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Palayan Resources Inc

Vivos Therapeutics, Inc. ("Vivos" or the "Company") (NASDAQ:<a href="https://www.benzinga.com/stock/VVOS#NASDAQ">VVOS</a>), a medical technology company specializing in the development and commercialization of highly effective proprietary treatments for sleep-related breathing disorders, including obstructive sleep apnea (OSA) in adults and children, today announced the American Medical Association (AMA) has issued new CPT&#xAE; medical codes applicable to all Vivos CARE oral medical devices, which will become effective January 1, 2025. &nbsp;
Vivos Chairman and CEO, Kirk Huntsman, stated, "This is exciting news for OSA patients and medical providers who treat sleep breathing disorders. Our CARE oral medical devices are the only ones cleared by the U.S. Food and Drug Administration for the treatment of moderate to severe OSA, and these new medical codes will now facilitate coverage and reimbursement by commercial medical insurance payers. From Vivos' perspective, we believe this will enable a larger number of patients from most demographics to access our breakthrough, proprietary airway remodeling technology and more effectively treat their OSA. This development comes at an opportune moment for Vivos as our recent regulatory approvals, coupled with our new alliance-based marketing and distribution model and now these new codes put Vivos in an improved position to drive revenue growth."
AMA Introduces 420 Updates in CPT&#xAE; 2025, Including New Codes for Vivos
In a recent press release, the AMA explained, "The emergence of medical innovations, new technologies and cutting-edge procedures spurred most of the annual changes presented in the release of the&nbsp;<a href="https://www.globenewswire.com/Tracker?data=rmauKNBxXv8VAtx_L-ayHzPsOR_nzmXHSycfk5xj0jpYn5vkEriXHUJycJWcVWmNiI3LGrxf3EYUWfMqahZynbuA5cAOE6SMFfuzdwS_yq5hQAL_C02gLrTLuu9ndvY4rKjVFdd2GlW-rPufO1yc8irvEoGztAJF7CKvFGupjAw=">Current Procedural Terminology</a>&nbsp;(CPT&#xAE;) 2025, the nation's uniform data-sharing code set for medical procedures and services. There are 420 overall updates in the CPT&#xAE; 2025 code set, including 270 new codes, 112 deletions, and 38 revisions."&nbsp;
"The CPT&#xAE; code set is the foundation for the efficient and effective exchange of standardized information in a data-driven health system…with the goal of delivering better patient care, improved outcomes and lower costs," said AMA President Bruce A, Scott, M.D. "The latest updates to the CPT&#xAE; code set reflect advancements in contemporary clinical practice."
Mr. Huntsman concluded, "This AMA approval represents our latest regulatory and reimbursement milestone, following another important approval Vivos received for Medicare coverage just a few months ago. As part of our mission, Vivos has worked to make its innovative OSA treatment protocols available to more people so they can improve their lives. With these new CPT&#xAE; codes, we are taking a major step towards making OSA treatment more accessible and affordable for patients nationwide, including children ages 6 to 17. This approval highlights our commitment to ensuring more people can receive the care they need while receiving greater support from their healthcare insurance plans."

Government

News

Regulations

VVOS

Vivos Therapeutics Gains AMA Approval for New Medical Codes, Expanding Access to Sleep Apnea Treatment

Keybanc analyst Sangita Jain maintains Tetra Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>) with a Overweight and raises the price target from $49 to $56.

Price Target

Analyst Ratings

TTEK

Keybanc Maintains Overweight on Tetra Tech, Raises Price Target to $56

The contract was executed in response to a request from the Ministry of Health in Morocco to make the therapy available in the country and help prepare and protect its citizens against any potential mpox outbreak.
Tecovirimat is approved in the U.S., Canada, and the EU, and while it has also been available in Africa through clinical trials and as part of the World Health Organization&#39;s emergency use access protocol, this agreement marks SIGA&#39;s first commercial sale of TPOXX on the continent.

