Streetbeat News

Partnerships

MU

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

CDXS

Codexis, Inc. (NASDAQ:CDXS) has entered into a purchase agreement with Nestlé Health Science for CDX-7108, a therapy for exocrine pancreatic insufficiency (EPI). Codexis will receive up to $45M in milestone payments, including a $5M upfront payment and single-digit net-sales-based royalties. An additional $5M is possible if Nestlé exercises an option for two more early-stage enzymes. Nestlé will handle further development and commercialization, while Codexis focuses on its ECO Synthesis platform and Pharmaceutical Manufacturing business growth.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:33 pm

BTCT

BTC Digital Ltd. (NASDAQ:BTCT) has entered into a service agreement to manage and provide technical services for 1,480 Bitcoin mining machines for a significant client. The machines include AntS19Jpro+ and M50 models, and the services will be deployed in the United States. This agreement is expected to enhance BTCT's growth and presence in the cryptocurrency mining industry, with potential further collaboration with the client in this sector.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:32 pm

ADSE

ADS-TEC Energy (NASDAQ:ADSE), specializing in ultra-fast charging technology, has signed a definitive agreement for a private investment by Svelland Capital. The investment is expected to close on December 28, 2023, and is anticipated to strengthen ADS-TEC's financial position and support strategic initiatives. Svelland Capital is recognized for its expertise in the energy sector and has won awards for its investment strategies. ADS-TEC's CEO expects the fourth quarter of 2023 to be the strongest in company history, with continued positive performance in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:31 pm

VTGN

Vistagen Therapeutics (NASDAQ: VTGN) is set to receive a patent from the European Patent Office for AV-101, a treatment for neuropathic pain. Preclinical studies show AV-101 has effects similar to gabapentin but with fewer side effects. Phase 1 clinical trials indicate AV-101 is well-tolerated with no significant adverse events compared to placebo. The patent will extend until at least 2034, enhancing Vistagen's global patent portfolio. The company is seeking strategic collaborations to advance AV-101's clinical development and commercialization. The FDA has granted Fast Track designation for AV-101 as a non-opioid treatment for neuropathic pain.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:30 pm

BAC

JPM

MS

V

Analysts have provided updates on financial stocks Visa Inc. (V), JPMorgan Chase & Co. (JPM), Bank of America Corporation (BAC), and Morgan Stanley (MS). Coverage includes new ratings, price target changes, and recent news such as Visa's collaboration with International Money Express, JPMorgan's acquisition of a stake in Indra, and Bank of America's preferred stock dividends. Analysts' accuracy rates and expected stock movements are highlighted.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 1:13 pm