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PYPL

Elon Musk, in a conversation with Cathie Wood, indicated that his company X (formerly Twitter) could obtain the necessary state licenses for financial payments by mid-2024. Musk mentioned that X is awaiting final transmitter licenses, with approvals from New York and California being crucial. This development could position X as a super app and put it in competition with online payment companies like PayPal Holdings (NASDAQ:PYPL). Musk also noted that cryptocurrencies like Dogecoin (CRYPTO:DOGE) could be used for payments on X, although X will not offer its own coin.

Portfolio Pulse from Chris Katje

December 21, 2023 | 11:20 pm

MNOV

MediciNova announced that an abstract on their drug MN-166 (ibudilast) for treating chlorine gas-induced lung injury has been accepted for presentation at the Society of Toxicology's 63rd Annual Meeting. This could indicate progress in the drug's development and potential for future applications in treating lung injuries caused by toxic gas exposure.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 11:04 pm

MU

Micron Technology, Inc. (NASDAQ:MU) CEO Sanjay Mehrotra discussed the company's future on CNBC, attributing improving financials to better supply-demand balance and increased demand for chips driven by generative AI. Micron expects a return to profitability by May and positive free cash flow by August. Mehrotra predicts growth in AI will lead to higher memory requirements in various devices, boosting sales and profitability. Micron aims to maintain supply management discipline for a strong 2025. MU shares closed up 8.63% following the report.

Portfolio Pulse from Erica Kollmann

December 21, 2023 | 10:50 pm

MSFT

Bethesda, a developer under Microsoft Corporation (NASDAQ:MSFT), has announced an end-of-year update for 'Starfield' with plans for 2024. The next major update is expected in February and will include bug fixes, quality-of-life improvements, city maps, new travel methods, ship customization, gameplay adjustments, and potentially a new survival mode. Bethesda also teased the first story expansion 'Shattered Space' and promised more information soon.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 10:10 pm

COCP

MRK

Cocrystal Pharma (COCP) received a termination notice from Merck (MRK) on December 15, 2023, ending their collaboration agreement from January 2, 2019. The termination will be effective on March 14, 2024, ceasing their joint development of influenza A/B antiviral compounds.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:05 pm

GLTO

Galecto, Inc. shares surged following the announcement of positive topline results from their Phase 2a trial of GB2064, aimed at treating myelofibrosis.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:59 pm

AMZN

COST

DKS

TJX

WMT

The 2023 holiday shopping season has seen Dick's Sporting Goods (DKS) and Costco (COST) on the 'nice list' with significant gains and positive analyst ratings, while Amazon (AMZN) also performed well with new 52-week highs. TJX Companies (TJX) and Walmart (WMT) are on the 'naughty list' due to disappointing guidance and stock performance, respectively. App Store data from SimilarWeb indicates strong mobile app performance for these retailers, with varying impacts on their stock prices.

Portfolio Pulse from Erica Kollmann

December 21, 2023 | 9:49 pm

CGC

A study from Georgia College & State University and Kennesaw State University found that marijuana legalization correlates with improved college basketball recruiting but a decline in football recruiting. The study, published in the Journal of Sports Economics, used data from 2003 to 2019. It suggests that the NBA's lenient stance on marijuana may influence basketball recruits, while the NFL's stricter policy could deter football recruits. The study also notes the evolving policies of professional leagues, including the NBA's removal of marijuana from its banned substances list and the NFL's relaxed off-season testing. Canopy Growth Corp. (NASDAQ:CGC) is involved in research with the NHL Alumni Association on cannabinoids for post-concussion treatment.

Portfolio Pulse from Joana Scopel

December 21, 2023 | 9:30 pm

SONY

A cyber breach at Sony's Insomniac Games has exposed internal challenges, including directives for staff cuts and budget constraints. Insomniac is pressured to reduce 50-75 positions, affecting teams on 'Spider-Man 3' and 'Wolverine'. Other PlayStation studios are also facing cuts, with one studio closure mentioned. 'Spider-Man 2' exceeded its budget by $30 million, highlighting the risks of triple-A game development. Sony's pivot to live service games is under review, with the cancellation of 'The Last of Us' multiplayer game.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 9:29 pm

RKLB

Rocket Lab USA, Inc. has announced through an SEC 8K filing that it is scheduled to deliver space vehicles for launch by 2027. The company will also operate the satellites through 2030, with an option to extend operations until 2033.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:26 pm