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Bloom Energy (NYSE:BE) and SK ecoplant have extended their Preferred Distributor Agreement, with SK ecoplant committing to purchase 500 MW of Energy Servers from Bloom Energy through 2027. The deal is expected to generate around $1.5 billion in product revenue and $3 billion in service revenue over 20 years for Bloom Energy. The partnership, which began in 2018, has already seen the deployment of 400 MW and aims to strengthen market leadership in power generation and the global hydrogen economy. SK ecoplant has also invested approximately $566 million in Bloom Energy, owning about 10% of the company's shares.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:02 pm

RMCO

Royalty Management Holding (RMCO) announced that Ferrox Holdings has started production of titanium ferrite at its Tivani site, with the first delivery of 100 metric tons of run of mine titanium ferrite.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:00 pm

AAPL

AMZN

BRK.A

DIS

MSFT

NKE

TSLA

Cryptocurrencies like Dogecoin, SHIB, and Solana are experiencing significant market movements. Tesla is recalling 120,000 Model S and X EVs due to door issues. Nike and NetEase stocks moved lower in pre-market trading. US markets are optimistic with Dow jumping over 300 points. US and world politics are active with developments in US-China relations and Trump's potential 2024 run. The US economy sees criticism from Peter Schiff regarding Q3 GDP. In tech, Apple and Microsoft face challenges, while Tencent is hit by new regulations. The EV sector is highlighted by Tesla's recall and bullish predictions. GM recalls Chevrolet Bolt EVs. Amazon and Disney face challenges in communication, while Boeing resumes 787 deliveries to China. US banks may face significant losses in real estate, and Berkshire Hathaway increases its stake in Occidental Petroleum.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 1:35 pm

OCAX

Powermers Smart Industries, Inc. (PSI) is set to go public through a business combination with OCA Acquisition Corp. (OCAX). The transaction is expected to close in 2024, with the combined company to be listed on Nasdaq under the symbol PSII. PSI focuses on green-powered technology solutions for the commercial transportation and industrial equipment industries. The business model includes partnerships across the value chain, offering green equipment technology solutions and services. The pro forma equity value of the combined entity is estimated at $2 billion, with all PSI stockholders rolling their equity into the new company. The deal includes investments of up to $8 million in convertible promissory notes and an additional $2 million PIPE investment from OCAX's sponsor.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:34 pm

AUR

MARA

WULF

Four tech stocks with high Relative Strength Index (RSI) values, indicating potential overbought conditions, are Marathon Digital Holdings, Inc. (MARA), TeraWulf Inc. (WULF), DoubleVerify Holdings, Inc. (DV), and Aurora Innovation, Inc. (AUR). MARA recently acquired two Bitcoin mining sites, WULF announced production updates, DV announced a secondary offering, and AUR posted a Q3 loss. All stocks have seen significant price increases over the past month.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 1:32 pm

NKE

RKLB

RMCO

Royalty Management Holding Corporation (RMCO) and American Resources Corporation's investment in Advanced Magnetic Labs, Inc. has led to the commercial manufacturing of permanent magnets, causing RMCO shares to surge by 201%. Rocket Lab (RKLB) shares jumped 24% after announcing a $515 million contract with a U.S. government customer to design, manufacture, deliver, and operate 18 space vehicles. Nike (NKE) shares fell by 12% following mixed Q2 financial results and the announcement of a plan to identify up to $2 billion in cost savings.

Portfolio Pulse from ryanfaloona@benzinga.com

December 22, 2023 | 1:23 pm

MULN

Mullen Automotive has announced a production milestone with the 100th Mullen Three, a Class 3 Cab Chassis Electric Truck, coming off the assembly line in Tunica, Mississippi. As of December 22, 2023, the company has completed 125 Mullen Three trucks.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:05 pm

DSNKY

MRK

The FDA has accepted and granted priority review to Daiichi Sankyo and Merck's joint Biologics License Application for patritumab deruxtecan, a treatment for EGFR-mutated non-small cell lung cancer.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:04 pm

PETV

PetVivo Holdings has signed a distribution agreement with Covetrus North America for its veterinary medical device, Spryng with OsteoCushion Technology. Covetrus will handle inventory, marketing, and promotion of Spryng across the United States.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:03 pm

SEEL

Seelos Therapeutics' CEO Raj Mehra released a letter to stockholders discussing the company's recent reverse stock split and public offering, compliance with Nasdaq's minimum bid price requirement, and updates on their lead programs SLS-002 and SLS-005. SLS-002 was selected for a DOD-funded trial for PTSD treatment, retaining commercial rights. SLS-005 showed potential in a Phase IIb/III study for Spinocerebellar Ataxia. The company is seeking partnerships and has two proposals for the upcoming Special Meeting of Stockholders on January 10, 2024, including increasing authorized shares to 400 million and issuing more shares to Lind Partners under a convertible note.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:03 pm