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PGY

Pagaya Technologies LTD. (NASDAQ:PGY) has closed its fourth auto asset-backed securitization (ABS) deal of 2023, named RPM 2023-4, bringing its total auto issuance to $1.4 billion and overall ABS transactions to $6.3 billion for the year. The deal, rated by Kroll Bond Rating Agency, includes loans from a top 4 US auto captive and reflects Pagaya's growing network and investor demand. Pagaya's AI-driven financial products have attracted over $18 billion in ABS transactions since 2018, with a network of 90+ institutional investors.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:38 pm

BMY

PFE

PINC

Wall Street's most accurate analysts recommend holding three health care stocks with over 4% dividend yields: Pfizer Inc. (PFE), Bristol-Myers Squibb Company (BMY), and Premier, Inc. (PINC). Analysts from Morgan Stanley and Wells Fargo have maintained Equal-Weight ratings on PFE with reduced price targets. BMY saw a downgrade from BMO Capital to Market Perform and an upgrade from HSBC to Hold, with adjusted price targets. PINC maintained Neutral ratings from JP Morgan and UBS, with lowered price targets. Recent news includes FDA approvals for Pfizer's Xtandi and Bristol Myers Squibb's Augtyro, and Premier's upbeat earnings for Q1.

Portfolio Pulse from Lisa Levin

November 27, 2023 | 1:37 pm

GNE

Genie Energy Ltd.'s subsidiary, Sunlight Energy Investments, has acquired a portfolio of 12 operating solar arrays totaling 9.4 MW-DC from a project developer. These arrays, located in Ohio and Michigan, have long-term fixed-price PPAs with school facilities. The acquisition is expected to be immediately accretive to Genie Energy's bottom line. Sunlight Energy, which is primarily financed by Genie Energy, also obtained the right of first refusal on future projects from the developer.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:36 pm

ADBE

AFRM

PYPL

SPY

SQ

Adobe's 'Buy Now Pay Later' feature is projected to reach a record high in usage during Cyber Monday in the US, with an expected contribution of $782 million to online spending, marking an 18.8% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:35 pm

HTCR

HeartCore Enterprises, Inc.'s subsidiary Sigmaways has launched Psyche60s, a virtual reality experience aimed at combining entertainment with education. The project utilizes advanced technologies like Unity, Unreal Engine, Adobe Generative AI, Nvidia computing, and ChatGPT. HeartCore's CEO highlighted Sigmaways' role in the company's growth strategy and its potential for strategic partnerships in the education sector. Psyche60s is available on Oculus, SideQuest, Steam, Google Play, and the App Store.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:34 pm

INBS

Intelligent Bio Solutions Inc. (NASDAQ:INBS) has announced that State Road Constructions in Australia has chosen its Intelligent Fingerprinting Drug Screening System for workplace drug testing. This system, which uses fingertip sweat to detect drugs, offers a non-invasive and rapid solution for maintaining safety and compliance with health policies. The system is portable and aligns with State Road's focus on operational efficiency and respectful workplace practices.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:33 pm

ARCT

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) has received Orphan Drug Designation from the U.S. FDA for ARCT-032, a treatment for cystic fibrosis. This designation provides various incentives and is a key regulatory milestone. The first patient in a Phase 1b study has completed two administrations of ARCT-032, with interim data expected in H1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:32 pm

EVOK

Evoke Pharma, Inc. announced that its new patent for GIMOTI nasal spray is now listed in the FDA's Orange Book, extending patent protection to 2029. This listing adds to the existing three patents for GIMOTI and reinforces the company's IP portfolio. The Orange Book listing aids in monitoring potential generic competition.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:32 pm

MULN

Mullen Automotive Inc. (NASDAQ:MULN) and Rapid Response Defense Systems (RRDS) have filed responses for a U.S. Customs and Border Protection application regarding Mullen's Class 1 EV cargo van. The application details the substantial transformation of the vehicle to meet U.S. standards, which could classify it as a U.S.-made product. The assembly process occurs in Mullen's Mississippi facility, employing 103 individuals, with the company employing around 400 nationwide. Mullen sources globally but is adding domestic suppliers to its supply chain. A successful ruling, expected within 45 days, would affirm Mullen's commitment to the U.S. EV market. Mullen and RRDS will showcase the Mullen ONE EV cargo van at the Fed Fleet conference in Washington, D.C. in January 2024.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:31 pm

AZUL

SRFM

Surf Air Mobility Inc. (NYSE:SRFM) and Azul S.A. (NYSE:AZUL) have entered into an agreement to incorporate electric powertrains into Azul's Cessna Caravan fleet. The collaboration aims to develop Surf Air Mobility's proprietary electric powertrain technology in Brazil, with a focus on meeting regulatory requirements and achieving certification by 2026. Azul's goal is to reach net-zero carbon emissions by 2045, and the electrification of its fleet is a step towards this. The partnership is expected to reduce operating costs by 50% and eliminate carbon emissions for the aircraft, potentially improving the economics of Azul's routes and enabling new routes.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:21 pm