Latest news for  (OTC:PAASF) Stock

In a significant development, acclaimed Japanese mathematician Kenji Fukaya has left his post in the United States to take up a full-time professorship at China&#8217;s Tsinghua University.
What Happened: Fukaya, formerly a permanent member of the Simons Centre for Geometry and Physics at Stony Brook University, gave his inaugural lecture at Tsinghua on Sep. 11. His course on symplectic geometry drew a large crowd of students and faculty, as per the university's Yau Mathematical Sciences Centre, South China Morning Post <a href="https://www.scmp.com/news/china/science/article/3279101/respected-mathematician-kenji-fukaya-leaves-us-teach-chinas-tsinghua-university?module=top_story&amp;pgtype=homepage">reported</a> on Thursday.
Fukaya, now associated with both the Yau Mathematical Sciences Centre and the Beijing Institute of Mathematical Sciences and Applications, expressed hope that the return of more China-born researchers to teach in the country would promote the development of a community of highly skilled, domestically educated mathematicians. These institutions were established at Tsinghua by Chinese-American mathematician Shing-Tung Yau.
See Also: <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says If Government Shutdown Happens It Will Be Because Of &#8216;Republican Poison Pills&#8217; — &#8216;The  American People Are Going To Hold Them Responsible&#8217;</a>
Fukaya, globally recognized for his contributions to mathematics, initially focused on Riemannian geometry. However, since the 1990s, his research has pivoted to symplectic geometry, creating influential tools for fields like low-dimensional topology and mirror symmetry. His work connects various areas of mathematics and physics, offering insights into complex systems.
Why It Matters: Fukaya&#8217;s move to China comes amid escalating tensions between the U.S., China, and Japan. Just days before Fukaya&#8217;s lecture, China released David Lin, a U.S. <a href="https://www.benzinga.com/news/24/09/40872283/china-frees-us-pastor-after-18-years-in-jail-no-words-can-express-the-joy-says-daughter">pastor imprisoned since 2006</a>. This unexpected move was seen as a positive sign in the strained US-China relations.
Moreover, recently, a Chinese aircraft carrier entered<a href="https://www.benzinga.com/news/24/09/40915796/japan-expresses-serious-concerns-as-chinese-aircraft-carrier-enters-contiguous-waters-amid-rising-te"> Japan's contiguous waters</a> for the first time, leading to strong objections from Japan. 
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</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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

News

Global

General

Top Mathematician Kenji Fukaya Leaves US To Join China's Tsinghua University Amid Rising Tensions

Trading Ideas

GLMD

Galmed Pharmaceuticals Shares Resumed Trade

RBC Capital analyst Leonid Timashev reiterates Pyxis Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYXS#NASDAQ">PYXS</a>) with a Outperform and maintains $7 price target.

Price Target

Reiteration

Analyst Ratings

PYXS

RBC Capital Reiterates Outperform on Pyxis Oncology, Maintains $7 Price Target

WIIM

GEVO

Gevo shares are trading higher after the company announced the $20 million sale in investment tax credits from the NW Iowa RNG facility.

Biotech

BVNRY

Bavarian Nordic Receives EMA Approval Of Mpox Vaccine For Adolescents; Approval Extends Current Marketing Authorization To Include Adolescents 12 To 17 Years Of Age; Clinical Trial To Assess Immunogenicity, Safety Of MVA-BN In Children 2-12 Years Is Expected To Start Next Month

