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Illinois Governor JB Pritzker, who signed a cannabis legalization bill two years ago, will be a keynote speaker at the upcoming Benzinga Cannabis Capital Conference. The cannabis legalization law has resulted in the creation of over 30,000 jobs and positively impacted the state's economy, with weed sales reaching $1.5 billion in 2022. Some of the largest companies in Illinois' diverse cannabis industry include Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries.

Portfolio Pulse from Maureen Meehan

July 17, 2023 | 4:29 pm

AAPL

Morgan Stanley analyst Erik W Woodring has reiterated an Overweight rating on Apple Inc (NASDAQ:AAPL) and raised the price target from $190 to $220. Woodring is bullish on India as an emerging growth driver for Apple, forecasting the country to account for 15% of Apple's revenue growth and 20% of installed base growth over the next five years. Despite India currently accounting for only 2% of Apple's revenue growth, recent investments in brand awareness, local manufacturing, and affordability programs, combined with India's economic boom and growing digitization, are expected to set the stage for India to become Apple's next growth frontier.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 4:27 pm

SNY

Scribe Therapeutics has expanded its collaboration with Sanofi to advance in vivo genetic medicines for sickle cell and other genomic diseases. Scribe will receive $40M upfront, with the potential for more than $1.2B in milestones across all programs. The collaboration will leverage Scribe's CRISPR X-Editing (XE) technologies and Sanofi's capabilities in non-viral delivery to address sickle cell disease.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 3:53 pm

FRSX

Foresight Autonomous Holdings has signed an exclusive commercialization agreement with Elbit Systems Land, securing revenue of up to $4 million over a 5-year contractual period. This has led to an increase in Foresight's share price.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 3:41 pm

CHWY

Shares of Chewy Inc (NYSE:CHWY) rose in premarket trading after Goldman Sachs analyst Eric Sheridan upgraded the company's rating from Neutral to Buy and raised the price target from $42 to $50. Sheridan predicts that Chewy could generate around 10% revenue growth and steady margin expansion from 2023 to 2027, driven by a return to stable customer growth post-pandemic and various strategic initiatives.

Portfolio Pulse from Priya Nigam

July 17, 2023 | 2:46 pm

IDCC

InterDigital received a cash payment of $184.9M related to its UK High Court case against Lenovo. The company plans to defer recognizing any additional catch-up revenue until the appeal process progresses in the Lenovo case.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:11 pm

ALLT

Allot has reported its preliminary Q2 revenue of $25M, slightly below the estimated $25.09M.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:10 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) provided an update on its Magnolia Residential project, which is now in the architectural and engineering design phase. The company is exploring various funding options and expects to generate $130M of inter-company revenue from the project. The project is expected to significantly increase the asset base and future cash flow of SG DevCo, a subsidiary of Safe & Green Holdings.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:32 pm

ESLT

FRSX

Foresight Autonomous Holdings Ltd. (FRSX) has signed a five-year exclusive commercialization agreement with Elbit Systems Land Ltd. (ESLT) for the integration, marketing, and licensing of Foresight's image processing software solution. Foresight expects revenues of up to $4 million over the five-year period, with a minimum guarantee of $1 million. The software will be used in advanced driver assistance systems and semi- and fully-autonomous platforms for defense, paramilitary, and homeland security markets.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:22 pm

MULN

Mullen Automotive, Inc. (NASDAQ: MULN) has announced a 30-unit purchase order for the Mullen-GO Commercial Urban Delivery EV from Newgate Motor Group in Ireland. The initial order is valued at approximately $321K, with subsequent orders expected. This represents Mullen's first sale of vehicles for delivery outside of the U.S. and into the European market. The order is expected to be reflected in Mullen's current fiscal quarter reporting.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:17 pm