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Crude Oil Gains 1%; AT&amp;T Shares Rise After Q2 Earnings

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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Earnings

Dow Tumbles 300 Points; Tesla Shares Plunge After Q2 Results

On Tuesday, December 24th, U.S. markets closed higher in an abbreviated Christmas Eve session, driven by gains in megacap and growth stocks, marking a continued Santa Claus rally. The Dow and Nasdaq logged four-session gains, while Tesla&#8217;s surge boosted the consumer discretionary sector. Chipmakers like Broadcom and Arm Holdings also advanced despite elevated U.S. Treasury yields.
Every sector of the S&amp;P 500 ended in positive territory, led by notable gains in consumer discretionary, financial, and information technology stocks.
In economic data, the U.S. Redbook index rose 5.9% year-over-year last week, up from 4.8%. Meanwhile, the Fifth District composite manufacturing index improved to -10 in December from -14.
The Dow Jones Industrial Average was up 0.91% and closed at 43,297.03, the S&amp;P 500 closed higher by 1.10% at 6,040.00, and the Nasdaq Composite gained 1.35% to finish at 20,031.13.
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 gained 1.39% and ended the session at 39,578.00, led by gains in the Shipbuilding, Automobiles &amp; Parts, and Chemical, Petroleum &amp; Plastic sectors.</li>
<li>Australia markets closed for the Boxing Day holiday.</li>
<li>India&#8217;s Nifty 50 rose 0.16% to 22,438.20, and Nifty 500 was up 0.14%, closing at 23,761.95, led by gains in the Auto, Power, and Public Sector Undertakings sectors.</li>
<li>China&#8217;s Shanghai Composite rose 0.14% to close at 3,398.08, and the Shenzhen CSI 300 gained 0.05%, finishing the day at 3,987.48.</li>
<li>Hong Kong market closed for the first weekday after Christmas Day.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 closed for the Boxing Day holiday.</li>
<li>German markets closed for the Boxing Day holiday.</li>
<li>France&#8217;s CAC closed for the Boxing Day holiday.</li>
<li>U.K.&#8217;s FTSE 100 closed for the Boxing Day holiday.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.61% at $70.53/bbl, and Brent was up 0.56% at $73.58/bbl.</li>
<li>Natural Gas fell 2.31% to $3.421.</li>
<li>Gold was trading higher by 0.36% at $2,645.09, Silver was up 0.19% to $30.340, and Copper rose 0.11% to $4.1147.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were down 0.36%, S&amp;P 500 futures declined 0.39%, and Nasdaq 100 futures slid 0.42%.
Forex at 06:00 AM ET
The U.S. Dollar Index was down 0.04% to 108.16. USD/JPY rose 0.03% to 157.45, and USD/AUD rose 0.14% to 1.6048.
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Asian Markets Up, Europe Closed; Dollar Hovers Near 2-Year High - Global Markets Today While US Slept

<a href="https://www.globenewswire.com/Tracker?data=MvoSLa0RdJ-p44BY3TZ25mYKru5_318w0rZMXr5aH6I0DqWabfIEqtY-P3Do4r-ha3Ixwnyb-TlA3geaSdd-igUkFxl2N0FLfz6qXlXQEgw=">Hyperscale Data, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#NYSE">GPUS</a>), a diversified holding company ("Hyperscale Data" or the "Company"), today announced the completion of a $50 million preferred equity investment, whereby the Company sold that dollar amount through the issuance to Ault &amp; Company, Inc. ("Ault and Company") of 50,000 shares of Series C Convertible Preferred Stock (the "Series C Shares").&nbsp;Ault &amp; Company&nbsp;has invested $50 million through multiple closings over the past thirteen (13) months. This strategic influx of capital has enabled Hyperscale Data to accelerate its growth trajectory, enhance its technological offerings, and execute its business expansion plans more effectively, with a focus on becoming a pure AI data center company. The Company would like to remind its stockholders that on March 25, 2024, the Company and Ault and Company agreed to raise the aggregate offering of Series C Shares from $50 million to $75 million. This offering is continuing apace, but the Company cannot assure you when Ault and Company will complete the remaining purchases of $25 million in Series C Shares, if at all.

