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Coherus BioSciences, Inc. (NASDAQ:CHRS) shares surged 34.8% in pre-market trading after the FDA approved UDENYCA ONBODY for pegfilgrastim-cbqv. Other stocks showing pre-market gains include Burford Capital Limited (NYSE:BUR), TeraWulf Inc. (NASDAQ:WULF), Bitfarms Ltd. (NASDAQ:BITF), Bit Digital, Inc. (NASDAQ:BTBT), HIVE Digital Technologies Ltd. (NASDAQ:HIVE), Cipher Mining Inc. (NASDAQ:CIFR), and Altimmune, Inc. (NASDAQ:ALT). U.S. stock futures were slightly lower, with Dow Jones futures down about 5 points.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 11:08 am

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BYD Company has received a conditional testing license for Level 3 autonomous driving on high-speed roads in China, marking progress in the EV maker's autonomous technology. This is the first such license granted in China since BYD's initial award in July. The development reflects the increasing competition among automakers in China's autonomous driving space, with BMW and Mercedes Benz also pursuing similar advancements. BYD's stock (OTC:BYDDY) closed higher by 1.27% at $53.38 following the news.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 10:57 am

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A Rivian Automotive Inc (RIVN) R1T owner has been waiting for eight months for repairs after an accident. The delay was due to a specialized diagnostic software requirement and further damage during the repair process. Despite this, Rivian delivered 15,564 vehicles in Q3 and reported a revenue of $1.337 billion, with a loss of $1.19 per share, beating estimates. The company aims for a positive gross profit by 2024 and is developing its R2 platform.

Portfolio Pulse from Anan Ashraf

December 27, 2023 | 10:13 am

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FANHUA Inc. (NASDAQ:FANH) and Puyi Inc. (NASDAQ:PUYI) have entered into share exchange agreements, where certain FANHUA shareholders will exchange shares for PUYI shares, resulting in mutual ownership stakes. The transaction is set to close on December 29, 2023, with FANHUA shareholders owning 76.7% of PUYI and PUYI owning 50.1% of FANHUA.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:40 am

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Piper Sandler analyst Joseph Catanzaro has downgraded Gracell Biotechnologies (GRCL) from Overweight to Neutral and set a price target of $10. The downgrade reflects a more cautious stance on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:31 am

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OpenAI CEO Sam Altman has expressed a new perspective on interest rates in the context of abundant innovation, questioning what will happen to rates when there are more and better ideas than ever. Hedge fund Lumida Wealth and venture capital firm Aleph responded, suggesting higher rates could lead to better allocation of talent and innovation. Interest rates have fluctuated over the years, with the Fed recently initiating an aggressive rate-hike cycle. Cathie Wood of Ark Investment Management highlighted the potential for disruptive innovations to significantly boost global productivity and GDP growth. The Global X Robotics & Artificial Intelligence ETF (BOTZ) experienced a slight increase.

Portfolio Pulse from Shanthi Rexaline

December 27, 2023 | 9:21 am

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Coherus BioSciences, Inc. (CHRS) received FDA approval for UDENYCA ONBODY, causing its shares to jump 37.2% after hours. Bridgeline Digital, Inc. (BLIN) is expected to post a quarterly loss, with a slight gain in after-hours trading. Ascent Industries Co. (ACNT) sold Specialty Pipe & Tube for $55 million, leading to a 7.4% share increase after hours. Procaps Group S.A. (PROC) reported strong Q3 results and provided positive full-year guidance, resulting in a 1.3% share gain after hours. TOMI Environmental Solutions Inc (TOMZ) filed for a shelf offering, with shares dropping 3.4% after hours.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 9:17 am

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Leju Holdings Limited (NYSE:LEJU), a Chinese e-commerce and online media platform for real estate and home furnishing, has received a non-compliance letter from the NYSE. The letter indicates that Leju is below the NYSE's compliance standards because of its low total market capitalization and stockholders' equity.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:02 am

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Microsoft Corporation (NASDAQ:MSFT) has launched a standalone AI-driven Copilot app for Android, featuring ChatGPT-like capabilities, DALL-E 3 image creation, and access to OpenAI's GPT-4 model. The app is available on the Google Play Store. This move follows Microsoft's rebranding of Bing Chat to Copilot and the expansion of Copilot to all Windows users. The Copilot app signifies Microsoft's ongoing commitment to AI integration in its products, with an iOS version expected soon.

Portfolio Pulse from Ananya Gairola

December 27, 2023 | 9:01 am

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U.S. stocks closed higher with the Dow Jones rising over 150 points and the S&P 500 nearing record levels. Investor sentiment improved as indicated by the CNN Money Fear and Greed index remaining in 'Extreme Greed' territory. RayzeBio shares soared after a buyout announcement by Bristol Myers Squibb, and Gracell Biotechnologies shares surged following an acquisition agreement with AstraZeneca. All sectors of the S&P 500 ended positively, led by energy, real estate, and industrials. Investors are looking forward to Bridgeline Digital's earnings results.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 8:28 am