Eksentricity

Tech

AI & Smartphone Landscape

• Apple’s AI Play: Apple’s new AI platform, Apple Intelligence, could lead to a “supercycle” of iPhone upgrades, particularly among users who haven’t upgraded in over four years. Analyst Dan Ives predicts this could generate $30 to $40 per share in additional revenue for Apple.
• Microsoft’s AI Push: Microsoft’s Copilot suite of AI tools, integrated into various software and services, presents a strong competitor to Apple’s AI advancements.
• Consumer Adoption Uncertain: While AI offers potential, the pace of consumer adoption for AI-powered smartphones remains uncertain.

ZoomInfo Lawsuit

• Allegations of Misleading Investors: A shareholder lawsuit alleges ZoomInfo misled investors about its growth prospects during the COVID-19 pandemic, failing to disclose the temporary nature of its growth.
• Inflated Results Claims: The suit claims ZoomInfo inflated revenues and operating income through manipulative customer retention tactics. This resulted in a steep 90% decline in stock price from over $79 per share to just $8 per share.
• Lead Plaintiff Selection: Shareholders have until November 4, 2024, to apply to be the lead plaintiff for the class action.

Broadcom’s AI-Driven Growth

• Double-Digit Revenue Expansion: Broadcom (AVGO) is experiencing double-digit revenue growth fueled by its AI-related business and the VMware acquisition. Custom AI accelerators saw sales triple year-over-year.
• VMware Acquisition Impact: The acquisition of VMware, a leader in virtualization software, expands Broadcom’s software offerings and strengthens its position in private cloud computing for AI workloads.
• AI Hardware & Software Integration: Broadcom’s combined AI hardware and software approach positions it as a major player in the AI market. However, its high price-to-earnings ratio raises concerns about its valuation.

STMicroelectronics Revenue Challenges

• Declining Demand Allegations: A shareholder lawsuit alleges that STMicroelectronics (STM) misled investors about declining demand in its automotive and industrial sectors.
• Revenue & Margin Declines: The lawsuit claims revenue and gross margins continued to decline, leading to a 15.35% drop in share price on July 25, 2024.
• Revised Forecasts: STMicroelectronics revised its revenue and margin forecasts twice within the current fiscal year.

Doximity’s Underperformance

• Overstated Growth Allegations: A shareholder lawsuit alleges Doximity, Inc. (DOCS) misled investors by downplaying the importance of customer upsell rates to its financial performance.
• Disappointing Guidance: Doximity’s first-quarter 2024 earnings report revealed significant underperformance in upsell rates, resulting in a 23% decline in share price.
• Market Challenges: Competition and tightening macroeconomic conditions have affected Doximity’s revenue growth and profitability.

Finance

Share Repurchases

• eBay Share Buybacks: eBay (EBAY) has repurchased $2.9 billion worth of shares since the beginning of 2023, reducing its outstanding share count by nearly 10%. This aggressive buyback program reflects the company’s confidence in its future prospects and its commitment to enhancing shareholder value.
• eBay Valuation: eBay’s valuation is considered cheap compared to its peers, with a P/E ratio of 12.3, among the lowest in the sector. This low valuation is likely due to the company’s recent struggles to grow revenue. However, eBay’s forward P/E of 13.2 is drastically lower than the S&P 500’s forward P/E of 22.6, suggesting potential upside for the stock.

Investor Lawsuits

• Lifecore Biomedical Lawsuit: Rosen Law Firm is reminding investors of the September 27, 2024 lead plaintiff deadline for a securities class action lawsuit filed against Lifecore Biomedical, Inc. (LFCR). The lawsuit alleges that Lifecore made false and misleading statements about its financial performance and internal controls, potentially harming investors.
• Stellantis Lawsuit: Robbins LLP is investigating allegations that Stellantis N.V. (STLA) misled investors about its business prospects. The lawsuit claims that Stellantis made misleading statements about its expected revenue and financial performance, leading to a decline in the company’s stock price when the truth was revealed.

Shareholder Investigations

• Ibotta Investigation: Bragar Eagel & Squire, P.C. is investigating potential claims against Ibotta, Inc. (IBTA) after the company announced disappointing second-quarter 2024 financial results, leading to a decline in its stock price. The investigation seeks to determine if Ibotta made false and misleading statements about its business and financial performance.
• Acadia Healthcare Investigation: Bragar Eagel & Squire, P.C. is investigating potential claims against Acadia Healthcare Company, Inc. (ACHC) after a New York Times article alleged that the company engaged in unethical practices, including detaining patients against their will. The investigation seeks to determine if Acadia Healthcare made false and misleading statements about its business practices and if investors were harmed.

European Acquisitions

• Unifiedpost Acquisition: NN Group N.V. acquired a 15.51% stake in Unifiedpost Group SA on September 12, 2024. This acquisition underscores NN Group’s confidence in the future growth potential of Unifiedpost, a leading provider of digital document solutions.
• Kepler Cheuvreux Acquisition: Kepler Cheuvreux has acquired a majority stake in Trackinsight, the Financial Times’ data partner for the ETF Hub. This acquisition will likely lead to increased collaboration between Kepler Cheuvreux and Trackinsight, potentially enhancing their offerings in the ETF space.
• Ipsos Investment: Bpifrance Investissement, a fund dedicated to supporting large listed multinational companies, will become a shareholder in Ipsos. This investment signifies Bpifrance Investissement’s belief in Ipsos’ future growth prospects and its potential to contribute to the French economy.

UK Takeovers

• UK Takeover Trends: An increasing number of UK companies are being taken off the stock exchange through acquisitions. In the first half of 2024, thirty London-listed companies received firm takeover offers for an average value of £1bn. This trend is driven by a combination of factors, including low interest rates, abundant private equity capital, and a desire for greater control.
• Impact on Fund Managers: This takeover activity is causing concern for UK fund managers, who are seeing the pool of listed companies shrink. This trend limits their investment options and raises concerns about the long-term health of the UK stock market.
• Policy Measures: Policymakers are trying to make London a more attractive venue for flotations through a series of measures, including plans to encourage pension funds to allocate more capital to UK stocks. These measures are aimed at reversing the trend of takeovers and promoting new listings in the UK stock market.
• Rightmove Takeover Bid: FTSE 100 company Rightmove rejected a takeover bid from Rupert Murdoch-owned group REA. This rejection highlights the company’s confidence in its own growth prospects and its commitment to remaining an independent entity.