GPUS

Hyperscale Data Secures $50M Investment, Eyes AI Data Center Growth

In addition to this significant investment, Hyperscale Data is strategically spinning out all of its non-data center and non-Bitcoin mining assets. This move is aimed at refining the Company's core focus and reinforcing its commitment to leading the AI-driven data center industry.
 &nbsp;

Hyperscale Data Closes $50M Of Aggregate $75M Preferred Equity Investment From Ault & Company; Says It Is Strategically Spinning Out All Of Its Non-Data Center And Non-Bitcoin Mining Assets

Meiwu Technology Regains Compliance With Nasdaq Listing Rule, Which Requires Ordinary Shares To Maintain Minimum Bid Price

Shares of&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) dropped by 4.08% following the company&#8217;s announcement to issue more shares to finance additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) acquisitions. This move aligns with MicroStrategy&#8217;s ongoing strategy to bolster its Bitcoin reserves.
What Happened: MicroStrategy&#8217;s recent filing&nbsp;with the U.S. Securities and&nbsp;Exchange Commission (SEC) aims to expand&nbsp;the authorized number of Class&nbsp;A&nbsp;common stock from 330 million&nbsp;to 10.33 billion units and&nbsp;preferred stock from 5 million&nbsp;to over 1 billion units.&nbsp;This move underscores the company&#8217;s transition from a software enterprise&nbsp;to a major Bitcoin investor.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42664692/bitcoin-flat-ethereum-dogecoin-spike-ahead-of-christmas-analyst-says-decline-in-btc-dominance-leaves-room-for-altcoins-to-pick-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Spike Ahead Of Christmas: Analyst Says Decline In BTC Dominance Leaves &#8216;Room For Altcoins To Pick Up&#8217;</a>
The company recently acquired&nbsp;$561 million worth of Bitcoin,&nbsp;marking its seventh consecutive week&nbsp;of purchases, with total holdings now estimated at $40 billion. Despite Bitcoin&#8217;s 135% increase this year, market volatility is expected as $43 billion in&nbsp;Bitcoin and Ether derivatives are&nbsp;due to expire on Friday.
Meanwhile, Bitcoin Thursday during pre-market hours was trading at $95,621.41. The cryptocurrency briefly hit an intraday peak of $99,876.70. A broader cryptocurrency index, which includes tokens such as Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), also experienced a minor recovery, rising by 0.2%.
Why It Matters: MicroStrategy&#8217;s decision to issue more shares comes on the heels of its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">recent inclusion in the Nasdaq 100</a>, which has not been without challenges. The company&#8217;s stock fell over 8.5% on its debut in the index, marking a difficult start to its tenure. Over the past month, MicroStrategy&#8217;s stock has plunged more than 37% from its all-time high, reflecting investor concerns over its aggressive Bitcoin strategy. The company&#8217;s recent sale of $561 million in common stock to purchase an additional 5,262 Bitcoins at an average price of $106,662 per coin has further intensified scrutiny.
The latest analyst ratings for MicroStrategy Inc were issued by Bernstein on Dec.12, and by both TD Cowen and Barclays on Nov. 25. These analysts, <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">tracked by Benzinga</a>, have set an average price target of $546.67, suggesting a potential upside of 58.01% for the stock.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/26062848/Screenshot-2024-12-26-at-4.58.41%E2%80%AFPM-1024x364.png" alt="" class="wp-image-707471" /></figure>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42673114/bitcoins-outperformance-could-leave-dogecoin-shiba-inu-sidelined-but-propel-pepe-dogwifhat-bonk-to-new-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Outperformance Could Leave Dogecoin, Shiba Inu Sidelined, But Propel Pepe, Dogwifhat, Bonk To New Highs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

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MicroStrategy Stock Tumbles Over 4% In Thursday Premarket: What's Going On?

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France Jobseekers Total For November 2,935.0K  Vs. 2,891.5K Prior

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains Anavex Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) with a Buy and raises the price target from $40 to $42.

