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IDAI

Trust Stamp has filed a provisional patent application for its new Stable IT2 technology, which could potentially enhance the company's intellectual property portfolio and offer innovative solutions in the tech space.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:31 pm

III

Information Services Group (ISG) has announced the launch of a new suite of AI advisory services aimed at assisting enterprise clients with adopting artificial intelligence at scale. The firm intends to utilize its extensive experience in technology sourcing and governance to support this initiative.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:21 pm

CWT

California Water Service Group (NYSE:CWT) has appointed James P. Lynch as the new Senior Vice President, Chief Financial Officer, and Treasurer, effective January 3, 2024. Lynch, with over 22 years of experience in the water utility industry, succeeds interim CFO David B. Healey. Lynch's previous roles include Chief Accounting Officer at SJW Group and Audit Partner at KPMG, LLP. His appointment follows a nation-wide search and is expected to ensure a smooth transition in the company's fiscal year 2023 financial reporting.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:11 pm

DH

Definitive Healthcare Corp has announced a restructuring plan to cut operating costs, which includes laying off 154 employees. The plan is expected to be substantially complete by the end of Q2 2024, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:10 pm

OPK

OPKO Health, Inc. (NASDAQ:OPK) is initiating a private offering of $200 million Convertible Senior Notes due 2029, with an option for the initial purchaser to buy an additional $30 million. The notes are senior unsecured obligations, paying semiannual interest, maturing on January 15, 2029, and can be converted into cash, shares, or a mix. Entities affiliated with company executives indicated interest in acquiring $70 million of these notes. Proceeds may be used to repurchase common stock and 4.50% Convertible Senior Notes due 2025. The repurchases could affect the market price of the common stock and the notes. The securities offered have not been registered under the Securities Act and are available only to qualified institutional buyers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:08 pm

BABA

PDD

Alibaba Group Holding Ltd (BABA) and PDD Holdings Inc (PDD) are major players in China's e-commerce market. Alibaba, with a 50.8% market share, has faced challenges including U.S. restrictions, regulatory crackdowns, and internal restructuring, leading to a significant drop in stock value. PDD has surpassed Alibaba in market capitalization, benefiting from strategic moves like livestream sales. Despite Alibaba's larger scale in revenue, PDD's market cap growth reflects changing market dynamics and consumer preferences.

Portfolio Pulse from Surbhi Jain

January 04, 2024 | 1:58 pm

BABA

PDD

SE

Alibaba's e-commerce arm, Lazada, has begun a new round of layoffs across its Southeast Asian operations, with Singapore experiencing the most significant impact. The layoffs are expected to affect employees at all levels and could number in the hundreds. This move comes during a challenging period for Alibaba, which has seen a 75% drop in its share price since 2020, a $2.8 billion fine for alleged monopolistic practices, and the cancellation of its cloud unit's IPO.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 1:44 pm

CDIO

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) has launched HeartRisk, a data intelligence platform for employers to assess cardiovascular disease risks within their workforce. HeartRisk combines clinical data with industry and geographic data to provide actionable insights, aiming to reduce healthcare costs and improve productivity by mitigating cardiovascular disease impacts. The platform supports employers in making informed decisions on benefits and resource allocation. Cardio Diagnostics' Epi+Gen CHD and PrecisionCHD tests, which use AI and blood samples to assess heart attack risk and diagnose coronary heart disease, are part of the company's offerings to employers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:43 pm

WBA

During a conference call, a Walgreens executive stated that the company is on track to achieve $1 billion in cost savings by fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:42 pm

ISPR

Ispire Technology Inc. (NASDAQ:ISPR) has announced that its Malaysian subsidiary received three ISO certifications for its manufacturing facility, which is expected to increase gross margins by avoiding tariffs and improving production efficiency. The certifications are anticipated to enhance product quality, customer satisfaction, and access to global markets, contributing to the company's gross-margin expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:42 pm