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BABA

ONLN

PGJ

Alibaba Group (NYSE:BABA) and its logistics subsidiary, Cainiao, announced the withdrawal of Cainiao's IPO application on the Hong Kong Stock Exchange and proposed a $3.75 billion share purchase from Cainiao's minority shareholders. Alibaba aims to integrate Cainiao more closely with its e-commerce platforms to enhance strategic synergies and support global logistics expansion. Alibaba also temporarily halts its Ling Shou Tong platform for business adjustments but plans to continue existing orders and after-sales service. The stock is accessible through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and ProShares Online Retail ETF (NYSE:ONLN), with BABA shares up 0.39% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 26, 2024 | 1:15 pm

GHG

GreenTree Hospitality's shares experienced an increase following the announcement of their Q4 earnings.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:15 pm

PXD

Pioneer Natural Resources Inc. (NYSE:PXD) has seen its stock price increase by 0.05% in the current session, 10.46% over the past month, and 27.65% over the past year. Its P/E ratio of 12.78 is slightly higher than the industry average of 12.55, suggesting it might be overvalued. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 1:15 pm

MEMS

ZH

Zhihu Inc. (NYSE:ZH) shares rose in premarket trading after reporting a 2.2% year-over-year increase in Q4 sales to $160.3 million, with average monthly active users reaching 99 million and monthly subscribing members up 9.2% to 14.2 million. Gross profit rose 7.1% to $94.8 million, and gross margin expanded to 59.1%. The company also reported a narrowed quarterly adjusted loss per ADS of $(0.02) and had $769.4 million in cash and equivalents. Additionally, Zhihu repurchased 26.3 million Class A ordinary shares for $58.5 million. Despite a 38% loss over the past year, ZH shares are up 3.79% to $0.74 in premarket trading. Investors can also gain exposure to ZH through the Matthews Emerging Markets Discovery Active ETF (NASDAQ:MEMS).

Portfolio Pulse from Nabaparna Bhattacharya

March 26, 2024 | 1:15 pm

CELH

Celsius Holdings, Inc. (NASDAQ:CELH), the maker of CELSIUS® energy drinks, announced its expansion into Australia and New Zealand through a definitive manufacturing, sales, and distribution agreement with Suntory Oceania. This move is part of CELSIUS's strategy to grow its global sales and distribution footprint, targeting strategically important energy drink markets. The company expects to start sales in these new markets in Q4 2024, aiming to accelerate growth in 2025.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:13 pm

CHEK

Nobul AI Corp has agreed to acquire Check-Cap Ltd (NASDAQ:CHEK), with Nobul shareholders becoming the majority holders of the combined company. The merger aims to create a public company focused on an AI-driven fintech marketplace and enhancing traditional companies through AI, headquartered in Toronto, Canada. The combined entity plans to apply for listing on the NASDAQ and TSX, with Nobul's executive team leading the new company. The acquisition is seen as a strategic move to deliver value to shareholders and leverage Nobul's M&A expertise. Check-Cap, a clinical-stage medical diagnostics company, is known for developing C-Scan, a preparation-free colorectal cancer screening test.

Portfolio Pulse from Vandana Singh

March 26, 2024 | 1:13 pm

BLRX

BioLineRx shares are trading lower following the announcement of their FY23 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:13 pm

PRAX

Praxis Precision Medicines' stock price increased following the announcement of positive results from a Phase 2a proof of concept study for PRAX-628, aimed at treating epilepsy patients with PPR.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:09 pm

PAGS

PagSeguro Digital's stock price increased following an upgrade by Evercore ISI Group from In-Line to Outperform, with a raised price target from $12 to $18.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:07 pm

SMMT

Summit Therapeutics' stock price increased following Stifel's initiation of coverage with a Buy rating and a price target of $8.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 1:07 pm