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MUSQ

SONO

SPOT

Spotify and Sonos reported financial results exceeding expectations, with Spotify adding significantly more users than forecasted and Sonos beating earnings guidance despite a sales drop. Both companies saw their stock prices increase following the announcements. The MUSQ Global Music Industry ETF, which includes Spotify, Sonos, Amazon, and Apple among its holdings, offers investors exposure to the music industry.

Portfolio Pulse from Johnny Rice

March 07, 2024 | 1:30 pm

STIM

Neuronetics has entered into a 5-year exclusive partnership with Transformations Care Network, aiming to expand access to mental health treatments. This collaboration is expected to leverage Neuronetics' technological advancements in mental health treatment solutions.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:24 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) saw its stock rise by 2.63% in premarket trading to $11.32, outperforming its industry peers. This surge is attributed to the anticipation of its second-generation, more affordable R2 platform electric vehicle launch event scheduled in Laguna Beach, California. The R2 platform aims to attract price-sensitive customers amid slowing EV adoption, competing directly with Tesla's Model Y SUV with a price range of $45,000 to $50,000, a 300-mile range, and a 0-60 mph acceleration time of three seconds. This comes as Rivian has faced challenges, including softer demand and production ramp-up issues, contributing to a significant loss per EV sold in 2023.

Portfolio Pulse from Shanthi Rexaline

March 07, 2024 | 1:21 pm

NAAS

NaaS Technology has formed a strategic partnership with CATARC New Energy Vehicle Test Center to create a global 'charging ecosystem' for electric vehicles (EVs). This partnership aims to enhance the charging station accessibility and overall charging experience for China's EVs through the integration of digital technologies and AI innovations.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:18 pm

MPLN

MultiPlan Corporation (NYSE:MPLN) announced Jerry Hogge as the new Executive Vice President, Chief Operating Officer (COO). Hogge brings over 30 years of experience in operational and commercial leadership within healthcare and telecommunications. His appointment is part of MultiPlan's aggressive growth strategy, focusing on operational efficiency, expanding market share, and integrating acquisitions. CEO Travis Dalton highlighted Hogge's alignment with the company's goals for growth and innovation.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:18 pm

BGXX

Bright Green Corporation (BGXX) has submitted its DEA Registration for the production of Schedule I and II Controlled Substances, following approval from the New Mexico Board of Pharmacy. This move is part of its expansion into the legal manufacturing of plant-based controlled substances for medical, research, and other legal purposes. The company aims to contribute to the 'Drugs Made in America' movement by providing a domestic supply of essential medications, thus addressing the national security risk posed by the U.S.'s dependency on imports.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:16 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) has announced the creation of a wholly-owned subsidiary focused on advancing intellectual property within the AI healthcare ecosystem. This move aims to safeguard current and future product offerings and enhance shareholder value by developing or acquiring IP specifically in healthcare. The initiative will be closely collaborated with a leading expert in IP monetization, who is also the company's largest shareholder and board member.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:15 pm

UAL

United Airlines announced an expansion of its global route network, introducing new non-stop flights from New York/Newark to Marrakesh, Morocco; Tokyo/Narita to Cebu, Philippines; and Houston to Medellin, Colombia. United will be the only U.S. airline offering direct flights to Marrakesh and Cebu and will commence non-stop service to Medellin for the first time. The expansion includes increased flights to Hong Kong, Seoul, South Korea, and Porto, Portugal, and the resumption of Los Angeles-Shanghai service. United's international network now spans 134 destinations in 67 countries, with unique flights to off-the-beaten-path locales. Tickets for new Shanghai and Cebu flights are available now, with Marrakesh and Medellin tickets to be released later this year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:11 pm

BYRN

Byrna Technologies Inc. (NASDAQ:BYRN) announced preliminary Q1 2024 revenues of $16.7M, surpassing the $15.64M estimate and marking a 98% year-over-year increase. This growth, attributed to a successful celebrity endorsement program, represents a record quarter for the company. Sales through Byrna's website and Amazon.com saw significant increases, alongside growth in dealer, Fox Labs, and international sales. Management remains cautiously optimistic about maintaining growth throughout 2024.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:10 pm

NTRA

Natera, Inc. has announced that a leading Blue Cross Blue Shield (BCBS) plan will now provide commercial coverage for its Prospera Kidney and Prospera Heart tests. This development marks a significant milestone for Natera, potentially increasing the adoption and usage of these tests in clinical settings.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:09 pm