Tiny Pharma Stock Surges 129%

Good morning. It’s December 17th, and today we’ll look at the $15-billion federal loan given to PG&E, Pfizer’s projections for 2025, and a tiny pharma stock that has shot up by more than 120% in premarket trade.

Technology

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Previous Close 📈

The U.S. stock markets closed with mixed results on Monday. The Dow Jones Industrial Average declined, while the S&P 500 rose by +0.38% and the Nasdaq Composite gained +1.24%.

Futures

U.S. stock futures are indicating a potential downturn today. Dow Futures have declined by 165.00 points (-0.37%) to 44,095.00, S&P Futures are down 17.75 points (-0.29%) to 6,136.25, and Nasdaq Futures have decreased by 18.75 points (-0.08%) to 22,389.25. There seems to be a cautious sentiment in the market ahead of the Federal Reserve's anticipated interest rate decision.

What to Watch

Amentum Holdings (AMTM), Cheetah Mobile (CMCM), and Heico (HEI) will report their earnings before the opening bell today.

U.S. Retail Sales for November will be released at 8:30 a.m. ET, offering a snapshot of consumer spending trends. Industrial Production and Capacity Utilization for November will be published at 9:15 a.m. ET.

At 10:00 a.m. ET, the Home Builder Confidence Index for December will provide insights into the health of the housing market.

In the evening, Worthington Enterprises (WOR) will announce its quarterly results after the market closes

Energy

PG&E Secures $15-Billion Federal Loan to Boost Climate Resilience

The U.S. government will offer a historic $15-billion low-interest loan for PG&E Corp to upgrade its electrical grid and enhance climate resilience, as per a Wall Street Journal report today.

The loan, provided by the Department of Energy’s Loan Programs Office, is set to fund projects aimed at improving PG&E’s hydroelectric systems and modernizing power lines. It will be disbursed in cash installments over several years.

PG&E, the parent company of Pacific Gas and Electric Company, serves 16 million residents across central and northern California. The funding comes as the utility sector grapples with intensifying weather challenges like wildfires and hurricanes, alongside surging energy demand from industrial operations, including data centers.

Earlier in December, PG&E announced plans to raise $2.4 billion through a stock offering to support its infrastructure investments. Across the U.S., utilities have increasingly turned to capital raises and rate adjustments to finance upgrades needed to meet growing energy needs and weather-proof their systems.

This federal support underscores ongoing efforts to strengthen the nation’s power grid against extreme climate impacts while ensuring reliable energy delivery for consumers.

Technology

EU Privacy Watchdogs Penalize Meta €251 Million for User Data Leak

Facebook owner Meta has been fined €251 million ($264 million) by European Union privacy regulators following a 2018 data breach that exposed millions of user accounts. Ireland’s Data Protection Commission (DPC), Meta’s primary EU privacy authority, announced the penalties on Monday after concluding its investigation.

The breach occurred when hackers exploited bugs in Facebook’s “View As” feature, which allowed them to steal digital access tokens and compromise user accounts. The attack impacted approximately 29 million accounts globally, including 3 million in Europe, despite Facebook initially estimating 50 million affected.

The Irish watchdog found multiple violations of the EU’s General Data Protection Regulation (GDPR) and issued both reprimands and financial penalties. Meta has stated it plans to appeal the decision, emphasizing that the issue was addressed promptly in 2018.

The “View As” vulnerability enabled attackers to take control of accounts by moving from one user’s friend network to another. The hefty fine highlights continued regulatory scrutiny of Meta’s data protection practices under the EU’s stringent privacy rules.

Pharmaceuticals

Pfizer Projects Steady 2025 Profit Amid Investor Pressure

Pfizer (PFE) shares are up nearly 3% in premarket trading today after news that the pharmaceutical giant’s projected 2025 profit is in line with Wall Street estimates. The company forecasts adjusted earnings between $2.80 and $3.00 per share, compared to analysts’ expectations of $2.88.

Pfizer also anticipates 2025 revenue in the range of $61 billion to $64 billion, slightly below the consensus estimate of $63.26 billion. The guidance comes as the company faces growing scrutiny over its turnaround strategy from activist hedge fund Starboard Value.

Following a steep decline in COVID-19-related product sales and several blockbuster drugs nearing patent expiration, Pfizer has been streamlining operations, cutting costs, and reducing debt by divesting non-core assets.

However, activist hedge fund Starboard has criticized the company’s large acquisitions and questioned its ability to generate profitable new treatments from these investments.

Pfizer’s stock, down nearly 12% this year, remains under pressure, trading well below its pandemic highs.

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Portage Biotech Inc. [PRTG] - Last Close: $3.25

Portage Biotech Inc. is trending up during premarket trade due to the announcement of its strategic partnership with Immunova.

The clinical-stage immuno-oncology company has signed a letter of intent with Immunova to negotiate the sale of its subsidiary, iOx Therapeutics, Ltd.

iOx focuses on developing liposomal iNKT agonists, with its lead candidate, PORT-2, showing promising preliminary clinical activity.

This move aligns with Portage's strategy to unlock asset value and accelerate clinical development.

Investors are responding positively, driving PRTG shares up +129% in premarket trading.

Maison Solutions Inc. [MSS] - Last Close: $1.02

Maison Solutions Inc. is experiencing a significant premarket surge, with shares rising over 44%.

This uptick follows the announcement of the company's second-quarter and six-month financial results for fiscal 2025.

The results show a 125.3% year-over-year increase in net revenues to $31.0 million for Q2, largely due to the integration of Lee Lee International Supermarkets, acquired in April 2024.

Gross profit also rose to $8.2 million, with an improved gross margin of 26.3%.

Despite a net loss of $256,000 for the quarter, the substantial revenue growth has likely positively influenced investor sentiment, driving the stock's premarket rise.

Mitek Systems, Inc. [MITK] - Last Close: $9.49

Mitek Systems (MITK) is up 14% in premarket trading today after releasing an upbeat earnings report.

The identity verification and mobile deposit solutions provider’s revenue and profit are better than Wall Street expectations.

Revenue for Q4 is $42.5 million, surpassing analysts’ estimates of $39 million, while adjusted EPS is at $0.26, beating the $0.22 consensus.

Investors are optimistic about the company’s improving margins and growth in digital identity services, driven by increased demand from financial institutions.

Mitek also provided a strong outlook for fiscal 2025, further boosting investor confidence.

Technology

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Everything Else

• The Biden administration granted $406 million to GlobalWafers as part of efforts to strengthen the US semiconductor supply chain.

• Frontier Coalition invested $80 million in innovative carbon capture solutions for industry and waste.

• Chinese leaders set a record fiscal deficit and aim for 5% GDP growth to boost the economy.

• Alibaba’s $1.3 billion Intime sale signals a shift away from Jack Ma’s “new retail” strategy.

• Beijing-based Zhipu raised $412 million to compete in China’s AI arms race.

• Air Canada forecasts $30 billion in revenue by 2028 as post-pandemic travel demand soars.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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