Contracts

SIGA

SIGA Technologies Enters Agreement To Supply TPOXX (Tecovirimat) In Morocco

Sphere Entertainment Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPHR#NYSE">SPHR</a>) ("Sphere Entertainment" or the "Company") announced today that Mr. David F. Byrnes, the Company's Executive Vice President, Chief Financial Officer and Treasurer, will be leaving the Company. The Company will commence a search for a new Chief Financial Officer and Treasurer. Mr. Byrnes will continue in his current role for an interim period to facilitate a smooth transition.
&nbsp;
Mr. Byrnes has served as Executive Vice President, Chief Financial Officer and Treasurer of the Company since December 2023. Prior to that, he served as Executive Vice President and Chief Financial Officer of Madison Square Garden Entertainment Corp. ("MSG Entertainment") from January 2022 to December 2023. In these roles, Mr. Byrnes played a critical role in many strategic transactions, including the spin-off of MSG Entertainment from the Company in April 2023, the sale of the Company's majority interest in Tao Group Hospitality in May 2023, and two secondary stock offerings in June 2023 and September 2023, whereby the Company sold its remaining shares in MSG Entertainment.

Management

SPHR

Sphere Entertainment CFO David F. Byrnes To Depart, Company To Initiate Search For A New Finance Chief

Oppenheimer analyst Suraj Kalia initiates coverage on Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) with a Outperform rating and announces Price Target of $130.

Initiation

Oppenheimer Initiates Coverage On Abbott Laboratories with Outperform Rating, Announces Price Target of $130

This enables Hyzon to manufacture standardized FCSs at volume for commercial sale, further accelerating the decarbonization of heavy-duty industries.
According to Chief Operating Officer Bappa Banerjee, the declaration of the SOP validates Hyzon&#39;s ability to produce 700 fuel cell systems per year over a three-shift operation.

HYZN

Hyzon Reports Start Of Production Of Its Single-stack 200kW Fuel Cell System

Oppenheimer analyst Mitchel Penn initiates coverage on CION Invt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CION#NYSE">CION</a>) with a Perform rating and announces Price Target of $13.

CION

Oppenheimer Initiates Coverage On CION Invt with Perform Rating, Announces Price Target of $13

According to an analysis by Reventure Consulting CEO Nick Gerli, the U.S. housing market continues to show signs of problems even as mortgage rates edge lower. Despite recent rate declines, homebuyer demand remains depressed, with mortgage applications down 57% from their pandemic peak and 43% below pre-pandemic levels.
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The persistent weakness in buyer activity has <a href="https://www.benzinga.com/real-estate/24/08/40217155/housing-market-sees-more-cuts-but-its-not-enough-reventure-ceo-says-in-reality-prices-need-to-drop-1">caught many real estate professionals off guard</a>. Industry expectations of a quick rebound in response to falling rates have not materialized, reflecting deeper issues in the market beyond just financing costs.
Gerli stated that three key factors behind the sluggish demand are affordability constraints, buyer exhaustion following the pandemic boom, and record-high pessimism about the housing market. Recent data from the University of Michigan shows that 87% of consumers believe it's a bad time to buy a home—surpassing even the early 1980s, when mortgage rates hit 18%.
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Perhaps most concerning is the current home value-to-income ratio, which Gerli said stands at about 4.6, much higher than historical norms. This level has only been approached twice before: during the 2006 housing bubble (4.4) and the post-World War II boom (nearly 5.0). Major corrections in housing affordability followed both periods.
&#8220;The U.S. has never sustained a housing market that is this expensive relative to people&#8217;s incomes,&#8221; Gerli said on X, formerly Twitter. &#8220;The market is out of whack and buyers know it.&#8221;
Historical precedent suggests two primary paths to restoring balance: falling home prices or rising incomes. Following the 2006 bubble, prices crashed, bringing the ratio down to 3.2. In contrast, the post-war era saw gradual improvement through robust income growth, with housing becoming twice as affordable between 1953 and 1973.
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Looking ahead, Gerli anticipates a potential combination of both factors. Some markets—<a href="https://www.benzinga.com/real-estate/24/05/38921483/grant-cardone-hunts-for-multifamily-deals-in-sun-belt-as-market-struggles-with-declining-rents">particularly in the Sun Belt, where inventory has spiked</a>—may see quicker price corrections. Austin, Texas has already demonstrated how rapidly values can adjust under the right conditions. Other regions, especially in the Northeast and Midwest where supply remains tight, might experience a more prolonged period of stagnation.
He said the road to market normalization could take years, requiring a sustained period of falling mortgage rates, price adjustments, and wage growth to restore buyer confidence. This timeline contradicts more optimistic industry projections but aligns with current data showing persistent weakness in fundamental buyer demand—a trend that began in late 2021 when rates were still below 3%.
As the market grapples with imbalances, the possibility of a broader economic recession looms as a potential catalyst for accelerating price corrections, particularly in overvalued regions. For now, the housing market remains uncertain, with many potential buyers sidelined by financial constraints and deep skepticism about current market conditions.
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</ul>

Real Estate

Housing Market 'Out of Whack,' Says Reventure CEO: Home Values Still 4.6x Income, Worse Than 2006 Bubble

Hovde Group initiates coverage on First Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FXNC#NASDAQ">FXNC</a>) with a Outperform rating and announces Price Target of $22.

