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GROM

Grom Social Enterprises, Inc (NASDAQ:GROM), a Florida-based entertainment provider, has entered into a Letter of Intent to acquire Arctic7, a company specializing in game development, co-development, virtual production, and transmedia IP extension. This acquisition aims to broaden Grom's portfolio, complementing its family-friendly programming, web filtering technology, and safe social media for kids with Arctic7's gaming and virtual production capabilities. Arctic7 will operate as a division within Grom post-acquisition, focusing on delivering engaging experiences and exploring partnership opportunities.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:16 pm

CAT

Truist Securities analyst Jamie Cook initiated coverage of Caterpillar Inc. (NYSE:CAT) with a Buy rating and a price target of $390, citing the company as a beneficiary of the AI wave and poised for growth during the 'decade of the infrastructure renaissance'. Despite record earnings in 2023, Cook believes there is more upside, highlighting Caterpillar's benefit from significant stimulus associated with infrastructure and energy transition, totaling over $2T in spend over the next 5-10 years. CAT shares rose by 0.53% to $343.34.

Portfolio Pulse from Priya Nigam

March 14, 2024 | 3:13 pm

ENPH

FSLR

NOVA

RUN

SEDG

Solar stocks are trading lower due to concerns that US solar factories might not be built because of cheaper imports from China. The subsidies provided are considered insufficient to counteract the cost advantage of Chinese imports.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:12 pm

RELL

Richardson Electronics, Ltd. (NASDAQ:RELL) has completed the first phase of the largest retrofit of ultracapacitors for pitch energy modules in North America, installing over 50,000 ULTRA3000® units. These modules, a replacement for toxic lead-acid batteries in wind turbines, offer environmental benefits and cost savings. The achievement supports the company's growth in the renewable energy market, with plans to expand globally.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:07 pm

CURLF

TLRY

Tilray and Curaleaf are expanding their presence in Europe, capitalizing on the rapidly growing cannabis market. Curaleaf announced a new supply agreement in the Czech Republic, while Tilray received approval for its first medical cannabis extract in Portugal. The European cannabis market surpassed €2 billion in 2023, with Germany, Czech Republic, Switzerland, and the Netherlands leading regulatory developments. The Benzinga Cannabis Capital Conference in Florida will further discuss these market dynamics.

Portfolio Pulse from Jelena Martinovic

March 14, 2024 | 2:58 pm

BBW

DKS

EGY

HEAR

Build-A-Bear Workshop, Inc. (BBW) reported better-than-expected Q4 EPS but missed on revenue, leading to a 15.7% stock increase. Other stocks also moved higher, including Turtle Beach Corporation (HEAR), VAALCO Energy, Inc. (EGY), DICK'S Sporting Goods, Inc. (DKS), and several others due to various positive financial results, acquisitions, and strategic moves.

Portfolio Pulse from Avi Kapoor

March 14, 2024 | 2:38 pm

NVVE

Nuvve Corporation has received a notice of allowance for its U.S. patent application 16/832,903, titled 'Multi-Technology Grid Regulation Service (For Charging Electric Vehicles)'. This development marks a significant milestone for Nuvve, emphasizing its commitment to innovation in electric vehicle (EV) charging solutions and grid services.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 2:33 pm

CMG

Recent options market activity indicates a bearish sentiment towards Chipotle Mexican Grill (NYSE:CMG), with a notable split in sentiment among high-rolling investors. Benzinga's options scanner revealed 9 significant trades, showing a mix of bullish and bearish positions, with a target price range from $1490.0 to $4000.0. Despite this, Chipotle remains a dominant player in the fast-casual sector, with $9.9 billion in sales and a strong presence in the US and abroad. The stock's current price is $2722.69, with an RSI indicating it may be approaching overbought territory. Analysts have a mixed outlook, with an average price target of $9.0 and a specific underweight rating from Barclays targeting a price of $9.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 2:31 pm

SPY

VGK

Russian President Vladimir Putin has declared that developing a nuclear-powered unit for space exploration is a top priority for the country. This announcement underscores Russia's ambition to advance its space technology and maintain a competitive stance in space exploration and utilization.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 2:24 pm

GOOG

META

MSFT

OpenAI, backed by Microsoft Corp. (NASDAQ:MSFT), is under scrutiny for potentially violating data protection laws by using public social media posts to train its video generation model, Sora. OpenAI's CTO, Mira Murati, did not confirm if videos from platforms like YouTube, Facebook, and Instagram were used but mentioned the use of publicly available and licensed data. This has raised concerns about privacy law violations, including GDPR and CCPA, especially since OpenAI lacks a mechanism to remove data from Sora's model weights. The Italian regulator has found OpenAI in violation of data protection regulations.

Portfolio Pulse from Rounak Jain

March 14, 2024 | 2:11 pm