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Partnerships

AMZN

GOOG

MSFT

NVDA

Microsoft Corp (NASDAQ:MSFT) has made strategic moves to strengthen its position in artificial intelligence (AI) by hiring Sam Altman and Greg Brockman, former executives of OpenAI, after Altman's ouster as CEO of OpenAI. OpenAI, known for developing ChatGPT, experienced a culture clash leading to Altman's firing. Microsoft, a major investor in OpenAI, attempted to reinstate Altman but instead brought him and Brockman on board. This move is seen as positive for Microsoft's AI ambitions but negative for competitors like Alphabet Inc Class C (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN). Microsoft also announced two new AI semiconductor chips, which could impact NVIDIA Corp (NASDAQ:NVDA) as Altman had plans to start a semiconductor company to compete with NVIDIA before his firing. NVIDIA's upcoming earnings report is highly anticipated. Early trade money flows are positive for Microsoft, Meta Platforms Inc (NASDAQ:META), Tesla Inc (NASDAQ:TSLA), and Apple Inc (NASDAQ:AAPL), but negative for Alphabet and Amazon. Mixed money flows are seen in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Portfolio Pulse from The Arora Report

November 20, 2023 | 5:43 pm

AUPH

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) shares have risen, continuing a trend following Otsuka Pharmaceutical's filing of a new drug application (NDA) for voclosporin in Japan. Aurinia, which partnered with Otsuka in 2020, stands to receive a $10 million payment and royalties upon approval. The FDA approved voclosporin in early 2021, and it is available in the U.S. as LUPKYNIS. Aurinia is currently trending on social platforms and was the top ticker on Stocktwits.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 5:38 pm

STLA

Stellantis NV plans to expand vehicle production in Italy, aiming to increase annual output to one million vehicles. Negotiations with the Italian government, labor unions, and automotive groups will begin on Dec. 6 to discuss production targets, R&D, worker retraining, and supplier support. The success of the plan depends on government measures such as revising the Euro 7 emission regulation, EV incentives, charging network expansion, and energy cost reduction. Stellantis shares rose 0.99% to $20.43.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 5:18 pm

AZN

FMI

The U.S. FDA has approved Foundation Medicine's FoundationOne CDx as a companion diagnostic for AstraZeneca's Truqap in combination with Faslodex for treating HR-positive, HER2-negative advanced breast cancer with specific alterations. This approval follows the positive results from the CAPItello-291 trial, which showed significant improvement in progression-free survival. FoundationOne CDx is the first FDA-approved test for this subset of breast cancer patients and is part of Foundation Medicine's portfolio of FDA-approved comprehensive genomic profiling tests.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 5:04 pm

USDTUSD

Tether, in collaboration with crypto exchange OKX, has frozen approximately $225 million in USDT tokens linked to a Southeast Asian human trafficking syndicate involved in a 'pig butchering' scam. This action, the largest-ever freeze of USDT, was a result of a joint investigation with the U.S. DOJ and utilized Chainalysis tools. The U.S. Secret Service requested the proactive freeze. Tether CEO Paolo Ardoino and OKX Chief Innovation Officer Jason Lau emphasized their commitment to security and collaboration with law enforcement to combat illicit activities in the crypto space.

Portfolio Pulse from Murtuza Merchant

November 20, 2023 | 5:01 pm

DTC

Solo Brands Inc (NYSE:DTC) shares rose after announcing Snoop Dogg as their spokesperson and 'smokesman' for Solo Stove. Snoop Dogg's recent 'giving up smoke' announcement was a teaser for this partnership. Solo Stove, known for its smokeless fire pits, will collaborate with Snoop Dogg on product innovation and a new signature line. A limited edition bundle, including a fire pit designed by Snoop Dogg, was released for sale at $349.99.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 4:14 pm

BID

Sotheby's is set to auction six shirts worn by Lionel Messi during Argentina's 2022 World Cup victory, with estimates exceeding $10 million. The shirts, including one from the final, could become the most valuable sports memorabilia ever auctioned. The current record is held by Michael Jordan's 1998 NBA Finals Jersey at $10.1 million. The auction, running from November 30 to December 14, follows the sale of Diego Maradona's 'Hand of God' shirt for $9.3 million. The auction is organized by AC Momento, a US tech startup, and a portion of proceeds will support the UNICAS project in partnership with the Leo Messi Foundation.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 4:08 pm

AMRC

Ameresco Inc (NYSE:AMRC) has signed a contract to build a battery energy storage system (BESS) for Silicon Valley Power (SVP) to enhance electrical system reliability. The BESS, named Kifer Energy Storage LLC, will have a capacity of up to 50-megawatts and 200 megawatt-hours. Construction is set to begin in mid-2024, initiating a 25-year lease and Energy Storage Agreement with the City of Santa Clara. Ameresco will develop, own, and operate the BESS, which aims to integrate renewable energy, reduce reliance on gas-fired generation, and cut emissions. Despite the positive news, AMRC shares dropped by 1.90% to $28.39.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 3:50 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) has launched 'AI Ready,' a program to provide free AI training to 2 million people by 2025. The initiative includes free courses, a scholarship with AWS, and a partnership with Code.org. AWS will offer over $12 million in Udacity scholarships to students from underserved communities. Additionally, Amazon has introduced the Hour of Code Dance Party: AI Edition in collaboration with Amazon Future Engineer and Code.org. Amazon's CEO Andy Jassy sees generative AI as a potential source of 'tens of billions in revenues.' AMZN stock saw a slight increase of 0.05% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 3:33 pm

GOOG

GOOGL

NVDA

Nvidia Corp's (NASDAQ:NVDA) stock has soared by about 240% this year, fueled by AI-driven demand for its graphics chips. L&T Technology Services has partnered with Nvidia to develop medical device architectures, enhancing endoscopy image quality. SandboxAQ, an Alphabet Inc spinoff, is using Nvidia's quantum platforms for simulating quantum mechanics in various sciences. The Bill & Melinda Gates Foundation Trust recently bought 9,200 shares of Nvidia, now among its top holdings. NVDA shares were up 0.47% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 3:28 pm