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MARA

Marathon Digital Holdings Inc (NASDAQ: MARA) shares are rising after the company reported a record Bitcoin production of 1,853 in December, totaling 12,852 for 2023. Marathon now owns over 15,000 Bitcoin and increased its operational hash rate by 18% to 22.4 exahashes. The company's acquisition of sites in Texas and Nebraska is expected to close in January 2024, which may improve cost structure and growth potential. Marathon ended the year with $1 billion in cash and Bitcoin. The stock is also reacting to the rise in Bitcoin's price, which was up 2.07% at $43,319.

Portfolio Pulse from Adam Eckert

January 04, 2024 | 1:44 pm

BABA

PDD

SE

Alibaba's e-commerce arm, Lazada, has begun a new round of layoffs across its Southeast Asian operations, with Singapore experiencing the most significant impact. The layoffs are expected to affect employees at all levels and could number in the hundreds. This move comes during a challenging period for Alibaba, which has seen a 75% drop in its share price since 2020, a $2.8 billion fine for alleged monopolistic practices, and the cancellation of its cloud unit's IPO.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 1:44 pm

NEE

SRE

XEL

Wall Street's top analysts recommend buying three energy stocks with high-dividend yields: NextEra Energy, Inc. (NEE), Sempra (SRE), and Xcel Energy Inc. (XEL). Citigroup and JP Morgan analysts have given NEE a Buy and Overweight rating respectively, with price targets of $69 and $67. SRE was upgraded from Neutral to Overweight by JP Morgan, with a price target increase from $78 to $86, while Barclays cut the price target from $78 to $76. XEL received an upgrade from Neutral to Buy by B of A Securities, with a price target increase from $58 to $66, although Barclays maintained an Equal-Weight rating and lowered the price target from $60 to $57.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:44 pm

LW

Lamb Weston Holdings, Inc. has reaffirmed its fiscal year 2024 net sales target of $6.8 billion to $7.0 billion, which is in line with the analyst estimate of $6.89 billion. Additionally, the company has raised its FY24 adjusted diluted earnings per share (EPS) target to $5.70-$6.15, up from the previous range of $5.47-$5.92. This updated EPS guidance is above the analyst estimate of $5.9.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:43 pm

TCBP

TC BioPharm (NASDAQ:TCBP), a clinical stage biotechnology company, has regained compliance with Nasdaq's minimum bid price requirement. The company's stock maintained a closing bid price of $1.00 or more for at least 10 consecutive business days, satisfying Nasdaq's condition for continued listing on the Nasdaq Capital Market. Previously, on June 22, 2023, TCBP was notified of non-compliance due to its stock price falling below the $1.00 threshold for 30 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:41 pm

OMGA

PTON

RPID

Omega Therapeutics (OMGA) stock surged 132% after announcing collaborations with Novo Nordisk for obesity and metabolic dysfunction-associated steatohepatitis treatments, with potential earnings up to $532M. Rapid Micro Biosystems (RPID) rose 55% as Samsung Biologics chose its Growth Direct platform for microbial quality control automation. Peloton (PTON) gained 10% on news of a partnership with TikTok for 'TikTokFitness Powered by Peloton', featuring live classes, original series, and celebrity collaborations.

Portfolio Pulse from ryanfaloona@benzinga.com

January 04, 2024 | 1:40 pm

SGN

Signing Day Sports, Inc. (NYSE:SGN) CEO Daniel Nelson provided a letter to stockholders highlighting the company's achievements in 2023 and its positive outlook for 2024. The company's IPO on the NYSE American exchange raised $6.0 million in gross proceeds. The funds will be used to grow the Signing Day Sports app, which aids high school athletes in the recruitment process. The company plans to increase direct digital marketing and leverage NIL opportunities for student-athletes. A collaboration with the U.S. Army Bowl showcased the app's capabilities. The appointment of Kevin Grogan as Senior Soccer Advisor and a partnership with EDP Soccer are expected to enhance the company's position in soccer recruitment. New AI initiatives are also being implemented to improve customer acquisition and the recruitment process.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:39 pm

LW

Lamb Weston Holdings (LW) reported Q2 adjusted earnings per share (EPS) of $1.45, surpassing the consensus estimate of $1.41 by 2.84%. Year-over-year, this represents a 13.28% increase from $1.28 per share. Quarterly sales reached $1.73 billion, exceeding estimates of $1.70 billion by 1.88% and marking a 35.63% increase from $1.28 billion in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:36 pm

EIGR

Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) announced a 1-for-30 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. The split will be effective on January 5, 2024, with post-split trading starting on January 8, 2024. The split was approved by stockholders and the Board on December 28, 2023, and will reduce outstanding shares from 44.4 million to approximately 1.5 million. Adjustments will be made to outstanding equity awards and the number of shares issuable under equity incentive plans.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:32 pm

INAB

IN8bio, Inc. (NASDAQ:INAB) reported positive clinical data for its gamma-delta T cell therapies, particularly INB-100, which showed durable complete remissions in leukemia patients. The company also presented promising data for INB-200 and INB-400 in treating glioblastoma multiforme (GBM). A private placement raised initial gross proceeds of $14.4 million, extending the cash runway into 2025, with the potential for additional capital. Dr. Corinne Epperly was appointed to the Board of Directors. IN8bio outlined its 2024 pipeline goals, including further trials for INB-100, INB-200, INB-300, and INB-400.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:31 pm