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SSNT

Brad Jacobs, through Jacobs Private Equity II, LLC (JPE), will invest $1 billion in SilverSun Technologies, Inc. (NASDAQ:SSNT), with JPE contributing $900 million and co-investors, including Sequoia Heritage, adding $100 million. Upon closing, JPE will be the majority stockholder, and Jacobs will become CEO and chairman. The deal includes a spin-off of SilverSun's existing business to its stockholders and a rebranding of the company as a platform for future acquisitions in a yet-to-be-announced industry.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:18 pm

BTBT

CVNA

EWBC

FLNC

FSR

MMM

PAM

Several Wall Street analysts have updated their price targets and ratings for various US-listed companies. Notable changes include Evercore ISI Group's downgrade of Fisker Inc. (FSR) with a price target cut from $6 to $2, and Deutsche Bank's upgrade of Hawaiian Holdings, Inc. (HA) with a price target increase from $4 to $16. Other companies affected by analyst revisions include Antero Resources (AR), Fluence Energy (FLNC), Carvana (CVNA), General Motors (GM), East West Bancorp (EWBC), 3M Company (MMM), Bit Digital (BTBT), and Pampa Energía (PAM).

Portfolio Pulse from Lisa Levin

December 04, 2023 | 12:18 pm

GreenPower Motor Company Inc. has received its first order for the Nano BEAST all-electric school buses destined for the New York market, facilitated by its dealer Leonard Bus Sales. This marks a significant step for GreenPower in expanding its presence in the electric school bus segment, particularly in New York, which is a key market for electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:17 pm

OKE

B of A Securities analyst Chase Mulvehill upgraded ONEOK (NYSE:OKE) from Neutral to Buy and increased the price target from $72 to $83, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:15 pm

CYBR

Wells Fargo analyst Andrew Nowinski has upgraded CyberArk Software (NASDAQ:CYBR) from Equal-Weight to Overweight and set a price target of $250.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:11 pm

EYPT

EyePoint Pharmaceuticals announced that its Phase 2 DAVIO 2 trial of EYP-1901 for wet age-related macular degeneration met all primary and secondary endpoints. This positive outcome could potentially lead to advancements in treatment for the condition.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:07 pm

LLY

The FDA granted conditional approval for Eli Lilly's Jaypirca for treating adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma who have undergone at least two prior therapies. The approval, under the FDA's Accelerated Approval pathway, was based on the Phase 1/2 BRUIN trial results, which showed a 72% overall response rate. Jaypirca is the first FDA-approved non-covalent BTK inhibitor and comes with specific warnings and precautions. This follows a previous approval in January 2023 for a different indication.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 12:06 pm

FATH

KITT

NXU

POLA

The article highlights four oversold industrial stocks with RSI values near or below 30, suggesting potential for short-term growth. Nxu, Inc. (NXU) launched a new product but reported a Q3 loss, with shares down 30% over the past month. Nauticus Robotics, Inc. (KITT) announced an acquisition but saw a 33% stock decline over five days. Fathom Digital Manufacturing Corporation (FATH) received a buyout proposal, with an 18% stock drop over the past month. Polar Power, Inc. (POLA) priced a public offering, resulting in a 41% share price fall over five days.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 12:05 pm

APLM

Apollomics has presented efficacy and safety data from the ongoing KUNPENG and SPARTA trials of Vebreltinib at the IASLC North America Conference on Lung Cancer. The data is significant for the continued development and potential future approval of Vebreltinib for treating lung cancer.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:04 pm

BABA

FXI

PDD

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower, in line with the broader IShares China Large-Cap ETF (NYSE:FXI). Alibaba lost its title as China's most valuable e-commerce company to PDD Holdings Inc (NASDAQ:PDD). BABA's stock is down 20% YTD, while PDD's stock is up 72%. Alibaba Cloud has open-sourced large language models, including a 72-billion-parameter model and a 1.8-billion-parameter model, and introduced new multimodal LLMs. BABA shares traded lower by 1.54% at $72.84 in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 04, 2023 | 12:01 pm