Estonia

• LHV Group Profitability: LHV Group, the largest domestic financial group and capital provider in Estonia, reported a consolidated net profit of EUR 12.2 million in August. This strong performance was driven by strong client activity and good home loan lending performance, indicating a positive outlook for the Estonian economy.

Switzerland

• Helvetia Bond Redemption: Helvetia will redeem a CHF 225 million hybrid bond on its first optional redemption date on October 17, 2024. This redemption signifies Helvetia’s strong financial position and its commitment to managing its debt obligations.

Healthcare

Leadership Changes and Corporate Updates

• Klotho Neurosciences Rebranding: ANEW MEDICAL, INC. has rebranded as Klotho Neurosciences, INC., shifting focus towards neurodegenerative therapies and healthy longevity. The company will prioritize its patented Klotho gene technology, particularly in developing drugs for ALS, Alzheimer’s, and Parkinson’s disease.
• Kura Oncology Board Appointment: Kura Oncology appointed Michael Vasconcelles, M.D., to its Board of Directors. Dr. Vasconcelles brings over 25 years of oncology drug development experience, contributing expertise in R&D and regulatory affairs for the company’s menin and farnesyl transferase inhibitor programs.

Drug Approvals

• Ebglyss Approved for Atopic Dermatitis: Eli Lilly received FDA approval for Ebglyss (lebrikizumab), an IL-13 inhibitor, to treat moderate-to-severe atopic dermatitis in adults and children aged 12 and above. Ebglyss is a potential first-line biologic treatment option for patients with poorly controlled eczema.
• Kisqali Approved for Early Breast Cancer: Novartis received FDA approval for Kisqali (ribociclib) in combination with an aromatase inhibitor for the adjuvant treatment of HR+/HER2- stage II and III early breast cancer (EBC) at high risk of recurrence, including those with node-negative disease. The approval is based on data from the NATALEE trial, demonstrating a significant reduction in the risk of disease recurrence.

Clinical Trial Updates

• ATI-2138 Phase 2a Trial in Atopic Dermatitis: Aclaris Therapeutics initiated a Phase 2a clinical trial of ATI-2138, an investigational oral inhibitor of ITK and JAK3, for the treatment of moderate to severe atopic dermatitis. The trial will enroll approximately 15 subjects in the United States.
• OTX-2002 Phase 1/2 Trial in Hepatocellular Carcinoma: Omega Therapeutics is continuing its Phase 1/2 MYCHELANGELO™ I trial of OTX-2002, a first-in-class, bicistronic mRNA-encoded epigenomic controller for the treatment of adult patients with HCC and other MYC-associated solid tumors. The trial has shown promising preliminary clinical data, validating the OMEGA platform’s potential to develop programmable epigenomic mRNA therapeutics.
• VG-3927 Phase 1 Trial in Alzheimer’s Disease: Vigil Neuroscience resumed its Phase 1 clinical trial of VG-3927, a novel small molecule TREM2 agonist, for the treatment of Alzheimer’s disease after the FDA lifted a partial clinical hold. The trial is evaluating the safety and tolerability of VG-3927, and has initiated dosing of a cohort of Alzheimer’s disease (AD) patients.

Strategic Partnerships and Acquisitions

• Hims & Hers Health Partners with SPRYT: Hims & Hers Health partnered with SPRYT Limited to explore technology synergies, including AI and SPRYT’s Global Library of Medicine (GLM), to build solutions mitigating patient access challenges, administrative overheads for healthcare professionals, and cost inefficiencies throughout healthcare systems.
• UniDoc Health Partners with Carefluence: UniDoc Health Corp. partnered with Carefluence to embed Carefluence’s FHIR-based platform into UniDoc’s telehealth solutions, enabling seamless data exchange and connectivity across multiple health IT systems. This will enhance care continuity, coordination, and patient safety through seamless data exchange.
• Treatment.com AI Collaborates with SPRYT: Treatment.com AI Inc. signed a Collaborative Agreement with SPRYT Limited to explore complementary technology synergies, including Treatment’s proprietary Global Library of Medicine (GLM), to build new solutions designed to mitigate patient access challenges, administrative overheads for healthcare professionals and cost inefficiencies throughout healthcare systems.
• Merit Medical Acquires Cook Medical Portfolio: Merit Medical Systems, Inc. agreed to acquire Cook Medical’s lead management portfolio for a cash consideration of approximately $210 million. The deal is expected to close in the fourth quarter of 2024.
• Capricor Therapeutics Enters Agreement with Nippon Shinyaku: Capricor Therapeutics Inc. entered into a binding term sheet with Nippon Shinyaku Co., Ltd. for the commercialization and distribution in Europe of Capricor’s lead asset, deramiocel, for Duchenne muscular dystrophy (DMD).
• Senseonics Receives FDA Clearance for Eversense® 365 CGM: Senseonics Holdings, Inc. received FDA clearance for the next-generation Eversense® 365 CGM system for people with Type 1 and Type 2 diabetes aged 18 years and older. Eversense 365 is the world’s first One Year CGM system.

