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NIO

NIO Inc (NYSE:NIO) shares are rising due to positive policy commentary from China's central bank, which plans to support the economy and promote recovery. The People's Bank of China (PBOC) will increase macroeconomic policy adjustments, boosting financial support for enterprises. Nio's stock has also been buoyed by the launch of its new ET9 sedan and a $2.2 billion strategic equity investment from CYVN Investments, which now owns approximately 20.1% of Nio's common stock. Nio plans strategic and technology collaborations with CYVN internationally.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 4:29 pm

DIS

PENN

HG Vora Capital Management, holding an 18.5% economic interest in Penn Entertainment Inc (PENN), is in talks for board representation. The hedge fund, owning an 11% stake, may seek a proxy fight if negotiations fail. Penn's stock is seen as undervalued by HG Vora, criticizing its capital allocation and M&A strategy. Penn's recent divestiture of Barstool Sports and a deal involving ESPN, owned by Disney (DIS), led to a 15% stock decline this year. PENN shares rose 6.52% to $26.64 recently.

Portfolio Pulse from Vandana Singh

December 28, 2023 | 4:25 pm

SNES

Shares of SenesTech, Inc. were halted due to a circuit breaker after experiencing a significant drop. Despite the halt, the stock is currently up 77.4%.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 4:20 pm

NVDA

SSNLF

South Korea's semiconductor industry, led by Samsung Electronics Co (OTC:SSNLF) and SK Hynix, has seen a significant rebound with chip production and shipments surging by 42% and 80% respectively. This marks the highest production increase since early 2017 and the largest shipment gain since late 2002. The growth has contributed to a better-than-expected 5.3% increase in South Korea's industrial output in November. Despite global economic challenges, the Bank of Korea projects a 2.2% economic expansion next year, with recovering memory chip prices and demand for emerging technologies like AI. Samsung is a key supplier for Nvidia Corp (NASDAQ:NVDA).

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 4:15 pm

BJDX

BlueJay Diagnostics, Inc. (NASDAQ:BJDX) shares dropped after announcing a $3.5 million public offering priced at $1.30 per share. The offering consists of 2,692,308 shares, and the proceeds will be used for FDA approval efforts, R&D, and general working capital. The company also initiated a clinical study for the Symphony IL-6 test in sepsis patients. Trading volume surged following the news, with shares falling below the 50-day moving average and significantly off the 52-week high.

Portfolio Pulse from Erica Kollmann

December 28, 2023 | 4:15 pm

SNES

Shares of SenesTech, Inc. were halted due to a circuit breaker after surging 98.3%, indicating a significant upward price movement.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 4:11 pm

SIDU

Sidus Space Inc (NASDAQ:SIDU) stock surged and experienced multiple trading halts due to volatility after announcing preparations for a Q1 2024 launch of LizzieSat. The company highlighted its achievements in 2023, including service expansion, new customer acquisition, technology enhancements, and completion of testing for the SpaceX Transporter-10 launch. CEO Carol Craig emphasized the launch's potential to drive high margin revenue growth and the anticipation of increased annualized revenue from subscription customers, with more satellite launches planned for 2024.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 4:03 pm

CBDD

CBD of Denver, Inc. (OTC:CBDD) reported increased Q4 revenue, reaching $1.310 million, with Luxora contributing approximately $1.134 million and Libra 9 about $176,000. The company's growth is attributed to partnerships and market strategies, including a teleshopping partnership and trade show presence. Luxora's expansion in the European CBD wholesale market and potential entry into the German market are key growth drivers. The legalization of marijuana in Germany, which could impact Luxora, has been postponed to 2024. CBDD's stock rose 16.6667% to $0.0007 post-market on Wednesday.

Portfolio Pulse from Jelena Martinovic

December 28, 2023 | 4:02 pm

SPY

UNG

USO

The latest report on USA gasoline inventories indicates a draw of 0.575 million barrels, contrasting with the estimated build of 0.400 million barrels and the previous build of 2.710 million barrels. This suggests a decrease in gasoline supplies which could affect energy sector stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 4:01 pm

CDNS

Cadence Design Systems (NASDAQ:CDNS) is compared with its competitors in the Software industry. Key financial metrics show CDNS has a lower P/E ratio than the industry average, suggesting potential undervaluation. However, its P/B and P/S ratios are higher, indicating possible overvaluation based on book value and sales. CDNS's ROE is below the industry average, and its EBITDA and gross profit are lower than the industry average, which may signal financial challenges. Despite this, CDNS's revenue growth surpasses the industry average, indicating robust sales expansion. CDNS also has a lower debt-to-equity ratio compared to its top 4 peers, suggesting a stronger financial position.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 4:00 pm