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OXY

XOM

Saudi Aramco and ADNOC are venturing into lithium production from brine in their oilfields to diversify and meet the growing demand for EVs, similar to Exxon Mobil's efforts in Arkansas. Despite a profit decline, Aramco increased its dividend payout. The long-term prospects for lithium remain promising despite recent price drops. Gulf companies are exploring eco-friendly Direct Lithium Extraction (DLE) technologies, avoiding traditional, environmentally harmful methods. Exxon Mobil and Occidental Petroleum are also investigating DLE technologies.

Portfolio Pulse from Stjepan Kalinic

March 12, 2024 | 3:00 pm

AMZN

zuMedia Inc. has filed a lawsuit against IMDb.com, Inc., owned by Amazon.com, Inc. (AMZN), in the Southern District of New York. The lawsuit seeks a judicial declaration that zuMedia's DMDb trademark does not infringe on IMDb's trademark and aims to cancel two of IMDb's trademark registrations. This legal action follows IMDb's opposition to the DMDb trademark registration, citing potential public confusion between the two trademarks. DMDb, launched in February 2023, is a platform providing information on various digital media and features a social media component and showcases Backskin.com, an innovative advertising platform.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:00 pm

ARM

INTC

Arm Holdings Plc's stock has seen a significant increase since its September debut, driven by high demand for semiconductors in AI computing. With the expiration of a six-month lockup period, there's speculation about potential insider sales. SoftBank, holding a 90% stake in Arm, has not disclosed its future share plans. Analysts are generally bullish on Arm's prospects despite potential volatility. Arm's collaboration with Intel Corp on custom silicon and foundry services is also highlighted.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 3:00 pm

NTHI

NEONC TECHNOLOGIES HOLDINGS, INC (NASDAQ:NTHI) is set to IPO on March 13, offering shares priced between $11.25 and $13.75 with a 180-day insider lock-up period ending on September 09, 2024. The company focuses on developing new drugs for diseases like melanoma, breast, and lung cancer.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:00 pm

RAN

RanMarine Technology B.V. (NASDAQ:RAN) is set to IPO on March 13, offering shares at $5.50 each with a 180-day insider lock-up period ending on September 09, 2024. The company specializes in autonomous surface vessels for cleaning water pollutants and collecting water quality data.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 3:00 pm

NVDA

NVIDIA shares are trading higher, driven by the ongoing momentum in artificial intelligence (AI) technologies.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:58 pm

GUTS

NVO

Fractyl Health Inc (NASDAQ:GUTS) released promising preclinical data for RJVA-001, a GLP-1 gene therapy candidate for treating obesity and T2D. The therapy showed durable effects in lowering blood sugar and body weight in a mouse model, moving closer to IND enablement. Novo Nordisk's (NYSE:NVO) semaglutide, a current treatment for weight loss and diabetes, is mentioned for comparison. Fractyl Health plans to progress RJVA-001 through toxicity studies in 2024 and start human trials in 2025. GUTS shares dropped 10.9% to $7.06.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 2:53 pm

CLSK

High-rolling investors have shown a bullish sentiment on Cleanspark (NASDAQ:CLSK), with options trading activity indicating a price target range of $5.0 to $37.0. The trading activity includes a significant volume of calls compared to puts, suggesting an optimistic outlook among investors. Cleanspark, a bitcoin mining company, has seen its stock price increase by 0.95% to $17.07. Analysts have a consensus target price of $26.33 for CLSK, with ratings from Chardan Capital and HC Wainwright & Co. maintaining a Buy position.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:45 pm

BABA

EBIZ

ONLN

Alibaba Group Holding Ltd (NYSE:BABA) is investing approximately $640 million in Hong Kong's creative industries over the next five years, aiming to boost its media and entertainment division amidst intense competition. This follows a significant sales increase in its unit, attributed to China's strong box office performance. Alibaba is also enhancing staff incentives by merging stock options with cash rewards, starting April 1, 2024, to improve employee earnings' certainty and liquidity. The stock rose over 2% on Tuesday. Competitor JD.com Inc (NASDAQ:JD) increased salaries for its retail division last year. Alibaba can be accessed through ProShares Online Retail ETF (NYSE:ONLN) and Global X E-Commerce ETF (NASDAQ:EBIZ).

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 2:43 pm

DIS

FOXA

NFLX

WBD

Disney CEO Bob Iger acknowledged Netflix's superior technology in streaming, despite Disney+'s subscriber growth. Disney aims for streaming profitability by September, emphasizing the importance of Disney+, Hulu, and ESPN+. The company is finalizing its Hulu stake buyout from NBCUniversal and has consolidated U.S. sports rights with Fox Corporation and Warner Bros Discovery. Iger highlighted the need for Disney to adopt Netflix's technology to reduce costs and improve margins. Disney's diverse business includes parks, movies, TV, streaming, and a new venture into gaming with a $1.5 billion investment in Epic Games.

Portfolio Pulse from Upwallstreet

March 12, 2024 | 2:22 pm