Market Trends and Outlook

• Global Chemotherapy Induced Nausea and Vomiting Treatment Market: The global chemotherapy induced nausea and vomiting treatment market is projected to grow at a CAGR of 6.4% and reach US$ 12,688.0 million by 2034. The market is being driven by the increased incidence of cancer and the development of novel anti-emetic drugs with improved action.
• Global Cell Expansion Market: The global cell expansion market is projected to reach US$ 40.1 billion by 2034. The market is being driven by the increasing prevalence of chronic diseases, technological advancements in cell culture techniques, and growing investments in regenerative medicine and personalized healthcare.
• Global Oral Care Market: The global oral care market is projected to reach USD 65.54 billion by 2031, with a CAGR of 6.4% during the forecast period. The market is being driven by the rising incidence of dental diseases, growing awareness of oral care, and advancements in oral care product technology.
• Global Mental Health Market: The global mental health market is projected to reach USD 544.63 Billion by 2031, with a CAGR of 3.5% during the forecast period. The market is being driven by the ageing population, increase in the prevalence of mental illnesses, and an expansion of mental health awareness campaigns.
• Global Thrombectomy Devices Market: The global thrombectomy devices market is expected to reach $1.52 billion in 2023 and is predicted to witness a compound annual growth rate of 7.33% through 2033. The market growth is fueled by the rising incidences of cardiovascular diseases among an aging population, leading to an increasing demand for thrombectomy procedures.
• Bispecific Antibody-Drug Conjugates (BsADCs): The global market for BsADCs has experienced remarkable expansion, attributed to their revolutionary capabilities in the treatment of various cancers. Numerous leading companies are spearheading advancements in this sector, contributing to its swift growth and international reach.
• Global Patient Monitoring Devices Market: The global patient monitoring devices market is anticipated to reach from $48.5 billion in 2024 to $71.1 billion by 2029 at a CAGR of 8%. The rising burden of chronic diseases, growth in the elderly population, increasing preference for home and remote monitoring, and the ease of use of portable devices are expected to drive the market.
• Global Clinical Laboratory Services Market: The global clinical laboratory services market was valued at $258.71 billion in 2023 and is projected to grow from $274.21 billion in 2024 to $468.15 billion by 2032, witnessing a compound annual growth rate of 6.9% during the period. The increasing chronic diseases, the growing demand for early diagnostic tests and the rapid advancements in data management and sample preparation are expected to drive the market.
• Global Lymphedema Treatment Market: The global lymphedema treatment market size was worth $570.4 million. It is anticipated to reach $1.1 billion by 2030 at a CAGR of 9.7%. The rising prevalence of lymphedema, increasing incidence of cancer and technological advancements are driving the market.
• Global Carotid Artery Stents Market: Per a report by Grand View Research, the carotid artery stents market size was estimated to be $559.7 million in 2021 and is projected to witness a CAGR of 3% during the 2022-2030 period.
• Global GLP-1 Medicines Market: The global TAM for GLP-1 medicines is expected to increase fourfold from today’s estimated size and reach $145 billion by 2030.
• Global Alzheimer’s Treatment Market: The global TAM for treating Alzheimer’s is expected to increase at a compound annual growth rate (CAGR) of 19% between 2024 and 2033 — reaching a size of nearly $31 billion.

