Latest news for Abound Energy (OTC:ZAIRF) Stock

Abound Energy Inc is a development-stage company and is in the process of developing zinc-air batteries. It is a technology-first company and a leader in Zinc-air battery technology, focusing on long-duration energy storage.

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Renewable energy sources like wind, solar and water may offer a cleaner, more sustainable way to meet the world’s energy needs than the fossil fuels nations have depended on for the past two centuries. 

Meet Zinc8 (OTCMKTS: ZAIRF; CSE: ZAIR) — Has It Made The Low-Cost, Long-Duration &#39;Battery of the Future&#39;?

Abound Energy Inc

Wolfe Research analyst Tim Anderson initiates coverage on Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) with a Peer Perform rating.

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AMGN

Wolfe Research Initiates Coverage On Amgen with Peer Perform Rating

Wolfe Research analyst Akash Tewari initiates coverage on Biomarin Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) with a Outperform rating and announces Price Target of $95.

Price Target

BMRN

Wolfe Research Initiates Coverage On Biomarin Pharmaceutical with Outperform Rating, Announces Price Target of $95

Wolfe Research analyst Alexandria Hammond initiates coverage on Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Peer Perform rating.

BIIB

Wolfe Research Initiates Coverage On Biogen with Peer Perform Rating

Wolfe Research analyst Alexandria Hammond initiates coverage on AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) with a Outperform rating and announces Price Target of $205.

ABBV

Wolfe Research Initiates Coverage On AbbVie with Outperform Rating, Announces Price Target of $205

Needham analyst Ami Fadia reiterates Blueprint Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) with a Buy and maintains $135 price target.

Reiteration

BPMC

Needham Reiterates Buy on Blueprint Medicines, Maintains $135 Price Target

Needham analyst Gil Blum reiterates Celcuity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELC#NASDAQ">CELC</a>) with a Buy and maintains $23 price target.

CELC

Needham Reiterates Buy on Celcuity, Maintains $23 Price Target

Needham analyst Ryan Koontz reiterates Gilat Satellite Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILT#NASDAQ">GILT</a>) with a Buy and maintains $8.5 price target.

GILT

Needham Reiterates Buy on Gilat Satellite Networks, Maintains $8.5 Price Target

<ul>
<li>Aegon today announces a planned new EUR 150 million share buyback program, consistent with its policy to return excess Cash Capital at Holding to shareholders in the absence of value-creating opportunities. Barring unforeseen circumstances, the share buyback program will start at the beginning of January 2025 and is expected to be completed on or before June 30, 2025. The start of this share buyback program will be announced separately in due course.&nbsp;</li>
<li>The new planned EUR 150 million share buyback program will include an amount of about EUR 40 million to meet Aegon's obligations resulting from the share-based compensation plans for senior management. The repurchased shares resulting from these compensation plans will be held as treasury shares until they are allocated to the plan participants. Aegon intends to cancel the remainder of the repurchased shares resulting from the new planned share buyback program, subject to any relevant approval.</li>
</ul>

Aegon Announces €150M Share Buyback Starting January 2025, With €40M For Compensation And The Rest For Cancellation, Pending Approval

Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) has filed a lawsuit against the Health Resources and Services Administration (HRSA). The pharmaceutical giant claims that HRSA obstructed its attempt to alter drug discount offerings to hospitals.
What Happened: As per Eli Lilly&#8217;s official statement on Thursday, the conflict centers on the federal 340B program, which requires drug manufacturers to offer discounts to healthcare providers serving low-income communities. Participation in this program is crucial for drug companies to secure funding from government health insurance programs like Medicare and Medicaid.
Eli Lilly proposed a plan to ensure 340B entities pay no more than the ceiling price by providing them with cash directly on a weekly basis. However, HRSA, a division of the U.S. Health and Human Services Department, rejected this approach, stating it was inconsistent with the 340B law.
&#8220;HRSA does not have the authority to arbitrarily reject this model, which serves the original goals of the 340B program and improves transparency, efficiency, and program integrity,&#8221; the statement read.
See Also: <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a>
Why It Matters: The lawsuit comes amid ongoing scrutiny of drug pricing practices. Recently, <a href="https://www.benzinga.com/general/biotech/24/11/41940958/humanitarian-organization-criticizes-eli-lilly-novo-nordisk-and-sanofi-of-having-double-standards-for-high-insulin-price">Doctors Without Borders</a> criticized Eli Lilly and other insulin manufacturers for maintaining high prices, urging them to provide affordable insulin to low- and middle-income countries.
This legal action also <a href="https://www.benzinga.com/general/biotech/24/11/41941391/johnson-johnson-challenges-government-drug-pricing-dispute-over-two-drugs">follows a similar lawsuit</a> by Johnson &amp; Johnson, which alleged the Health and Human Services Department of blocking its drug rebate plans. The 340B program has been subject to extensive legal challenges, with a U.S. appeals court previously allowing drugmakers to limit the use of outside pharmacies for dispensing under the program.
Meanwhile, Eli Lilly has been in the spotlight for its <a href="https://www.benzinga.com/24/11/41985752/eli-lillys-detailed-phase-3-trial-data-show-99-of-patients-on-popular-mounjarozepbound-remained-diabetes-free-for-even-at-three-years">Phase 3 trial data</a> of tirzepatide, marketed as Mounjaro and Zepbound. The study showed promising results in reducing the risk of type 2 diabetes in patients with pre-diabetes and obesity, highlighting the company&#8217;s focus on innovative treatments.
Price Action: Eli Lilly was down by 0.28% during pre-market hours on Friday at the time of writing, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41921267/new-jersey-is-making-history-by-offering-medical-cannabis-as-employee-benefit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">New Jersey Is Making History By Offering Medical Cannabis</a></li>
</ul>
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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.

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Mounjaro-Maker Eli Lilly Files Lawsuit Against US Agency Over Drug Rebate Program

Needham analyst James Ricchiuti reiterates 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) with a Hold.

Needham Reiterates Hold on 3D Sys

Aegon trading update for third quarter 2024&nbsp;
• EUR 336 million operating capital generation, before holding funding and operating expenses. Full-year 2024 guidance raised to around EUR 1.2 billion, from around EUR 1.1 billion previously&nbsp;
• Capital ratios of the main units remain above their respective operating levels&nbsp;
• Planned new EUR 150 million share buyback program announced; completion expected in the first half of 2025. The program includes neutralization of shares issued for share-based compensation plans&nbsp;
• Cash Capital at Holding of EUR 1.5 billion as of September 30, 2024. Expect to reach mid-point of the target range (EUR 1.0 billion) by the end of 2026&nbsp;
• Completed program to purchase institutionally owned universal life policies. Terminated policies negatively impacted US RBC ratio by 16%-points. Expect 8%-points benefit in 4Q 2024 after equity funding repayment. Operating capital generation benefits from the program, as previously guided&nbsp;
• Strong commercial momentum in Asset Management and UK Workplace platform. US Strategic Assets experience c

Aegon Q3 Business Update: Operating Capital Generation €336M Before Holding Expenses; Raised FY24 Operating Capital Target To ~€1.2B, Up From The Previous Estimate Of €1.1B

HC Wainwright &amp; Co. analyst Vernon Bernardino reiterates Geovax Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) with a Buy and maintains $8 price target.

GOVX

HC Wainwright & Co. Reiterates Buy on Geovax Labs, Maintains $8 Price Target

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates MiNK Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INKT#NASDAQ">INKT</a>) with a Buy and maintains $9 price target.

INKT

HC Wainwright & Co. Reiterates Buy on MiNK Therapeutics, Maintains $9 Price Target

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Shattuck Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STTK#NASDAQ">STTK</a>) with a Neutral.

STTK

HC Wainwright & Co. Reiterates Neutral on Shattuck Labs

Macro Economic Events

Econ #s

Economics

U.K. Labour Productivity For Q2 0.2% Vs. 0.1% Prior

HC Wainwright &amp; Co. analyst Yi Chen reiterates Orchestra BioMed Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBIO#NASDAQ">OBIO</a>) with a Buy and maintains $14 price target.

