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BLK

NDAQ

BlackRock (BLK), Nasdaq (NDAQ), and SEC officials met for the second time to discuss Nasdaq's proposed rule change for listing a Bitcoin ETF. The meeting covered the iShares Bitcoin Trust's listing under NASDAQ Rule 5711(d) and included discussions on creation and redemption methodologies. BlackRock's revised S-1 filing indicates a preference for cash redemptions. Analyst Timbo speculated on Twitter about a potential pre-holiday approval of a Bitcoin ETF.

Portfolio Pulse from Khyathi Dalal

December 20, 2023 | 3:47 pm

BTBT

NVDA

Bit Digital Inc (NASDAQ:BTBT) shares are up after the company announced the receipt of new AI servers equipped with Nvidia Corp (NASDAQ:NVDA) HGX H100 GPUs. The company has received 89 servers and expects another 103 by early January. These servers will be shipped to Iceland by the end of the month. Bit Digital also amended an agreement for a three-month prepayment from a customer. The stock rise may also be influenced by an increase in Bitcoin prices, which are up over 160% since the start of the year.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 3:30 pm

PRZO

Parazero Technologies Ltd (NASDAQ:PRZO) stock surged 72.8% to $1.21 after announcing the completion of a custom safety solution for a Fortune 500 automotive manufacturer's drone program. The company received payment for a unique variant of their SafeAir drone safety system, which led to a second purchase order from the same customer. CEO Boaz Shetzer highlighted Parazero's technical capabilities and the growing trust in their drone safety solutions. PRZO's 52-week range is between $0.56 and $4.15.

Portfolio Pulse from Henry Khederian

December 20, 2023 | 3:26 pm

TTC

Toro Co (NYSE:TTC) shares surged approximately 8% following their Q4 earnings report and FY24 guidance. Despite a 16% Y/Y sales decline to $983.2 million, the results beat the consensus estimate of $973.7 million. The company experienced robust demand in its professional segment, particularly in underground and specialty construction, and golf and grounds businesses. This demand helped mitigate the significant drop in homeowner demand and channel destocking for lawn care solutions. Professional segment sales were $828.9 million, down 12.3% Y/Y, while Residential segment sales were $148.4 million, down 33.6% Y/Y. Adjusted gross margin and operating margin both contracted, and adjusted EPS of $0.71, down 36% Y/Y, still beat the consensus of $0.56. Toro ended the quarter with $193.1 million in cash and equivalents. For FY24, Toro forecasts low-single-digit net sales growth and adjusted EPS of $4.25-$4.35, in line with consensus estimates. The company anticipates benefits from a stable supply chain and a strategic partnership with Lowe's, along with a new productivity initiative named AMP, aiming for over $100 million in annualized cost savings by fiscal 2027.

Portfolio Pulse from Lekha Gupta

December 20, 2023 | 3:24 pm

EPOW

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) has contributed to the development of a national industry standard policy for artificial graphite anode materials in China. The company was invited by the China Battery Industry Association (CBIA) to initiate the drafting of this standard, which is critical for quality control in the battery industry. This involvement highlights Sunrise's technological expertise, industry recognition, and influence within the battery sector.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 3:21 pm

HYLN

Hyliion Holdings Corp (NYSE:HYLN) shares surged after announcing a $20 million share buyback program. The company is shifting focus to the KARNO generator, winding down powertrain operations. With $324 million in cash and investments as of September 2023, Hyliion plans initial paid deployments of KARNO in late 2024 and expects $40 million in cash spending for the year. A non-binding letter of intent with GTL Leasing LLC for KARNO generator deployment in California was also announced. HYLN shares rose 4.15% to $0.73.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 3:08 pm

KSCP

Knightscope, Inc. (NASDAQ:KSCP) has secured a new contract to provide a California semiconductor supplier with one 5th Generation K5 Autonomous Security Robot and two K1 Hemispheres. The client aims to reduce guarding costs and protect its chip production facility. The K5 will patrol indoors, while the K1 Hemispheres will monitor the building's entrances. The client may consider expanding the use of Knightscope's robots to its other US locations after evaluating the initial deployment.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:52 pm

PETV

PetVivo Holdings has renewed a 12-month contract with New to The Street for continued promotion of its Spryng™ product line through interviews, commercials, and digital billboard ads in NYC. Spryng™, a veterinary medical device for treating lameness and joint pain in pets, has shown efficacy and safety as a non-invasive treatment for osteoarthritis.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:32 pm

AFRM

AMZN

WMT

Affirm Holdings Inc (NASDAQ:AFRM) has expanded its partnership with Walmart Inc (NYSE:WMT) to allow customers to use buy-now-pay-later (BNPL) services at self-checkout kiosks, in addition to the existing in-store and online credit application process. This move aims to boost holiday shopping as BNPL usage increases, with a 42.5% year-over-year rise on Cyber Monday. Affirm also partnered with Amazon.com Inc (NASDAQ:AMZN) on Black Friday to offer payment options to Amazon Business customers. The expansion with Walmart and the partnership with Amazon highlight the growing demand for BNPL services, especially during a time when consumers are more budget-conscious due to the macroeconomic climate.

Portfolio Pulse from Upwallstreet

December 20, 2023 | 2:22 pm

NRXS

NeurAxis, Inc. (NRXS) issued a shareholder letter highlighting progress since its IPO, including strong med-tech research publications, insurance policy coverage, and revenue growth in Massachusetts and Wisconsin. The company anticipates two new revenue opportunities in 2024: Functional Dyspepsia treatment and an exclusive license for a rectal expulsion device (RED) from the University of Michigan. Both have a $2B market opportunity. NeurAxis is preparing for FDA clearance submissions and expects to surpass 75M covered lives and significant revenue increases in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:11 pm