Company Highlights

• BioTalys Patents for EVOCA™: Biotalys obtained patents for its first biofungicide, EVOCA™, from both the European Patent Office (EPO) and the United States Patent and Trademark Office (USPTO). This confirms the innovative nature of the solution and provides Biotalys with the exclusivity needed to support its commercial partners in producing or distributing EVOCA across Europe and the United States.
• BOOST Pharma Presents Positive Clinical Phase 1/2 Study: BOOST Pharma presented positive top-line results from a clinical Phase 1/2 study with a potential first-in-class treatment of the rare bone disease osteogenesis imperfecta (OI). The results showed that the treatment was safe and well tolerated and that fracture rates were reduced by over 75%.
• AnaCardio Completes Clinical Studies: AnaCardio completed the AC01-FE study in the US and also completed the first part of the clinical phase 1b/2a study GOAL-HF1, evaluating AC01 in patients with heart failure and reduced ejection fraction (HFrEF).
• MinervaX and Wacker Biotech Collaborate: MinervaX ApS, a Danish biotechnology company developing a novel, prophylactic vaccine against Group B Streptococcus (GBS), and Wacker Biotech, a contract development and manufacturing organization (CDMO), have announced a collaboration to manufacture MinervaX’s active protein ingredients of its GBS vaccine.
• ImmunOs Therapeutics Closes Financing Round: ImmunOs Therapeutics AG, a biopharmaceutical company developing first-in-class therapeutics for the treatment of cancer and autoimmune diseases, has announced the closing of a Series C financing round of $11 million.
• Bausch + Lomb Sale Rumors: Bausch + Lomb (BLCO) shares ended the last trading session 14.5% higher at $17.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. The price increase can be attributed to investors’ optimism surrounding a Financial Times report stating that the company is contemplating a sale to address challenges related to its spin-off from the parent company Bausch Health.
• Summit Therapeutics Positive Lung Cancer Trial Results: Shares of Summit Therapeutics (SMMT) have risen sharply since the company shared phase 3 results that show a strong progression-free survival benefit versus Keytruda.
• ADMA Biologics to Join S&P SmallCap 600 Index: ADMA Biologics has announced it will join the S&P SmallCap 600 index, effective prior to the open of trading on Monday, September 23, 2024.
• Aclaris Therapeutics Doses First Patient in Phase 2a Clinical Trial: Aclaris Therapeutics, Inc. has announced that the first patient has been dosed in Aclaris’ Phase 2a clinical trial of ATI-2138, an investigational oral covalent inhibitor of interleukin-2-inducible T cell kinase (ITK) and Janus kinase (JAK) 3, for the treatment of moderate to severe atopic dermatitis (AD).
• Penumbra Secures CE Mark for New CAVT Technologies: Penumbra, Inc. has secured the CE Mark in Europe for its newest computer-assisted vacuum thrombectomy (CAVT) technologies, Lightning Flash 2.0 and Lightning Bolt 7.
• Relay Therapeutics Shares Surge on Positive Interim Efficacy Data: Relay Therapeutics, Inc. shares soared 6.7% in the last trading session to close at $8.11. The move was backed by solid volume with far more shares changing hands than in a normal session. The sudden surge in the stock price can be attributed to a positive investor mindset regarding the company’s pipeline progress.
• BioCryst Pharmaceuticals Completes Negotiations with pCPA: BioCryst Pharmaceuticals, Inc. has announced that it successfully completed negotiations with the pan-Canadian Pharmaceutical Alliance (pCPA) for oral, once-daily Pr ORLADEYO® (berotralstat), which is approved in Canada for the routine prevention of attacks of hereditary angioedema (HAE) in adults and pediatric patients 12 years of age and older.
• AC Immune SA to Receive Second ReTain-Related Milestone Payment: AC Immune SA has announced that it will receive the second ReTain-related milestone payment (CHF 24.6 million) under its agreement with Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company.
• Cullinan Therapeutics Receives HREC Approval in Australia: Cullinan Therapeutics, Inc. has received Human Research Ethics Committee (HREC) approval in Australia to initiate its global Phase 1 clinical trial to evaluate CLN-978, its CD19xCD3 bispecific T cell engager, for the treatment of systemic lupus erythematosus (SLE).
• Omega Therapeutics Publishes Preclinical Data in Nature Communications: Omega Therapeutics, Inc. has announced the publication of preclinical data from studies of OTX-2002 in Nature Communications. The article highlights the potential of Omega’s approach to precision epigenomic control and the ability of OTX-2002 to controllably regulate the historically undruggable MYC gene in multiple models of hepatocellular carcinoma (HCC), the most common type of primary liver cancer.
• TransCode Therapeutics Doses First Two Patients in Phase 1 Clinical Trial: TransCode Therapeutics, Inc. has announced dosing of the first two patients in its Phase 1 clinical trial with its lead candidate, TTX-MC138.
• BioNTech SE to Host AI Day: BioNTech SE, alongside its artificial intelligence (“AI”) company InstaDeep Ltd. (“InstaDeep”), will host an AI Day, an edition of BioNTech’s “Innovation Series”, at 09:00 a.m. EDT (3:00 p.m. CEST) on Tuesday, October 1st, 2024 in London, United Kingdom.
• Spectral AI Outlines Regulatory Pathway Strategy: Spectral AI, Inc. has provided an outline of its regulatory pathway strategy to enter the U.S. market with its flagship DeepView ® System for burn indication (“DeepView AI ® -Burn”).
• Iantrek Announces 1-Year Results from Multi-Center Real-World Evidence Study: Iantrek, Inc., a venture-backed medical technology company pioneering next-generation bio- and micro-interventional approaches for ophthalmic disease treatment, today announced 1-year results from the company’s prospective multi-center real-world evidence study of open-angle glaucoma patients who underwent uveoscleral outflow enhancement surgery using Iantrek’s interventional cyclodialysis system, combined with adjunct allogeneic bio-tissue reinforcement.
• STRATA Skin Sciences to Present at iAccess Alpha: STRATA Skin Sciences, Inc. has announced that President and CEO Dr. Dolev Rafaeli will present a corporate overview at the iAccess Alpha – Buyside Best Ideas Fall Conference 2024.
• Vigil Neuroscience Receives FDA Approval to Lift Partial Clinical Hold: Vigil Neuroscience, Inc. has announced that the U.S. Food and Drug Administration (FDA) has removed the partial clinical hold on its ongoing Phase 1 clinical trial of VG-3927.
• Telix Pharmaceuticals Selects Cardinal Health as Radiopharmaceutical Distributor: Telix Pharmaceuticals Limited has announced that it has selected Cardinal Health, Inc. as a commercial radiopharmaceutical distributor to supply finished unit doses of its PET 1 agent, Zircaix® 2 (TLX250-CDx) for the imaging of kidney cancer in the United States (U.S.), subject to regulatory approval.
• Athira Pharma to Focus on ATH-1105 Development: Athira Pharma, Inc. has announced that following the topline data readout from the Phase 2/3 LIFT-AD clinical trial of fosgonimeton to treat Alzheimer’s disease (AD) the Company plans to focus on advancing the clinical development program for ATH-1105 as a potential treatment for neurodegenerative diseases, including amyotrophic lateral sclerosis (ALS) and AD.
• FOXO Technologies Completes Acquisition: FOXO Technologies Inc. has announced it has completed the acquisition of the second revenue-generating operation from Rennova Health, Inc.
• QHSLab Shares Updates on R&D Activities: QHSLab, Inc. has shared exciting updates on its Research & Development (R&D) activities and patient outcomes for the year to date. The Company continues advancing healthcare technology by integrating AI-driven digital tools designed to improve clinical decision-making and patient care.
• Microbot Medical Reaches Midpoint of ACCESS-PVI Pivotal Trial: Microbot Medical Inc. has announced that it has successfully reached the midpoint of the ACCESS-PVI pivotal human clinical trial, enrolling and completing the follow up of 50% of the patients participating in the trial to evaluate the LIBERTY® Endovascular Robotic Surgical System.
• ADMA Biologics to Join S&P SmallCap 600 Index: ADMA Biologics has announced it will join the S&P SmallCap 600 index, effective prior to the open of trading on Monday, September 23, 2024.
• Community Health Systems Acquires Urgent Care Centers: Community Health Systems, Inc. has announced that its subsidiary, Northwest Urgent Care, LLC, has agreed to buy 10 urgent care centers in Arizona from Carbon Health.
• Noridian Healthcare Solutions Appoints Kim Brandt: Noridian Healthcare Solutions, LLC has announced the appointment of Kim Brandt to its board of directors. Brandt, a respected health care policy expert and former high-ranking official at the Centers for Medicare & Medicaid Services (CMS), joins the board as Noridian continues to expand into new markets.
• Employer Direct Healthcare Becomes Lantern: The specialty care platform formerly known as Employer Direct Healthcare (EDH) has become Lantern, and the company is announcing its newest product offering – Infusion Care. Lantern is also expanding its in-house clinical team to further build on its reputation for quality.
• Ventas Secures Agreement with Kindred Healthcare and ScionHealth: Ventas has secured an agreement with Kindred Healthcare, LLC and ScionHealth regarding 23 long-term acute care hospitals (LTACs).
• Accumulus Synergy Welcomes CSL: Accumulus Synergy, and its Founding Sponsors are proud to welcome CSL as its first member organization. This collaboration marks significant progress in collectively bringing together industry stakeholders to advance the mission of dramatically accelerating critical therapies to citizens of the world.
• Quest Diagnostics Acquires BioReference Health Assets: Labcorp Holdings Inc. has announced the completion of its acquisition of select assets of BioReference Health — a wholly-owned subsidiary of OPKO Health, Inc.
• Penumbra Secures CE Mark for Lightning Flash 2.0 and Lightning Bolt 7: Penumbra, Inc. has secured the CE Mark in Europe for its newest computer-assisted vacuum thrombectomy (CAVT) technologies, Lightning Flash 2.0 and Lightning Bolt 7.
• NuCana plc Shares Soar on Positive Melanoma Trial Data: Shares of NuCana plc (NCNA) skyrocketed 150.8% on Monday after the announcement of encouraging final data from the mid-stage study of its investigational candidate, NUC-7738, in combination with Merck’s (MRK) blockbuster oncology drug, Keytruda (pembrolizumab), to treat metastatic melanoma.
• Clearmind Medicine Files Patent Application: Clearmind Medicine Inc. has filed a patent application for its combination therapy involving Ibogaine and N-Acylethanolamines. The therapy was developed in collaboration with SciSparc Ltd.
• Moderna Receives Health Canada Approval: Moderna, Inc. has announced that Health Canada approved its vaccine, SPIKEVAX, which aids in preventing COVID-19 in people six months of age or older.
• Oura Acquires Veri: Oura has announced that it has agreed to acquire Veri, a company that uses continuous glucose monitors to help users eat healthier and lose weight.
• US Biologic and USDA Announce Antibiotic Alternative: US Biologic, Inc. and the U.S. Department of Agriculture’s Agricultural Research Service (ARS) announce today findings of a new alternative to antibiotics in the face of coccidiosis and antimicrobial resistance, which cost the poultry industry $3.5B in annual losses worldwide and endanger the world’s food supply.

