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BMY

KRTX

Bristol Myers Squibb is set to acquire Karuna Therapeutics for $330.00 per share in cash, causing Karuna's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:31 pm

COIN

Coinbase Inc. (NASDAQ:COIN) has seen its stock surge by 400% in 2023, outperforming Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). A $1,000 investment in COIN at the start of the year would now be worth $5,000.89. In comparison, the same investment would have grown to $2,638.73 in BTC, $1,864 in ETH, and $1,352 in DOGE. Despite the stock's growth, ARK Invest has reduced its exposure to COIN. Coinbase CEO Brian Armstrong is optimistic about crypto's future and is supporting pro-crypto U.S. election candidates.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 12:30 pm

LMNR

Limoneira Co (NASDAQ:LMNR) reported Q4 FY23 revenue of $41.4 million, a 4% increase, surpassing the consensus of $37.8 million. Agribusiness revenue increased, and the company sold approximately 550,000 cartons of fresh lemons. However, there was no avocado revenue, and the company reported an increased operating loss of $(9.7) million. Adjusted EBITDA loss improved to $(1.3) million, and adjusted EPS loss was in line with consensus. The company used $(15.9) million in net cash for operating activities and ended with $3.6 million in cash. LMNR expects challenges due to supply chain and inflation but projects increased lemon and avocado volumes in FY24. The company plans to sell non-strategic assets for expected proceeds of $50 million and has adjusted cash flow projections to $131 million over nine years. The Board is exploring strategic alternatives to maximize stockholder value. LMNR shares closed up 1.32% at $19.19.

Portfolio Pulse from Lekha Gupta

December 22, 2023 | 12:26 pm

TSLA

Wedbush analyst Daniel Ives has maintained an Outperform rating on Tesla (NASDAQ:TSLA) and increased the price target from $310 to $350, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:16 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has acquired land in Shanghai for a new Megapack battery factory, with construction expected to start in Q3 and production by mid-2024. The factory will have a capacity of 10,000 megapacks per year, complementing Tesla's energy generation business which grew 40% to $1.6 billion in Q3. Megapacks store energy to stabilize the grid, with each unit capable of powering 3,600 homes for an hour.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 12:12 pm

ASML

INTC

SSNLF

TSM

ASML Holding NV has started shipping components for its new high-NA EUV lithography machine to Intel Corp's D1X factory in Oregon. This move is part of Intel's strategy to lead in manufacturing technology and ASML's effort to sustain the chip industry's dependence on its equipment. The first model, Twinscan EXE:5200, costs around $275 million, with a more advanced model expected to be more expensive. Intel aims to begin production with this system in 2025. ASML's stock rose 3.52% to $755.27 following the news.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 12:09 pm

FANH

PUYI

Puyi Inc. plans to repurchase 4.03 million of its shares from Fanhua Inc., which is 4.46% of Puyi's share capital. Simultaneously, Fanhua will acquire a 15.41% stake in Fanhua Puyi Fund Sales for about RMB10.5 million.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 12:05 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is offering a 50% discount on supercharging at select locations in Australia during off-peak hours this holiday season. The promotion is available to Tesla and other EV drivers between December 22, 2023, and January 7, 2024, before 9 am and after 9 pm. Customers can find details on the Tesla app or vehicle touchscreens. Additionally, Tesla's annual 'holiday update' for its vehicles has begun rolling out, featuring new software enhancements such as a trip planner, Apple podcasts, and automatic 911 calls.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 12:04 pm

ALPN

Alpine Immune Sciences (NASDAQ:ALPN) has been the subject of diverse analyst ratings over the past three months, with 7 analysts offering views ranging from bullish to bearish. The average 12-month price target has increased by 37.28% to $24.71, with a high estimate of $32.00 and a low of $18.00. Analysts from firms like HC Wainwright & Co., Wedbush, RBC Capital, Morgan Stanley, and Berenberg have adjusted their ratings and price targets, reflecting a positive outlook on the company's performance. Alpine Immune Sciences is a clinical-stage biopharmaceutical company with a focus on protein-based immunotherapies. Despite a market capitalization below industry benchmarks, the company has seen a revenue growth of 20.03% and has a strong net margin and ROE, with minimal reliance on debt financing.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 12:00 pm

TDY

Needham analyst James Ricchiuti has reaffirmed a Buy rating on Teledyne Technologies (NYSE:TDY) and increased the price target from $455 to $522.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 11:57 am