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CGC

Canopy Growth Corporation (NASDAQ:CGC) announced a share consolidation of 1 new share for every 10 old shares to comply with NASDAQ's listing requirements. This follows a non-compliance notice received for a sub-$1 share price. The consolidation is pending TSX approval and is expected to be effective on Dec. 15, with trading on TSX and NASDAQ starting Dec. 20. The company's stock dropped 10.2321% to $0.615 in pre-market trading.

Portfolio Pulse from Jelena Martinovic

December 13, 2023 | 2:39 pm

CGC

Canopy Growth Corp (NASDAQ:CGC) shares fell after announcing a 1 for 10 share consolidation to regain compliance with Nasdaq listing requirements. The consolidation, approved by shareholders, will be effective on Dec. 15, with post-consolidation shares trading from Dec. 20. CFO Judy Hong believes this will improve marketability and compliance with Nasdaq's bid requirement.

Portfolio Pulse from Adam Eckert

December 13, 2023 | 2:24 pm

GM

General Motors has announced organizational changes to its product development team, including the creation of a new role to oversee global regions. The changes aim to streamline the organization, expedite the implementation of new vehicle and technology programs, and enhance go-to-market strategies. Ken Morris and Josh Tavel have been appointed to new leadership roles under GM President Mark Reuss. Rory Harvey will take on leadership for all global regions, while Marissa West is named senior vice president and president of GM North America. Doug Parks, the Global Product Development leader, is set to retire after a nearly 40-year tenure.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:17 pm

HDB

HDFC Bank Inc. (NYSE:HDB) shares fell by 1.04% to $63.98 in the current market session. Despite a 9.33% increase over the past month, the stock has declined by 6.31% over the past year. The company's P/E ratio of 20.25 is higher than the Banks industry average of 13.26, suggesting that HDFC Bank may be overvalued or that investors expect better future performance. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for investment decisions.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 2:15 pm

AUVI

AYI

Applied UV, Inc. (AUVI) shares are rising after the company announced a partnership with Silver Cross Hospital to implement Far-UVC Puro Protect 222nm fixtures in the hospital's Sterile Processing Department. The technology, co-developed with Acuity Brands, Inc. (AYI), is designed to reduce microbial contamination and is safe for human exposure. Applied UV also conducted a 1-for-25 reverse stock split to comply with Nasdaq's minimum bid price requirement. AUVI shares are up 6.80% to $2.20 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 2:02 pm

BLBX

Blackboxstocks has entered into a definitive agreement to acquire Evtec Aluminium Limited. Upon completion, Blackbox and Evtec will own 26.7% and 73.3% of approximately 12 million shares, respectively. Blackbox stockholders will retain a 26.7% stake in the merged entity and receive a Contingent Value Right for Blackbox's current fintech operations. Blackbox has already acquired a 13% stake in Evtec Automotive, which has $80 million in revenue, and aims to acquire the rest of the company concurrently. The transaction is expected to close in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:35 pm

TTWO

Take-Two Interactive Software Inc (NASDAQ:TTWO) stock is trading higher after the announcement that it will be added to the Nasdaq-100 Index. This follows the Nasdaq's decision to remove Seagen due to its acquisition by Pfizer, which received all required regulatory approvals. Additionally, Wolfe Research analyst Peter Supino initiated coverage on Take-Two with an Outperform rating and a price target of $186.

Portfolio Pulse from Adam Eckert

December 13, 2023 | 1:29 pm

TTWO

Take-Two Interactive (TTWO) shares are trading higher following the announcement that the company will be added to the Nasdaq-100 Index.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:28 pm

SPRC

SciSparc Ltd. (NASDAQ:SPRC) announced that its joint venture MitoCareX Bio met its second milestone in drug discovery for cancer treatment. This achievement triggers an additional $600,000 investment by SciSparc into MitoCareX Bio, after which SciSparc will hold 50.1% of the share capital.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:20 pm

AAPL

FXCOF

Foxconn Technology Co., Ltd. (OTC:FXCOF) has received approval to invest an additional $1 billion in its India-based manufacturing plant for Apple Inc. (NASDAQ:AAPL) devices. This raises Foxconn's total investment in the Bengaluru site to approximately $2.7 billion. The move is part of a strategic shift away from China, reflecting economic challenges and U.S.-China tensions. The investment will expand production capacity, potentially including iPhones, and may also support manufacturing of electric vehicle parts for other clients. AAPL shares rose 0.47% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 1:16 pm