Although U.S. stocks closed lower on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Singular Genomics Systems</h3>
<ul>
<li>The Trade: Singular Genomics Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMIC#NASDAQ">OMIC</a>) 10% owner TANG CAPITAL PARTNERS LP <a href="https://www.benzinga.com/quote/ONEW/analyst-ratings">acquired a total of 122,416 shares at</a> an average price of $14.75. To acquire these shares, it cost around $1.81 million.</li>
<li>What's Happening: On Sept. 12, Singular Genomics announced it received a non-binding acquisition proposal from Deerfield.</li>
<li>What Singular Genomics Systems Does: Singular Genomics Systems Inc is a life science technology company that is leveraging novel next generation sequencing and multiomics technologies to build products that empower researchers and clinicians.</li>
</ul>
<h3 class="wp-block-heading">NewtekOne</h3>
<ul>
<li>The Trade: NewtekOne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEWT#NASDAQ">NEWT</a>) Director Gregory L Zink acquired a total of 1,000 shares at an average price of $11.38. To acquire these shares, it cost around $11,380.</li>
<li>What's Happening: On Sept. 16, NewtekOne declared a quarterly dividend of 19 cents per share.</li>
<li>What NewtekOne Does: NewtekOne Inc is a financial holding company engaged in providing financial solutions, It has developed a financial and technology-based business model that enables itself to acquire and process its clients in a very cost-effective manner.</li>
</ul>
<h3 class="wp-block-heading">SR Bancorp</h3>
<ul>
<li>The Trade: SR Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRBK#NASDAQ">SRBK</a>) Director Thomas Lupo <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 5,000 shares</a> at an average price of $10.58. To acquire these shares, it cost around $52,885. The company's Executive Chair also bought 1,000 shares.</li>
<li>What's Happening: On July 30, SR Bancorp posted a second-quarter loss of 34 cents per share.</li>
<li>What SR Bancorp Does: SR Bancorp Inc principal business is to acquire deposits from individuals and businesses in the communities surrounding offices and to use these deposits to fund loans. </li>
</ul>
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</ul>

Long Ideas

Insider Trades

Markets

NEWT

OMIC

SRBK

$1.8M Bet On Singular Genomics? Check Out These 3 Stocks Executives Are Buying

Wells Fargo analyst Daniel Osley initiates coverage on Outfront Media (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) with a Overweight rating and announces Price Target of $22.

Initiation

Wells Fargo Initiates Coverage On Outfront Media with Overweight Rating, Announces Price Target of $22

GSIW

Garden Stage Limited Shares Resume Trade Then Again Halted To The Upside, Stock Now Up 84.6%

RBC Capital analyst Matthew McKellar maintains Rayonier Adv Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAM#NYSE">RYAM</a>) with a Outperform and raises the price target from $9 to $10.

RYAM

RBC Capital Maintains Outperform on Rayonier Adv Materials, Raises Price Target to $10

Galmed Pharmaceuticals Shares Halted To The Upside; Stock Now Up 67.54%

Schlumberger N.V.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares gained today after the energy giant joined forces with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to unleash <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40935220/slb-and-nvidia-collaborate-to-develop-generative-ai-solutions-for-the-energy-sector" rel="noreferrer noopener">groundbreaking generative AI solutions.</a>
The companies plan to develop generative AI solutions for the energy industry. With the development, Schlumberger will focus on areas such as subsurface exploration, production operations, and data management.
The partnership speeds up the creation and implementation of industry-specific generative AI foundation models across Schlumberger&#8217;s global platforms, including the Delfi digital platform and the Lumi data and AI platform. Schlumberger&#8217;s Lumi data and AI platform, the <a target="_blank" href="https://www.slb.com/products-and-services/delivering-digital-at-scale/artificial-intelligence-solutions#:~:text=The%20Lumi%20data%20and%20AI,challenges%20and%20accelerates%20digital%20transformation." rel="noreferrer noopener">domain-specific solution</a> for the energy sector, is designed to transform raw data from various sources into trusted insights.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40899601/energy-gets-ai-boost-schlumbergers-lumi-platform-to-power-next-gen-digital-transformation" rel="noreferrer noopener">Energy Gets AI Boost: Schlumberger&#8217;s Lumi Platform To Power Next-Gen Digital Transformation</a>
&#8220;Our collaboration with NVIDIA will accelerate the creation of tailored generative AI solutions, enabling our customers to optimize operations, enhance efficiency and minimize their overall footprint,&#8221; said Olivier Le Peuch, chief executive officer, Schlumberger.
Schlumberger and NVIDIA&#8217;s partnership started in 2008, focusing on the groundbreaking application of graphics processing units (GPUs).
Now, with the latest deal, Schlumberger will leverage NVIDIA NeMo, which is part of the NVIDIA AI Enterprise software suite, to develop tailored generative AI that can operate in data centers, on any cloud, or at the edge.
&#8220;Custom models created by SLB leveraging NVIDIA NeMo will provide the industry&#8217;s scientists and engineers unprecedented insight to speed their work in optimizing the energy supplies today and unlocking the clean energy innovations of tomorrow,&#8221;&nbsp;said Jensen Huang, founder and CEO of NVIDIA.
This initiative aims to fully harness the potential of generative AI for energy domain professionals to generate greater value and reduce carbon emissions.
According to a research <a target="_blank" href="https://www.kingsresearch.com/artificial-intelligence-in-energy-market-849" rel="noreferrer noopener">report </a>by Kings Research, the global Artificial Intelligence in Energy Market is projected to reach $46.188 billion by 2031, growing at a CAGR of 17.18% from 2024 to 2031.
This rapid expansion might underscore the potential impact of Schlumberger and NVIDIA&#8217;s partnership in leveraging AI solutions for the energy sector.
Price Action: SLB shares are trading higher by 2.29% to $42.37 at last check Thursday, while NVDA shares are trading higher by 4.66% to $118.71.
Photo via Shutterstock
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</ul>