Orchestra BioMed Holdings, Inc. - Ordinary Shares

OBIO

HC Wainwright & Co. Reiterates Buy on Orchestra BioMed Hldgs, Maintains $14 Price Target

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-cola Europacific Partners Says The Financial Conduct Authority Approved Its Transfer Of Listing Category From Equity Shares Category To Equity Shares (Commercial Companies) Category Of Official List

Michael Burry, the hedge fund manager renowned for predicting the 2008 financial crisis, has significantly increased his exposure to Chinese technology companies while simultaneously implementing protective measures against potential downside risks, <a href="https://www.benzinga.com/markets/asia/24/11/42000692/david-teppers-appaloosa-trims-alibaba-stake-by-476-in-q3-2024-doubles-down-on-pdd-holdings-and-jd.com">according to regulatory filings</a>.
What Happened: Burry&#8217;s Scion Asset Management made several notable adjustments to its portfolio during the third quarter, with Chinese companies now representing its largest positions. The firm increased its stake in Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) by 29%, making it the fund&#8217;s largest holding valued at over $21 million as of September&#8217;s end.
In a similar move, Scion doubled its position in JD.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), elevating it to the fund&#8217;s second-largest holding at approximately $20 million. The firm also expanded its stake in Chinese search giant Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) by 67%, bringing the position to $13.2 million.
However, in what appears to be a cautionary strategy, Burry has simultaneously established put options against these same holdings. Put options typically increase in value when the underlying securities decline, suggesting a hedging strategy designed to protect against potential market volatility.
See Also: <a href="https://www.benzinga.com/news/global/24/11/41999238/ross-gerber-blasts-teslas-support-for-ending-ev-tax-credit-as-insanity-amid-reported-policy-shift-under-trump-administration">Long-Time Tesla Bull Rages As Elon Musk Reportedly Backs Trump&#8217;s Plan To Ax $7.5K EV Credit: &#8216;Insanity&#8217;</a>
The timing of these moves coincides with Beijing&#8217;s recent economic stimulus announcements aimed at reinvigorating growth in the world&#8217;s second-largest economy. While Chinese equities initially rallied in September following these signals, gains have moderated as investors await more concrete fiscal measures.
Beyond his Chinese technology focus, Burry has also increased positions in several U.S. companies, including Shift4 Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>), American Coastal Insurance Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIC#NASDAQ">ACIC</a>), and Molina Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>).
Why It Matters: Burry&#8217;s <a href="https://www.benzinga.com/markets/equities/24/10/41248334/big-short-investor-michael-burrys-china-bet-pays-off-as-top-picks-surge-nearly-60-in-2-months">top three Chinese holdings</a> have posted average gains of nearly 60% over a two-month period, according to market data.
Burry&#8217;s moves are being closely watched by market participants, particularly given his track record. He gained widespread recognition for his prescient bet against mortgage-backed securities before the 2008 global financial crisis, a story later chronicled in Michael Lewis&#8216;s bestseller &#8220;The Big Short&#8221; and its subsequent Oscar-winning film adaptation.
It&#8217;s worth noting that these positions reflect holdings as of Sep. 30, as required by SEC regulations for funds managing over $100 million in assets. Given the 45-day reporting delay and Burry&#8217;s active trading style, current positions may have already changed.
The development comes as other <a href="https://www.benzinga.com/markets/asia/24/11/42000692/david-teppers-appaloosa-trims-alibaba-stake-by-476-in-q3-2024-doubles-down-on-pdd-holdings-and-jd.com">prominent investors adjust their Chinese holdings</a>. Billionaire investor David Tepper&#8217;s Appaloosa Management recently reduced its Alibaba stake by 5%, though the position remains the fund&#8217;s largest holding at 15.75% of its $6.7 billion portfolio.
Read Next: 
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<li><a href="https://www.benzinga.com/content/41999311/jim-cramer-says-these-10-frothy-stocks-are-up-over-200-ytd-including-rocket-lab-palantir-and-carvana">Jim Cramer Says These 10 &#8216;Frothy&#8217; Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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FOUR

