Streetbeat News

Products Services

CYN

Cyngn's stock price has increased following the announcement of a new patent, US-11,837,089-B2, for its autonomous vehicle and driving solutions.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:09 pm

BETS

Bit Brother Ltd (NASDAQ:BETS) shares plummeted by 37% to $0.022 after announcing a registered direct offering of $12.0 million worth of Class A ordinary shares and warrants. The offering includes 184,615,385 shares at $0.065 each, with Class D and E warrants exercisable at $0.06 and $0.13 respectively. The deal is expected to close around December 8, with Maxim Group LLC as the placement agent. Additionally, Bit Brother received a Certificate of Occupancy for its new cryptocurrency mining farm in Texas, planning to start operations in early 2024 with a goal of producing 12 Bitcoin per month.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 5:01 pm

SVFD

Save Foods, Inc. (NASDAQ:SVFD) stock surged after announcing its entry into the U.S. carbon credit market through its majority stake in Nitrousink Ltd., a company focused on reducing nitrous oxide emissions. The news triggered heavy trading of SVFD shares, with volume exceeding 39.7 million compared to the 100-day average of 16 thousand shares. The company's stock price soared by 200% to $6.44.

Portfolio Pulse from Erica Kollmann

December 07, 2023 | 4:53 pm

SVFD

Save Foods, Inc. shares have risen following the announcement that the company is targeting the US carbon credit market after acquiring majority ownership in Nitrousink Ltd.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 4:53 pm

DOGEUSD

The DOGE-1 Moon Mission, funded by Dogecoin (CRYPTO: DOGE), has received FCC approval and is scheduled to launch on January 12, 2024. The mission will include a Dogecoin-funded satellite developed by Geometric Energy Corporation, which also issues the GEC token. The XI token was used for satellite advertisements. The mission, originally planned for 2022, will be part of a rideshare on the Nova-C/IM-1 mission. GEC and XI tokens have seen significant price surges and trading volume increases.

Portfolio Pulse from Khyathi Dalal

December 07, 2023 | 4:41 pm

RIVN

Rivian Automotive Inc. (NASDAQ: RIVN) shares are on the rise after Stifel initiated coverage with a Buy rating and a $23 price target. Analyst Stephen Gengaro highlighted the upcoming R2 line from Rivian's new facility with a 400,000-unit capacity, targeting the largest U.S. vehicle segment. Positive factors include brand awareness, a 100,000-EDV deal with Amazon, and expected margin expansion from 2024. Rivian's CFO discussed a new, cost-effective battery pack for R1 EVs and projected gross margin positivity in 2024. RIVN stock has increased over 10% in the past five days.

Portfolio Pulse from Erica Kollmann

December 07, 2023 | 4:37 pm

GMS

GMS Inc (NYSE:GMS) reported a slight decline in Q2 FY24 net sales, down 0.7% Y/Y to $1.42 billion, but beat consensus estimates. Adjusted EPS was $2.30, also above consensus. The company faced deflationary steel pricing and reduced single-family demand, but saw growth in multi-family and commercial sectors. Gross profit and operating income declined, as did adjusted EBITDA. GMS repurchased shares and improved net debt leverage. The CEO anticipates growth in multi-family construction and stable commercial demand, with potential improvement in single-family activity due to easing mortgage rates.

Portfolio Pulse from Akanksha Bakshi

December 07, 2023 | 4:35 pm

YTEN

Yield10 Bioscience has been granted a Notice of Allowance for its U.S. patent application 17/498,240, which covers 'Plants with Enhanced Yield and Methods of Construction'. This step is significant as it moves the company closer to securing a patent for its agricultural biotechnology that aims to increase plant yield.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 4:08 pm

AMZN

PYPL

Amazon.com Inc (NASDAQ:AMZN) will discontinue accepting Venmo, owned by PayPal Holdings Inc (NASDAQ:PYPL), for subscriptions starting January 2024. Customers using Venmo must switch to other payment methods on Amazon. Venmo's debit and credit cards will still be usable on Amazon accounts. The decision could influence other e-commerce platforms' payment options.

Portfolio Pulse from Michael Cohen

December 07, 2023 | 4:05 pm

KMDA

Kedrion Biopharma has extended its exclusive distribution agreement with Kamada Ltd. for KEDRAB®, a Human Rabies Immune Globulin (HRIG), in the U.S. for another eight years starting January 2024. The agreement also includes potential expansion of distribution in additional territories beyond the U.S. and collaboration to expand distribution of Kedrion products in Israel. KEDRAB® is part of the post-exposure prophylaxis for rabies, a significant public health concern globally and in the U.S., where an estimated 60,000 Americans receive treatment annually. The CEOs of both companies expressed confidence in the partnership's continued success in the U.S. market.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 4:02 pm