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AAPL

AMZN

BA

BRK.A

DIS

GM

MSFT

NKE

TSLA

Cryptocurrencies like Dogecoin, SHIB, and Solana are experiencing significant market movements. Tesla is recalling 120,000 Model S and X EVs due to door issues. Nike and NetEase stocks moved lower in pre-market trading. US markets are optimistic with Dow jumping over 300 points. US and world politics are active with developments in US-China relations and Trump's potential 2024 run. The US economy sees criticism from Peter Schiff regarding Q3 GDP. In tech, Apple and Microsoft face challenges, while Tencent is hit by new regulations. The EV sector is highlighted by Tesla's recall and bullish predictions. GM recalls Chevrolet Bolt EVs. Amazon and Disney face challenges in communication, while Boeing resumes 787 deliveries to China. US banks may face significant losses in real estate, and Berkshire Hathaway increases its stake in Occidental Petroleum.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 1:35 pm

OCAX

Powermers Smart Industries, Inc. (PSI) is set to go public through a business combination with OCA Acquisition Corp. (OCAX). The transaction is expected to close in 2024, with the combined company to be listed on Nasdaq under the symbol PSII. PSI focuses on green-powered technology solutions for the commercial transportation and industrial equipment industries. The business model includes partnerships across the value chain, offering green equipment technology solutions and services. The pro forma equity value of the combined entity is estimated at $2 billion, with all PSI stockholders rolling their equity into the new company. The deal includes investments of up to $8 million in convertible promissory notes and an additional $2 million PIPE investment from OCAX's sponsor.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:34 pm

NKE

RKLB

RMCO

Royalty Management Holding Corporation (RMCO) and American Resources Corporation's investment in Advanced Magnetic Labs, Inc. has led to the commercial manufacturing of permanent magnets, causing RMCO shares to surge by 201%. Rocket Lab (RKLB) shares jumped 24% after announcing a $515 million contract with a U.S. government customer to design, manufacture, deliver, and operate 18 space vehicles. Nike (NKE) shares fell by 12% following mixed Q2 financial results and the announcement of a plan to identify up to $2 billion in cost savings.

Portfolio Pulse from ryanfaloona@benzinga.com

December 22, 2023 | 1:23 pm

GAN

GAN Ltd. (NASDAQ: GAN) announced board changes with Seamus McGill stepping down as Chairman but remaining as interim CEO. David Goldberg will become the new Chairman, and David D. Ross joins the board, bringing extensive gaming and hospitality experience. Michael Smurfit will leave the board at year's end. The changes come as GAN works towards a transaction close with Sega Sammy Creation Inc.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:08 pm

PETV

PetVivo Holdings has signed a distribution agreement with Covetrus North America for its veterinary medical device, Spryng with OsteoCushion Technology. Covetrus will handle inventory, marketing, and promotion of Spryng across the United States.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:03 pm

SEEL

Seelos Therapeutics' CEO Raj Mehra released a letter to stockholders discussing the company's recent reverse stock split and public offering, compliance with Nasdaq's minimum bid price requirement, and updates on their lead programs SLS-002 and SLS-005. SLS-002 was selected for a DOD-funded trial for PTSD treatment, retaining commercial rights. SLS-005 showed potential in a Phase IIb/III study for Spinocerebellar Ataxia. The company is seeking partnerships and has two proposals for the upcoming Special Meeting of Stockholders on January 10, 2024, including increasing authorized shares to 400 million and issuing more shares to Lind Partners under a convertible note.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:03 pm

ACM

AECOM (NYSE:ACM) has been selected by Metrolinx as the delivery partner for the Eglinton Crosstown West Extension project, a 9.2-kilometer extension of the Eglinton Crosstown LRT. AECOM will provide program management, advisory, and commercial management services. The company recently reported Q4 FY23 revenue growth of 12% Y/Y to $3.84 billion and adjusted EPS of $1.01, both exceeding consensus estimates. AECOM's cash and cash equivalents stood at $1.3 billion, with total debt at $2.2 billion as of September 30, 2023. ACM shares closed higher by 1.43% at $92.65.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 12:41 pm

CDTX

Cidara Therapeutics announced that its drug Rezzayo (Rezafungin Acetate) has been approved by the European Union for the treatment of invasive candidiasis in adults. This marks the first new treatment option for this condition in over 15 years. Following the approval by the European Medicines Agency (EMA), Cidara is set to receive a milestone payment of approximately $11.14 million from Mundipharma.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:32 pm

IMMR

UEIC

Universal Electronics Inc. has entered into a cooperation agreement with Immersion Corporation, which may involve strategic partnerships or product/service developments. The specifics of the agreement are not detailed in the article.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:15 pm