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PSHZF

TSLA

Elon Musk has expressed support for Bill Ackman's stance against anti-Semitism at Ivy League universities, specifically Harvard. Ackman has called for the resignation of Harvard's president, Claudine Gay, due to her handling of anti-Semitic incidents. Musk's support is reciprocated, as Ackman previously defended Musk against accusations of anti-Semitism. Ackman's Pershing Square Foundation remains invested in Musk's company, X (formerly Twitter). Musk is also planning to launch his own university in Texas, with a $100 million pledge to his charity focusing on STEM education.

Portfolio Pulse from Rounak Jain

December 16, 2023 | 2:17 am

AL

Air Lease Corporation (ALC) has delivered the first of seven new Airbus A321-200neo aircraft to Transavia. The aircraft are on a long-term lease, and this delivery marks the beginning of Transavia's single-aisle fleet development with the A321-200neo, which is expected to enhance their service and efficiency.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:35 pm

KKR

KKR has acquired a $7.2 billion portfolio of super-prime recreational vehicle (RV) loans from BMO Bank National Association. BMO sold the loans and concurrently purchased about $6.4 billion of senior notes collateralized by the sold loans. BMO will continue to service and manage the RV loans. The transaction is part of KKR's Asset-Based Finance strategy, which has grown to $47 billion in assets under management. Kennedy Lewis Investment Management LLC also participated in the transaction.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:16 pm

V

Visa (NYSE:V) has announced a definitive agreement to acquire a majority interest in Prosa, a leading payments processor in Mexico. Prosa will operate independently, maintaining its technology infrastructure, while Visa aims to enhance Prosa's offerings with new digital solutions. The acquisition is part of Visa's 'network of networks' strategy to leverage global technologies and is expected to close in the second half of 2024, subject to regulatory approvals. This move is anticipated to make payment transactions in Mexico more efficient and secure, and to foster innovation and competition in the local market.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:09 pm

DOCU

DocuSign, Inc. (NASDAQ:DOCU) stock is trading higher after a Wall Street Journal report indicated the company is considering a sale. The discussions are in preliminary stages with no certainty of a deal. DocuSign's market cap is nearly $44.5 billion, up from $6 billion at its IPO in 2018. The stock has risen over 25% in the past five days and 44% over the past month.

Portfolio Pulse from Erica Kollmann

December 15, 2023 | 8:43 pm

BVN

Shares of Buenaventura (BVN) are trading higher following the news that Antofagasta plc has acquired a beneficial ownership of roughly 19% of BVN's outstanding shares.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 8:00 pm

RIVN

T

Rivian Automotive, Inc. (NASDAQ:RIVN) shares have seen an increase, trading higher by over 18% in the past five days and over 30% in the past month. The surge is attributed to a new deal with AT&T (NYSE:T) for the purchase of Rivian's electric vehicles in early 2024, aimed at improving safety, reducing costs, and cutting AT&T's carbon footprint. AT&T will also be the exclusive connectivity provider for Rivian's vehicles. Additionally, the broader stock market, including clean energy stocks, received a boost from the Fed's decision to leave rates unchanged and the outcomes of the COP28 climate summit.

Portfolio Pulse from Erica Kollmann

December 15, 2023 | 7:55 pm

NVO

RHHBY

Fractyl Health, a company developing therapies for type 2 diabetes and obesity, has filed for a $100M IPO. Its lead product, Revita DMR System, is approved in Europe and is undergoing a pivotal study with results expected in 4Q24. Fractyl is also working on Rejuva, a gene therapy platform, with plans to nominate its first candidate in 1Q24. The company will list on Nasdaq under the symbol GUTS. This follows Roche's acquisition of Carmot Therapeutics and promising data from Fractyl's Rejuva compared to Novo Nordisk's semaglutide.

Portfolio Pulse from Vandana Singh

December 15, 2023 | 7:39 pm

BSX

ENOV

Needham analyst Mike Matson has reiterated a Buy rating on Enovis Corporation (NYSE:ENOV) and raised the price target to $70 from $62, selecting it as his top pick for 2024 and adding it to the Needham Conviction List. Matson cites multiple growth drivers including the EMPOWR Revision launch, ARVIS 2.0 launch, and the Lima acquisition. He notes ENOV's attractive valuation at 11.1x the 2024 EBITDA estimate and expects continued EBITDA margin improvement. Matson anticipates the EMPOWR Revision system will gain momentum in 2024 and projects further accretive acquisitions. FY23 EPS is expected to be $2.32 with revenues of $1.698 billion. ENOV shares traded slightly lower at $53.45.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 7:38 pm

CI

ELV

HUM

Cigna Group (NYSE:CI) is in discussions to sell its Medicare Advantage business, with Health Care Service Corporation and Elevance Health Inc (NYSE:ELV) as potential buyers. The sale is expected to fetch bids over $3 billion. Cigna, which recently ended acquisition talks with Humana Inc (NYSE:HUM), has a smaller presence in the Medicare Advantage market with fewer than 600,000 enrollees. The Medicare Advantage sector is predicted to face financial losses in the current and next fiscal year. Cigna has also increased its share repurchase authorization by $10 billion, totaling $11.3 billion. Shares of ELV and CI were down on the last check Friday.

Portfolio Pulse from Vandana Singh

December 15, 2023 | 7:35 pm