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NIO

Nio Inc (NYSE:NIO) has partnered with Chongqing Changan Automobile Co. to develop battery swapping technology for electric vehicles (EVs). The collaboration will cover vehicle ownership, battery technologies, maintenance services, and financing solutions. Changan Auto's chairman suggested the partnership could expand to vehicle development. Nio's 'battery-as-a-service' program, launched in 2020, aims to reduce upfront costs for customers. Nio plans to have 1,000 battery swapping stations by year-end, with over 2,000 already in China. Nio's CEO announced a 10% staff reduction and potential spin-offs to improve finances, as the company has not met sales targets and operates at a loss. NIO shares dropped 1.03% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 3:11 pm

RIO

Rio Tinto has partnered with Aymium to develop and trial a renewable biocarbon product aimed at reducing emissions in industrial processes. The product has been successfully tested at Rio Tinto's Sorel-Tracy complex. Rio Tinto has made a further equity investment in Aymium, following an initial investment in 2022, to support its 2030 emission reduction targets. The partnership will explore large-scale production options for the biocarbon product. Both companies are committed to decarbonizing operations and supply chains, with Aymium focusing on transitioning away from fossil fuels.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:02 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is planning to expand its operations in India by exporting cars next year and establishing a $2 billion manufacturing facility within two years. Potential factory locations include Gujarat, Maharashtra, and Tamil Nadu. The company aims to produce some batteries locally and increase auto parts purchases from India to $15 billion. Tesla's entry into India could significantly impact the local EV sector. The company is also considering producing and selling battery storage systems in India. CEO Elon Musk is expected to visit India in 2024. TSLA shares were up 0.51% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 3:00 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has strengthened its AI industry position by acquiring former OpenAI CEO Sam Altman. Microsoft's stock has increased by 55% over the year and is approaching the significant $400 level. The stock closed with a gain of over 2% and ended at $377.44 after the closing bell on November 20, indicating a potential long-term upward trend.

Portfolio Pulse from Zaheer Anwari

November 21, 2023 | 2:54 pm

PLTR

The UK's National Health Service (NHS) has awarded Palantir Technologies a contract to manage patient data. The contract involves an investment of up to £330 million in the Federated Data Platform and associated services over a period of seven years, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:41 pm

GEHC

GE Healthcare has introduced a new version of Digital Expert Access, which is the first FDA 510(k)-cleared device that allows for remote patient scanning. Additionally, GE Healthcare has entered into an exclusive distribution agreement with IONIC Health to enhance its portfolio with multi-vendor, multi-modality remote scanning capabilities.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:31 pm

MOR

MorphoSys AG's stock (NASDAQ:MOR) is trading lower after releasing Phase 3 MANIFEST-2 study results for pelabresib in combination with ruxolitinib for myelofibrosis treatment. The study met its primary endpoint, showing a significant reduction in spleen volume. However, secondary endpoints related to symptom improvement showed a positive trend but did not reach statistical significance. MorphoSys plans to submit regulatory applications for pelabresib in mid-2024. MOR shares dropped 20.14% in premarket trading.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 2:28 pm

WRAP

Wrap Technologies, Inc. (NASDAQ:WRAP) is experiencing increased deployments of its BolaWrap 150 Remote Restraint device, which is being recognized for its non-lethal approach to law enforcement situations, including mental health crises. The device's adoption is part of a shift towards de-escalation and empathy in policing, with positive feedback from law enforcement agencies like the Hawthorne Police Department.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:24 pm

HUT

US Bitcoin Corp (USBTC) stockholders have approved a business combination with Hut 8 Mining Corp. (NASDAQ:HUT). The merger, expected to close by November 30, 2023, will create a new entity, Hut 8 Corp. ('New Hut'), to be listed on Nasdaq and the Toronto Stock Exchange under the ticker 'HUT'. The combined company will focus on economical mining, diversified revenue streams, and ESG practices, expanding into high performance computing, hosting, and managed infrastructure operations.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:23 pm

NVO

The European Medicines Agency (EMA) has announced that Novo Nordisk has informed them of expected intermittent shortages of Ozempic throughout 2024. Ozempic, which contains the active substance semaglutide, is anticipated to be in short supply due to increased global demand.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:21 pm