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BYDDF

GELYF

MBGAF

TSLA

Geely Automobile Holdings Ltd. (GELYF) has launched its electric vehicles in Malaysia, competing with Tesla (TSLA) and BYD (BYDDF). Geely introduced three models with prices ranging from $40,640 to $60,640, while Tesla's Model 3 and BYD's Atto are priced at $40,640 and $31,840 respectively in Malaysia. Pro-Net, partly owned by Geely, will distribute the Smart cars and aims for a 10% market share. Geely is also investing in an automotive city in Tanjung Malim. Mercedes Benz Group AG (MBGAF) has started local assembly of its EQS model in Malaysia. Geely's shares closed down 2.44% at $1.20.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 5:08 pm

BABA

BIDU

MSFT

NVDA

TCEHY

Baidu Inc (NASDAQ:BIDU) reported a 6% YoY revenue increase to 4.45 billion yuan in Q3, with shares rising 2%. Despite a challenging macroeconomic environment, Baidu's AI advancements, particularly with its Ernie bot, demonstrate resilience and competitiveness. Microsoft Corporation (NASDAQ:MSFT), with a 49% stake in Open AI, hired ousted Open AI staff, including Sam Altman, strengthening its AI position. Baidu, along with Alibaba (NYSE:BABA) and Tencent Holdings Limited (OTC:TCEHY), remains a key player in China's internet sector, with Tencent also navigating US chip export curbs. Nvidia Corporation (NASDAQ:NVDA) was mentioned in relation to AI chip supplies.

Portfolio Pulse from Upwallstreet

November 21, 2023 | 5:00 pm

DHI

LEN

PHM

TOL

XHB

Despite a slowdown in home sales and high interest rates, homebuilder stocks have outperformed the market in 2023. DR Horton, Lennar Corporation, Toll Brothers, and PulteGroup have seen significant gains. The SPDR Homebuilders ETF also rose. The sector's resilience is attributed to a strong desire for homeownership and limited housing supply. Supply chain issues persist, but housing starts are expected to increase as these ease. The sector's outlook for 2024 is cautiously optimistic, with potential risks from economic slowdown and labor market weakening.

Portfolio Pulse from Neil Dennis

November 21, 2023 | 4:43 pm

RXT

Rackspace Technology (NASDAQ:RXT) is set to participate in AWS re:Invent 2023, showcasing its generative AI applications from Foundry for AI by Rackspace. Celebrating twelve years at the event, Rackspace will have a booth with interactive AI and VR demonstrations, a breakout session with JobTarget, and networking events. The company highlights its strong partnership with AWS, boasting over 2,200+ AWS certifications and 16 AWS Competency designations, and aims to demonstrate its capabilities in enhancing business transformation and customer experiences through AI.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 4:29 pm

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

GOOGL

META

MSFT

NVDA

QQQ

SPY

TSLA

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