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GELYY

VOLVF

ZK

Geely Automobile Holdings Ltd (OTC:GELYY) plans to introduce its premium electric vehicle (EV) brand, Zeekr (NYSE:ZK), to South Korea by 2026. The company aims to open showrooms in Seoul and Gyeonggi province by the end of next year, with the first model, Zeekr 001, expected to be delivered in early 2026. Geely faces challenges due to South Korea's new rule favoring EVs with higher recycled metal content. Geely has also partnered with Korea's SK Group and Posco International Inc. for battery development and sales. GELYY shares closed higher by 2.67% at $22.66 on Wednesday.

Portfolio Pulse from Shivani Kumaresan

July 05, 2024 | 3:02 pm

DSX

Diana Shipping has extended its time charter contract with Nippon Yusen for the vessel m/v Los Angeles. The new charter rate is $28,700 per day minus a 5% commission, effective from July 18, 2024, until a period between October 1, 2025, and December 15, 2025.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

GLNG

Golar LNG shares are trading higher following the announcement of a 20-year agreement with Pan American Energy for the deployment of a floating liquefied natural gas vessel in Argentina.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

GLNG

M

MICS

Market-Moving News for July 5th includes significant developments for Golar LNG, Macy's, and The Singing Machine Company. Golar LNG has entered into a 20-year agreement with Pan American Energy for a floating LNG vessel in Argentina. Macy's shares are up after Arkhouse and Brigade raised their offer to $24.80 per share. The Singing Machine Company completed the acquisition of SemiCab and entered into an option agreement to acquire SMCB Solutions Private Limited.

Portfolio Pulse from ryanfaloona@benzinga.com

July 05, 2024 | 3:01 pm

CORZ

Core Scientific (NASDAQ: CORZ) has secured high-performance computing hosting contracts with CoreWeave for 270MW of infrastructure, representing a total revenue opportunity of $4.7 billion over 12 years. The company earned 430 self-mined Bitcoin in June, totaling 4,506 Bitcoin year-to-date and 1,680 in Q2. Core Scientific also completed a 72MW expansion at its Denton, TX data center and began a project to complete 100MW of partially built infrastructure at its Pecos, TX data center.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

GLNG

Golar LNG has entered into definitive agreements with Pan American Energy for a 20-year deployment of a floating liquefied natural gas (FLNG) vessel in Argentina. The project is expected to start LNG exports by 2027, establishing Argentina as an LNG exporter. Golar will hold a 10% stake in Southern Energy S.A., a joint venture with PAE responsible for the purchase of domestic natural gas, operations, and sale and marketing of LNG volumes from Argentina.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

SFTBY

SoftBank Group is negotiating with banks to secure up to $10 billion in funding for energy-related projects, primarily in the U.S., to support global generative AI projects. This move aligns with SoftBank's recent AI investments, including in Perplexity AI, and plans to buy and lease chips from Nvidia.

Portfolio Pulse from Benzinga Neuro

July 05, 2024 | 3:01 pm

ERIC

Ericsson will record a SEK 11.4 billion non-cash impairment charge in Q2 2024, mainly due to the Vonage acquisition. This reflects lower anticipated market growth in some of Vonage's portfolio. Despite this, Ericsson continues its strategy to monetize the telecom industry through the Global Network Platform for network APIs, with 12 partnerships announced.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

KGC

Kinross Gold has invested C$1.53 million in Relevant Gold, acquiring 5.1 million units as part of a strategic partnership.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:00 pm

GIB

CGI has acquired Celero's credit union business, expanding its managed services to over 90 credit unions nationwide. The acquisition includes new partnerships and the integration of more than 150 Celero employees into CGI's operations.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:00 pm