Key Figures and Statistics

• $1 Billion: Projected annual addressable opportunity for Merit Medical in the cardiac intervention market.
• $6.7 Billion: Sales generated by Mounjaro and Zepbound in the first half of 2024.
• $400 Million: Projected initial 12 months sales after the commercial approval for first BsADCs.
• $29 Billion: Potential annual savings in healthcare spending if all 50 states had medical cannabis laws.
• $145 Billion: Global TAM for GLP-1 medicines expected to reach by 2030.
• $25 Billion: Global TAM for treating Alzheimer’s disease expected to reach by 2033.
• $3.5 Billion: Annual losses for the poultry industry worldwide due to coccidiosis.
• $5 Million: Pledge from Blue Cross and Blue Shield of Minnesota to support the opening of a new Rural Behavioral Health Clinic.
• $189 Million: Amount that Ventas paid for five performing LTAC assets.
• $200 Million: Commitment from Northwest Healthcare to strategic growth and capital development across the Greater Tucson Metro area in the last five years.
• $1.6 Million: Estimated revenue shortfall from EGRIFTA SV® for Theratechnologies’ fiscal year 2024.
• $4 Million: Aggregate gross proceeds to Altamira Therapeutics from the public offering.
• $8 Million: Potential additional gross proceeds to Altamira Therapeutics from the Series A-1 common warrants and Series A-2 common warrants.
• $6,200,000: Gross proceeds to Kairos Pharma, Ltd. from its initial public offering.
• $210 Million: Cash consideration for Merit Medical’s acquisition of Cook Medical’s lead management portfolio.
• $20 Million: Upfront payment that Capricor Therapeutics will receive from Nippon Shinyaku Co., Ltd. for commercialization in Europe.
• $715 Million: Potential additional development and sales-based milestone payments to Capricor Therapeutics.
• $1.5 Billion: Potential total milestones from combined agreements with Nippon Shinyaku.
• $15 Million: Equity investment from Nippon Shinyaku in Capricor Therapeutics.
• $22,000,000: Intercompany Rennova debt that FOXO Technologies will receive in exchange for all of the equity interests of RCHI.
• $23,000: Payment that Treatment.com AI Inc. will make to Interactive Media Group of Texas, USA for a marketing awareness program.
• $187.65: Closing price of PEN stock on September 16, 2024.
• $139.57: Closing price of ASND stock on September 16, 2024.
• $14.27: Closing price of TVTX stock on September 16, 2024.
• $8.11: Closing price of RLAY stock on September 16, 2024.
• $99.64: Closing price of MMSI stock on September 16, 2024.
• $156.36: Closing price of DGX stock on September 16, 2024.
• $225.76: Closing price of LH stock on September 16, 2024.
• $403.43: Closing price of HCA stock on September 16, 2024.
• $73.14: Closing price of MRNA stock on September 17, 2024.
• $181.34: 52-week high of ICUI stock.

Economy & Real estate

US Economic Indicators

• Inflation Slowdown: Inflation in the US rose at its slowest pace in three years during August, with the Consumer Price Index (CPI) increasing by 0.1% month-over-month. This slowdown led to a surge in consumer sentiment to a four-month high in early September, as measured by the University of Michigan’s Consumer Sentiment Index. Year-ahead inflation expectations also edged down to 2.7% in September from 2.8% in August.
• Retail Sales Growth: Advance print US Retail Sales for August came in at +0.1%, exceeding expectations of -0.2%. This indicates continued consumer spending despite rising inflation and potential economic uncertainty.
• Labor Market Softening: The US labor market has shown signs of softening in recent months. The number of new jobs added per month shrunk to 115K in August, down from an average of +255K per month from November 2023 through March 2024. This suggests a potential cooling in the labor market, which could influence the Federal Reserve’s monetary policy decisions.

US Real Estate Outlook

• Homebuilding Recovery: The US homebuilding industry is expected to benefit from falling mortgage rates and the potential for Federal Reserve interest rate cuts in the near future. The combination of lower borrowing costs and a potential easing of monetary policy could lead to increased demand for new homes and a boost for homebuilders.
• Toll Brothers Expansion: Toll Brothers, Inc. (NYSE:TOL) is expanding its presence in Delray Beach, Florida with a new community called Layton Pointe. This community will offer single-family homes featuring luxury amenities and is expected to open for sale in spring 2025. This expansion highlights the continued demand for high-end residential properties in desirable locations.
• La Rosa Holdings Acquisition: La Rosa Holdings Corp. (NASDAQ:LRHC) is planning to acquire a real estate firm with over 950 agents and a $19M revenue-generating SaaS platform. This acquisition is expected to boost innovation within La Rosa’s operations and propel the company towards an annualized revenue run rate of $100 million by the end of 2024. This strategic move underscores the growing importance of technology and digital solutions in the real estate industry.
• SmartCentres Distribution: SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) announced a distribution of $0.15417 per unit for the month of September 2024, representing $1.85 per unit on an annualized basis. This distribution reflects the REIT’s ability to generate consistent income and distribute it to its unitholders.

