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EADSY

Airbus SE's subsidiary AALTO HAPS Ltd. is developing high-altitude, solar-powered drones in Kenya to provide communication services and earth observation. The Zephyr aircraft can stay airborne for days and will operate from global bases, starting with Kenya. These drones offer detailed remote observation and connectivity, especially in remote areas. AALTO plans to start operations next year and serve customers from Q3, potentially creating up to 1,000 jobs. The drones operate at a lower altitude than SpaceX's satellite networks.

Portfolio Pulse from Nabaparna Bhattacharya

December 01, 2023 | 5:49 pm

ZUMZ

Zumiez Inc. stock is trading higher following the announcement of third-quarter results that surpassed expectations. Additionally, the company provided fourth-quarter sales guidance that exceeded analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 5:46 pm

LMNR

Shares of Limoneira Co (NASDAQ: LMNR) are surging after the company's Board of Directors initiated a process to explore strategic alternatives to maximize shareholder value. These alternatives could include a sale, merger, or other transactions. Stephens Inc and Squire Patton Boggs have been retained as financial and legal advisors, respectively. Despite a strong financial position with reduced net debt, the company's Q3 revenue declined, with significant drops in lemon and avocado sales due to supply chain and inflationary pressures. No timeline for the strategic process has been provided, and there's no assurance of a definitive outcome. LMNR shares rose 18.52% to $18.02.

Portfolio Pulse from Shivani Kumaresan

December 01, 2023 | 5:33 pm

GCT

GigaCloud Tech's stock price is on the rise after the company reported Q3 sales that surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 5:33 pm

EGRNF

Evergrande Group (OTC: EGRNF) is in urgent talks with major foreign creditors to avoid the liquidation of its offshore businesses. The company is offering creditors about 20% ownership in its parent company to comply with Chinese regulatory demands, which include no new debt issuance. Discussions with Dubai-based NWTN about investing in Evergrande's EV division are ongoing, following a paused $500 million investment for a 28% stake in Evergrande Auto. The company's default in late 2021 has been a focal point in China's real estate crisis.

Portfolio Pulse from Vandana Singh

December 01, 2023 | 5:25 pm

AMZN

Beta Technologies, an electric aerospace company backed by Amazon.com Inc (NASDAQ:AMZN), is expanding in New York with a $41 million investment in Plattsburgh International Airport. The expansion is supported by a $20 million state grant and aligns with New York's zero-emission vehicle investment. It will create 85 jobs and establish a manufacturing and assembly hub for electric aircraft. Beta's recent achievements include a 1,730-mile flight and delivering its first product to the U.S. Air Force. The hybrid aircraft market is expected to grow significantly by 2030.

Portfolio Pulse from Anusuya Lahiri

December 01, 2023 | 5:11 pm

SPY

Federal Reserve Chair Jerome Powell noted that consumer spending has remained 'surprisingly strong' but also pointed out that increased credit card use and defaults could indicate a slowdown in spending. He mentioned that as long as unemployment stays low and wages continue to rise, some level of consumer spending is likely to persist.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 5:03 pm

HMC

American Honda reported a 33% increase in sales for November, with a total of 106,035 units sold.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 4:32 pm

ESTC

IOT

MARA

PATH

ULTA

Ulta Beauty, Inc. (ULTA) shares surged by 10.8% to $471.97 after reporting strong third-quarter sales and raising its full-year profit and sales forecasts. CFO Scott Settersten announced his retirement effective April 1, 2024. Other stocks also moved higher, including Elastic N.V. (ESTC), UiPath Inc. (PATH), and Samsara Inc. (IOT), following positive financial results and guidance. Stocks like GigaCloud Technology Inc. (GCT), CleanSpark, Inc. (CLSK), and Marathon Digital Holdings Inc. (MARA) also saw gains, with MARA benefiting from a surge in Bitcoin prices.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 4:02 pm

LVO

LiveOne's music publishing subsidiaries Splitmind and Drumify have reported a 300% increase in revenues in 2023. Splitmind, founded by Aidan Crotinger, has produced for major artists and achieved over 3 billion streams globally. It boasts a catalog of over 50,000 copyrights on Drumify.com. LiveOne (NASDAQ:LVO), the parent company, acquired Splitmind in 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:37 pm