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MCD

McDonald's Corp (NYSE:MCD) is taking a bold step by acquiring Carlyle Group Inc's (NASDAQ:CG) minority stake in its China business, aiming for aggressive expansion despite a consumer slowdown and geopolitical tensions. This move goes against the trend of multinationals scaling back in China. The market for limited-service restaurants in China is expected to grow 4% annually through 2025, with McDonald's holding a 70% share in the burger segment.

Portfolio Pulse from Lekha Gupta

December 04, 2023 | 2:19 pm

TWLO

Twilio Inc. has announced a new workforce restructuring plan to streamline operations, which includes the elimination of approximately 5% of its current workforce. The company expects to incur charges of about $25M-$35M in connection with the workforce reduction, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:18 pm

TMTCU

TMT Acquisition Corp has entered into a merger agreement with eLong Power, a provider of specialty battery technologies. Upon the closing of the deal, eLong Power's shareholders are set to receive 45 million ordinary shares of eLong Power Inc., with an implied value of $10 per share. This transaction will likely result in eLong Power becoming a publicly traded entity through a reverse merger with TMT Acquisition Corp.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:18 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) CEO Salvatore Palella addresses shareholders, outlining strategic initiatives for profitability and market expansion. The company is pivoting to branded retail and profitable sharing services, with significant cost reductions in Q2. They are introducing Long-Term Rentals (LTR) in key cities and integrating fintech payment solutions, with plans to expand retail outlets in various U.S. cities. MCOM is negotiating a loan leveraging IP and pursuing M&A activities, focusing on profitable growth. The CEO acknowledges past challenges, particularly in the media business segment, and emphasizes a commitment to financial sustainability and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:17 pm

COIN

MARA

RIOT

Shares of Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are rising due to an increase in Bitcoin's price over the weekend, surpassing $40,000. The crypto rally is driven by optimism for a potential spot Bitcoin ETF and expectations of a Federal Reserve rate cut in 2024. Coinbase shares are up nearly 9%, Marathon Digital's stock rose 13.6%, and Riot Blockchain's shares increased by 11.7%.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:15 pm

ALK

COIN

QQQ

SAIC

SPOT

SPY

UBER

U.S. stock futures indicate a weak opening as investors react to Fed Chair Powell's comments on potential policy tightening. Gold prices hit record highs amid geopolitical tensions, while Bitcoin soars past $40,000. Crude oil prices drop due to OPEC+ output cuts and demand concerns. Premarket trading sees SPY and QQQ ETFs down, while individual stocks like COIN, UBER, SPOT, SAIC, and ALK show significant movements. ALK's planned acquisition of HA causes a surge in HA's stock.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 2:14 pm

WISA

WiSA Technologies, Inc. shares surged following the announcement of a 5-year licensing agreement with an HDTV brand for WiSA E technology.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:12 pm

AMD

DELL

HPE

INTC

LNVGF

LNVGY

NVDA

TSM

AMD's EVP and GM, Forrest Norrod, at the UBS Annual Technology Conference, highlighted the potential of the MI300 in positioning AMD as a key player in the AI market. He expects AI revenue to surpass $2 billion in 2024, with the MI300 launch being a significant milestone. AMD's market share in North American hyperscalers is above 50%, and it aims to increase its enterprise sector share. Norrod compared AMD's chiplet technology favorably against NVIDIA and discussed compliance with U.S. export regulations for the Chinese market. Partnerships with companies like HPE, Dell, Lenovo, and Supermicro are key, and AMD's software strategy includes collaborations with hyperscalers and open-source initiatives. AMD maintains a strong foundry partnership with TSMC but is open to working with Intel if they catch up. The company targets a 30% plus operating margin over time, supported by investments in AI and other sectors.

Portfolio Pulse from Surbhi Jain

December 04, 2023 | 2:12 pm

DRTTF

QNCX

RDW

VWE

Insiders at four companies have made notable purchases of their own company's penny stocks. Vintage Wine Estates Director Timothy Proctor bought shares at an average price of $0.57, after the company reported a wider-than-expected quarterly loss. Redwire's Chief Accounting Officer Chris Edmunds acquired shares at $2.55 each following better-than-expected quarterly sales. 22NW GP, Inc., a 10% owner of DIRTT Environmental Solutions, invested around $2.29 million in shares at $0.51 each after the company reported a revenue increase. Quince Therapeutics Director David Lamond bought shares at $0.94 each after the company completed an acquisition. These transactions may signal insider confidence and are worth considering for investors interested in penny stocks.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 2:12 pm

ATHE

Alterity Therapeutics Inc (NASDAQ:ATHE) stock surged over 200% after presenting new data at the Future of Parkinson's Disease Conference 2023. The data showed that its drug ATH434 improved motor performance and general function in a primate model of Parkinson's disease. The treatment was associated with reduced iron levels in pathology and increased levels of synaptophysin, indicating functional neuronal connections. The study highlighted that all ATH434-treated monkeys showed stable or improved symptoms compared to the placebo group.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 2:11 pm