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FREY

Freyr Battery (NYSE:FREY) announced organizational changes, including the promotion of Andreas Bentzen to CTO and the addition of Jessica Wirth Strine to the board. The company is focusing on completing commissioning stages and establishing the U.S. as its primary production hub. Following the news, FREY shares rose 3.12% to $1.67.

Portfolio Pulse from Adam Eckert

November 27, 2023 | 1:57 pm

GE

GEHC

General Electric Co (NYSE:GE) is preparing for the spin-off of GE Vernova, which will be listed as 'GEV' on the NYSE. The spin-off is part of GE's plan to create three independent companies, with GE Aerospace continuing under the current GE stock listing. GE Vernova has signed an MoU with Next Hydrogen Solutions Inc. for green hydrogen production. GE HealthCare Technologies Inc (NASDAQ:GEHC), already spun-off from GE, has seen a stock surge after FDA approval for a remote scanning solution and strong financial performance.

Portfolio Pulse from Surbhi Jain

November 27, 2023 | 1:57 pm

FTNT

NET

PANW

ZS

Zscaler Inc (NASDAQ:ZS) is set to report Q1 FY2024 earnings with expectations of 49 cents EPS and $474.31 million in revenue. The company focuses on AI-based security enhancements and data protection, with projected 33% YoY revenue growth for Q1 and 27-28% for the full year. Despite a challenging macro environment, Zscaler remains cash flow positive with a 121% net retention rate. Analysts are interested in Zscaler's integrated product initiatives and data protection growth. Consensus analyst ratings are a Buy, with a price target of $188.47. Shares closed higher at $193.09. Peers like Fortinet Inc (NASDAQ:FTNT), Cloudflare Inc (NYSE:NET), and Palo Alto Networks (NASDAQ:PANW) also face macro challenges but are adapting strategies.

Portfolio Pulse from Surbhi Jain

November 27, 2023 | 1:54 pm

CCI

SHOP

THAR

Tharimmune reported positive Phase 1 data for TH104 in treating chronic pruritis in primary biliary cholangitis, achieving its primary objective with favorable safety. Crown Castle's shares rose after Elliott Management took a $2B stake and recommended operational improvements. Shopify's stock increased following a report of strong Black Friday sales.

Portfolio Pulse from ryanfaloona@benzinga.com

November 27, 2023 | 1:54 pm

AMZN

JFBR

Jeffs' Brands Ltd has launched a new keto gummies product under the Wellution™ brand on the Amazon Marketplace. The product, which is based on green apple cider vinegar, is available in the U.S. in time for the holiday season. Jeffs' Brands, listed as JFBR and JFBRW on NASDAQ, owns approximately 49% of SciSparc Nutraceuticals Inc., the owner of Wellution™. Wellution™, which started in 2019, has a range of natural hemp-based candy supplements and has garnered over 30,000 reviews.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:52 pm

INTC

Intel is set to release its Meteor Lake 'Core Ultra' CPUs, the first AI PC processing platform, on December 14. Supply chains are expecting an increase in demand for PC replacements following the launch.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:50 pm

DLTR

Wells Fargo analyst Edward Kelly has maintained an Overweight rating on Dollar Tree (NASDAQ:DLTR) but has reduced the price target from $155 to $140.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:50 pm

KHC

The Kraft Heinz Company (NASDAQ:KHC) has announced a share repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to $3 billion of the company's outstanding common stock through December 26, 2026. The repurchases will be funded with excess cash and are part of a capital allocation strategy that includes capital spending, dividend payments, maintaining a targeted Net Leverage of approximately 3.0x, and evaluating strategic opportunities. CEO Miguel Patricio emphasized the company's strong balance sheet and the attractiveness of its shares as an investment opportunity. The repurchase program is flexible and may be adjusted, suspended, or discontinued depending on various factors, including market conditions and stock price.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:48 pm

NCNC

noco-noco Inc. (NASDAQ:NCNC) plans to acquire 51% of Japanese EV manufacturer Assemblepoint for $3.6M via a share swap. The deal, expected to close in Q1 2024, aims to leverage noco-noco's battery technology and Assemblepoint's scalable Smart Bus assembly to address environmental and transportation challenges. The acquisition is anticipated to be accretive to noco-noco's revenue and earnings in 2024 and will support its expansion in the EV market across Asia and the Middle East. The Philippines, a key market, aims to reduce emissions by 75% by 2023, and the partnership will help overcome challenges like lack of charging infrastructure.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:46 pm

SYRE

Spyre Therapeutics is set to begin trading on Nasdaq under the symbol 'SYRE' starting November 28, 2023. The company reported having $205 million in cash, cash equivalents, marketable securities, and restricted cash as of September 30, 2023, which is expected to fund operations into 2026.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:43 pm