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CLSK

CleanSpark Inc (NASDAQ:CLSK) announced the purchase of up to 160,000 Bitmain S21 Bitcoin miners, with an initial purchase of 60,000 units. The first batch is expected to be delivered between April and June, costing $193.2 million. The deal includes an option to buy an additional 100,000 miners at a fixed price until year-end. If exercised, CleanSpark's hashrate could increase from 10 EH/s to approximately 50 EH/s. CEO Zachary Bradford sees this as a strategic move to enhance operational efficiency and hedge against price increases. CleanSpark shares dropped 4.41% to $9.72 following the announcement.

Portfolio Pulse from Adam Eckert

January 08, 2024 | 3:06 pm

UBER

HERE Technologies has been selected by Uber to be a global location provider, aiming to enhance mapping and geolocation capabilities for the ride-hailing service. This partnership is expected to improve the accuracy and efficiency of Uber's services by leveraging HERE's mapping technology.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:06 pm

MULN

Mullen Automotive, Inc. has submitted a Concept Paper to the DOE for grant funding to support domestic battery materials processing. The company plans to produce 150,000 battery packs by 2032 and seeks a $50 million grant for capital investment in its new Fullerton, California facility. This initiative is part of a broader $3.5 billion program to strengthen U.S. battery material manufacturing and aims to reduce battery costs by over 20%, enhancing Mullen's competitiveness in the EV market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:46 pm

AAPL

Apple Inc (NASDAQ:AAPL) shares are trading higher after announcing the release date for its new Vision Pro headset. Pre-orders begin on January 19, with availability in U.S. stores starting February 2. The device is priced at $3,499, with additional accessories available for purchase. CEO Tim Cook touted the device as a revolutionary step in spatial computing. However, Apple faces challenges with a 30% drop in iPhone sales in China during the first week of 2024 and a 3% decline in 2023, attributed to competition from local manufacturers like Huawei.

Portfolio Pulse from Adam Eckert

January 08, 2024 | 2:44 pm

GRMN

Garmin (NYSE:GRMN) has announced a partnership with Yamaha Motor to provide infotainment systems for select Yamaha motorcycles and smart scooters. These systems will feature Bluetooth connectivity, media integration, and enhanced navigation, supporting Yamaha's Connected Vision program for vehicle connectivity. Garmin's Automotive OEM solutions have been integrated into Yamaha's TMAX motorcycle, XMAX scooter, NIKEN GT, and Tracer 9 GT+ motorcycle. Garmin's experience in various segments like automotive, avionics, and marine is leveraged to develop these solutions, and the company collaborates with several leading automobile manufacturers.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:44 pm

SOPH

SOPHiA GENETICS has announced a collaboration with Exactis Innovation to enhance cancer research in Canada through multimodal data analytics. Exactis will join the SOPHiA DDM Network and utilize the platform to access data insights from multimodal datasets.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:38 pm

SMMT

Summit Therapeutics Inc. (NASDAQ:SMMT) presented updated Phase II data for ivonescimab at the 42nd Annual J.P. Morgan Healthcare Conference. The data showed promising results in patients with non-small cell lung cancer (NSCLC), including a 24-month overall survival rate of 64.8% in first-line squamous NSCLC patients and a median overall survival of 22.5 months in second or third line EGFRm NSCLC patients. Summit is advancing ivonescimab into two global Phase III clinical trials and expects catalyst events in Q2 2024 for two randomized Phase III trials conducted by Akeso in China. Summit reported a preliminary unaudited balance of cash and investments of no less than $186 million as of December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:36 pm

CAT

CRH

Caterpillar has entered into an agreement with CRH to further the deployment of Caterpillar's zero-exhaust emissions solutions. This collaboration aims to enhance the sustainability efforts of both companies by reducing emissions in their operations.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:35 pm

AVNW

Aviat Networks, Inc. (NASDAQ:AVNW) has entered into a strategic collaboration with PT Smartfren Telecom Tbk to provide wireless connectivity and digitalization services for private networks in Indonesia. The partnership aims to capitalize on the growing market for private LTE and 5G networks, which is expected to reach $7.4 billion by 2027. Aviat, having recently acquired NEC's Wireless Transport Business, is now a leading provider in Indonesia and will supply equipment and services for Smartfren's private network offerings.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:34 pm

PRLB

Protolabs (NYSE:PRLB) has rebranded its manufacturing partner network from Hubs to Protolabs Network, offering expanded capabilities and a unified customer experience. The rebranding follows significant growth since acquiring the Amsterdam-based network in 2021, with an 80% year-over-year revenue increase in Q3 2023 through the network. The Protolabs Network, with over 250 partners, aims to provide resources for the entire product life cycle, offering benefits like tighter tolerances, enhanced finishing, and higher volumes at lower costs. The move emphasizes a hybrid digital manufacturing model that combines Protolabs' internal capabilities with the global network.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:31 pm