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Analyst Ratings

AVXL

HC Wainwright & Co. Maintains Buy on Anavex Life Sciences, Raises Price Target to $42

Chinese EV startup Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) launched its new lower-priced EV brand Onvo in May this year. The brand started selling its first vehicle- the Onvo L60- in late September and since then, Nio sales have been on the rise.
What Happened: The Onvo L60 is a mid-size electric SUV that starts at 206,900 yuan ($28,347) with the battery pack included, much lower than Tesla&#8217;s affordable models Model 3 or Model Y in China.
In September, Nio delivered 832 Onvo L60s despite having only a few selling days. In October, the first full month of sales, Onvo deliveries rose to 4,319. In November, L60 deliveries rose to 5,082, implying demand for the vehicle. 
In August, the month before Onvo deliveries commenced, Nio delivered 20,176 vehicles, marking a growth of just 4.4% year-on-year.
In September, the first month of Onvo L60 deliveries, Nio&#8217;s total deliveries jumped 35.4% as compared to the corresponding period last year. In October and November, deliveries <a href="https://www.benzinga.com/24/12/42260165/li-auto-xpeng-nio-heres-how-november-deliveries-of-chinese-ev-startups-stack-up">marked an increase of 30.5% and 29%</a>, respectively.
Why It Matters: Nio identifies itself as a premium EV brand. Its ET9, for instance, starts at 788,000 yuan, including the battery. 
The low-cost EV from the company&#8217;s Onvo brand has helped it move to the low-cost EV segment which has significant demand.
Earlier this month, Nio also <a href="https://www.benzinga.com/24/12/42550944/whats-going-on-with-nio-stock-today">launched a new brand called Firefly</a>, touted as a rival to Mercedes&#8217; Smart and BMW&#8217;s Mini. The brand&#8217;s first vehicle shares its name and pre-sales started at a price of 148,800 yuan. It is expected to be launched in April 2025.
Check out more of Benzinga&#8217;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 Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42668333/tesla-model-x-lucid-gravity-or-rivian-r1s-which-three-row-electric-suv-is-a-better-buy" target="_blank" rel="noreferrer noopener">Tesla Model X, Lucid Gravity Or Rivian R1S: Which Three-Row Electric SUV Is A Better Buy?</a></li>
</ul>
Photo courtesy: Nio

Tech

Nio's Onvo Brand Helps Spur Delivery Growth With Cheaper Offering

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains PolyPid (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPD#NASDAQ">PYPD</a>) with a Buy and lowers the price target from $14 to $11.

PYPD

HC Wainwright & Co. Maintains Buy on PolyPid, Lowers Price Target to $11

Raymond James analyst C. Gregory Peters maintains Kemper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMPR#NYSE">KMPR</a>) with a Strong Buy and raises the price target from $75 to $82.

KMPR

Raymond James Maintains Strong Buy on Kemper, Raises Price Target to $82

NVNI

Nvni Group Reported FY23 Revenue Growth Of 36% YoY

SATS

Microelectronics Technology Enters Strategic Partnership With EchoStar To Advance Development Of Energy-Efficient Open RAN Macro Radios With NTIA Grant

HC Wainwright &amp; Co. analyst Raghuram Selvaraju upgrades RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) from Neutral to Buy and maintains the price target from $10 to $10.

Upgrades

RAPT

HC Wainwright & Co. Upgrades RAPT Therapeutics to Buy, Maintains Price Target to $10

