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NTES

TCEHY

Shares of Tencent Holdings Ltd (OTC:TCEHY) and NetEase Inc (NASDAQ:NTES) rebounded after China's National Press and Publication Administration (NPPA) signaled a softer regulatory stance on gaming. Tencent's shares rose by 3% and NetEase's by 14% after the NPPA announced the approval of 105 new domestic online games, including titles from both companies. This comes after a draft regulation aimed at curbing in-game spending caused a sharp decline in gaming stocks. The NPPA's recent actions suggest continued support for the industry despite regulatory concerns.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 4:50 am

AAPL

MASI

Apple Inc. (AAPL) is appealing a sales ban on its smartwatches imposed by the U.S. International Trade Commission due to a patent dispute with Masimo Corp. (MASI). The White House declined to intervene, and Apple has stopped selling its Series 9 and Ultra 2 watches in its online store and U.S. retail outlets. Apple has submitted an emergency motion for a temporary suspension of the ban and released a software update to address the patent issue. The U.S. customs agency will decide on the approval of these changes on Jan. 12. The ban could cost Apple $300-$400 million in holiday sales.

Portfolio Pulse from Ananya Gairola

December 27, 2023 | 4:35 am

TSLA

UBER

Uber Technologies Inc is partnering with Tesla Inc to launch a taxi service in Japan, leveraging Tesla's Model Y vehicles. This move follows Japan's policy change allowing ridesharing services and aims to address the shortage of taxi drivers. Uber plans to start with 30 Tesla vehicles and expand to 100 EVs by 2024. The service will cost about 20% more than local fares. Uber is investing $800 million to transition to EVs globally, with goals to be fully electric in the US and Canada by 2030, and worldwide by 2040. The company has also integrated London's black cabs into its platform and offered discounts to Uber drivers on Tesla cars.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 4:27 am

TSLA

Morgan Stanley analyst Adam Jonas maintains an overweight position on Tesla Inc (TSLA) with a $380 price target, citing potential growth from non-automotive segments like AI, network services, and energy. He highlights the importance of Optimus, Dojo, and AI for Tesla's future, expecting new technologies to be introduced at Tesla's next AI day in 2024. Jonas predicts a 27% CAGR in Tesla's EPS through FY30, reaching $15/share by mid FY29 and $5/share by end of 2025.

Portfolio Pulse from Anan Ashraf

December 27, 2023 | 3:36 am

BYDDF

TSLA

XPEV

Tesla Inc (NASDAQ:TSLA) is planning a major overhaul of its Model Y, with production starting in mid-2024 at its Shanghai plant, to compete with rising rivals like BYD (OTC:BYDDF) (OTC:BYDDY) and Xpeng Inc. (NYSE:XPEV). The updated Model Y will feature significant changes and is crucial for Tesla's sales in China, where the Model Y accounts for 75% of its total sales. BYD, backed by Warren Buffett, may surpass Tesla in global electric car sales this quarter.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 2:46 am

AAPL

Tang Tan, an iPhone design executive from Apple Inc. (AAPL), is set to join Jony Ive's design studio LoveFrom and collaborate with OpenAI CEO Sam Altman on a new AI hardware project. The project will focus on creating AI devices for the home, with Altman expected to provide the software. This collaboration follows a trend of former Apple employees moving to LoveFrom, which has already attracted over 20 ex-Apple staff. Tan will lead hardware engineering for the AI initiative at LoveFrom. Previously, there were rumors of advanced talks to build the 'iPhone of AI' involving Altman, Ive, and SoftBank Group Corp.'s Son, which Altman later denied.

Portfolio Pulse from Ananya Gairola

December 27, 2023 | 2:27 am

OUST

Ouster, Inc. (NYSE:OUST) shares have been trending higher since November, with significant gains following their Q3 earnings report, which surpassed top and bottom line estimates. The company provided Q4 revenue guidance between $23 million and $25 million, compared to the $25.63 million estimate. Recently, Ouster achieved ISO 27001 InfoSec certification, demonstrating a commitment to high standards of data security, which led to a stock increase of over 25% after the announcement. OUST shares closed up 13.5% at $8.20.

Portfolio Pulse from Ryan Gustafson

December 27, 2023 | 1:27 am

YCBD

cbdMD, Inc. (YCBD) reported a 27% year-over-year decrease in Q4 net sales to $5.7 million, with a net loss narrowing by 67% YoY. Fiscal 2023 total net sales were $24.2 million, down from $35.4 million. The company launched into 160 Sprouts Markets and introduced new brands hempMD and ATRx. YCBD shares traded 7.11% higher at $0.7333 in pre-market on Tuesday.

Portfolio Pulse from Jelena Martinovic

December 26, 2023 | 11:05 pm

AAPL

TGT

Former iPhone thief Aaron Johnson revealed methods for stealing iPhone passcodes to access financial accounts, leading to identity theft. Thieves target public spaces, watch users enter passcodes, and then steal the phones to change Apple ID and FaceID settings. They exploit the devices to make purchases, notably at Target (TGT), before wiping and selling them. Apple (AAPL) responded by introducing 'Stolen Device Protection' in iOS 17.3, requiring biometric verification to change Apple ID or disable Find My iPhone.

Portfolio Pulse from Erica Kollmann

December 26, 2023 | 10:26 pm

BTBT

Bit Digital, Inc. (NASDAQ:BTBT) has announced plans to double the size of its Bitcoin mining fleet to approximately 6.0 EH/s by 2024. The company, which focuses on sustainable digital assets and AI infrastructure, aims to expand its operations significantly within the next year.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:02 pm