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NIO

NIO Inc (NYSE:NIO) shares rose 7.78% on Tuesday, influenced by broader China strength and productive talks between U.S. Treasury Secretary Janet Yellen and Chinese officials. New data showed a 35.3% year-over-year increase in China's new energy vehicle sales in March. Nio's FY23 revenue growth was 7.3%, with future performance potentially impacted by macroeconomic factors. Shares were down 2.12% at $4.61 at the time of publication.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 1:19 pm

MRMD

MariMed (OTCQX:MRMD) has acquired the operating assets of Our Community Wellness & Compassionate Care Center in Maryland, marking its second adult-use Thrive Wellness dispensary in the state. The company paid the state's adult-use conversion fee and received an adult-use license. The dispensary, closed since July 1, 2023, is expected to reopen for adult-use retail sales by the end of Q2, pending regulatory approvals. MariMed aims to maximize its footprint in Maryland, a high-growth market, and plans to seek additional dispensary acquisitions.

Portfolio Pulse from Nina Zdinjak

April 10, 2024 | 1:14 pm

GP

GreenPower Motor Company Inc. (NASDAQ:GP) announced plans to deliver 88 all-electric school buses in West Virginia in FY25, following a record number of deliveries in FY24. The company received an $18.56 million EPA grant for deploying zero-emission buses and charging infrastructure in seven West Virginia counties. GreenPower's production is expected to reach 50-60 buses per quarter by FY25 end. The commercial division also saw increased deliveries, with a 9% increase in EV Star deliveries and resumed deliveries to Workhorse.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:01 pm

RNW

ReNew Energy has surpassed 10 GW of gross renewable energy assets, making it one of the fastest clean energy companies to reach this milestone. In FY24, the company added 1.94 GW, bringing its revenue-generating capacity to 9.52 GW. ReNew, listed on Nasdaq as RNW, contributes about 10% to India's RE generation and plans to double its RE asset portfolio to 20 GW by 2027/28. The company's expansion is supported by a strong balance sheet of around $10.6 billion as of December 31, 2023. ReNew's growth aligns with India's goal to achieve 500 GW of non-fossil fuel energy capacity by 2030.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:40 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) has executed a term sheet with OncoX BioPharma, Inc. for the global licensing of its Oncology/Hematology products, expecting to receive $55M in licensing income and up to $50M in royalties. The deal includes clinical trial, registration, manufacturing, supply, and distribution rights for ABVC's pipeline, with the US FDA approving four INDs for various cancers. The partnership aims to leverage both companies' strengths to drive innovation and create value in the Oncology/Hematology sector.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:38 pm

NXL

Nexalin Technology, under CEO Mark White, has reported significant progress in 2023 and is poised for greater achievements in 2024, focusing on improving mental healthcare outcomes. The company announced positive clinical results for its Gen-2 tACS device in treating mTBI and PTSD among military veterans, and chronic insomnia in adults, with data published in the Journal of Psychiatric Research. Nexalin introduced the HALO™ Clarity and the Virtual Clinic, aiming to enhance treatment accessibility. The company has formed a military and government advisory board, received regulatory approval in Oman, and is pursuing FDA approval in the US. Nexalin's IP portfolio has been strengthened with new patents extending through 2040, covering its core technology and the HALO™ Clarity system.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:36 pm

SPY

The US Core Consumer Price Index (CPI) for March reported a year-over-year increase of 3.8%, which is slightly above the estimated 3.7% but matches the prior month's figure of 3.8%.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:31 pm

SPY

The USA Consumer Price Index (CPI) for March increased by 0.4%, exceeding the estimated 0.3% and matching the prior month's increase of 0.4%.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:30 pm

SPY

President Biden announced plans to issue an executive order to limit asylum-seekers at the southern border, using Section 212(f) of the Immigration and Nationality Act. This move, aimed at addressing rising voter anger over border issues, does not require congressional approval. The decision is controversial, with internal debates about its legality and political implications.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:21 pm

PRPH

ProPhase Labs, Inc. (NASDAQ:PRPH) is set to launch its BE-Smart test for esophageal cancer detection in H2 2024. The test aims to provide early and cost-effective detection of esophageal adenocarcinoma (EAC), targeting a market size of $7 billion to $14 billion. The company is collaborating with mProbe Inc. and institutions like the Mayo Clinic for validation studies. The BE-Smart test, developed over six years, uses sophisticated proteomics for early detection and risk stratification of EAC, a cancer with high mortality rates. ProPhase plans to submit documentation for Advanced Diagnostic Laboratory Test (ADLT) application and aims for commercial launch following CPT code approval.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:09 pm