Demand for <a target="_blank" href="https://www.benzinga.com/topic/ai" rel="noreferrer noopener">artificial intelligence-enabled</a> smartphones could serve as a buffer for parts of the semiconductor industry against a potential slowdown in data center investments, Financial Times <a target="_blank" href="https://www.ft.com/content/54c3d188-9c5d-4664-94c4-366207ef9aad" rel="noreferrer noopener">cites</a> Doug Lefever, CEO of Advantest, a Japanese supplier of chip testing equipment for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Lefever expressed concern over possible dips in spending by <a target="_blank" href="https://www.benzinga.com/news/24/09/41066968/microsoft-google-meta-pave-path-to-ai-expansion-nvidia-and-broadcom-set-to-reap-benefits" rel="noreferrer noopener">major U.S. tech companies</a>, such as Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which have been driving the construction of advanced data centers.
Lefever told the FT that while fluctuations in data center spending may not last long, any decline could significantly disrupt the semiconductor supply chain due to its reliance on hyperscalers.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42675098/netflix-takes-vmware-to-court-over-patent-infringement-claims" rel="noreferrer noopener">Broadcom and Netflix Clash Over Patent Disputes Ahead of 2025 Trial</a>
He added that the industry&#8217;s cyclical nature could lead to what he described as &#8220;vicious&#8221; downturns. However, he remained optimistic about the potential growth of AI smartphones, suggesting that a breakthrough application could rapidly drive consumer demand and spark a wave of handset replacements.
Advantest, headquartered in Tokyo, holds over 50% of the semiconductor testing market and has benefited from the rising complexity and cost of chips.
Lefever highlighted the growing complexity of chip testing, with Nvidia&#8217;s latest Blackwell products requiring three to four times longer to test than previous generations, as a key driver of sustained demand for Advantest&#8217;s solutions.
The company&#8217;s success extends to high-end testing equipment, which costs $1 million per unit and boasts a market share exceeding 60% in specific categories. Despite geopolitical challenges, such as U.S. restrictions on China, Lefever told the FT that increased demand elsewhere quickly offset lost sales in China. He emphasized that Advantest remains well-positioned globally, with operations in 18 countries and a diversified customer base.
Apple began introducing its <a target="_blank" href="https://www.benzinga.com/news/24/10/41526650/apples-ai-powered-future-iphone-growth-surge-by-2026-with-new-iphone-17-ai-integration-analyst-says" rel="noreferrer noopener">Apple Intelligence features</a> on October 28 with the launch of iOS 18.1, offering initial AI functionalities.
The rollout will continue with iOS 18.2, including ChatGPT integration and advanced tools like Visual Intelligence and Genmoji, aiming to boost future sales.
Needham&nbsp;analyst Laura Martin expects Apple iPhone to account for up to 96% of the <a target="_blank" href="https://www.benzinga.com/news/24/09/41005053/apple-iphone-to-fuel-96-of-2025-revenue-analyst-says-a-safer-bet-than-ai-heavy-amazon-alphabet-micro" rel="noreferrer noopener">company&#8217;s 2025 revenue</a>.
International Data Corporation (IDC) had <a target="_blank" href="https://www.benzinga.com/news/24/08/40600289/apples-market-share-poised-to-gain-genai-and-iphone-16-lead-the-way-idc" rel="noreferrer noopener">reignited confidence in</a> smartphone manufacturers, including Apple, with a new market forecast projecting a 5.8% rise in global smartphone shipments to 1.23 billion units in 2024, recovering after two tough years.
The report highlighted increased demand for budget Android smartphones in China and emerging markets and strong adoption of generative AI smartphones in premium markets as key growth drivers.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42672262/hive-digital-boosts-ai-ambitions-with-30-million-nvidia-gpu-deployment" target="_blank" rel="noreferrer noopener">HIVE Digital Boosts AI Ambitions With $30 Million Nvidia GPU Deployment</a></li>
</ul>
Image via Shutterstock.

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GOOG

MSFT

NVDA

AI Smartphones To Cushion Semiconductor Industry Amid Data Center Uncertainty: Report

This appointment not only introduces strong leadership to Color Star but also strengthens the company's ties with the Middle East, particularly the UAE.

Management

Reported Earlier, Color Star Technology Says Shaikh Humaid Abdulla Rashed Ahmed Almualla, A Prominent Member Of The UAE Royal Family, Has Joined As An Independent Director

HC Wainwright &amp; Co. analyst Andrew Fein initiates coverage on Palvella Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PVLA#NASDAQ">PVLA</a>) with a Buy rating and announces Price Target of $38.

Initiation

PVLA

HC Wainwright & Co. Initiates Coverage On Palvella Therapeutics with Buy Rating, Announces Price Target of $38

Raymond James analyst C. Gregory Peters downgrades Hagerty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HGTY#NYSE">HGTY</a>) from Market Perform to Underperform.

Downgrades

HGTY

Raymond James Downgrades Hagerty to Underperform

Needham analyst Chris Pierce maintains ACV Auctions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACVA#NASDAQ">ACVA</a>) with a Buy and raises the price target from $26 to $28.

