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STEM

Stem, Inc. (NYSE:STEM) has announced that Mercuria Energy Trading has selected its Athena PowerBidder Pro application to optimize bid management for its first energy storage system in ERCOT. This software-only contract will enable Mercuria to leverage advanced analytics, price forecasting, and automation for trading strategies in the Texas power market. Stem's PowerBidder Pro, part of the Athena platform, offers real-time metrics, industry forecasts, and customizable trading strategies to enhance returns and manage risks for Mercuria's growing energy storage portfolio.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:53 pm

IKT

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) announced outcomes of its pre-NDA meeting with the FDA regarding IkT-001Pro, a prodrug of imatinib mesylate for treating blood and stomach cancers. The FDA's feedback was positive, suggesting no need for a formal risk analysis of medication errors and allowing the pursuit of all 11 indications previously approved for imatinib mesylate. The company plans further discussions with the FDA on cardiopulmonary applications of IkT-001Pro in April 2024. IkT-001Pro aims to be a safer alternative to imatinib, with potential benefits for patients with Stable-Phase Chronic Myelogenous Leukemia.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:51 pm

CDXS

Codexis projects its FY24 product revenue to be between $38M-$42M, excluding any revenue from PAXLOVID. Additionally, the company anticipates its R&D revenue to range from $18M-$22M.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:49 pm

MARA

Marathon Digital Holdings, Inc. (NASDAQ:MARA) has introduced Anduro, a new multi-chain layer-two network on Bitcoin, designed to expand Bitcoin's functionality and encourage its adoption. Anduro aims to facilitate the creation of sidechains for innovation within the Bitcoin ecosystem, with Marathon developing the first two sidechains, Coordinate and Alys. This initiative could potentially introduce a new source of fee revenue for Marathon and increase Bitcoin's adoption by enhancing its programmability and scalability.

Portfolio Pulse from Happy Mohamed

February 28, 2024 | 9:45 pm

AMC

AMC Entertainment Holdings reported Q4 financial results with a revenue of $1.1 billion, up 12% YOY, beating estimates. The company saw a loss of 54 cents per share, an improvement over the previous year and better than expected. Full-year revenue was $4.81 billion, up 23% YOY, with $425.8 million in EBITDA. Success was attributed to Taylor Swift and Beyonce concert films, which significantly contributed to Q4 revenue and EBITDA. AMC ended the year with $884.3 million in cash and is focusing on reducing debt and raising cash for 2024.

Portfolio Pulse from Chris Katje

February 28, 2024 | 9:38 pm

OKTA

Okta, Inc. (NASDAQ:OKTA) announced new executive appointments to strengthen its go-to-market team and drive growth. Eric Kelleher is promoted to President, Customer Experience & Communications, Ed Daly to Chief Customer Officer, and Christine Halvorsen joins as CTO, Public Sector. These moves underscore Okta's commitment to customer engagement and innovation, following the company's growth to over $2 billion in revenue and nearly 19,000 customers. The appointments aim to enhance customer experiences, brand loyalty, and identity security solutions.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:36 pm

SNOW

Snowflake (NYSE:SNOW) announced the retirement of CEO Frank Slootman and the appointment of Sridhar Ramaswamy as the new CEO. Ramaswamy, previously Senior VP of AI at Snowflake and co-founder of Neeva, will focus on accelerating Snowflake's AI strategy and innovation. Slootman will continue as Chairman of the Board.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:14 pm

BABA

BIDU

Baidu Inc (NASDAQ:BIDU) and Alibaba Group Holding Ltd (NASDAQ:BABA) are competing in China's tech sector with focuses on AI and cloud computing, respectively. Baidu, facing advertising challenges, is venturing into AI and autonomous driving, while Alibaba shows strength in e-commerce and cloud computing but faces regulatory scrutiny. Both stocks have seen negative returns over the past year, but analysts predict potential upsides of 52.36% for BIDU and 45.42% for BABA.

Portfolio Pulse from Surbhi Jain

February 28, 2024 | 9:04 pm

ARQT

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) and Sato Pharmaceutical Co., Ltd. have entered into a strategic collaboration and licensing agreement for the development, manufacture, and commercialization of topical roflumilast in Japan. Arcutis will receive a $25 million upfront payment and is eligible for up to $40 million in milestone payments, plus tiered double-digit royalties. The agreement expands the market for Arcutis's steroid-free treatments for skin conditions in Japan.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:03 pm

BTCUSD

Edward Snowden predicts a national government will be revealed as a Bitcoin buyer this year, emphasizing Bitcoin's role as a modern replacement for gold. His support for Bitcoin is well-documented, including a recent poll showing 43.3% of his followers own Bitcoin. Despite only El Salvador using Bitcoin as legal tender, its acceptance as a payment method is growing globally. Bitcoin's price has rallied past $60,000, with predictions reaching up to $200,000.

Portfolio Pulse from Ivan Crnogatić

February 28, 2024 | 9:01 pm