REIT Performance and Outlook

• SL Green Realty: SL Green Realty (SLG) stock has risen 38.5% in the past six months, outperforming the overall REIT industry. This strong performance is attributed to positive leasing activity in its Manhattan portfolio, leading to an increase in its 2024 FFO per share guidance. The company’s focus on high-quality properties in a prime location continues to attract tenants and drive value.
• Cousins Properties: Cousins Properties Inc. is a real estate investment trust primarily focused on the ownership, management, and development of properties in the Southern United States. The company has recently experienced notable revenue growth but faces challenges with cost management and overall profitability. The need to improve cost efficiency and maintain profitability is a key area for the company to address going forward.
• EastGroup Properties: EastGroup Properties Inc. is a REIT specializing in developing, acquiring, and operating industrial properties. The company has seen significant revenue growth and strong cost management, but its valuation metrics suggest a potential undervaluation compared to its peers. This indicates that investors may not be fully recognizing the company’s strong performance and potential for future growth.
• JLL: Jones Lang LaSalle Incorporated (JLL) is expected to benefit from continued strength in its resilient lines of business and favorable outsourcing trends. However, the company faces challenges from persistent macroeconomic uncertainty. The company’s ability to navigate these challenges and maintain its growth trajectory will be crucial in the coming months.

International Real Estate

• EfTEN Real Estate, Estonia: EfTEN Tähesaju tee OÜ, a subsidiary of EfTEN Real Estate Fund AS, has finalized the sale of a property located at Tähesaju 5 in the Tähesaju retail park in Lasnamäe, Tallinn to AS Kinnisvara Info. The property was sold for 4,675 thousand euros. This transaction reflects ongoing activity in the Estonian commercial real estate market.
• ERES, Netherlands & Germany: European Residential Real Estate Investment Trust (TSX:ERE.UN) (“ERES”) announced the sale of 3,179 residential suites in the Netherlands and one commercial building in Germany for a total of $1.1 billion in aggregate proceeds. This significant transaction indicates ERES’s strategic focus on capital recycling and maximizing shareholder value.
• GREA Expansion, US East Coast: Global Real Estate Advisors (GREA) is expanding its East Coast presence with two new offices and has appointed Tiffany Wright as its new Chief Executive Officer. This expansion reflects GREA’s commitment to expanding its operations and serving a wider client base in the region.

Retail

Sales Performance

• Kohl’s Sales Struggle: Kohl’s (KSS) continues to struggle with weak sales growth. Comparable sales were down 5.1% in the second quarter of 2024, while net sales decreased 4.2% year-over-year to $3.5 billion. For the first six months of 2024, net sales are down 4.7% year-over-year, and comparable sales are down 4.8%. Kohl’s projects a net sales decline of 4% to 6% for the full year, with comparable sales decreasing 3% to 5%. The company is attempting to squeeze earnings out of weaker revenue streams, but this is not sustainable long term.
• Amazon Prime Big Deal Days Return: Amazon (AMZN) has announced the return of Prime Big Deal Days on October 8-9. The event will offer deals on winter fashion essentials, Halloween costumes, electronics, and everyday necessities. Amazon expects to offer new deals as frequently as every 5 minutes. The event will be held in 18 countries, including the U.S.
• DavidsTea Reports Sales Growth: DavidsTea Inc. (DTEA) reported sales growth of 12.8% year-over-year for the second quarter of fiscal 2024. Sales in Canada increased 14.9%, while U.S. sales remained unchanged. Tea and variety box assortment sales increased 13.7%, while tea accessories sales decreased by 14.0%. The company is opening new locations in Canada, focusing on both brick-and-mortar and online operations.

Industry Trends

• Discount Retail Dynamics: The Retail – Discount Stores industry is undergoing a transformation due to economic pressures and changing consumer behaviors. Inflation and higher interest rates are impacting consumer spending patterns. Discount retailers are focusing on deepening customer engagement, adding more compelling products, and enhancing digital and data analytics capabilities. Inventory management, supply chain enhancements, and cost structure realignment are also priorities.
• Soft Demand and Margin Pressure: The Retail – Discount Stores industry faces challenges from soft demand and pressure on margins. Consumers are seeking better bargains, while retailers are facing higher costs from marketing, advertising, and shipping.
• Digitization Key to Growth: Retailers are investing in digital platforms, accelerating fleet optimization, and enhancing supply chains. They are also investing in store renovations and mobile point-of-sale capabilities to keep physical stores relevant.

Leadership Changes

• Starbucks CEO Resigns: Michael Conway, Starbucks’ North America CEO, has resigned after only six months in the role. Conway will remain with the company until November 30 to assist with the leadership transition. Starbucks will not appoint a new CEO for North America, with Sara Trilling, the company’s North American president, taking over oversight of retail operations.

Company Performance

• Sprouts Farmers Market Growth: Sprouts Farmers Market (SFM) is experiencing strong growth. The company has seen a surge in e-commerce sales and is aggressively expanding its store base. Sprouts has a track record of exceeding earnings estimates, and analysts have been increasing their earnings estimates lately.
• Burlington Stores Adaptability: Burlington Stores (BURL) has demonstrated a strong ability to adapt to consumer trends. The company has a history of exceeding earnings estimates, and analysts anticipate continued growth.
• Costco’s Membership Advantage: Costco (COST) is benefiting from better price management, decent membership trends, and favorable product mix. The company’s distinctive membership business model and pricing power set it apart from traditional players.
• Target’s Omnichannel Focus: Target (TGT) is focused on enhancing its omnichannel capabilities, launching new brands, renovating stores, and expanding same-day delivery options. Target has a history of exceeding earnings estimates.

Other News

• 1985 Games New Dice Collection: 1985 Games, creators of Dungeon Craft and Obojima, is launching a new collection of dice sets with matching original art pins and stickers, “Fruit Meadows Milk Cartons: Kawaii Cat Dice Sets.” The collection features 12 sets of dice, each with a distinct personality and an irresistible charm.
• Knorr Bouillon Room Event: Knorr is opening the doors to The Bouillon Room, a one-night-only event that blends music and cooking. The event will feature a live DJ set and guests will be able to savor dishes cooked with music, made by Chef Eric Chong.

Infrastructure

Infrastructure Investments

• Electric Vehicle Infrastructure Investment in Canada: Bell and MacLean, Canada’s largest underground mining equipment manufacturer, are collaborating to accelerate the use of electric vehicles underground. Bell has installed a private mobile network at MacLean’s research facility in Sudbury, Ontario, to support the development of autonomous mining vehicles. This collaboration leverages Bell’s 5G/LTE network, enabling real-time monitoring data for enhanced safety and productivity in mining operations.
• Renewable Energy Development in the US: Heelstone Renewable Energy, acquired by Qualitas Energy in May 2024, has appointed three senior professionals to enhance its operations at its Durham, North Carolina headquarters. These appointments include a new Chief Financial Officer, Vice President of Mergers and Acquisitions, and Senior Vice President for Engineering, Procurement and Construction (EPC). Heelstone’s extensive portfolio and growing presence in US markets demonstrate the company’s commitment to becoming a leading Independent Power Producer (IPP) platform.