ACVA

Needham Maintains Buy on ACV Auctions, Raises Price Target to $28

Raymond James analyst Aaron Kessler upgrades EverQuote (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVER#NASDAQ">EVER</a>) from Outperform to Strong Buy and maintains the price target from $35 to $35.

EVER

Raymond James Upgrades EverQuote to Strong Buy, Maintains Price Target to $35

Raymond James analyst C. Gregory Peters upgrades Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) from Market Perform to Outperform and announces $305 price target.

Raymond James Upgrades Progressive to Outperform, Announces $305 Price Target

Pieris Pharmaceuticals OKs 1-for-80 reverse stock split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) just reported results for the first quarter of 2024.<ul><li>Pieris Pharmaceuticals reported earnings per share of -$3.95.</li><li>The company reported revenue of $53,000.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/pirs-stock-earnings-pieris-pharmaceuticals-for-q1-of-2024/">PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q1 2024

The latest announcement is out from Pieris Pharmaceuticals (PIRS). Pieris Pharmaceuticals, Inc. has received a notice from Les Laboratoires Servier...

Pieris Pharmaceuticals Faces Agreement Termination and Pursues New Opportunities

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers for Wednesday morning as we check out all of the hottest news to start the day with!



Moving stocks this morning a partnerships, a public offering, clinical trial news and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Dermata Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/drma-stock-quote/">DRMA</a>) stock is rocketing more than 123% alongside heavy pre-market trading.</li>



<li>Nuzee (NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) shares are soaring over 75% with strong early morning trading.</li>



<li>Hoth Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/hoth-stock-quote/">HOTH</a>) stock is surging more than 45% <a href="https://www.nasdaq.com/press-release/hoth-therapeutics-partners-lts-therapy-systems-accelerate-novel-alzheimers-treatment">on a new partnership</a> to develop its Alzheimer&rsquo;s treatment.</li>



<li>Allarity Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/allr-stock-quote/">ALLR</a>) shares are increasing over 44% after encouraging investors to <a href="https://finance.yahoo.com/news/allarity-encourages-shareholders-vote-reverse-100000785.html">vote for a reverse stock split</a>.</li>



<li>Regencell Bioscience (NASDAQ:<a href="https://investorplace.com/stock-quotes/rgc-stock-quote/">RGC</a>) stock is heading more than 33% higher alongside strong pre-market trading.</li>



<li>Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) shares are rising over 28% after <a href="https://www.nasdaq.com/press-release/palvella-therapeutics-and-pieris-pharmaceuticals-announce-definitive-merger-agreement">announcing a merger agreement</a>.</li>



<li>Bone Biologics (NASDAQ:<a href="https://investorplace.com/stock-quotes/bblg-stock-quote/">BBLG</a>) stock is jumping more than 23% with heavy early morning trading today.</li>



<li>NewGenIvf (NASDAQ:<a href="https://investorplace.com/stock-quotes/nivf-stock-quote/">NIVF</a>) shares are climbing over 22% after providing a <a href="https://www.nasdaq.com/press-release/newgenivf-provides-update-potential-reverse-merger-covirix-2024-07-23">reverse merger update</a>.</li>



<li>Perfect Moment (NYSEMKT:<a href="https://investorplace.com/stock-quotes/pmnt-stock-quote/">PMNT</a>) stock is getting a close to 19% boost after announcing a <a href="https://www.nasdaq.com/press-release/perfect-moment-teams-quiet-platforms-establish-distribution-center-us-2024-07-22">distribution center agreement</a>.</li>



<li>Catheter Precision (NYSEMKT:<a href="https://investorplace.com/stock-quotes/vtak-stock-quote/">VTAK</a>) shares are up more than 16% without any clear news this morning.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Azitra&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/aztr-stock-quote/">AZTR</a>) stock is crashing over 73% but only <a href="https://investorplace.com/2024/07/why-is-azitra-aztr-stock-up-315-today/">after a massive rally yesterday</a>.</li>



<li>Conn&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/conn-stock-quote/">CONN</a>) shares are plummeting 28% on <a href="https://www.12newsnow.com/article/news/local/texas/conns-reportedly-planning-mass-closures/502-4db60564-6fdd-4ffa-ae26-899bec91f75c">reports of impending store closures</a>.</li>



