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Stock Prices

EFSH

Shares of 1847 Holdings LLC (EFSH) are down in Thursday's premarket trading following the announcement of a 1-for-4 reverse stock split. The split will reduce the number of outstanding shares from approximately 3.43 million to 0.86 million and the float from 3.40 million to 0.85 million. The company's CEO, Ellery W. Roberts, stated the reverse split is part of a strategic restructuring to better position the company for future acquisitions. Despite a 29.8% year-over-year revenue increase in Q3 2023, EFSH shares dropped by 9.79% to $0.4689.

Portfolio Pulse from Nabaparna Bhattacharya

December 28, 2023 | 11:59 am

TIO

On December 22, Tingo Group announced the resignation of three board members following a complaint by the SEC on December 18, 2023. The SEC has filed fraud charges against Tingo CEO Dozy Mmobuosi and his companies.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:51 am

CMCSA

GOOGL

IAC

MSFT

NYT

TSLA

The New York Times Co (NYT) has filed a lawsuit against OpenAI and Microsoft Corp. (MSFT) for using copyrighted content without authorization. Chamath Palihapitiya and Gene Munster discussed the potential impact on AI companies, with Palihapitiya warning those without proprietary data. Apple is reportedly spending $50 million to license content for AI training, contacting publishers like Condé Nast and companies such as Comcast Corporation (CMCSA) and IAC Inc. (IAC). Munster believes the lawsuit could reach the Supreme Court but won't significantly slow AI development, predicting a bull market driven by AI in tech.

Portfolio Pulse from Shanthi Rexaline

December 28, 2023 | 11:47 am

AEP

American Electric Power Co Inc's (AEP) subsidiaries, Appalachian Power and Wheeling Power, filed a settlement with the Public Service Commission of West Virginia to manage costs and reduce customer impact. They agreed to lower their requested fuel deferral amount by $50 million and propose using West Virginia's securitization law to handle $1.9 billion in costs. The settlement, also signed by The West Virginia Energy Users Group and the West Virginia Coal Association, awaits PSC approval. AEP maintains its 2024 earnings growth guidance of 6%-7% and FFO/Debt target of 14%-15%. AEP's stock saw a slight increase of 0.10% to close at $80.81.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 11:44 am

DOYU

DouYu International Holdings Limited has announced a plan to repurchase up to $20 million of its ordinary shares in the form of American Depositary Shares (ADSs) over a period of up to twelve months, starting from January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 11:33 am

FRSH

Needham analyst Scott Berg has maintained a Buy rating on Freshworks (NASDAQ:FRSH) and increased the price target from $25 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 11:32 am

AAPL

AMZN

Apple Inc. is rumored to be developing a new HomePod model with a curved LCD display, according to a leak reported by MacRumors. The new design, codenamed B720, is expected to enhance the user experience and Apple's competitiveness in the smart home market. The device may feature a convex LCD screen to display content and integrate with Apple Music and Apple Podcasts. Apple analyst Ming-Chi Kuo anticipates a launch of a redesigned HomePod with a 7-inch display in the first half of 2024. This development could impact the market share of competitors like Amazon.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 11:20 am

ASA

SRG

UFI

Insider purchases at ASA Gold and Precious Metals, Seritage Growth Properties, and Unifi indicate potential confidence in these companies. Boaz Weinstein, a 10% owner, bought shares of ASA for about $52,653. Seritage Growth Properties saw purchases by Yakira Capital Management Inc, costing around $130,899. Kenneth Langone, a 10% owner of Unifi, made a significant purchase of $2.88 million in shares. While insider buying can signal investment opportunities, it should not be the sole factor in decision-making.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 11:18 am

NFE

New Fortress Energy Inc (NFE) has signed an agreement to acquire a 1.6 GW Capacity Reserve Contract from Ceiba Energy, a Denham Capital portfolio company. The deal involves NFE issuing Convertible Preferred Stock and assuming liabilities from Ceiba Energy's subsidiary. The PPA will be transferred to NFE's LNG terminals in Brazil, with the transaction expected to close in March 2024 and cash flows beginning by July 2026. The PPA is projected to add over $280 million annually over its 15-year lifespan, positioning NFE as a leading LNG-to-power company in Brazil. The deal is subject to regulatory approval. Last month, NFE reported lower adjusted EBITDA and missed EPS consensus in Q3. NFE shares closed down 1.10% at $38.60.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 11:13 am

ATUS

BILI

BTBT

BTDR

CIFR

HIVE

MAXN

NRIX

WULF

In Thursday's pre-market session, several stocks are moving higher despite mixed U.S. stock futures, with the Dow Jones futures down about 40 points. Altice USA, Inc. (ATUS) saw a significant rise of 14.4% after a 12% gain on Wednesday. TeraWulf Inc. (WULF) continued its upward trend with a 10.8% increase following a 30% gain. Nurix Therapeutics, Inc. (NRIX), HIVE Digital Technologies Ltd. (HIVE), and Bit Digital, Inc. (BTBT) all saw pre-market gains, with BTBT rising due to an expansion of its Bitcoin mining fleet and a surge in Bitcoin's price. Cipher Mining Inc. (CIFR) also benefited from the Bitcoin price increase, rising 6.3%. Bilibili Inc. (BILI), Bitdeer Technologies Group (BTDR), and Maxeon Solar Technologies, Ltd. (MAXN) each saw pre-market gains of around 4.9%.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 10:41 am