FXNC

Hovde Group Initiates Coverage On First Ntl with Outperform Rating, Announces Price Target of $22

PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) shares are trading lower after the company reported mixed third-quarter <a target="_blank" href="https://investors.pepsico.com/docs/default-source/investors/q3-2024/q3-2024-earnings-release_3zjmhjkr4wdt37ko.pdf" rel="noreferrer noopener">results </a>and lowered its 2024 organic revenue guidance.
The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion and organic growth of 1.3%, missing the consensus estimate of $23.825 billion.
The gross margin expanded by 94 bps to 55.4% for the quarter, and the operating margin contracted by 51 bps to 16.6%.
Net revenue from Frito-Lay North America decreased 1% year over year, Quaker Foods North America dropped 13%, and PepsiCo Beverages North America was flat.
Latin America sales fell 5% YoY, Europe sales rose 7%, Africa, Middle East and South Asia down 4%, and Asia Pacific, Australia and New Zealand and China sales declined 2%.
The company held $7.3 billion in cash and equivalents as of September 7. Operating cash flow for the nine months totaled $6.22 billion, compared to $7.63 billion in 2023.
Adjusted EPS of $2.31 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus estimate of $2.29.</a>
Related: <a target="_blank" href="https://www.benzinga.com/trading-ideas/previews/24/10/41217536/pepsi-q3-earnings-preview-can-the-beverage-giant-keep-beating-expectations-and-boost-reven" rel="noreferrer noopener">Pepsi Q3 Earnings Preview: Can The Beverage Giant Keep Beating Expectations and Boost Revenue Growth?</a>
Chairman and CEO Ramon Laguarta noted that the company&#8217;s businesses stayed resilient in the third quarter despite challenges from North American recalls, geopolitical tensions, and weak category trends. Strong cost controls boosted profitability alongside investments to improve competitiveness.
Laguarta commented, &#8220;Given our performance to date and our outlook for the fourth quarter, we now expect to deliver a low single-digit increase in organic revenue (previously approximately 4 percent organic revenue growth). We continue to expect to deliver at least 8 percent core constant currency EPS growth as we will focus on tightly managing our costs to better align with the subdued growth environment that we are currently operating in.&#8221;
2024 Outlook: PepsiCo expects a low-single-digit increase in organic revenue (previously ~4%) and continues to expect at least an 8% increase in <a href="https://www.benzinga.com/calendars/guidance">core constant currency EPS.</a>
PepsiCo&#8217;s assumption and guidance imply that 2024 adjusted EPS of at least $8.15 (consensus $8.15) will be a 7% increase year over year.
The company continues to expect total cash returns to shareholders to be approximately $8.2 billion, consisting of dividends of $7.2 billion and share repurchases of $1.0 billion.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41221590/pepsico-gears-up-for-q3-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-" rel="noreferrer noopener">PepsiCo Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Price Action: PEP shares are trading lower by 1.18% at $165.24 premarket at the last check Tuesday.
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Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41223849/pepsico-jpmorgan-and-wells-fargo-to-kick-off-earnings-season-as-investors-eye-s-p-5" target="_blank" rel="noreferrer noopener">PepsiCo, JPMorgan And Wells Fargo To Kick Off Earnings Season As Investors Eye S&amp;P 500 Near Record Highs: Interest Rates And Inflation In Focus</a></li>
</ul>

Earnings

Equities

Large Cap

Guidance

Movers

PepsiCo Adjusts 2024 Revenue Expectations After Mixed Q3 Performance And Global Challenges

Morgan Stanley analyst Andrew Percoco maintains SolarEdge Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) with a Equal-Weight and lowers the price target from $28 to $23.

SEDG

Morgan Stanley Maintains Equal-Weight on SolarEdge Technologies, Lowers Price Target to $23

Morgan Stanley analyst Judah Frommer initiates coverage on Bicara Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCAX#NASDAQ">BCAX</a>) with a Overweight rating and announces Price Target of $35.