<li>ATI Physical Therapy (NYSE:<a href="https://investorplace.com/stock-quotes/atip-stock-quote/">ATIP</a>) stock is diving more than 25% without any obvious news this morning.</li>



<li>Verastem (NASDAQ:<a href="https://investorplace.com/stock-quotes/vstm-stock-quote/">VSTM</a>) shares are tumbling over 25% on a <a href="https://finance.yahoo.com/news/verastem-oncology-announces-proposed-public-200500583.html">proposed public offering</a>.</li>



<li>Agape ATP (NASDAQ:<a href="https://investorplace.com/stock-quotes/atpc-stock-quote/">ATPC</a>) stock is taking an almost 24% beating after a rally yesterday.</li>



<li>AtlasClear (NYSEMKT:<a href="https://investorplace.com/stock-quotes/atch-stock-quote/">ATCH</a>) shares are sliding more than 22% despite a lack of news on Wednesday.</li>



<li>Sage Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/sage-stock-quote/">SAGE</a>) stock is dropping over 22% after reporting <a href="https://www.nasdaq.com/press-release/sage-therapeutics-and-biogen-announce-topline-results-phase-2-kinetic-2-study-sage">Phase 2 topline results</a>.</li>



<li>Volato (NYSEMKT:<a href="https://investorplace.com/stock-quotes/soar-stock-quote/">SOAR</a>) shares are decreasing more than 21% <a href="https://www.nasdaq.com/press-release/volato-updates-fractional-program-additional-differentiated-benefits-2024-07-23">after a recent rally</a>.</li>



<li>Chijet Motor (NASDAQ:<a href="https://investorplace.com/stock-quotes/cjet-stock-quote/">CJET</a>) stock is slipping over 19% following yesterday&rsquo;s rally.</li>



<li>Salarius Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/slrx-stock-quote/">SLRX</a>) shares close out our pre-market stock movers down more than 19% after a rally yesterday.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday

Pieris Pharma surges on all-stock merger deal

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Allarity Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/allr-stock-quote/">ALLR</a>) stock is on the rise Wednesday as the clinical-stage biopharmaceutical company is encouraging its shareholders to vote in favor of a <a href="https://finance.yahoo.com/news/allarity-encourages-shareholders-vote-reverse-100000785.html">reverse stock split</a>.



Allarity Therapeutics put out a press release pushing for investors to approve the reverse stock split during an upcoming shareholder meeting. That meeting is set to take place on Friday.



Allarity Therapeutics is also advising its investors to approve the reduction of its authorized shares alongside the reverse stock split. It says that investors who have previously voted against these matters should reconsider their decision.



Here&rsquo;s a porition of what the company said to investors in the news release.




&ldquo;Failure to secure approval for the reverse stock split may hinder management&rsquo;s ability to execute its strategy, to the potential detriment of stockholders. Additionally, it may impede business development initiatives dependent on the issuance of common stock. It is essential to understand that a reverse stock split consolidates existing shares, preserving the Company&rsquo;s overall value and each shareholder&rsquo;s respective ownership percentage.&rdquo;




<h2>What&rsquo;s Behind the ALLR Reverse Stock Split?</h2>



Allarity Therapeutics is pushing for this reverse stock split to avoid the delisting of its shares. The company&rsquo;s stock is trading well below the $1 minimum bid price required to remain on the Nasdaq Exchange.



ALLR stock is up 4.6% as of Wednesday afternoon. That comes with 59 million shares traded as compared to a daily average of about 7 million shares.



Investors will want to keep reading for more of the most recent stock market stories!



We have all of the hottest stock market news investors need to know about on Wednesday! A few examples include what&rsquo;s happening with shares of General Motors&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) and Pieris Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) stock, as well as other stock market stories for today! You can find out all about these topics at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/general-motors-is-backing-down-on-electric-vehicles-whats-going-on/">General Motors Is Backing Down on Electric Vehicles. What&rsquo;s Going On?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-pieris-pharmaceuticals-pirs-stock-up-77-today/">Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-are-stocks-down-today-69/">Why Are Stocks Down Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/allr-stock-alert-allarity-therapeutics-pushes-shareholders-to-back-reverse-split/">ALLR Stock Alert: Allarity Therapeutics Pushes Shareholders to Back Reverse Split</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ALLR Stock Alert: Allarity Therapeutics Pushes Shareholders to Back Reverse Split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) stock is rocketing higher on Wednesday after <a href="https://finance.yahoo.com/news/palvella-therapeutics-pieris-pharmaceuticals-announce-103000148.html">announcing a merger agreement</a> with Palvella Therapeutics.



