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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

AGLE

Aeglea BioTherapeutics has changed its name to Spyre Therapeutics and will trade under the symbol 'SYRE' starting November 28, 2023. The company appointed Cameron Turtle as CEO and added industry veterans Jeffrey Albers and Laurie Stelzer to its Board of Directors. Spyre is expanding its leadership team to develop therapeutic combinations for IBD, with lead programs SPY001 and SPY002 entering clinical studies in 2024. The company has a financial runway into 2026 with $205 million in cash and equivalents as of September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:42 pm

ADBE

AFRM

PYPL

SPY

SQ

Adobe's 'Buy Now Pay Later' feature is projected to reach a record high in usage during Cyber Monday in the US, with an expected contribution of $782 million to online spending, marking an 18.8% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:35 pm

FCG

USO

Oil prices fell as OPEC+ postponed its meeting to discuss output quotas due to a dispute over African quota with Nigeria and Angola. Brent crude dropped below $80 a barrel, and WTI fell to $74.61. The USO ETF declined by 1.7% in pre-market trade, while the FCG ETF was down 2.6%. High supply and lower demand, along with record U.S. production and warmer weather, are influencing the market. Saudi Arabia and Russia may consider deeper production cuts at the upcoming meeting, which could impact prices.

Portfolio Pulse from Neil Dennis

November 27, 2023 | 1:34 pm

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) has hired Mark R. Basile, Esq. and The Basile Law Firm P.C. to investigate and take legal action against potential market manipulation and unlawful activities affecting its stock performance. This includes addressing the impact of a research paper by Capybara Research. Basile has a history of combating dilution funding and market manipulation, including a landmark decision against Adar Bays. Safety Shot's CEO, Brian S. John, expressed commitment to pursuing legal action against 'short and distort' campaigns and media outlets that disseminated the Capybara Report.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 1:33 pm

SHOP

Shopify Inc (NYSE:SHOP) stock is rising after announcing a Black Friday sales record of $4.1 billion by its merchants, a 22% increase from 2022. Sales peaked at $4.2 million per minute, with clothing, personal care, and jewelry as top categories. The average cart price was $110.71, with the U.S., U.K., and Canada as top selling countries. The stock was up 3.85% at $73.05.

Portfolio Pulse from Adam Eckert

November 27, 2023 | 1:33 pm