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SPOT

Spotify Inc. (NYSE:SPOT) is testing an AI feature that translates and mimics podcast hosts’ voices into various languages. The feature is part of Spotify's continued investment in the podcasting sector, despite the company's struggle to attain profitability. The company's podcast ad sales rose by €22 million ($23.3 million) in the first half of this year, with the second quarter ad revenue increasing 30% year over year.

Portfolio Pulse from Benzinga Neuro

September 26, 2023 | 1:32 am

UPST

Needham analyst Kyle Peterson initiated coverage on Upstart Holdings Inc (NASDAQ:UPST) with a Hold rating. Despite near-term funding challenges and a projected revenue decline of ~37% in FY23, Peterson sees significant long-term growth potential for UPST. He expects the company to add new bank/credit union partners and expand committed capital partnerships to drive growth in FY24 and beyond.

Portfolio Pulse from Lekha Gupta

September 25, 2023 | 7:19 pm

AMZN

NFLX

Amazon plans to add limited advertisements to Prime Video in 2024 and introduce an ad-free tier for an additional $2.99/month for U.S. Prime members. Analysts from Wedbush and Telsey Advisory Group have reiterated their 'Outperform' ratings for Amazon, with price targets of $180 and $160 respectively. They forecast incremental revenues from this move and do not expect significant membership churn.

Portfolio Pulse from Anusuya Lahiri

September 25, 2023 | 6:01 pm

BILI

Shares of Bilibili Inc - ADR (NASDAQ:BILI) are trading lower amid concerns over China's property sector, particularly the ongoing issues with China Evergrande. Bilibili, which generates a significant portion of its revenue from advertising, could be impacted by reduced consumer spending and companies cutting their advertising budgets due to economic uncertainty. This could also lead to a slowdown in user growth or engagement on Bilibili's platform.

Portfolio Pulse from Henry Khederian

September 25, 2023 | 5:45 pm

BEKE

Shares of KE Holdings Inc (NYSE:BEKE) are trading lower due to concerns over China's property sector, following reports that China Evergrande is unable to issue new debt due to an investigation into its Hengda Real Estate subsidiary. KE Holdings, an online real estate services provider, could see reduced transaction volumes and revenue due to instability in the property market.

Portfolio Pulse from Henry Khederian

September 25, 2023 | 4:49 pm

PRPO

Precipio, Inc. (NASDAQ:PRPO) has announced that it has reduced the revenue required from its products division to reach breakeven from $8M to $6M annually, or $1.5M per quarter, 25% below previous estimates. This is due to increased pathology revenue and recent operational efficiencies. The company anticipates reaching cash flow breakeven sooner due to increased pathology revenues, improved gross margins, and the impact of cost reduction initiatives.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 3:01 pm

AAPL

AMZN

BIIB

DLAKY

GOOG

NVS

PFE

RNAZ

TSN

WMT

Several significant business events have occurred. Ford of Canada has reached a collective agreement with Unifor union, including wage increases and pension improvements. Amazon has invested $4 billion in AI startup Anthropic. PhonePe, backed by Walmart, has launched the Indus AppStore Developer Platform to challenge Google's dominance in India. Goodyear plans to redefine its operational presence in the Asia Pacific region. Pfizer's RSVpreF vaccine has been recommended by the CDC for pregnant people. Mercedes Benz has partnered with Mastercard to introduce in-car digital payments. Novartis plans to spin-off the Sandoz business. Eisai and Biogen's Alzheimer treatment Leqembi has been approved in Japan. Alcoa has appointed William F. Oplinger as President and CEO. TransCode Therapeutics' stock is trading higher after positive results with its therapeutic candidate, TTX-MC138. Tyson Foods and Perdue Farms are under investigation over alleged child labor violations. OpenAI has unveiled a new feature for its ChatGPT application, enabling verbal responses. Apple's iOS 17 update allows users to opt for a search engine other than Google. Austrian Airlines faced backlash for making inaccurate environmental claims.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 2:58 pm

Dominion Energy's Coastal Virginia Offshore Wind (CVOW) commercial project has reached a major regulatory milestone with the completion of its environmental analysis by the Bureau of Ocean Energy Management. The project remains on budget and on schedule, with offshore construction expected to begin in early 2024 and conclude in late 2026. The project is expected to generate enough carbon-free electricity for 660,000 Virginia homes and save customers more than $3 billion in fuel costs during its first 10 years of operation.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 2:52 pm

NVO

Valo Health and Novo Nordisk have partnered to discover and develop treatments for cardiometabolic diseases using human data and artificial intelligence. Valo will receive an upfront and a potential near-term milestone payment of $60M. Valo is also eligible to receive milestone payments for up to 11 programs, totalling up to $2.7 billion, plus R&D funding and potential royalty payments.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:22 pm

DSX

Diana Shipping Inc. (NYSE:DSX) has entered into time charter contracts with ASL Bulk Marine Limited and ST Shipping and Transport Pte. Ltd. for its Ultramax dry bulk vessel, the m/v DSI Pyxis, and its Kamsarmax dry bulk vessel, the m/v Maia, respectively. The contracts are expected to generate approximately $8.91 million of gross revenue for the minimum scheduled periods of the time charters.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:17 pm