Pieris Pharmaceuticals and Palvella Therapeutics will enact an all-stock transfer for this merger. That will result in Pieris Pharmaceuticals issuing shares of PIRS stock to Palvella stockholders. This will cancel out those investors shares of capital stock of Palvella.



Pieris Pharmaceuticals notes that after the merger, 18% of the combined company will belong to pre-merger PIRS shareholders. The remaining 82% will belong to current investors in Palvella.



Palvella founder and CEO Wes Kaupinen said the following about the merger.




&ldquo;The expected proceeds from the merger and concurrent private financing are expected to fund us through multiple clinical trial milestones, including generating results from the single-arm, baseline-controlled Phase 3 clinical trial of QTORIN&trade; rapamycin for the treatment of microcystic lymphatic malformations, a serious, rare and chronically debilitating genetic disease for which there are currently no FDA-approved therapies.&rdquo;




<h2>What This Means for PIRS Stock</h2>



When this merger closes, Palvella Therapeutics will be the surviving company. This will see its board of directors made up of four current Palvella members and one member from Pieris Pharmaceuticals. The deal is set to close in Q4 2024.



PIRS stock is up 77.3% as of Wednesday morning with 5 million shares traded. Its daily average trading volume is only about 20,000 shares.



Investors will want to keep reading for more of the most recent stock market stories!



We have all of the hottest stock market news that investors need to know about on Wednesday. A few examples include what&rsquo;s happening with stocks today and more of the latest news. All of that info is ready at the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-are-stocks-down-today-69/">Why Are Stocks Down Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-hoth-therapeutics-hoth-stock-moving-today/">Why Is Hoth Therapeutics (HOTH) Stock Moving Today?</a></li>



<li><a href="https://investorplace.com/2024/07/rivn-stock-alert-rivian-must-face-lawsuit-over-alleged-tesla-trade-secret-theft/">RIVN Stock Alert: Rivian Must Face Lawsuit Over Alleged Tesla Trade Secret Theft</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/why-is-pieris-pharmaceuticals-pirs-stock-up-77-today/">Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) just reported results for the second quarter of 2024.<ul><li>Pieris Pharmaceuticals reported earnings per share of -$2.76.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q2 2024

Pieris Pharmaceuticals ( ($PIRS) ) has shared an announcement. Pieris Pharmaceuticals announced the approval of several key proposals during a spec...

Pieris Pharmaceuticals Announces Merger and Share Increase

New option listings for December 16th include Pieris Pharmaceuticals (PVLA). Option delistings effective December 16th include Pieris Pharmaceutica...

One new option listing and one option delisting on December 16th

ATIP

HOTH

PMNT

SLRX

VTAK

Press Releases

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Pieris Pharmaceuticals, Inc. - PIRS

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AFBI, ENV, PIRS, BALY on Behalf of Shareholders

PIRS Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Pieris Pharmaceuticals, Inc. Is Fair to Shareholders

Health Care

Palvella Therapeutics Awarded Up to $2.6 million Grant from the U.S. Food and Drug Administration (FDA) Office of Orphan Products Development to Support Phase 3 Single-Arm, Baseline-Controlled Trial in Microcystic Lymphatic Malformations

Palvella Therapeutics Announces Presentations at the 12th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference

Palvella Therapeutics Appoints Matthew E. Korenberg as Chief Financial Officer

Palvella Therapeutics Announces First Patient Dosed in SELVA Phase 3 Clinical Trial of QTORIN™ 3.9% Rapamycin Anhydrous Gel (QTORIN™ rapamycin) for the Treatment of Microcystic Lymphatic Malformations

PIERIS PHARMACEUTICALS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Pieris Pharmaceuticals, Inc. - PIRS

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CYTH, BRKH, PIRS, CFB on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates PIK, ACNB, PIRS, OBDE on Behalf of Shareholders

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