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PDD

PDD Holdings Inc's Temu is challenging U.S. dollar stores by capturing nearly 17% of the U.S. market share in discount stores, trailing behind Dollar General and Dollar Tree. Temu's growth has boosted PDD's revenue and stock performance, leading to commendation from Alibaba's Jack Ma and Morgan Stanley choosing PDD as its top pick in China's e-commerce sector. Dollar General and Dollar Tree are facing operational challenges and market share declines, with Dollar General reducing its annual profit forecast three times this year. Temu's success is attributed to consumer fatigue with high prices and its direct-to-consumer model that benefits from duty-free entry of shipments under $800 into the U.S.

Portfolio Pulse from Anusuya Lahiri

December 07, 2023 | 2:06 pm

NVVE

Nuvve Corporation reported the addition of 81 chargers to its Vehicle-to-Grid (V2G) platform in the first two months of Q4. This expansion indicates the company's growth in the V2G sector, which may influence investor sentiment and the company's stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:05 pm

ASLE

AerSale's stock is trading higher following the announcement that the FAA has granted a Supplemental Type Certificate for AerAware, the company's Enhanced Flight Vision System designed for the Boeing B737NG series.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:04 pm

NVVE

Nuvve Corporation reported a record month and quarter for the deployment of their charging stations. In the first two months of Q4 2023, Nuvve added 81 chargers to its Vehicle-to-Grid (V2G) platform, a significant increase from the 18 chargers added in the same period of the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:03 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) has announced a definitive merger agreement to acquire SYNQ3 Restaurant Solutions, aiming to become the largest voice AI provider for restaurants. The deal, valued at $25M over three years with potential additional consideration based on revenue targets, will expand SoundHound's market reach to over 10,000 restaurant locations. The merger combines SoundHound's AI innovation with SYNQ3's industry expertise, offering a broad suite of AI products and enhancing AI models with data from over 50 million interactions. The transaction is expected to close in the first quarter of next year, with further details to be provided in SoundHound's fourth quarter 2023 earnings call.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:01 pm

GETY

Getty Images has renewed its agreement with the International Olympic Committee to capture indoor sports angles. This partnership ensures continued coverage of Olympic events by a leading visual media company.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:58 pm

LZM

Lifezone Metals Limited (NYSE:LZM) announced a significant increase in resources at its Kabanga Nickel Project in Tanzania following successful drilling programs and updated mineralization interpretation. The Measured and Indicated Resources increased by 69%, and Inferred Resources by 20%. The company's CEO, Chris Showalter, highlighted the project's potential as a low-cost, long-life producer of nickel, copper, and cobalt, essential for the green energy transition. The Definitive Feasibility Study is expected to be completed by Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:47 pm

BCLI

BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI) announced a productive meeting with the FDA regarding NurOwn, its ALS treatment. The meeting focused on a Special Protocol Assessment (SPA) for a Phase 3b trial, aiming to secure FDA agreement on trial design elements critical for future marketing approval. BrainStorm will submit documentation for the SPA, and the company's CEO expressed commitment to advancing NurOwn's regulatory path.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:41 pm

GDOT

MA

MSFT

PYPL

The fintech industry anticipates significant changes in 2024, with AI integration in financial services, expansion of banking-as-a-service (BaaS), preparation for Payment Services Directive 3 (PSD3), and increased regulatory scrutiny following the collapse of Silicon Valley Bank. Companies to watch include Microsoft in partnership with OpenAI for AI advancements, Green Dot Corporation for BaaS, and Mastercard and PayPal regarding PSD3.

Portfolio Pulse from Neil Dennis

December 07, 2023 | 1:41 pm

NVTS

Navitas Semiconductor (NASDAQ:NVTS) has announced that its GaNFast power ICs with GaNSense technology are featured in NIO's new smartphone, the NIO Phone, which offers 66 W fast charging and seamless integration with NIO's electric vehicles. The phone includes a Qualcomm Snapdragon 8 Gen 2 chip, a 6.81-inch 2K screen, and can control over 30 car functions, potentially replacing car keys. Navitas' ICs contribute to the phone's lightweight and efficient charging experience, marking a collaboration between Navitas, NIO, and TenPao, the manufacturer of the NIO Phone charger.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:39 pm