Infrastructure Projects

• Water Infrastructure Project in Northern Ireland: AECOM has been selected by Northern Ireland Water (NI Water) to provide a range of services under its IF182 Professional Services Framework. This four-year contract, with an option for an additional four years, will see AECOM manage civil and mechanical, electrical, instrumentation, control, and automation site supervision services. AECOM will also handle feasibility studies, design, project management, and climate change management for NI Water.
• Power Infrastructure Project in the US: The New York Power Authority (NYPA) successfully installed a remotely operated beyond visual line of sight (BVLOS) drone dock at its Blenheim-Gilboa Power Project site. The installation, facilitated by NUAIR, allows for safer, faster, and more detailed inspections, improving efficiency and reducing inspection times.

Infrastructure Technology

• Ship Hull Inspection Market Growth: The global ship hull inspection services market is expected to reach US$ 3.45 billion in 2024 and is projected to grow at a CAGR of 8.9% through 2034. This growth is driven by increasing safety, efficiency, and compliance requirements, as well as advancements in technology such as remote sensing and underwater robots.
• Advanced Airborne Electronic Warfare System in the US: L3Harris Technologies (LHX) received a five-year, $587.4 million contract from the US Air Force to deliver custom tactical jamming pods for the Next Generation Jammer-Low Band (NGJ-LB) system. This advanced electronic warfare system will modernize the US Navy’s Aerial Electronic Attack capability, offering improved lethality, scalability, and enhanced jamming capabilities.

Infrastructure Services

• Engineering Services for Defense in the US: KBR, Inc. (KBR) secured a 60-month, $140 million contract from the US Air Force to provide critical engineering tasks for the Air Force Life Cycle Management Center (AFLCMC). The company will conduct research and analyses to enhance reliability, maintainability, and life cycle management of various systems, including the F-16, A-10, and T-38.
• Renewable Energy Program for Cities in the US: The cities of Grand Rapids and Kalamazoo, Michigan, joined the Consumers Energy Renewable Energy Program (REP), enabling them to match 100% of their energy use with cost-effective wind and solar power. This program represents a significant step toward achieving their sustainability goals and reducing greenhouse gas emissions.

Commodities

Metals

• Aluminum Ingot Shipment: JP 3E Holdings, Inc. (SPZI) shipped 500 metric tons of Aluminum Ingot (A7) as the first of a series of monthly shipments. The company’s Trade Finance platform, partnering with Bloxcross, facilitated this transaction. The rising popularity of electric vehicles and the shift towards sustainable manufacturing drive aluminum demand.
• Copper Anomaly Expansion: Fitzroy Minerals Inc. (FTZFF) discovered a significant copper anomaly expansion at its Polimet Gold-Copper-Silver Project in Chile. The company’s soil geochemistry survey identified 6.9 km of copper trends, making it a high-priority drilling target.
• Gold Production Growth: Barrick Gold Corporation (GOLD) plans to increase gold-equivalent ounce production from its existing assets by 30% by the end of the decade. This signifies the company’s focus on organic growth and its belief in its current portfolio’s value.
• Stelco Acquisition: Cleveland-Cliffs Inc. (CLF) received overwhelming shareholder approval for the acquisition of Stelco Holdings Inc. This deal, anticipated to finalize in the fourth quarter of 2024, will solidify Cleveland-Cliffs’ position as a leading North American steel producer.

Energy

• Fed Rate Cut Expectations: Bitcoin (BTC/USD) saw a 5.3% surge on Tuesday, driven by market expectations of the Federal Reserve’s interest rate decision on Sep. 18. Anticipation of a potential 50 basis point cut has fueled volatility, as investors speculate about future monetary policy direction.
• Natural Gas Price Outlook: Natural gas prices are predicted to remain stable during the shoulder season, with an increase anticipated post-October due to rising LNG exports. The EIA forecasts a significant increase in North American LNG export capacity, leading to tighter supply-demand dynamics and potentially higher prices.
• Wind Business Divestment: BP plc (BP) announced the sale of its onshore wind business in the United States, indicating a shift in its energy transition strategy. The company is now prioritizing solar partnerships and other renewable energy sources.

Other

• Share Repurchases: Steel Dynamics, Inc. (STLD) bought back $307 million of its common stock up to Sept. 11, 2024, demonstrating confidence in its earnings and cash flow outlook.
• Share Buyback Programs: Equinor ASA purchased 1,200,000 own shares from 9 to 13 September 2024 at an average price of NOK 267.7785 per share. The company also purchased 535,816 own shares at the Oslo Stock Exchange on September 13, 2024, at an average price of NOK 268.7489 per share. They announced a share buyback program for shares to be used in employee and management share-based incentive programs.
• Share Buyback: Endeavour Mining plc purchased 11,000 of its ordinary shares from Stifel Nicolaus Europe Limited.
• Hurricane Beryl Repairs: Century Aluminum resumed normal shipping operations at Jamalco’s Rocky Point port after completing Hurricane Beryl-related repairs.
• Geothermal Energy Curtailment: Geothermal energy companies in Iceland have issued partial power curtailment orders for industrial customers, including Century’s Grundartangi smelter.
• Photosol Day: Rubis will host a “Photosol Day” event to showcase the evolution of the photovoltaic markets, Photosol’s positioning, and its mid-term ambitions.
• Jushi Holdings Inc. (JUSH): CEO Jim Cacioppo waived his annual bonus entitlement for a lump sum cash payment, second lien notes, and options. The company also approved replacement options for executive officers and directors.
• Aurora Cannabis Inc. (ACB): Aurora Cannabis launched a new medical cannabis CBD lozenge in Canada, developed in partnership with Vectura Fertin Pharma. The company also secured a US patent for its auto-flowering technology.