Equities

Movers

NVDA

Energy Meets AI: Schlumberger Teams Up With NVIDIA To Supercharge Industry Efficiency

Garden Stage Limited Shares Halted To The Upside; Stock Now Up 50.22%

RBC Capital analyst Daniel Perlin maintains SS&amp;C Techs Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSNC#NASDAQ">SSNC</a>) with a Outperform and raises the price target from $75 to $86.

SSNC

RBC Capital Maintains Outperform on SS&C Techs Hldgs, Raises Price Target to $86

Wells Fargo analyst Daniel Osley initiates coverage on Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Equal-Weight rating and announces Price Target of $132.

LAMR

Wells Fargo Initiates Coverage On Lamar Advertising with Equal-Weight Rating, Announces Price Target of $132

Xiao-I Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIXI#NASDAQ">AIXI</a>) ("Xiao-I" or the "Company"), a leading artificial intelligence company, today announced the renewal of its contract with Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili") (A Share:600887). This renewal continues a long-standing partnership and marks an important shift, as Yili transitions its AI-driven customer service platform to a subscription-based model, optimizing service delivery and increasing operational efficiency. This transition to a subscription model, known as Maas (Model as a Service), represents a new business model that Xiao-I has been actively promoting. It reflects a broader trend in the software and AI industries, offering greater flexibility and scalability for clients like Yili. The shift is also expected to contribute to Xiao-I's long-term financial stability by creating stronger customer retention and improving cash flow predictability.

AIXI

Xiao-I Corp Renews And Expands Partnership With Inner Mongolia Yili, Transitioning To Subscription-Based Model For AI Services, Optimizing Service Delivery And Increasing Operational Efficiency

RBC Capital analyst Rishi Jaluria reiterates Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Outperform and maintains $300 price target.

RBC Capital Reiterates Outperform on Salesforce, Maintains $300 Price Target

Flex's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NYSE">FLEX</a>) short percent of float has fallen 4.38% since its last report. The company recently reported that it has 6.41 million shares sold short, which is 2.4% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Flex Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726753523_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Flex has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Flex's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Flex's peer group average for short interest as a percentage of float is 2.90%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

FLEX

How Is The Market Feeling About Flex?

