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Alibaba Group Holding Limited (NYSE:BABA) is undergoing business restructuring, including closing its quantum computing research lab and donating the equipment to Zhejiang University. The move affects about 30 staff members and marks a shift from advanced technology research to cost-cutting. Alibaba co-founder Jack Ma has started a new venture, 'Hangzhou Ma's Kitchen Food,' focusing on pre-packaged food. Alibaba's workplace app, DingTalk, is being updated to support Huawei's HarmonyOS, with a partnership that aligns with other Chinese tech giants like JD.com Inc (NASDAQ:JD) and Meituan (OTC:MPNGF) (OTC:MPNGY) developing apps for HarmonyOS. BABA shares traded slightly lower in premarket.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 10:35 am

NVO

Novo Nordisk is currently in discussions with healthcare systems regarding flexible pricing models for its Wegovy weight loss drug, as reported by the Financial Times on Sunday.

Portfolio Pulse from Charles Gross

November 27, 2023 | 10:15 am

GSK

GSK announced positive results from the DREAMM-7 Phase 3 trial of Belantamab Mafodotin for relapsed or refractory multiple myeloma, meeting its primary endpoint of progression-free survival. The treatment, combined with bortezomib and dexamethasone, showed a significant extension in time to disease progression or death compared to the standard of care, daratumumab with BorDex. Additionally, a notable overall survival trend was observed.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 10:12 am

ADBE

CRM

SHOP

Shopify Inc (NYSE:SHOP) merchants achieved a record $4.1 billion in Black Friday sales, a 22% increase from last year. Sales peaked at $4.2 million per minute at 12:01 p.m. EST. Popular categories were clothing, personal care, and jewelry, with an average spend of $110.71 per cart. The U.S., U.K., and Canada were top countries, with Los Angeles, New York, and London as top cities. International orders comprised 15% of total sales. Shopify's POS system sales rose by 33%. Adobe Inc (NASDAQ:ADBE) reported a 5.5% increase in U.S. online spending on Thanksgiving, while Salesforce, Inc. (NYSE:CRM) reported a 1% growth in U.S. global online sales. SHOP shares closed down 0.86% at $70.35 on Friday.

Portfolio Pulse from Anusuya Lahiri

November 27, 2023 | 10:01 am

TSLA

Israeli Prime Minister Netanyahu is set to meet with Elon Musk on Monday to discuss the security aspects of AI and have a live online discussion. Additionally, an agreement in principle has been reached to allow Starlink communications in the Gaza Strip.

Portfolio Pulse from Charles Gross

November 27, 2023 | 10:00 am

TSLA

A Tesla Model S owner faced a $19K battery replacement bill after 163,000 miles, warning EV drivers to save unspent gas money for such unexpected costs. The story highlights potential hidden costs of EV ownership despite gas savings. Tesla's sales have plateaued amid various challenges, including range concerns and a reported manipulation of vehicle range, putting pressure on profits. Tesla's stock closed slightly up at $235.45.

Portfolio Pulse from Shanthi Rexaline

November 27, 2023 | 9:49 am

TSLA

The weekend featured a mix of political controversy and technological developments. Mary Trump criticized Donald Trump, while Marjorie Taylor Greene supported Jan. 6 insurrectionists. Elon Musk teased a new Starship design for SpaceX and excitement grew for Tesla's (NASDAQ:TSLA) upcoming Cybertruck launch. Wall Street experienced a week of gains with no new rate hikes indicated by the Federal Reserve.

Portfolio Pulse from Benzinga Neuro

November 27, 2023 | 9:45 am

IGMS

Medivir has announced a revised formulation of Fostrox, which is key for a planned study aimed at obtaining accelerated approval for the treatment in the second line for Hepatocellular Carcinoma.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:13 am

DNA

Vivici BV has partnered with Ginkgo Bioworks to enhance the production of sustainable and nutritious dairy protein through precision fermentation. Ginkgo will leverage its Protein Production Services and generative AI platform to provide optimal candidate strains for Vivici, which will help extend their protein range and support specialized nutrition companies in delivering eco-friendly nutrition options to consumers.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:07 am

XPEV

XPeng Aeroht, affiliated with Xpeng Inc (NYSE:XPEV), demonstrated its X2 flying car's multi-parachute rescue system, which can safely land the vehicle with up to a ton of cargo in case of propeller failure. The system activates at 50 meters above ground, allowing a safe landing at 5.2 m/s. The X2, which had its initial flight in October 2022, is a two-seater flying car with manual and autonomous modes, aimed for use in urban environments. XPeng plans mass production and customer deliveries by 2024.

Portfolio Pulse from Anan Ashraf

November 27, 2023 | 8:39 am