Warns Against Using Extension Cord On Superchargers</a></li>
</ul>
Photo courtesy: Teamsters

Politics

Teamsters Opts To Not Endorse Either Harris Or Trump For Upcoming Presidential Elections, Citing Failure To Secure Pledges Of Non-Interference In Union Campaigns

JMP Securities analyst Constantine Davides downgrades Progyny (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) from Market Outperform to Market Perform.

PGNY

JMP Securities Downgrades Progyny to Market Perform

Shares of Exicure, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) rose sharply in today's pre-market trading after the company announced it received an extension <a href="https://www.benzinga.com/general/biotech/24/09/40928868/exicure-stock-is-soaring-after-the-bell-whats-driving-the-action">from the Nasdaq Hearings Panel.</a>
After the market close, Exicure announced that it was granted an extension for continued listing on the Nasdaq exchange. The early-stage biotechnology company must now show compliance with all applicable criteria for continued listing on the Nasdaq by Nov. 14.
Exicure shares jumped 179.9% to $6.41 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) gained 288.9% to $4.55 in pre-market trading after declining around 9% on Wednesday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) gained 138.4% to $3.22 in the pre-market trading session. Telesis Bio recently announced that it has notified the Nasdaq Stock Market of its decision to delist.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) gained 82.8% to $0.9188 in pre-market trading after the company announced Australian regulatory approval for Venus Bliss MAX.</li>
<li>Freight Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) rose 60.6% to $0.1991 in pre-market trading after gaining 12% on Wednesday. Freight Technologies was recently selected by Bayer CropScience as a logistics provider for 2025 and was awarded six essential cross-border lanes to provide truckload services.</li>
<li>Mynaric AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNA#NASDAQ">MYNA</a>) shares rose 25.6% to $1.37 in pre-market trading after gaining 18% on Wednesday.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMN#NASDAQ">PMN</a>) gained 20.2% to $1.49 in pre-market trading after declining 5% on Wednesday.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) gained 17.4% to $0.1067 in pre-market trading after gaining more than 5% on Wednesday.</li>
<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) rose 17.4% to $3.00 in pre-market trading after gaining around 12% on Wednesday.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) shares gained 13.2% to $20.80 in pre-market trading after jumping over 65% on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Progyny, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) fell 23.2% to $18.78 in pre-market trading.</li>
<li>Webuy Global Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBUY#NASDAQ">WBUY</a>) fell 17.4% to $0.1523 in pre-market trading after surging around 59% on Wednesday.</li>
<li>Veea Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEA#NASDAQ">VEEA</a>) shares fell 15.8% to $10.31 in pre-market trading. Veea shares jumped 131% on Wednesday after the company announced a strategic partnership with Crowdkeep to integrate their respective technologies into a singular, tailored solution to track assets, people, and conditions across a variety of use cases.</li>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) shares dipped 15% to $1.70 in pre-market trading after declining 13% on Wednesday.</li>
<li>BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) shares declined 12% to $0.15 in pre-market trading after dipping 27% on Wednesday.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) shares declined 11.2% to $2.04 in pre-market trading following a 23% decline on Wednesday.</li>
<li>Singularity Future Technology Ltd.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGLY#NASDAQ">SGLY</a>) declined 11.2% to $1.86 in pre-market trading after gaining around 35% on Wednesday.</li>
<li>Odyssey Marine Exploration, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMEX#NASDAQ">OMEX</a>) fell 9.3% to $1.27 in today's pre-market trading after jumping 182% on Wednesday. The company recently announced an award in its arbitration with the United Mexican States under Chapter Eleven of the North American Free Trade Agreement (NAFTA).</li>
<li>Smith Micro Software Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMSI#NASDAQ">SMSI</a>) shares fell 9.3% to $0.92 in pre-market trading after jumping around 6% on Wednesday.</li>
<li>Steelcase Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCS#NYSE">SCS</a>) shares fell 8.9% to $12.85 in pre-market trading after the company reported worse-than-expected second-quarter revenue results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Pre-Market Outlook

Trading Ideas

ALLR

EFSH

FRGT

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MYNA

OMEX

SGLY

SMSI

TBIO

VEEA

VERO

WBUY

XCUR

Why Exicure Shares Are Trading Higher By Around 180%; Here Are 20 Stocks Moving Premarket

AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO Lisa Su emphasized the importance of diverse computing solutions in the face of competition with Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) led by <a href="https://www.benzinga.com/news/24/08/40594137/heres-what-nvidias-jensen-huang-had-to-say-about-amd-ceo-and-his-cousin-lisa-su">her cousin Jensen Huang</a>. 
What Happened: Su stated on Wednesday that there is &#8220;no one size fits all in computing.&#8221;
&#8220;There's no, you know, only one architecture. Actually, you're going to need the right compute for each application,&#8221; she added, during an <a href="https://www.cnbc.com/2024/09/18/amd-ceo-on-nvidia-theres-no-one-size-fits-all-in-computing.html">interview</a> with CNBC&#8217;s Jim Cramer.
Su highlighted that the semiconductor industry benefits from both competition and collaboration among companies.
Su also discussed the future impact of artificial intelligence (AI), predicting that AI will become integral to everyday life across sectors such as business, education, and healthcare. She forecasted the AI accelerator market to reach $400 billion by 2027.
Su concluded by urging patience with tech trends, noting that significant advancements unfold over years, not months.
See Also: <a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
Why It Matters: The rivalry between AMD and Nvidia has intensified, particularly in the AI sector. Recently, Su highlighted AMD&#8217;s <a href="https://www.benzinga.com/markets/equities/24/09/40785940/nvidia-rivalry-pushes-amd-to-shift-focus-away-from-flagship-gaming-gpus-as-lisa-su-chases-ai-sup">shift away from flagship gaming GPUs</a> to focus on AI, projecting $4.5 billion in MI300X AI chip sales for 2024. She emphasized that AMD&#8217;s AI roadmap includes the annual release of new AI chips, starting with the MI325 later this year, followed by the MI350 in 2025 and the MI400 in 2026. This move aims to challenge Nvidia&#8217;s dominance in AI chip technology.
The competition is heating up as both companies vie for a <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40853499/amd-vs-nvidia-ai-stock-showdown-heats-up-as-market-awaits-next-big-move">larger share of the AI market</a>. As of Sep. 13, AMD&#8217;s stock has risen 39.98% over the past year, while Nvidia&#8217;s has surged 161.90%. Year-to-date, AMD is up 8.80%, and Nvidia has soared 147.33%. Nvidia&#8217;s first-mover advantage in the AI space has helped it amass a market cap of over $2.9 trillion, with AMD trailing at around $245 billion.
Price Action: At the time of writing, AMD was trading 3.18% higher during pre-market on Thursday while Nvidia was up by 2.80%, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a></li>
</ul>
Image made via photos on Shutterstock and Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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