Salesforce's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) short percent of float has fallen 13.42% since its last report. The company recently reported that it has 11.97 million shares sold short, which is 1.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.8 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Salesforce Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726753518_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Salesforce has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Salesforce's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Salesforce's peer group average for short interest as a percentage of float is 3.35%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Salesforce's Recent Short Interest

Tonix Pharmaceuticals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NYSE">TNXP</a>) short percent of float has risen 122.12% since its last report. The company recently reported that it has 1.57 million shares sold short, which is 7.13% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tonix Pharmaceuticals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726753512_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tonix Pharmaceuticals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Tonix Pharmaceuticals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tonix Pharmaceuticals's peer group average for short interest as a percentage of float is 5.53%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

TNXP

Looking Into Tonix Pharmaceuticals's Recent Short Interest

U.S. stocks traded higher this morning, with the Nasdaq Composite surging more than 400 points on Thursday.
Following the market opening Thursday, the Dow traded up 1.44% to 42,100.00 while the NASDAQ rose 2.30% to 17,976.85. The S&amp;P 500 also rose, gaining, 1.65% to 5,710.85.
Check This Out: <a href="https://www.benzinga.com/news/24/09/40937584/alphabet-mcdonalds-and-2-other-stocks-executives-are-selling">Alphabet, McDonald&#8217;s And 2 Other Stocks Executives Are Selling</a>
Leading and Lagging Sectors Information technology shares jumped by 2.7% on Thursday.
In trading on Thursday, utilities shares fell by 0.1%.
Top Headline
U.S. initial jobless claims fell by 12,000 from the prior week to 219,000 in the week ending September 14, compared to market expectations of 230,000.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) shares shot up 245% to $4.67. Telesis Bio recently announced that it has notified the Nasdaq Stock Market of its decision to delist.</li>
<li>Shares of Signing Day Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGN#NYSE">SGN</a>) got a boost, surging 185% to $0.3702 after the company announced it will acquire sports gaming technology company Swifty Global.</li>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) shares were also up, gaining 153% to $2.96 after declining around 9% on Wednesday.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Haoxi Health Technology Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAO#NASDAQ">HAO</a>) shares dropped 74% to $0.77. Haoxi Health Technology announced the pricing of a $12 million underwritten follow-on public offering of 4 million units at a price of $3/unit.</li>
<li>Shares of Progyny, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) were down 39% to $14.96 after a client elected to exercise an option to terminate its services agreement with the company.</li>
<li>Vivos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VVOS#NASDAQ">VVOS</a>) was down, falling 23% to $3.19 after the company announced a $4.3 million registered offering of 1.36 million shares of common stock at $3.15 per share.</li>
</ul>
Commodities In commodity news, oil traded up 1.1% to $71.71 while gold traded up 0.2% at $2,602.70.
Silver traded up 2.2% to $31.355 on Thursday, while copper rose 1.7% to $4.3720.
Euro zone
European shares were higher today. The eurozone's STOXX 600 climbed 1.4%, Germany's DAX climbed 1.6% and France's CAC 40 jumped 2%. Spain's IBEX 35 Index rose 0.7%, while London's FTSE 100 rose 1%.
The Bank of England maintained the Bank Rate at 5% during its September meeting, after cutting rates by 25 bps in August. The current account surplus in the Eurozone increased to €48 billion in July from €25.5 billion in the year-ago period.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 2.13%, Hong Kong's Hang Seng Index surging 2%, China's Shanghai Composite Index gaining 0.69% and India's BSE Sensex gaining 0.29%.
Hong Kong's unemployment rate came in unchanged at 3% in the three months ending August. The Hong Kong Monetary Authority cut its base rate by 50bps to 5.25% at its recent meeting.
Economics
<ul>
<li>The U.S. reported a current account deficit of $266.8 billion in the second quarter versus a gap of $241 billion in the prior period and higher than market estimates of a $260 billion gap.</li>
<li>U.S. initial jobless claims fell by 12,000 from the prior week to 219,000 in the week ending September 14, compared to market expectations of 230,000.</li>
<li>The Philadelphia Fed Manufacturing Index climbed to 1.7 in September from -7 in the previous month and topping market estimates of -1.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/09/40937617/top-3-defensive-stocks-you-may-want-to-dump-in-september">Top 3 Defensive Stocks You May Want To Dump In September</a></li>
</ul>

Eurozone

Commodities

Intraday Update

PGNY

TBIO

VVOS

Nasdaq Surges 400 Points; US Jobless Claims Fall To 219,000

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