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ENCP

Energem Corp. announced shareholder approval for a business combination with Graphjet Technology Sdn. Bhd. The combined entity will be named GRAPHJET TECHNOLOGY and plans to list on Nasdaq under the ticker 'GTI'. The merger, approved by 80.162% of voting Energem shareholders, is expected to close around March 6, 2024. Graphjet Technology owns patented technology for recycling palm kernel shells into products for various industries.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:57 pm

CAT

Recent options trading activity for Caterpillar (NYSE:CAT) shows a bearish sentiment among investors, with 61% of trades being bearish. Notable trades include a mix of puts and calls with varying sentiments and expiration dates. Caterpillar's current market position is slightly down with a price of $326.5, and professional analysts have mixed ratings on the stock, with target prices ranging from $257 to $385. The company is a leading manufacturer of heavy equipment and has a significant global dealer network.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 8:45 pm

XTKG

X3 Holdings shares surged following the announcement of signing a term sheet for multi-year purchase agreements with a top supplier of bitcoin mining equipment. This move is expected to significantly bolster X3 Holdings' position in the cryptocurrency mining industry.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:31 pm

ICAD

iCAD shares are trading higher following the announcement of a new release for its AI-powered ProFound Detection solution, indicating positive market reception to the company's innovation in AI technology.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:26 pm

AAPL

ETHUSD

Jim Cramer, known for his fluctuating stance on cryptocurrency, hinted at a bullish outlook for Ethereum (ETH) on CNBC's 'Squawk On The Street.' He suggested that the approval of spot Bitcoin ETFs could lead to similar outcomes for Ethereum ETFs, potentially spurring another crypto market rally. Cramer's comments also included a controversial suggestion to swap Apple stock for Ethereum, citing the potential for Ethereum's value to only go up with the anticipation of ETF approval. This marks a significant shift from his previous cautious stance on crypto, following his sale of crypto holdings in 2021.

Portfolio Pulse from Adam Eckert

February 28, 2024 | 8:20 pm

HE

Hawaiian Electric has postponed the launch of its new solar and energy storage programs by one month to April 1, to allow for further refinements. The 'Bring Your Own Device' incentive program will replace the existing Battery Bonus Program.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 8:19 pm

FULC

Fulcrum Therapeutics (NASDAQ:FULC) received mixed analyst ratings with an updated average 12-month price target of $11.00, marking an 18.92% increase from the previous target. Analysts from HC Wainwright & Co., Piper Sandler, and Goldman Sachs have raised their price targets, reflecting optimism in the company's prospects despite its financial challenges, including a significant revenue decline and a net margin of -3164.3%. The company's focus on developing treatments for muscular dystrophy and sickle cell disease positions it for potential growth.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 8:00 pm

LUNR

Intuitive Machines CEO announced that the Odysseus Lander is expected to go into sleep mode in 5 hours due to degrading power levels, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:57 pm

SONY

UMGNF

WBD

Universal Music Group NV (UMGNF) is in a dispute with TikTok over music rights, leading to the removal of songs from artists like Harry Styles and Coldplay from the platform. The disagreement centers on payment and AI music use protections. Universal's catalog represents 20-30% of TikTok's popular music. Negotiations with TikTok have stalled, unlike TikTok's successful deals with Sony Group Corp. (SONY) and Warner Bros. Discovery Inc's Warner Music Group (WBD).

Portfolio Pulse from Franca Quarneti

February 28, 2024 | 7:47 pm

LI

Li Auto reported that BYD plans to choose a location in Mexico for a new factory by the end of the year, aiming for a production capacity of 150,000 autos annually. Mexican officials have shown a positive response to BYD's intentions to sell in the Mexico market, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:45 pm