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BANL

BIDU

ELAB

Baidu's stock (BIDU) fell by 5% following reports linking its language model to Chinese military research. ELEVAI Labs (ELAB) surged 126% after signing an exclusive manufacturing and license agreement with INmune Bio to use its EMx Technology. Banle Energy International Limited (BANL) rose 52% in support of BYD's first voyage of its car carrier, BYD Explorer 1.

Portfolio Pulse from ryanfaloona@benzinga.com

January 16, 2024 | 1:50 pm

CLSK

MIGI

Mawson has initiated arbitration proceedings against CleanSpark, Inc. (CLSK) claiming at least $2 million related to the sale of its Georgia facility. Additionally, Celsius Mining LLC and related entities filed for Chapter 11 bankruptcy and have an ongoing legal dispute with Mawson, including an $8 million claim against Mawson and a demand for a $15.33 million deposit return. Mawson denies Celsius' claims and is considering counterclaims that could exceed the amounts asserted by Celsius. Mawson contests the bankruptcy court's jurisdiction and filed a motion to compel arbitration on January 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:50 pm

CLSK

MIGI

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) reported a significant increase in December 2023 revenues, with co-location business revenue up 34% M/M and self-mining business revenue up 27% M/M, totaling approximately $5.97 million. The company completed a second co-location customer deployment and has a total power capacity of 109 MW for about 35,650 miners. Mawson is also involved in legal proceedings, having filed for arbitration against CleanSpark, Inc. (NASDAQ:CLSK) over a payment dispute and is defending against claims made by bankrupt Celsius Mining LLC in an adversary proceeding.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:48 pm

BIDU

Baidu Inc (NASDAQ:BIDU) stock fell after media reports linked its AI platform, Ernie Bot, to military research in China. Baidu denied any collaboration with the authors of the academic paper or their institutions. The South China Morning Post corrected their report, and Baidu reaffirmed its commitment to legal compliance.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 1:46 pm

BIDU

Baidu's stock price has fallen following the company's response to media reports that associated its large language model with significant military research in China.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:45 pm

VZ

Verizon Communications Inc. (NYSE:VZ) has agreed to a $100 million settlement in a class-action lawsuit regarding undisclosed 'Administrative and Telco Recovery Charges.' Eligible current and former Verizon subscribers can file claims on the settlement website until April 15, 2024, to receive compensation between $15 and $100. Verizon denies wrongdoing but has settled to avoid further litigation.

Portfolio Pulse from Rounak Jain

January 16, 2024 | 1:42 pm

SLRX

Salarius Pharmaceuticals has been granted U.S. Patent No. 11,773,080, which provides composition-of-matter protection until 2039 for its novel molecular glues. This addition expands the company's protein degrader portfolio to include 17 issued patents across six patent families.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:16 pm

AFRM

BABA

CFLT

MO

Jim Cramer commented on several companies during CNBC's 'Mad Money Lightning Round.' He described Confluent, Inc.'s (CFLT) recent quarter as 'miserable' and suggested it's in the 'penalty box,' advising to wait two quarters before considering it as a buy. Cramer was negative on Alibaba Group Holding Limited (BABA), in light of recent criticism of Congress member Laurel Lee's stock trading. He warned against shorting Affirm Holdings, Inc. (AFRM), citing the company's popularity and CEO's intelligence. Cramer also expressed a reluctance to recommend Altria Group, Inc. (MO), a tobacco company. The mentioned stocks experienced slight declines in their share prices during Friday's session.

Portfolio Pulse from Avi Kapoor

January 16, 2024 | 1:07 pm

DCGO

DocGo (DCGO) has issued additional information to counter a misleading report by a short seller, identified as FP. The company has taken legal action by sending FP a cease-and-desist letter and is considering further legal options against FP and its associates.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 12:37 pm

MYL

TBPH

Theravance Biopharma and Mylan have reached a settlement agreement with Orbicular Pharmaceutical Technologies concerning Yupelri Inhalation Solution, as disclosed in an 8-K filing on January 12, 2024.

Portfolio Pulse from Charles Gross

January 16, 2024 | 11:36 am