'Big Short' Investor Michael Burry Doubles Down On Chinese Tech Stocks While Adding Protective Hedges

NATL

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Earnings

RLX Technology Q3 Adj EPADS $0.03, Sales $107.77M Beat $105.08M Estimate

Zinc8 Energy Solutions, Inc. (TSE:ABND) has released an update. ABOUND Energy Inc. has strengthened its board of directors by adding Mike Simpson, ...

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ABOUND Energy's Final Offering Enhances Green Tech

Abound Energy

Zinc8 Energy Solutions

Renewable energy sources like wind, solar and water may offer a cleaner, more sustainable way to meet the world&rsquo;s energy needs than the fossil fuels nations have depended on for the past two centuries.&nbsp;

However, one barrier that makes widespread adoption challenging is how intermittent they can be. Winds come and go. The sun can get blocked on overcast days. Water currents fluctuate.

To use an extreme example, homeowners living north of the Arctic Circle get <a href="https://www.wonderopolis.org/wonder/where-does-the-sun-never-set/#:~:text=Like%20the%20equator%2C%20the%20Arctic,year%20at%20the%20North%20Pole.">six straight months of sunshine</a> and six straight months of darkness. Without a way to store the power generated from solar panels for later, those panels would only be useful for half the year.

One of the best ways to deal with that intermittency is the battery, and one of the best designs on the market today is the lithium-ion battery. However, the design is expensive and comes with limitations that make it difficult to scale to the capacity needed to fully eliminate dependence on fossil fuel.

That&rsquo;s why Zinc8 Energy Solutions Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZAIRF#OTC">ZAIRF</a>) (CSE:<a class="ticker" href="https://www.benzinga.com/stock/ZAIR#CSE">ZAIR</a>) says it is deploying a low-cost, long-duration alternative that can meet the energy storage needs of a 100% renewable future.

<h2>Lithium-Ion Batteries Are The Best Storage System Available Today, But They&rsquo;re Far From Perfect</h2>

The technology for manufacturing batteries has come a long way in the past few decades, too. Today, the most efficient design available is the lithium-ion battery, which you&rsquo;ll find in everything from Tesla Inc.&rsquo;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) electric cars to EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) ABSL&trade; space batteries.

In a lithium-ion battery, lithium ions are stored on either end of the battery in an electrolyte solution. When power is needed, the lithium ions move from the anode (positive side) to the cathode (negative side). When charging the battery, they move back from the cathode to the anode. That movement creates an electrical current.&nbsp;

It&rsquo;s a huge <a href="https://www.explainthatstuff.com/how-lithium-ion-batteries-work.html">improvement over older batteries</a>, to be sure, as it&rsquo;s lighter than the lead-acid batteries found in combustion engine cars and charges faster and more reliably than nickel-cadmium designs. Even so, it suffers from a few limitations:

<ul>
	<li>Scaling a lithium-ion storage system means stacking more batteries because you can&rsquo;t change the capacity of a battery. So it&rsquo;s hard to scale for larger storage needs.</li>
	<li>Lithium-ion batteries are prone to catching fire if overcharged or if short-circuited. While built-in circuit breakers can prevent the batteries from overheating, there is still some risk of fire.</li>
	<li><a href="https://airqualitynews.com/2021/01/12/why-do-lithium-ion-batteries-degrade-over-time/">Capacity loss</a> caused by degrading materials means that even the best lithium-ion battery has an expiration date.</li>
</ul>

They&rsquo;re also expensive to manufacture since they rely on costly and rare minerals like lithium and cobalt. While the cost has dropped from over <a href="https://about.bnef.com/blog/battery-pack-prices-fall-to-an-average-of-132-kwh-but-rising-commodity-prices-start-to-bite/">$1,200 per kilowatt-hour</a> (kWh) in 2010 to just $132 per kWh in 2021, there&rsquo;s seemingly still a long way to go before it&rsquo;s truly affordable &mdash; especially for large capacity needs like storage for the nation&rsquo;s energy grid.&nbsp;