BCAX

Morgan Stanley Initiates Coverage On Bicara Therapeutics with Overweight Rating, Announces Price Target of $35

TD Cowen analyst Tyler Van Buren initiates coverage on Bicara Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCAX#NASDAQ">BCAX</a>) with a Buy rating.

TD Cowen Initiates Coverage On Bicara Therapeutics with Buy Rating

Morgan Stanley analyst Vikram Purohit initiates coverage on Zenas BioPharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBIO#NASDAQ">ZBIO</a>) with a Overweight rating and announces Price Target of $40.

ZBIO

Morgan Stanley Initiates Coverage On Zenas BioPharma with Overweight Rating, Announces Price Target of $40

MAIN

Main Street Capital Announces $74.4M Investment To Recapitalize Victory Energy Operations

B of A Securities analyst Julien Dumoulin-Smith maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Buy and lowers the price target from $343 to $321.

FSLR

B of A Securities Maintains Buy on First Solar, Lowers Price Target to $321

Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) is preparing to launch an AI assistant, powered by OpenAI&#8216;s GPT-4o, aimed at helping drivers transition to electric vehicles. The initiative is part of Uber&#8217;s larger plan to cut down on emissions.
What Happened: The AI assistant was unveiled during Uber&#8217;s Go-Get Zero event in London and is scheduled to debut in the U.S. early next year, with plans for a global rollout. It will provide personalized advice based on the driver&#8217;s location and available incentives. By 2025, the chatbot will expand its capabilities to address questions beyond electric vehicles, Reuters reported on Tuesday.
Uber has pledged $800 million to aid its drivers in transitioning to EVs by 2040. Currently, about 180,000 drivers are making the switch each month in North America and Europe. CEO Dara Khosrowshahi highlighted that Uber drivers are adopting EVs at a rate five times faster than the average motorist in the U.S., Canada, and Europe.
See Also: <a href="https://www.benzinga.com/24/10/41209381/lucid-reports-q3-ev-production-and-delivery-totals-what-to-know?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lucid Reports Q3 EV Production And Delivery Totals: What To Know</a>
In addition, Uber is introducing a mentorship program for EV drivers and offering $50,000 to top merchants on its food delivery platform for sustainability efforts. Pop-up events will allow customers to experience EVs, such as the Lotus Eletre in London and the Rivian R1 in select U.S. cities.
Why It Matters: Uber&#8217;s move to integrate AI into its operations is part of a broader industry trend. In May, Grab Holdings , a competitor in Asia,<a href="https://www.benzinga.com/markets/asia/24/05/39089311/ubers-asia-peer-grab-taps-openai-to-enhance-app-navigation-and-customer-support"> announced a partnership</a> with OpenAI to enhance app navigation and customer support using AI. This highlights the growing importance of AI in improving service delivery and customer experience.
Earlier, in August 2023, Uber had already signaled its intentions to leverage AI with plans for an <a href="https://www.benzinga.com/news/23/08/33512474/uber-joins-ai-bandwagon-with-chatbot-plan-to-level-up-customer-service">AI-powered chatbot</a> to enhance customer service and automate tasks. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41217416/warren-buffett-vs-elon-musk-did-geico-cut-insurance-coverage-on-cybertrucks-for-not-meeting-underwri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett Vs. Elon Musk: Did Geico Cut Insurance Coverage On Cybertrucks For Not Meeting &#8216;Underwriting Guidelines&#8217;?</a></li>
</ul>
Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

General

UBER

Uber Launches OpenAI's ChatGPT-Based Driver Assistant To Support  Transition To EVs

TD Cowen analyst Vivien Azer downgrades Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) from Buy to Hold and maintains the price target from $68 to $68.

Downgrades

TD Cowen Downgrades Anheuser-Busch InBev to Hold, Maintains Price Target to $68

AEVA

Aeva's 4D LiDAR Chosen As 'Gold Standard' For European OEM's Automated Vehicle Validation Program

Stelco Holdings Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/STLC#TSX">STLC</a>) ("Stelco" or the "Company") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with its pending sale to Cleveland-Cliffs Inc. The expiration of the HSR Act waiting period clears an important regulatory hurdle and marks a significant step toward the closing of the sale of Stelco, which is expected to occur in the fourth quarter of 2024 following the satisfaction or waiver of other customary closing conditions and approvals.

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