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WBUY

Webuy Global's stock price has declined following the release of its H1 2023 financial results.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:09 pm

CYN

Cyngn's stock price has increased following the announcement of a new patent, US-11,837,089-B2, for its autonomous vehicle and driving solutions.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:09 pm

ABBV

CERE

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) shares have risen after AbbVie Inc. (NYSE:ABBV) announced plans to acquire Cerevel for approximately $8.7 billion, or $45 per share in cash. The deal is expected to close in mid-2024. Following the announcement, analysts from Cantor Fitzgerald and Piper Sandler downgraded CERE from Overweight to Neutral, adjusting their price targets to $45. CERE's trading volume surged, with shares trading at $41.53, up more than 12%.

Portfolio Pulse from Erica Kollmann

December 07, 2023 | 5:05 pm

NAPA

RBC Capital analyst Nik Modi has reiterated an Outperform rating on Duckhorn Portfolio (NYSE:NAPA) and maintained a $19 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:05 pm

MFG

MUFG

SMFG

Japanese bank stocks are rising as investors anticipate the Bank of Japan may end its negative interest rate policy, which could improve bank profitability.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:04 pm

FXI

Moody's Investors Service has instructed its China-based staff to work from home and advised Hong Kong analysts to avoid travel to mainland China. This follows Moody's decision to downgrade China's sovereign credit rating outlook from neutral to negative. The move is seen as a precaution against potential government inspections. The iShares China Large-Cap ETF (FXI) has dropped 3.8% this week, coinciding with Moody's rating action.

Portfolio Pulse from Piero Cingari

December 07, 2023 | 5:02 pm

BETS

Bit Brother Ltd (NASDAQ:BETS) shares plummeted by 37% to $0.022 after announcing a registered direct offering of $12.0 million worth of Class A ordinary shares and warrants. The offering includes 184,615,385 shares at $0.065 each, with Class D and E warrants exercisable at $0.06 and $0.13 respectively. The deal is expected to close around December 8, with Maxim Group LLC as the placement agent. Additionally, Bit Brother received a Certificate of Occupancy for its new cryptocurrency mining farm in Texas, planning to start operations in early 2024 with a goal of producing 12 Bitcoin per month.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 5:01 pm

NAPA

Over the past 3 months, 7 Wall Street analysts have provided ratings for Duckhorn Portfolio (NYSE:NAPA), with an average price target of $13.86, which is a significant upside from the current price of $9.2. The consensus among these analysts is leaning towards a bullish outlook, with 1 bullish, 4 somewhat bullish, and 2 indifferent ratings. The current average price target has decreased by 15.49% from the previous target of $16.40.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm

SLG

Barclays has maintained its Underweight rating for SL Green Realty (NYSE:SLG) but raised its price target from $26.00 to $35.00. Despite the increase, the new target suggests a potential downside of 15.11% from the current price of $41.23. SL Green Realty is a major Manhattan property owner and operates as a REIT.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm

SGEN

Over the past 20 years, Seagen (NASDAQ:SGEN) has produced an average annual return of 18.82%, outperforming the market. A $100 investment in SGEN 20 years ago would be worth $3,249.78 today. Seagen's market capitalization currently stands at $41.32 billion.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 5:00 pm