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ECX

ECARX Holdings Inc. (NASDAQ:ECX) stock rose by 11.2% after announcing a joint venture with smart for the development of intelligent automotive products. The collaboration aims to enhance technology, foster R&D through talent exchanges, and support global expansion. This partnership builds on their previous work on smart #1 and smart #3 models and the smartOS operating system.

Portfolio Pulse from Ryan Gustafson

December 28, 2023 | 10:17 pm

TUSDUSD

TrueUSD (TUSD) has announced a partnership with accounting firm Moore Hong Kong (MooreHK) to provide daily attestation services for its stablecoin operations. The collaboration, starting in late January 2024, aims to increase transparency and trust by leveraging MooreHK's audit and advisory expertise. Additionally, TUSD is working with The Network Firm to enhance technical support and innovative solutions for blockchain industry transparency. This move is part of TUSD's ongoing commitment to maintaining a transparent and robust reserve system for its stablecoin.

Portfolio Pulse from Murtuza Merchant

December 28, 2023 | 9:29 pm

ECX

ECARX's stock price has increased following the announcement of a joint venture with smart for the development of intelligent automotive products. This strategic partnership is expected to enhance ECARX's product offerings and market position in the intelligent automotive industry.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 8:40 pm

FMST

PZG

TMC

Paramount Gold Nevada Corp. (PZG) secured a $15M financing deal with Sprott for the Grassy Mountain Gold Mine. The Metals Company Inc. (TMC) concluded offshore research for its nodule collection system. Foremost Lithium (FMST) announced a 7,500-meter drill program at its Zoro lithium property.

Portfolio Pulse from Austin DeNoce

December 28, 2023 | 8:19 pm

SILO

Silo Pharma (NASDAQ:SILO) is advancing its ketamine-loaded implant, SP-26, for fibromyalgia and chronic pain through preclinical trials with approval from state and federal authorities. The company has partnered with Sever Pharma Solutions for development and manufacturing. The implant is designed for at-home pain relief and aims to be the first at-home approved ketamine treatment for chronic pain. Silo Pharma is pursuing FDA approval through the 505(b)(2) pathway. The fibromyalgia market was valued at $3.1 billion in 2022 and is expected to grow at a 4% CAGR until 2032, while the broader chronic pain market could exceed $140 billion by 2030.

Portfolio Pulse from Lara Goldstein

December 28, 2023 | 8:10 pm

AMD

ANET

CRWD

NOW

NVDA

PCOR

PSTG

SNPS

Marc Chaikin, founder of Chaikin Analytics, is bullish on AI-enhanced software companies and predicts the S&P 500 rally will continue into 2024. He sees AI-driven companies as key players, especially during earnings season. Chaikin's optimism is based on January's positive start, which historically suggests a favorable year. He expects any S&P 500 pullbacks to be modest. Chaikin highlights tech sector companies like ServiceNow, Synopsys, Pure Storage, and Procore Technologies as ones to watch, with Pure Storage's partnership with NVIDIA and Procore's competition with Autodesk. He also sees potential in 'secondary tech stocks' like Arista Networks and CrowdStrike Holdings. Chaikin picks AMD in the semiconductor space and warns of a potential bond market sell-off if the Fed doesn't cut rates in March. He advises monitoring China's economic impact on global inflation and supply chains.

Portfolio Pulse from Surbhi Jain

December 28, 2023 | 8:00 pm

BMBL

DUOL

MTCH

NFLX

SPOT

KeyBanc analyst Justin Patterson provided updates on several app and entertainment companies. Netflix (NFLX) and Spotify (SPOT) are favored for their pricing power and product leadership, with Netflix's price target raised to $525 and Spotify's maintained at $255. Duolingo (DUOL) is rated Sector Weight with potential for future price increases. Match Group (MTCH) has a lowered price target of $48 due to concerns over its pricing strategy. Bumble (BMBL) retains an Overweight rating and $20 price target, with unchanged estimates. Patterson sees Spotify as his top pick, with Netflix expected to have low-teens revenue growth and raised EPS estimates for 2024 and 2025.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 7:33 pm

BJDX

CING

CTSO

DOYU

MBOT

VLD

U.S. stocks closed higher with the Dow Jones gaining over 100 points. Utilities shares led gains, while energy shares lagged. Microbot Medical, Cingulate, and DouYu International saw significant share price movements after company-specific news. Conversely, Cytosorbents, Bluejay Diagnostics, and Velo3D experienced sharp declines. Crude oil inventories dropped significantly, exceeding market expectations. Economic data showed a rise in jobless claims and a widening trade deficit in goods, while wholesale inventories and pending home sales remained relatively stable.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 7:32 pm

AIQ

BOTZ

IRBO

Ben Henry-Moreland of Kitces.com discusses the limitations of AI in replacing human financial advisors due to fiduciary responsibilities. SEC regulations require advisors to understand the technology they use, but the complexity of AI tools makes this challenging. AI can serve as a 'digital analyst' to aid advisors, but cannot fully replace them due to the need for human judgment in financial decision-making. The article mentions ETFs BOTZ, AIQ, and IRBO as investment vehicles in the AI space.

Portfolio Pulse from Surbhi Jain

December 28, 2023 | 7:22 pm

DIA

GDX

IWM

PENN

QQQ

SPY

TAN

TLT

USO

XLE

XLU

The S&P 500 and Dow Jones Industrial Average edged up by 0.1%, while the Nasdaq 100 mirrored this performance with a significant yearly gain. The iShares Russell 2000 ETF (IWM) is down 0.3%, and the iShares 20+ Year Treasury Bond ETF (TLT) declined by 0.6%. Gold remains stable, crude oil tracked by the United States Oil Fund (USO) fell by 1%, and Bitcoin dropped 2.3% after Cathie Wood sold her Grayscale Bitcoin Trust shares. The SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF (DIA), and Invesco QQQ Trust (QQQ) are steady. Utilities sector ETF (XLU) is up, while the Energy sector ETF (XLE) is down. The Invesco Solar ETF (TAN) gains, and the VanEck Gold Miners ETF (GDX) falls. AMD leads gains in large-cap tech, while crypto-related stocks show mixed reactions. Penn Entertainment (PENN) rallies after a hedge fund seeks board nomination authority.

Portfolio Pulse from Piero Cingari

December 28, 2023 | 7:17 pm