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TCEHY

David Wallerstein, Tencent Holdings Ltd.'s Chief Exploration Officer, is stepping down to become a senior adviser, focusing on climate and human health. This change comes amid China's regulatory crackdown on tech and gaming, which has caused significant market value losses for companies like Tencent. The company's shares dropped over 6% since the announcement of new gaming regulations on Dec. 21, indicating a challenging period ahead for the sector.

Portfolio Pulse from Franca Quarneti

December 29, 2023 | 3:51 pm

MIGI

Shares of Mawson Infrastructure Group Inc. (MIGI) were halted due to a circuit breaker, which typically occurs when there is a significant price movement in a stock, either up or down, and is meant to prevent excessive volatility.

Portfolio Pulse from Bill Haddad

December 29, 2023 | 3:49 pm

CTSO

HC Wainwright & Co. analyst Sean Lee downgraded CytoSorbents (CTSO) from Buy to Neutral and reduced the price target from $5.5 to $1, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 3:48 pm

COIN

GMM

HUT

LYFT

Global Mofy Metaverse Limited (GMM) shares plummeted by 37.2% after announcing a $10 million follow-on offering. Other stocks also experienced declines, including Canaan Inc., Bitdeer Technologies Group, TeraWulf Inc., Applied Optoelectronics, Inc., and several others. Notably, Hut 8 Corp. received court approval to proceed with mining operations amid Celsius Network's bankruptcy, and Coinbase Global's director sold over 100k shares. Lyft shares dropped after a Nomura downgrade and insider selling by the CAO.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 3:45 pm

ARGT

EDN

Argentina's President Javier Milei's reform bill has led to protests and a planned general strike by the CGT union. The bill includes controversial measures such as government employee layoffs, privatization of public companies, and constitutional reforms. The market has reacted negatively, with the S&P Merval index falling 2.5% and 17 out of 23 companies losing ground. However, individual stocks like Edenor (EDN) have seen significant gains year-to-date. The Global X MSCI Argentina ETF (ARGT) initially rose 24% post-election but may be impacted by the current unrest.

Portfolio Pulse from Neil Dennis

December 29, 2023 | 3:41 pm

WBD

Warner Bros. Discovery Inc (NASDAQ:WBD) has acquired Turkish streaming service BluTV, expanding its streaming portfolio. BluTV, established in 2016, has grown its original content and library, and integrated Discovery+ in 2021. Recently, BluTV added HBO content and kids channels. The financial terms of the acquisition were not disclosed. WBD had $2.38 billion in cash and equivalents as of September 30. WBD shares were down by 1.41% at $11.53 last Friday.

Portfolio Pulse from Anusuya Lahiri

December 29, 2023 | 3:29 pm

SHIBUSD

Shiba Inu (SHIB) saw significant whale activity with a transfer of 4.25 trillion tokens worth $44.9 million and a separate receipt of 417 billion tokens worth $4.4 million by a new address. The SHIB community burned 13.14 million coins, increasing the burn rate by 17.6%. Despite these activities, SHIB's price dropped by 1.1% in the last 24 hours, with a 27.5% gain over the past 30 days. Trading volume decreased by 12.7%. Marketing lead Lucie hinted at future developments for SHIB, and SHIB Bezos tweeted about potential revenue generation and SHIB burning through Shibarium.

Portfolio Pulse from Khyathi Dalal

December 29, 2023 | 3:24 pm

UNH

UnitedHealth Group Incorporated (NYSE:UNH) is selling its Brazilian operations to a private investor, resulting in an expected $7 billion charge, mostly non-cash due to foreign currency translation losses. This charge will be excluded from adjusted earnings. The sale is anticipated to close in the first half of 2024, pending regulatory approvals. Despite this, UnitedHealth confirms its 2024 adjusted earnings outlook, although net earnings will be affected by the charge. UNH stock saw a slight increase of 0.24% to $526.16.

Portfolio Pulse from Nabaparna Bhattacharya

December 29, 2023 | 3:23 pm

ARBK

Zacks Investment Research has named Argo Blockchain, a cryptocurrency mining company, as its pick for a stock under $10. This recommendation suggests that Zacks sees potential value in Argo Blockchain's stock at its current price point, which is below $10.

Portfolio Pulse from Bill Haddad

December 29, 2023 | 3:23 pm

GMM

Global Mofy Metaverse (GMM) shares have declined following the announcement of a $10 million follow-on offering, which typically dilutes existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 3:22 pm