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AXNX

Axonics (NASDAQ:AXNX) has been rated by 5 analysts in the past three months, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target for AXNX is now $70.0, down from $75.25. Analysts from Truist Securities, Piper Sandler, Morgan Stanley, Needham, and Leerink Partners have adjusted their ratings and price targets. Axonics is a medical technology company with strong financial performance indicators such as a 32.27% revenue growth rate, a 4.22% net margin, and a 0.65% ROE.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 4:00 pm

BYDDY

BYD Company (OTC:BYDDY), a Chinese electric vehicle manufacturer, is planning to establish a new energy vehicle production base in Szeged, Hungary. This expansion into the European market follows the success of their first European factory in Komarom, Hungary, and the production of their 6 millionth new energy vehicle in Zhengzhou. BYD's stock (BYDDY) saw a 0.83% increase to $52.63 on Friday.

Portfolio Pulse from Shivani Kumaresan

December 22, 2023 | 3:14 pm

META

Meta Platforms Inc (NASDAQ:META) is facing backlash over its decision to implement encryption for Facebook direct messages, with concerns raised about the potential for abuse, particularly child sexual abuse. Employees, including former engineering director David Erb, have warned that encryption could hinder efforts to detect and report such abuse. Despite these concerns, Meta emphasizes privacy as a fundamental right and claims to have developed safety measures to prevent misuse. Law enforcement and child safety advocates are worried about the impact on investigations, while privacy advocates support the encryption for user protection. META shares saw a slight increase of 0.20% to $354.82.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 3:08 pm

AMZN

DIS

NFLX

Netflix Inc (NASDAQ:NFLX) released its first engagement report, providing valuable audience insights that could benefit the entire media industry. The report comes after a writers' and actors' strike that impacted major companies like The Walt Disney Company (NYSE:DIS). Disney, facing box office struggles and streaming losses, is cutting costs and focusing on quality over quantity. Disney's CEO Bob Iger aims for Disney+ profitability by next year. Amazon.com Inc (NASDAQ:AMZN) also keeps viewership data private but may follow Netflix's transparency lead, potentially improving media content quality across the industry.

Portfolio Pulse from Upwallstreet

December 22, 2023 | 2:49 pm

ALVR

BMY

CYCC

KRTX

NCPL

NXTP

RMCO

U.S. stocks opened higher with the Dow Jones gaining over 50 points. Energy shares led gains, while consumer discretionary shares declined. Core PCE inflation in the U.S. cooled to 3.2% year-on-year in November, below expectations. Karuna Therapeutics (KRTX) surged 47% after Bristol Myers Squibb (BMY) agreed to acquire it for $14.0 billion. Royalty Management Holding (RMCO) and NextPlay Technologies (NXTP) also saw significant gains. AlloVir (ALVR), Cyclacel Pharmaceuticals (CYCC), and Netcapital (NCPL) traded down after various updates, including clinical trial results and public offering pricing.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 2:40 pm

VLCN

Volcon Inc. (NASDAQ:VLCN) provided an update on the development of its Stag model, addressing previous supply chain issues. The company clarified that the issues are limited to two components requiring software and hardware updates. Once updated, a short testing phase will follow. Most components are ready for production, and the U.S. Army Corps will receive the initial shipments. Volcon anticipates starting shipments in Q1 2024, reflecting its commitment to quality in the electric powersports market.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:28 pm

BMY

KRTX

Bristol Myers Squibb & Co (NYSE:BMY) has agreed to acquire Karuna Therapeutics Inc (NASDAQ:KRTX) for $330.00 per share, totaling $14 billion in equity value. Karuna's lead asset, KarXT, is an antipsychotic drug for schizophrenia and is under FDA review with a decision expected by September 26, 2024. KarXT is also being tested for other conditions, including Alzheimer's disease psychosis. The deal is anticipated to close in the first half of 2024 and is expected to be dilutive to Bristol Myers' non-GAAP EPS by $0.30 in 2024. KRTX shares surged 48.80% to $320.30, while BMY shares fell 0.41% to $51.05 in premarket trading.

Portfolio Pulse from Vandana Singh

December 22, 2023 | 2:19 pm

ECX

ECARX Holdings Inc. (NASDAQ:ECX) has announced a strategic partnership with Black Sesame Technologies to develop advanced ADAS solutions and integrate their R&D, product, and technical resources. This collaboration is expected to drive business growth and solution deployment for both companies. ECARX will also share supply chain information with Black Sesame, enhancing collaboration with various vehicle brands. ECARX's products are currently in over 5.6 million vehicles globally. Additionally, ECARX has partnered with Black Sesame and BlackBerry Limited (NYSE:BB) to deploy the Skyland ADAS platform in Lynk & Co's flagship SUV. ECX shares closed lower by 1.15% at $2.570 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 2:16 pm

TENB

Tenable has achieved the FedRAMP 'Ready' designation for its Tenable Cloud Security for U.S. Government - Ermetic, a comprehensive CNAPP solution. This status, which follows the acquisition of Ermetic in October 2023, allows the U.S. federal government to deploy Tenable Cloud Security across various departments and agencies, enhancing cloud security and modernization efforts. Tenable's other solutions, Tenable Vulnerability Management and Tenable Web App Scanning, achieved FedRAMP authorization in 2021.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:04 pm

PBH

Insight Pharmaceuticals, a subsidiary of Prestige Consumer Healthcare Inc., is voluntarily recalling one lot of Americaine 20% Benzocaine Topical Anesthetic Spray due to the detection of benzene, a known carcinogen, from the propellant in the product. The recall is limited to one lot, with no other lots affected. The company has not received any reports of serious adverse events and is offering refunds to consumers with the affected lot. The recall is being conducted with the knowledge of the U.S. Food and Drug Administration.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:03 pm