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BNY Mellon Corp (NYSE:BK) and Lunate are investing in a new company, Alpheya, to create a wealth management technology platform for the Middle East and North Africa. Alpheya will be based in ADGM with a $300 million capital commitment and is set to start in 2024. BNY Mellon holds a minority share in Alpheya. The company aims to meet the increasing demand for digital wealth management services in the region. BNY Mellon recently reported a Q3 FY23 revenue increase of 2% Y/Y to $4.37 billion, surpassing estimates, with an adjusted EPS of $1.27. BK shares saw a slight increase of 0.21% to $47.22.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 4:27 pm

CBSTF

The Cannabist Company Holdings Inc. (OTCQX:CBSTF) has partnered with Airo Brands to bring Airo's cannabis vaporization products to The Cannabist Company's dispensaries in Delaware. The collaboration will introduce AiroPro, AiroSport, AiroX Disposable, and AiroPod cartridge oil formulations, including Strain Series, Artisan Series, and Live Flower Series. The products will be available in the company's wholesale channels soon and are expected to expand to other states pending regulatory approval.

Portfolio Pulse from Jelena Martinovic

November 21, 2023 | 4:06 pm

MARK

MSFT

Remark Holdings announced via Twitter that its AI product, RemarkAI, is getting ready for launch and has been certified for publication to the Microsoft 365 App Store. The tweet included a screenshot confirming the certification.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:03 pm

AAPL

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The Market Clubhouse Morning Memo provides daily trade strategies for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula considering price, volume, and options flow. The memo outlines potential support and resistance levels for each asset, suggesting possible breakouts or reversals. Key events to watch include the FOMC meeting minutes and NVIDIA's earnings report, which may increase market volatility. The memo is part of a service offering by RIPS, a professional trader, who provides insights and real-time mentorship to Market Clubhouse members.

Portfolio Pulse from RIPS

November 21, 2023 | 3:58 pm

Ford Motor Company is scaling back its plans for a $3.5 billion battery plant in Michigan due to disappointing electric vehicle (EV) demand and rising labor costs. The production capacity is being cut by approximately 43% to 20 gigawatt hours per year, and the expected employment is being reduced from 2,500 to 1,700 jobs.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:52 pm

WWW

Wolverine World Wide, Inc. has licensed its sock business to Renfro Brands, with the transition effective January 1, 2024. From that date, all Wolverine socks will be exclusively manufactured by Renfro Brands.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:46 pm

AAPL

DWAC

SPY

Donald Trump's 2014 tweet about selling his Apple stock due to the iPhone's screen size proved to be poor investment advice. Since then, Apple's stock has significantly outperformed the market, with a $1,000 investment in Apple growing to $11,846.93, a 1,084.7% return, compared to a 201.6% return from the same investment in the SPDR S&P 500 ETF Trust. Trump, who now posts on Truth Social, a company merging with Digital World Acquisition Corporation, was recently unbanned from Twitter but has only posted once since 2021.

Portfolio Pulse from Chris Katje

November 21, 2023 | 3:42 pm

EPOW

Sunrise New Energy has announced its plans to build a carbon nanotube conductive additive plant in the United States, aiming to improve production efficiency and profitability. Carbon nanotubes are known to enhance the conductivity and reduce the cost of lithium-ion batteries. Additionally, EPOW is set to release its financial report for the first half of 2023 in December.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:33 pm

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Nvidia (NVDA) earnings are set to be released after market close and are expected to significantly impact the stock market due to Nvidia's role in AI advancements. Nvidia's stock has recently broken out and experienced a run-up, with positive positioning from Wall Street suggesting upward momentum if earnings meet high expectations. However, there's downside risk if earnings disappoint. Money flows are positive for Nvidia and Microsoft (MSFT), but negative for Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust (QQQ). Gold prices are above $2,000 with buying interest from the momo crowd, and the most popular gold and silver ETFs are GLD and SLV, respectively. Oil is inactive with the most popular ETF being USO. Bitcoin (BTC) is range-bound.

Portfolio Pulse from The Arora Report

November 21, 2023 | 3:26 pm

VINO

Gaucho Group Holdings has announced the addition of a third water well and a 3-million-liter lagoon at Algodon Wine Estates, which is expected to enhance the property's appeal, sustainability, and infrastructure. This development is anticipated to increase the real estate valuation of the property.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:24 pm