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SSKN

Strata Skin Sciences (SSKN) has announced the expansion of its distribution agreement with Kosmo Meditech, aiming to enhance the distribution of its products. This strategic move is expected to increase market penetration and revenue growth for Strata Skin Sciences.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:01 pm

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, expressed concerns about the potential negative impact of Elon Musk's 'extreme' behavior on Tesla's sales. Gerber believes that while some consumers will continue to buy Tesla for its value, others may be deterred by Musk's actions and opt for other EV brands. Despite this, Gerber remains bullish on Tesla in the long term. A recent study suggests that Musk's behavior has little to no impact on many consumers' decisions to buy Tesla vehicles, with some even more inclined to purchase due to Musk.

Portfolio Pulse from Anan Ashraf

December 29, 2023 | 1:01 pm

NRBO

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares dropped in Friday's premarket session by 4.76% to $3.81 after a 21.2% gain the previous day. The decline follows the company's submission of an IND application to the FDA for a Phase 1 trial of DA-1726, a novel treatment for obesity. DA-1726 has shown promising preclinical results, outperforming existing treatments like semaglutide and tirzepatide in animal models. The Phase 1 trial will be randomized, placebo-controlled, double-blind, and will have two parts: a single ascending dose study and a multiple ascending dose study.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 12:59 pm

LYFT

QQQ

SPY

TSLA

UBER

Ahead of the final trading session of 2023, Nasdaq and S&P 500 futures are flat, with the broader market potentially setting a record close. The S&P 500 is close to an all-time high, and the market is expected to have low volume due to the New Year holiday. Thursday's trading closed mixed, with the S&P 500 nearing its record and Nasdaq slightly down. Analyst Louis Navellier predicts AI to be a major theme and expects energy, consumer staples, utilities, and healthcare to do well in 2024. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight premarket gains. Tesla (TSLA) is up in premarket trading, while Lyft (LYFT) and Uber (UBER) are down. Economic data to watch includes the Chicago ISM manufacturing survey.

Portfolio Pulse from Shanthi Rexaline

December 29, 2023 | 12:45 pm

AMD

NVDA

AMD is set to release a new low-end graphics card, the Radeon RX 7600 XT, on January 22, positioned between the RX 7700 XT and RX 7600. The launch is in response to Nvidia's introduction of more affordable options. The RX 7600 XT will not feature a reference model and is expected to offer modest performance improvements with a memory upgrade. AMD's stock rose 20.1% last month, outperforming Nvidia's 2.9% gain. AMD shares closed higher by 0.56% at $149.60 on Thursday.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 12:34 pm

FRSX

Foresight Autonomous Holdings announced a collaboration with a major Chinese OEM specializing in electric vehicles (EVs), rechargeable batteries, and related products. This partnership could enhance Foresight's market position in the EV sector.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 12:17 pm

BIDU

Baidu Inc. (NASDAQ:BIDU) announced that its AI chatbot, Ernie, has surpassed 100 million users. Following the announcement, Baidu's shares increased by 3% in U.S. trading. Ernie bot, which supports English and Chinese, competes with OpenAI's ChatGPT. Baidu has started charging a monthly subscription for the advanced version of Ernie bot. Goldman Sachs analyst Lincoln Kong maintains a Buy rating on Baidu, citing its AI focus as a driver for stable margins and revenue growth.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 11:57 am

RIVN

TSLA

Rivian CEO RJ Scaringe compares the upcoming R2 vehicles to Tesla's more affordable models, like the Model 3. Rivian's R1T truck and R1S SUV, priced over $70,000, will be followed by the R2, aiming for a lower price point around $45,000 to $50,000. Production of the R2 platform is set to begin in 2026, with unveilings in early 2024. Rivian's Q3 deliveries nearly matched Tesla's Model S and X, and it reported higher-than-expected revenue with a loss of $1.19 per share. The company also recently reduced its battery technologies team by 8% to focus on the R2.

Portfolio Pulse from Anan Ashraf

December 29, 2023 | 11:52 am

FSR

Fisker has reported a significant increase in deliveries, with over 300% growth from Q3 to Q4. The company produced 10,142 Fisker Oceans in 2023 and delivered approximately 4,700 vehicles. In January, Fisker plans to announce a strategy to boost sales and deliveries, leveraging production capabilities and strong demand for the Fisker Ocean SUV. The company will also ramp up test-drive events in the US and Europe, as these have led to higher sales rates post-test drives. Customers have praised the Ocean's ride, handling, and unique features after experiencing it.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:34 am

SOL

Emeren Group announced it has achieved a portfolio of 1GW of battery energy storage in Italy, marking a significant milestone in the energy storage sector. The company's progress in Italy positions it as a key player in the European energy storage market.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:30 am