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TORO

Toro Corp. (NASDAQ:TORO) has entered into an agreement to sell the M/T Wonder Sirius tanker for $33.8 million, with an expected net gain of $20.9 million. The delivery to the new owner is scheduled for the first quarter of 2024, and the gain will be recorded in the same quarter, excluding transaction costs.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:10 pm

GOOGL

Google is using a special stock compensation pool to retain top AI researchers at its DeepMind unit, countering OpenAI's multimillion-dollar offers. Despite company-wide layoffs, select DeepMind researchers have received restricted stock grants worth millions to prevent talent migration to competitors like OpenAI.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:07 pm

SOS

SOS Ltd. (NYSE: SOS) has announced the launch of an additional 1,500 mining rigs at its Texas Super-Computing Center, as part of its North American expansion. The company has a hosting contract with Grand Flourish Inc. and aims to increase the center's capacity to 200MW, accommodating 200 mobile smart containers and 60,000 servers. The Texas center currently operates 8,483 servers, while the Wisconsin center operates 810 servers with a total hash rate of 1.35 EH/s in North America.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:47 pm

AEP

American Electric Power (NYSE:AEP) has seen a 16.08% increase in short interest since the last report, with 8.73 million shares sold short, representing 1.66% of available shares. It would take about 3.21 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. AEP's short interest is below its peer group average of 2.64%.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:30 pm

AMSC

AMSC has received an $8 million order for 3 MW class wind turbine electrical control systems from Inox Wind. The order is a follow-on, with immediate delivery requested, and shipments expected throughout 2024. This order reflects the growing Indian wind market, where AMSC has been active for over a decade. AMSC's 3 MW class wind turbine design is certified to operate up to 3.3 MW under specific conditions, and under an exclusive license agreement, AMSC will be the sole ECS supplier for Inox's 3 MW class wind turbine in India.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:25 pm

AAPL

AMZN

GOOGL

IWM

META

MSFT

NVDA

SPY

TSLA

Institutional investors are optimistic about the U.S. economy avoiding a recession in 2024, with a majority expecting a soft or no landing. The 'Magnificent Seven' tech giants (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla) are seen as a crowded but promising trade, especially with anticipated rate cuts by the Federal Reserve. Investors are also favoring U.S. equities, particularly small caps, as evidenced by the Russell 2000's outperformance compared to the S&P 500. The BofA survey shows a low expectation of a hard landing, with the Federal Reserve and corporate earnings being key market drivers for 2024.

Portfolio Pulse from Neil Dennis

January 16, 2024 | 1:25 pm

DVN

Devon Energy (NYSE:DVN) has seen a 3.33% increase in short interest since its last report, with 13.86 million shares sold short, representing 2.48% of its float. The short interest is below the peer group average of 6.37%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 1:15 pm

STLA

SIXT and Stellantis have entered into a multi-billion euro agreement for SIXT to purchase up to 250,000 vehicles over the next three years for its rental fleet in Europe and North America. Significant deliveries will start in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:04 pm

BX

Blackstone Inc. (NYSE: BX) is planning to double its private equity team in Singapore within two years to capitalize on increasing deal opportunities in Southeast Asia. The expansion aims to bring Blackstone closer to its investor base in the region. The company is focusing on sectors such as technology, healthcare, consumer, financial services, and value-added industrial, targeting deals as small as $150 million. This move is part of a broader shift by financial investors away from China due to geopolitical tensions and a slow economic recovery.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 12:58 pm

AMTB

Amerant Bank, a subsidiary of Amerant Bancorp, Inc. (AMTB), has agreed to sell a loan portfolio worth approximately $401 million to Prime Finance Advisor for $370 million. The portfolio consists of non-relationship multifamily commercial real estate loans from the Bank's Houston, Texas portfolio. The sale includes customary terms and is expected to close by the end of January 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 12:16 pm