Streetbeat News

Partnerships

GTN

Gray Television, Inc. (GTN) has reached an agreement in principle to renew all its NBC network affiliations, which were set to expire at the end of 2023. This renewal covers Gray's NBC affiliated stations in 56 markets. NBC is currently the top network in various key demographics and programming categories. Gray is the largest owner of top-rated local TV stations and digital assets in the US, reaching about 36% of US TV households.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 4:01 pm

KULR

KULR Technology Group Inc (AMEX:KULR) shares rose after announcing an initial purchase order from a major private space exploration company for its KULR ONE Design Solutions (K1-DS) platform for battery safety testing. The K1-DS platform includes various technologies for comprehensive cell level characterization of thermal runaway behavior. This order aligns with KULR's strategy to expand in the space exploration market and anticipates more design wins next year. Earlier, KULR secured a contract for space battery development, expected to grow into a multi-million-dollar partnership in 2024. KULR shares increased by 5.62% to $0.1972.

Portfolio Pulse from Lekha Gupta

December 27, 2023 | 3:06 pm

AMZN

PLUG

Plug Power Inc (NASDAQ:PLUG) stock is trading higher after completing its first electrolyzer installation at an Amazon.com Inc (NASDAQ:AMZN) fulfillment center. The one-megawatt system will produce low-carbon hydrogen to fuel over 225 hydrogen fuel cell-powered forklift trucks. Plug Power has deployed over 17,000 fuel cells at more than 80 Amazon fulfillment centers in North America. The news reflects Plug Power's capabilities in the hydrogen value chain and its ongoing partnership with Amazon.

Portfolio Pulse from Adam Eckert

December 27, 2023 | 3:04 pm

OPT

Opthea Limited (NASDAQ:OPT) announced it expects to receive the remaining $35 million from Carlyle and Abingworth under a Development Funding Agreement, along with an additional $50 million from a new co-investor, totaling $170 million in funding. The funds will support Phase 3 clinical trials and pre-commercialization activities for sozinibercept, a treatment for wet age-related macular degeneration. Opthea's stock rose 15.10% to $2.90 following the news.

Portfolio Pulse from Vandana Singh

December 27, 2023 | 3:03 pm

SHOP

SOL

Solana (SOL) ends 2023 on a high, reaching a new 52-week high and becoming a highly discussed cryptocurrency. Key highlights include airdrops, meme coins like Bonk (BONK) and Dogwifhat (WIF), and becoming the fourth-largest digital coin by market cap. Solana's partnerships with Visa (V), Mastercard (MA), and Shopify (SHOP) have strengthened its position. The Solana Saga mobile phone sold out, and the Helium Network migration to Solana was completed. Solana also launched a ChatGPT plugin and began tracking its carbon footprint. SOL's price surged over 800% YTD, outperforming Bitcoin (BTC) and Ethereum (ETH).

Portfolio Pulse from Chris Katje

December 27, 2023 | 2:44 pm

NVDA

SPY

SSNLF

Nvidia Corp (NASDAQ:NVDA) is trading higher after reports of making significant advance payments to SK Hynix and Micron Technology, Inc (NASDAQ:MU) for High Bandwidth Memory (HBM). The payments, totaling billions, aim to secure a stable supply of HBM3e for Nvidia's 2024 GPU products. This move is seen as a proactive strategy in a competitive market. Nvidia's investment is also beneficial to memory suppliers like SK Hynix and Samsung Electronics Co (OTC:SSNLF), especially after a challenging year. Samsung has completed product testing for HBM3 and HBM3e and signed a supply contract with Nvidia, although its technology might require additional processes. Nvidia's stock has outperformed SPDR S&P 500 (NYSE:SPY) with a year-to-date gain of over 244%.

Portfolio Pulse from Anusuya Lahiri

December 27, 2023 | 2:37 pm

MSFT

NVDA

U.S. lawmakers express national security concerns over Microsoft Corp's (NASDAQ:MSFT) increased collaboration with China in AI technology. Microsoft President Brad Smith's meeting with China's Minister of Commerce and the company's intention to play a role in China's AI sector have raised alarms. Senators Josh Hawley and Marsha Blackburn, along with Rep. Mike Gallagher, have voiced worries about potential Chinese exploitation of advanced tech. Nvidia Corp (NASDAQ:NVDA) is also mentioned for its compliance with U.S. export limitations in the Chinese AI chip market. MSFT shares saw a slight premarket decline.

Portfolio Pulse from Anusuya Lahiri

December 27, 2023 | 2:18 pm

NIO

NIO Inc (NYSE:NIO) shares dropped after a surge earlier in the week due to the launch of its new ET9 sedan and entry into the luxury EV segment. The ET9 is available for pre-order in China with deliveries expected in Q1 2025. Nio also introduced new power swap stations and a liquid-cooled charger. Additionally, Nio completed a $2.2 billion investment from CYVN Investments, giving CYVN a 20.1% stake in Nio. Analysts have a consensus price target of $28.13 for Nio stock, with 12 positive and 5 neutral ratings.

Portfolio Pulse from Adam Eckert

December 27, 2023 | 2:14 pm

CALF

FANG

QCOM

TSM

On CNBC's 'Halftime Report Final Trades,' analysts recommended several stocks and ETFs. Bryn Talkington recommended Pacer US Small Cap Cash Cows 100 ETF (CALF) for its high free cash flow yield. Jim Lebenthal chose QUALCOMM Inc. (QCOM) amidst the formation of the Coalition for Open Digital Ecosystems (CODE) by tech companies including Qualcomm. Stephen Weiss selected Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) as his final trade, noting the upcoming retirement of its Chairman, Mark Liu. Joseph Terranova favored Diamondback Energy, Inc. (FANG), citing strong momentum in the energy sector, while Raymond James analyst John Freeman maintained a Strong Buy on FANG with a reduced price target. Stock prices for QCOM, TSM, and FANG saw gains in Tuesday's session.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 2:08 pm

TRIB

Trinity Biotech plc (NASDAQ:TRIB) has started shipping its new rapid HIV screening test, TrinScreen HIV, to Kenya. The initial order consists of 2.5 million tests, with further shipments planned for early 2024. Kenya's HIV screening program, one of Africa's largest, performs approximately 10 million tests annually. Trinity Biotech expects to receive additional orders throughout 2024, as Kenya has secured funding from sponsors like Global Fund and USAID for all 10 million required tests. The new HIV testing algorithm, including TrinScreen HIV, will be implemented in January 2024. The company sees this as a significant opportunity to expand its presence in the HIV screening market across Africa, which is part of a global market estimated at 150 million tests annually.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:58 pm