<h2>Zinc8 Reports Building The Lowest-Cost, Longest-Duration Storage Technology On The Market</h2>

Seemingly anticipating these challenges over a decade ago, Zinc8 Energy Solutions was founded in 2012 by a team of engineers determined to develop a battery that was capable of long-duration storage but built using materials that were far cheaper and more abundant than the ones that go into existing batteries.

The result &mdash; Zinc8&rsquo;s patented <a href="https://www.zinc8energy.com/technology">Zinc-Air Regenerative Fuel Cell System</a>, which the company says costs as low as $45 per kWh for incremental energy capacity cost when retrofitting a system with extra energy capacity and eliminates many of the safety and scalability concerns with lithium-ion batteries. The system&#39;s capital largely depends on the duration of the system. At 8 hours, it is $250/kWh; at 100 hours, it is trending towards $60/kWh.

The Zinc-Air system is made up of three parts &mdash; the zinc regenerator, storage tank and power stack. When power from the source enters the zinc regenerator, zinc oxide moves from the storage tank into the regenerator where that power separates the zinc from the oxygen. The separated zinc particles flow back into the storage tank while the oxygen is released into the air.&nbsp;

When power is needed, those zinc particles are moved into the power stack where they are recombined with oxygen in a process that generates electricity. Afterward, the zinc oxide is returned to the storage tank until it&rsquo;s needed in the zinc regenerator again.

Because these components of the battery are decoupled, scaling the system&rsquo;s energy capacity is a matter of swapping out the storage tank in the middle for a larger capacity tank. If it&rsquo;s more energy output that&rsquo;s needed, you just add more power stacks to the system. For a faster-charging system, add more zinc regenerators.&nbsp;

With a lithium-ion battery, you buy the entire battery stack &mdash; even if all you needed was a bit extra charging speed or a little more storage capacity. With Zinc8&rsquo;s decoupled system, you&rsquo;re only adding the pieces you need, which can save on costs and space required.

The nontoxic, nonflammable and low-cost design has won multiple awards, including the 2020 New York Power Authority&rsquo;s Innovation Challenge, which came with <a href="https://zinc8energy.com/investors/press-releases/2020/45-zinc8-energy-solutions-announces-cooperation-agreement-with-the-new-york-power-authority-nypa-to-deploy-zinc-air-battery-system-in-new-york-state">$2.55 million</a> to build a 100kW storage system at a demonstration site in the state.&nbsp;

The company has also reported raising over <a href="https://www.zinc8energy.com/investors">$56 million</a> in investor funding and even won the support of Senate Majority leader Chuck Schumer, who <a href="https://www.schumer.senate.gov/newsroom/press-releases/schumer-in-personal-call-with-ceo-urges-zinc8-to-make-ulsters-ipark87-former-techcity-campus-future-home-of-new-hub-bringing-up-to-500-clean-energy-jobs-to-ulster-senator-says-historic-federal-battery-development-incentives-he-passed-in-infrastructure-law-will-supercharge-companies-to-invest-in-ny-and-power-the-fight-against-climate-change-schumer-is-working-closely-with-national-resources-the-owner-of-ipark87-to-bring-high-quality-jobs-and-investments-to-the-hudson-valley">asked</a> Zinc8 to consider making Ulster, New York, its new manufacturing hub.&nbsp;

&ldquo;I made it clear to Zinc8 CEO, Ron MacDonald, that I stand ready to help their potential expansion in the Hudson Valley in any way, including fighting to secure the historic federal battery research and development incentives I passed in the Bipartisan Infrastructure &amp; Jobs Law,&rdquo; Senator Schumer said on a phone call with MacDonald.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Featured image by dcbel on <a href="https://unsplash.com/photos/nhEIkTjKJ3k">Unsplash</a>

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