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U.S. stocks traded higher, with the Dow Jones gaining around 80 points. Consumer discretionary shares led gains, while information technology shares fell. The Richmond Fed Manufacturing Index dropped to -11, the lowest in ten months. First Wave BioPharma, Cytokinetics, and Coherus BioSciences saw significant stock increases due to positive developments. Hallmark Financial Services announced its intention to delist from Nasdaq, Bluejay Diagnostics initiated a clinical study, and Iovance Biotherapeutics faced an FDA clinical hold, all leading to stock declines. Gold rose 1%, and oil prices fell slightly.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 5:27 pm

SAM

Despite no federal legalization of marijuana or approval of the SAFE Banking Act, optimism persists in the cannabis industry. Experts predict 2024 could bring significant changes, including potential rescheduling of cannabis and advancements in minor cannabinoids and marijuana beverages. Industry leaders emphasize the importance of scalable solutions and cost management. Political dynamics may influence progress, with predictions of reclassification efforts and increased M&A activities. The cannabis sector is also expected to impact alcohol sales, with a projected increase in cannabis users and a decrease in alcohol consumers.

Portfolio Pulse from Nina Zdinjak

December 27, 2023 | 5:17 pm

AMD

AMD has released six patches for the Power Management Controller driver on Linux, likely for the upcoming Zen 5 CPUs. These patches suggest preparation for an earlier 2024 release compared to previous Zen generations. The Zen 5 is expected to feature the Navi/RDNA 3.5 iGPU architecture, which could outperform Intel's Meteor Lake's Arc graphics in Linux and influence the gaming hardware market, including devices like the Steam Deck 2.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 5:13 pm

CVRX

Lake Street has reaffirmed its Buy rating on CVRx (NASDAQ:CVRX) and increased its price target from $21.00 to $32.00. CVRx's stock is currently trading at $31.44, up 1.29% over the last 24 hours. The new price target suggests a modest 1.78% potential upside. CVRx is a medical device company specializing in neuromodulation solutions for cardiovascular diseases, with its main product, Barostim, targeting the Autonomic Nervous System to treat heart failure.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 5:00 pm

CART

Wedbush has maintained a Neutral rating for Maplebear (NASDAQ:CART), also known as Instacart, and lowered its price target from $30.00 to $26.00. Despite this, Maplebear's shares have seen a slight increase of 0.08% over the last 24 hours, trading at $24.21. The new price target suggests a potential upside of 7.39% from the current share price. Instacart operates as an online grocery pickup and delivery service in the US and Canada, earning revenue through transaction fees and advertising.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 5:00 pm

DIS

Disney's 'Percy Jackson and the Olympians' reboot premiered on Disney+ and Hulu, attracting 13.3 million viewers in six days. The series, based on Rick Riordan's books, could boost Disney+ subscriptions, complementing its content library alongside 'Bluey', the most-watched series for kids in 2023. Despite calls to cancel Disney+ and Hulu subscriptions, strong content offerings for kids and teens may keep Disney+ competitive in the streaming market.

Portfolio Pulse from Chris Katje

December 27, 2023 | 4:57 pm

ROI

RiskOn International, Inc. (NASDAQ:ROI) is set to announce a new generative AI platform and unveil its principal technology partner on January 3, 2024. The partnership is based on over five years of AI research and development, focusing on a full stack application built around a large language model (LLM). The company aims to commercialize the proprietary LLM research to enhance AI integration in everyday business operations.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 4:55 pm

CHRS

Coherus BioSciences, Inc. (NASDAQ:CHRS) stock is rising after announcing FDA approval for its Udenyca Onbody pegfilgrastim delivery device. The device offers an automatic delivery option for medication, complementing existing administration methods. High short interest in CHRS shares could lead to larger stock movements following such positive catalysts.

Portfolio Pulse from Erica Kollmann

December 27, 2023 | 4:54 pm

AIR

AAR Corp (NYSE:AIR) has expanded its flight-hour component support agreement with ASL Aviation Holdings DAC, increasing the number of supported aircraft from 28 to 65. The contract now includes ASL Airlines from Belgium, France, the United Kingdom, and Ireland. AAR's Integrated Solutions will provide 24/7 support for the airlines' 737 fleets. Financial details of the deal were not disclosed. AAR's stock was trading slightly lower at the time of the report.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 4:50 pm

CODX

Co-Diagnostics shares are trading higher following the company's announcement of submitting its Co-Dx PCR COVID-19 test and Co-Dx PCR Pro instrument for FDA Emergency Use Authorization review.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 4:48 pm