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BABA

BIDU

Alibaba Group Holding Limited (NYSE:BABA) shares have declined over 9% in January. The drop is partly attributed to broader market concerns following a report that Baidu, Inc.'s (NASDAQ:BIDU) AI platform is being tested by a university with ties to the Chinese military. Alibaba is also beta testing new AI tools for merchants. BABA's stock is trading below its 50-day moving average and its 52-week high. The company has a forward P/E ratio of 7.37, lower than its peers' average of 21.37, and has shown an average annual revenue growth of 20.74% over the past 5 years.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 5:45 pm

AAPL

Apple Inc (NASDAQ:AAPL) stock is trading lower after the company announced a price cut for iPhones in China to boost demand. The discount of up to 500 yuan ($70) is part of a Lunar New Year promotion. Early sales of iPhone 15 models in China are reportedly worse than previous models due to competition and government restrictions. The U.S. Supreme Court also declined Apple's appeal in the Epic v. Apple antitrust case. Meanwhile, Apple previewed its new Apple Vision Pro, launching on Feb. 2, featuring advanced technology for immersive entertainment experiences.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 5:44 pm

ELAB

INMB

Elevai Labs, Inc. (NASDAQ:ELAB) stock is trading higher after announcing an exclusive worldwide licensing agreement with INmune Bio, Inc. (NASDAQ:INMB) to use INmune Bio's EMx technology for manufacturing hucMSCs. This technology allows Elevai to produce these cells more cost-effectively than purchasing them, which can be used in certain licensed topical cosmetic products. The agreement includes an initial deposit, a final tech transfer fee, and a nominal royalty on sales of products made using the technology.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 5:41 pm

F

Ford plans to start production of the electric Explorer in June, with first deliveries in August, after an eight-month delay. The delay was due to a new battery standard. Ford's second EV, also based on VW's platform, is expected by the end of 2024. The Cologne factory was upgraded for $2 billion for EV production. Ford aims to sell 600,000 EVs annually in Europe by 2026 and go all-electric by 2035. The electric Explorer will start under $50,000. Ford also confirmed an electric three-row SUV for the US and a next-gen electric pickup, the T3 project. Ford's next-gen EV platform is due in 2025.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:37 pm

AUVI

Applied UV, Inc. (NASDAQ:AUVI) shares dropped on Tuesday after the company announced strategic investments in LED Supply Co., which are expected to yield $10 million in sales in 2024. With $3 million in orders already received, AUVI anticipates these sales will help drive the company towards positive cash flow. The CEO highlighted the benefits of recent acquisitions in the Smart Building Technologies Division. AUVI also plans to launch its Fighter Flex LED solution at the AHR Expo and has partnered with Silver Cross Hospital to implement Far-UVC Puro Protect 222nm fixtures. Despite these developments, AUVI shares fell by 16.60% to $3.17.

Portfolio Pulse from Nabaparna Bhattacharya

January 16, 2024 | 5:26 pm

MS

Morgan Stanley's head of digital assets, Andrew Peel, warns of the U.S. dollar's declining global dominance due to the rise of digital assets like Bitcoin and CBDCs. He cites the approval of Bitcoin ETFs and the global adoption of Bitcoin as factors, along with the potential of CBDCs to enable rapid cross-border payments without the dollar. Peel also highlights the significance of stablecoins in reshaping international finance.

Portfolio Pulse from Murtuza Merchant

January 16, 2024 | 5:17 pm

GME

GameStop Corp (NYSE:GME) is closing its NFT marketplace due to ongoing regulatory uncertainty in the crypto space. The platform, which supported gaming NFTs and collectibles on Ethereum scaling networks Immutable X and Loopring, will cease operations on February 2, 2024. GameStop had previously terminated its NFT wallet four months earlier for similar reasons. The company had ventured into the cryptocurrency space in January 2022 but announced a reduced focus on the industry in December 2022. The former CFO resigned in August 2022 during a reevaluation of GameStop's crypto initiatives.

Portfolio Pulse from Franca Quarneti

January 16, 2024 | 5:12 pm

MSFT

At the World Economic Forum, Microsoft CEO Satya Nadella discussed the rapid advancement and potential of AI in various sectors, emphasizing the need for responsible governance and global regulation to ensure equitable benefits. He also spoke on stakeholder capitalism, highlighting the importance of corporations addressing societal and planetary challenges profitably.

Portfolio Pulse from Piero Cingari

January 16, 2024 | 5:08 pm

BLBD

Blue Bird Corporation (NASDAQ:BLBD) received a record order of 180 electric school buses from the Los Angeles Unified School District (LAUSD), marking the company's largest single order from a school district. The order includes 150 All American and 30 Vision model buses, with delivery expected in October 2024. This move aligns with LAUSD's goals to reduce greenhouse gas emissions and improve operational efficiencies. Blue Bird's electric buses feature vehicle-to-grid (V2G) capability, potentially allowing LAUSD to sell excess energy back to power companies. Blue Bird has delivered 1,500 electric buses across 41 states and is expanding its production capacity to meet the growing demand for zero-emission vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:05 pm

LBPH

Cantor Fitzgerald has reaffirmed its Overweight rating on Longboard Pharmaceuticals (NASDAQ:LBPH) and increased its price target from $55.00 to $60.00. Despite a slight decline in share price over the last 24 hours, the new price target suggests a potential upside of 156.96% from the current price of $23.35. Longboard Pharmaceuticals is a clinical-stage biopharmaceutical company developing medicines for neurological diseases, with a focus on selective G protein-coupled receptors (GPCRs).

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 5:00 pm