Politics

US Election & Crypto

• Trump’s Crypto Regulatory Stance: Former President Donald Trump has expressed his belief that cryptocurrency builders facing SEC scrutiny would face harsher regulations under a Democratic administration. He claims to have observed a shift in the SEC’s approach towards crypto following his involvement in the industry.
• Thiel’s Predictions & Election Concerns: Peter Thiel, a prominent tech investor and Trump supporter, has predicted a landslide victory for Trump in 2024. While distancing himself from political spending, he remains optimistic about Trump’s prospects and has voiced concerns about potential electoral manipulation in a close election.
• Economic Policies in Debate: Economists have expressed a preference for Vice President Kamala Harris’s economic strategies over Trump’s. They view Trump’s proposed tariffs and budget measures as potentially detrimental, while praising Harris’s focus on social programs.

Government Funding & Shutdown

• Schumer’s Shutdown Warning: Senate Majority Leader Chuck Schumer has warned of a potential government shutdown, blaming Republican “poison pills” for stalling a stopgap funding deal. He expressed his concerns on social media, asserting that the public would hold Republicans accountable if the government shuts down.
• Deadline & Political Fallout: Lawmakers face pressure to reach a consensus on the funding deal before the September 30 deadline. Failure to do so could lead to a government shutdown, disrupting essential services and potentially generating political backlash ahead of the November elections.

US-China Relations & Taiwan

• Military Sale to Taiwan: The U.S. State Department has approved a potential $228 million military sale to Taiwan, including spare parts for aircraft, amid heightened tensions between the U.S. and China over Taiwan.
• China’s Warning: China’s ambassador to the United States has issued a stern warning, stating that the “Taiwan question” is a critical red line for China. This highlights the sensitive nature of U.S.-China relations and the potential for conflict in the region.

Global Aid & Africa

• Bill Gates’ Call for Increased Aid: Bill Gates, co-founder of the Bill & Melinda Gates Foundation, has called for wealthier nations to increase support for African countries. He cites a decline in aid to Africa, attributing it to funding shifts towards humanitarian crises like the Ukraine war.
• Foundation’s Focus: The Gates Foundation plans to grant $8.4 billion in 2024, continuing its focus on global health and climate change. Gates’ advocacy for increased aid to Africa aligns with his broader concerns about these issues.

Pennsylvania Election Polling

• Harris Leads in Pennsylvania: A recent USA Today/Suffolk poll indicates that Vice President Kamala Harris is leading Republican nominee Donald Trump in the key swing state of Pennsylvania. Harris’s lead is attributed, in part, to her perceived victory in a recent presidential debate.

Ukraine Conflict & Global Alliances

• North Korea’s Role in Ukraine Conflict: Ukraine’s military intelligence agency has asserted that North Korea has become Russia’s most vital ally in the Ukraine conflict, surpassing China. North Korea has provided significant military aid, including artillery ammunition and ballistic missiles.
• Russia’s Military Expansion: Russia’s military expansion, facilitated by support from North Korea and other allies, has positioned its army as the world’s second-largest, trailing behind China.

Stock Picks

Ark Invest Trades

• Robinhood Sale: Ark Invest sold 18,961 shares of Robinhood Markets Inc. (HOOD) from its Ark Fintech Innovation ETF (ARKF) for approximately $421,123. This move follows Robinhood’s recent settlement with California’s Department of Justice over cryptocurrency withdrawal restrictions and its shift from a meme stock platform to a more mature brokerage.
• Palantir Sale: Ark Invest’s ARK Innovation ETF (ARKK) sold 4,407 shares of Palantir Technologies Inc. (PLTR) for approximately $160,018. This follows the company’s stock surge due to its inclusion in the S&P 500 index.
• Other Notable Trades: Ark Invest made several other notable trades. Its ARKG fund purchased shares of Guardant Health Inc. (GH) and sold shares of Veracyte Inc. (VCYT). The ARKK fund bought shares of Shopify Inc. (SHOP) and sold shares of Roku Inc. (ROKU). The ARKQ fund sold shares of Materialise NV (MTLS).

Cracker Barrel Earnings

• Analyst Expectations: Analysts expect Cracker Barrel Old Country Store, Inc. (CBRL) to report fourth-quarter earnings of $1.10 per share, down from $1.79 per share in the year-ago period. Revenue is projected at $897.38 million compared to $836.73 million a year earlier.
• Recent Developments: Cracker Barrel appointed Sarah Moore as its new Chief Marketing Officer on July 18. The company’s shares rose 3.1% on Monday, closing at $40.45.
• Analyst Ratings: Several analysts have weighed in on Cracker Barrel. Truist Securities maintained a Hold rating with a price target of $42. Argus Research downgraded the stock to Hold. B of A Securities maintained an Underperform rating with a price target of $46. Citigroup maintained a Sell rating with a price target of $42. Piper Sandler maintained a Neutral rating with a price target of $70.

Motley Fool Stock Picks

• High-Growth Potential: Motley Fool contributors Jason Hall and Jeff Santoro recommend Dutch Bros (BROS) and Confluent (CFLT) as stocks that could deliver 10-fold returns.
• High-Risk, High-Reward: The analysts also recommend Rocket Lab (RKLB) and Celsius Holdings (CELH) as high-risk, high-reward stocks.

Tech Stock Valuation

• Defensive Stocks Lead: Defensive sectors like value, healthcare, and utilities have outperformed tech and the broader market in recent months.
• Attractive Tech Valuations: Despite lower prices, tech giants like Alphabet (GOOGL) and Meta Platforms (META) are trading at attractive valuations. Value stocks like Walmart (WMT), Procter & Gamble (PG), and Coca-Cola (KO) are relatively expensive.
• Growth Forecasts: Tech stocks are projected to deliver significantly higher earnings growth than value stocks over the next 3-5 years.

Warren Buffett’s Berkshire Hathaway Holdings

• Key Holdings: Coca-Cola (KO), American Express (AXP), and Ulta Beauty (ULTA) remain part of Berkshire Hathaway’s portfolio despite recent sales of other holdings.
• Coca-Cola: Berkshire holds a 9.3% stake in Coca-Cola, making it a top holding since 1988. The company projects revenue and EPS growth of 4% and 9%, respectively, from 2023 to 2026.
• American Express: Berkshire owns an 11% stake in American Express and expects revenue and EPS growth of 9% and 15%, respectively, from 2023 to 2026.
• Ulta Beauty: Berkshire acquired a 1.5% stake in Ulta Beauty in the second quarter of 2024. Analysts predict revenue and EPS growth of 3% from 2023 to 2026.