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TSLA

Tesla Inc is expanding its charging network by planning the world's largest Supercharger station in Kern County, California, with 164 charging stalls, including 16 pull-through stalls and solar canopies. This move aligns with Tesla's strategy to integrate solar power into its charging networks, aiming for a sustainable transportation ecosystem and catering to the needs of drivers with trailers or larger vehicles.

Portfolio Pulse from Benzinga EV Insights

February 13, 2024 | 10:11 pm

PARA

Super Bowl LVIII, featuring the Kansas City Chiefs vs. San Francisco 49ers, set a viewership record with 123.4 million average viewers, a 7% increase from the previous year, and was broadcasted by CBS, Nickelodeon, and streamed on Paramount+. Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA) reported that 202.4 million people watched at least part of the game, making it the most-streamed Super Bowl in history. Despite this, the Apollo 11 Moon Landing in 1969 remains the most watched telecast in American history with estimates of 125 to 150 million viewers.

Portfolio Pulse from Chris Katje

February 13, 2024 | 10:05 pm

SGML

Sigma Lithium (NASDAQ:SGML) has received a letter of intent from the Development Bank of Brazil (BNDES) for additional funding for its Grota do Cirilo lithium project in Brazil. The company plans to invest $100 million in a second processing plant to double its output. The project, which has received full environmental licensing, aims to become the world's fourth-largest lithium mining complex. Despite a recent downturn in lithium prices, Sigma remains optimistic about its strategic position and its focus on sustainable lithium production.

Portfolio Pulse from Stjepan Kalinic

February 13, 2024 | 9:56 pm

LRMR

Larimar Therapeutics, Inc. (LRMR) announced a proposed underwritten public offering of its common stock and pre-funded warrants. The offering includes a 30-day option for underwriters to purchase an additional 15% of the securities. The offering's completion, size, and terms are subject to market conditions. Leerink Partners, Citigroup, and Guggenheim Securities are the joint bookrunning managers, with LifeSci Capital as the lead manager. The proceeds are intended for the development of nomlabofusp (CTI-1601), other pipeline candidates, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:54 pm

CDXS

Codexis, Inc. (CDXS) has secured a strategic financing deal worth up to $40 million with Innovatus Capital Partners to strengthen its cash position and support the development and commercialization of its ECO Synthesis manufacturing platform for RNAi therapeutics. The deal includes $30 million upfront and an additional $10 million upon reaching certain revenue thresholds. This financing is expected to extend Codexis' cash runway through the end of 2026 and support the creation of an ECO Synthesis Innovation Lab for siRNA production.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:47 pm

CGC

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California's AB 2223, introduced by Assembly Member Cecilia Aguiar-Curry, aims to revolutionize the state's cannabis and hemp sectors by allowing cannabis licensees to sell or incorporate products containing industrial hemp, subject to strict regulatory oversight. The bill seeks to establish a clear definition of "synthetically derived cannabinoid" and proposes stringent THC thresholds for hemp-derived products. This legislation could significantly impact California-based cannabis companies by expanding the marketplace while ensuring product safety and legal integrity.

Portfolio Pulse from Patricio Liddle

February 13, 2024 | 9:43 pm

HOOD

Robinhood Markets (NASDAQ:HOOD) reported Q4 earnings with a revenue of $471 million, up 24% YOY, beating estimates. EPS was 3 cents, surpassing expectations of a 1 cent loss per share. The company saw increases in transaction-based revenues, net interest, and cryptocurrency revenue. Funded customers grew to 23.4 million, and assets under custody rose to $102.6 billion. The full fiscal 2023 revenue was $1.87 billion, a 37% increase YOY, with a loss of 61 cents per share. Robinhood anticipates continued growth in 2024, focusing on new products, features, and international expansion.

Portfolio Pulse from Chris Katje

February 13, 2024 | 9:25 pm

AKAM

Akamai Technologies (NASDAQ:AKAM) announced its new initiative, Gecko, aiming to integrate cloud computing capabilities into its edge network, making it the world's most distributed cloud computing platform. Gecko is designed to bring workloads closer to users by leveraging Akamai's extensive edge network, enhancing performance and reducing latency for applications requiring high-speed data processing. This move aligns with increasing demand for distributed cloud services and positions Akamai to capitalize on emerging technology trends such as AI, gaming, and IoT. The initiative follows Akamai's acquisition of Linode and the expansion of its cloud computing regions, furthering its vision for a connected cloud that combines the power of cloud computing with the efficiency of edge networks.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:21 pm

AKAM

Akamai Technologies projects a revenue growth of 6%-8% for FY24, with specific growth in security revenue (14%-16%) and compute revenue (20%). The company anticipates a non-GAAP operating margin of 30%, non-GAAP net income per diluted share growth of 7%-11%, and a non-GAAP tax rate of 18.5%-19%. Capex is expected to be 15% of revenue, partly due to the Gecko product launch. These forecasts are based on constant foreign currency exchange rates as of December 31, 2023, and are provided on a non-GAAP basis.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:11 pm

HOOD

The financial outlook for 2024 includes growth investments in new products, features, and international expansion, with total operating expenses and Non-GAAP Adjusted Operating Expenses and SBC expected to be between $1.85 billion and $1.95 billion. The actual results may vary due to factors such as growth in Funded Customers, marketing costs, credit loss management, fraud prevention, and web-hosting expenses. The outlook excludes potential significant regulatory matters or other significant expenses.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:07 pm