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Partnerships

DIS

DKNG

PDYPY

PENN

DraftKings Inc (NASDAQ:DKNG) maintains a Buy rating and a $50 price target from Needham analyst Bernie McTernan, despite the launch of ESPN Bet by PENN Entertainment (NASDAQ:PENN), which licenses the ESPN brand from The Walt Disney Company (NYSE:DIS). McTernan believes the promotions by ESPN Bet are in line with the industry and unlikely to significantly alter the competitive landscape. DraftKings' market share is not expected to be heavily impacted, and the company is seen as a leader in the North America online gambling market. DraftKings' stock has recently hit a new 52-week high and is up over 250% year-to-date.

Portfolio Pulse from Chris Katje

November 20, 2023 | 10:10 pm

PDLB

Ponce Financial Group, Inc. (PDLB), the holding company for Ponce Bank, has been accepted into the Department of the Treasury's Minority Bank Deposit Program. This inclusion will provide Ponce Bank with opportunities for exposure, technical training, networking, and potential participation as a depositary or financial agent for government entities. The CEO, Carlos P. Naudon, expressed enthusiasm for the growth and development prospects this program offers.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:29 pm

PSFE

Paysafe Ltd (PSFE) has extended its collaboration with Visa (V) in Europe to utilize Visa's Network Tokens for enhanced payment security. These tokens replace primary card numbers, reducing fraud risk and ensuring smooth recurring payments. The service will be available through Paysafe's Single Payments API, improving security for various types of transactions. Visa's SVP Mehret Habteab highlighted that Network Tokens can increase authorization rates by 5% and enhance the digital payment experience.

Portfolio Pulse from Khyathi Dalal

November 20, 2023 | 9:21 pm

CMPO

MSFT

CompoSecure, Inc. (NASDAQ:CMPO) has been designated as a Microsoft-compatible FIDO2 security key vendor for passwordless authentication. CompoSecure's Arculus Authenticate hardware passkeys are now certified as compatible with the Microsoft ecosystem, providing a secure and user-friendly solution to the overreliance on passwords. With the rise in exposed credentials, Arculus offers a more secure option for access and authentication. The product also integrates NFC technology for easy authentication and has been approved by Mastercard and Visa for payment cards with authentication capabilities, as well as certified by the FIDO Alliance.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:14 pm

DRS

Leonardo DRS, Inc. (NASDAQ:DRS) successfully completed sea trials of the Ulsan-Class Future Frigate for the Republic of Korea Navy, featuring a hybrid electric drive propulsion system. The system offers quiet operation and superior fuel economy, aiding anti-submarine warfare missions. The trial demonstrated the vessel's performance and readiness for immediate deployment. DRS will continue producing additional shipsets for the ROK Navy, reinforcing its position as a leading provider of hybrid electric drive systems for naval platforms.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 9:03 pm

CRM

MSFT

Salesforce CEO Marc Benioff has publicly offered to match the full cash and equity compensation for any OpenAI researcher who has resigned, inviting them to join Salesforce's Einstein Trusted AI research team. The team, led by Silvio Savarese, is part of Salesforce's successful enterprise AI platform, which has recently completed 1 trillion predictive and generative transactions.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:45 pm

MSFT

Sam Altman, former president of OpenAI, is considering a return to the company if certain board members resign. This follows tensions after his move to Microsoft Corp. (NASDAQ:MSFT) was announced. OpenAI staff have signed an open letter calling for the board's resignation and Altman's reinstatement. Despite the appointment of Emmett Shear as CEO, the situation is uncertain, with employees boycotting a meeting with Shear. Meanwhile, Microsoft's stock hit a record high, with a 2.3% increase on Monday and a 58% year-to-date performance, potentially its best year since 1999.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 8:40 pm

AMZN

BYDDY

HYMTF

TSLA

WKSP

BYD Company Limited (OTC:BYDDY) is poised to potentially overtake Tesla Inc (NASDAQ:TSLA) as the world's largest EV maker by the end of 2023. Worksport Ltd. (NASDAQ:WKSP) has announced that its COR portable battery system has entered the Test Phase, moving closer to market release. Hyundai Motor Company (OTC:HYMTF) will use a customized version of Worksport's SOLIS and COR for its Santa Cruz pickup. Hyundai has also partnered with Amazon.com Inc (NASDAQ:AMZN) to sell cars on Amazon and will use Amazon Web Services as its cloud provider, with plans to integrate Amazon Alexa into its vehicles by 2025.

Portfolio Pulse from Upwallstreet

November 20, 2023 | 8:20 pm

MSFT

Nat Friedman, former CEO of Microsoft's GitHub, declined the offer to become Interim CEO of OpenAI. The offer came after OpenAI's board fired co-founder Sam Altman, leading to several senior resignations. OpenAI co-founder Ilya Sutskever confirmed Altman's non-reinstatement and announced Emmett Shear, Twitch co-founder, as the interim leader.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:19 pm

DIS

PENN

Penn Entertainment (NASDAQ:PENN) received an upgrade from Bank of America analyst Shaun C. Kelley from Neutral to Buy, with a price target increase from $27 to $30, following the successful launch of ESPN Bet. The app's strong initial download and app activity, promotional discipline, and stable Q3 earnings for PENN's core gaming business contributed to the upgrade. ESPN Bet, launched through a licensing deal with The Walt Disney Company (NYSE:DIS), saw 865,000 downloads and topped the sports and overall free apps charts. Kelley suggests ESPN Bet could achieve 6-7% market share in online sports betting and 2% in iGaming. PENN shares rose 7.5% to $26.42 on the news.

Portfolio Pulse from Chris Katje

November 20, 2023 | 8:17 pm