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DBCCF

Decibel Cannabis Co Inc (OTCQB:DBCCF) reported a 65% year-over-year growth in net revenue for Q3 2023, reaching CA$30.2 million, driven by demand for vapes and cannabis-infused products. Despite the revenue growth, net income declined sharply to CA$413 thousand from CA$5.2 million in Q3 2022. Adjusted EBITDA increased by 57% to CA$6.7 million. The company faced challenges such as a decrease in gross margin and increased labor costs. Decibel's stock was trading 3.02% lower at $0.1042 per share.

Portfolio Pulse from Patricio Liddle

November 16, 2023 | 6:25 pm

AMZN

HYMTF

Amazon plans to enter the online vehicle sales market in the U.S. by partnering with Hyundai to start selling cars online in 2024. This move could potentially disrupt the traditional car sales model and positions Amazon as a significant player in the automotive retail space.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:07 pm

AMZN

HYMTF

Hyundai and Amazon have announced a partnership that includes the launch of online vehicle sales on Amazon.com, starting with Hyundai in 2024. This initiative aims to make it easier for customers to purchase vehicles and pick them up from local dealers. Additionally, Hyundai has selected Amazon Web Services (AWS) as its preferred cloud provider to assist in the digital transformation of its operations, production, and customer services. The collaboration will also integrate Alexa Built-in into Hyundai's next-generation vehicles, enhancing the in-car experience.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:06 pm

CBSTF

The Cannabist Company Holdings Inc. is launching two flower brands, Seed & Strain and Classix, in Florida. Classix will be available from Nov. 20 at all 14 Cannabist locations in Florida, while Seed & Strain will debut on Nov. 28. Florida is the 15th market for both brands. The company's shares traded slightly lower at $0.3865 per share on Thursday morning.

Portfolio Pulse from Jelena Martinovic

November 16, 2023 | 6:02 pm

ETHUSD

On Wednesday, 7,430.36 Ether (ETH) valued at approximately $14.9 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -8.29% yesterday.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 6:00 pm

MSFT

Analysts from Wedbush, Oppenheimer, and Mizuho Securities are bullish on Microsoft Corp's AI expansion, particularly with its Copilot functionality. Wedbush raised the price target from $400 to $425, predicting significant adoption and a potential $20 billion revenue addition by FY25. Microsoft's AI and cloud services are expected to drive growth and margins in FY24 and FY25. Early Copilot users report a 29% increase in task efficiency. Mizuho highlighted Microsoft's upcoming custom silicon chips for AI and cloud, maintaining a Buy rating and a $420 price target. Microsoft shares traded higher by 1.50% at $375.16.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 5:46 pm

AMZN

MSFT

Amazon is expanding its 'Buy with Prime' program and lobbying against Microsoft's Azure cloud service to prevent customer lock-in. Amazon's Project Kuiper has successfully tested two satellites, aiming for a global broadband service to compete with SpaceX's Starlink. Despite these initiatives, AMZN shares saw a slight decrease.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 5:37 pm

GOEV

Canoo has secured a contract with Prime Time Shuttle for the purchase of up to 550 electric vehicles. Prime Time Shuttle will acquire the Lifestyle Vehicle Premium Model over several years to enhance its sustainable fleet.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:34 pm

SWTX

SpringWorks Therapeutics Inc (NASDAQ:SWTX) reported positive Phase 2b ReNeu trial results for mirdametinib in treating NF1-associated plexiform neurofibromas, with over 50% pediatric and 41% adult patients showing objective responses. Despite the promising results, SWTX shares fell 6.39% to $20.66, as the market reaction was not favorable. The company plans to submit a New Drug Application to the FDA in the first half of 2024.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 5:30 pm

MRK

The FDA's Pulmonary-Allergy Drugs Advisory Committee is set to review Merck & Co's (NYSE:MRK) gefapixant, a drug for chronic cough. The FDA previously declined approval due to concerns after Merck submitted additional efficacy data. The drug has been approved in the EU and Japan. FDA documents show gefapixant's modest efficacy and high discontinuation rates due to taste-related side effects. The committee will discuss if the benefits are clinically meaningful. MRK shares are slightly down.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 5:26 pm