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META

TCEHY

Meta Platforms Inc. (NASDAQ:META) has reportedly signed an initial agreement with Tencent Holdings Ltd. (OTC:TCEHY) to re-establish its presence in the Chinese market after 14 years. The collaboration aims to launch a cost-effective model of Meta’s virtual reality headset by the end of 2024, which will be exclusively sold by Tencent in China. The agreement is a significant move for Meta, which has been trying to re-establish its business in China for years.

Portfolio Pulse from Ananya Gairola

November 10, 2023 | 5:47 am

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares dropped over 25% after the company raised concerns about its ability to continue operations. The company's Q3 report showed a deficit of $3.8 billion, negative cash flows, and net losses. The company's existing cash and securities will not be sufficient to fund operations for the next 12 months. The company's Q3 net revenue and net loss also missed consensus estimates.

Portfolio Pulse from Shanthi Rexaline

November 10, 2023 | 5:40 am

INDV

NLCP

NVACF

Nova Cannabis Inc., Indivior PLC, and NewLake Capital Partners have released their Q3 2023 financial results. Nova Cannabis reported record revenue and gross margin growth, with shares trading up 12.65%. Indivior reported strong financial performance led by Sublocade growth, despite shares trading down 8.84%. NewLake Capital Partners reported financial results in line with expectations, with shares trading up 1.94%.

Portfolio Pulse from Joana Scopel

November 10, 2023 | 2:47 am

BTCUSD

DOGEUSD

ETHUSD

Ethereum (ETH) outperformed Bitcoin (BTC) with an 11% gain compared to Bitcoin's 2.1% gain, following BlackRock Inc's filing for a spot Ether ETF. The ETF is set to be benchmarked against the CME CF Ether-Dollar Reference Rate. Meanwhile, Dogecoin (DOGE) was down by 2.74%. Federal Reserve Chair Jerome Powell's remarks, perceived as hawkish, led to a fall in stocks and bonds, while the dollar rallied. Cryptocurrency trader Michaël van de Poppe suggested that dips in cryptocurrency prices are likely and should be used for entries.

Portfolio Pulse from Shivdeep Dhaliwal

November 10, 2023 | 2:41 am

COR

WBA

Cencora, Inc. (NYSE:COR) has agreed to repurchase its common stock from Walgreens Boots Alliance Holdings LLC for approximately $250 million. The repurchase is concurrent with Walgreens Boots Alliance's entry into certain variable pre-paid forward transactions. The repurchased shares will be held in Cencora's treasury.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:19 am

CLW

Clearwater Paper Corporation (NYSE:CLW) has temporarily suspended certain manufacturing operations at its Lewiston, Idaho facility due to an incident impacting the regional natural gas system. The company expects to resume operations in the coming days.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:15 am

MYNA

Mynaric (NASDAQ:MYNA) has updated its FY23 guidance, expecting IFRS-15 revenue to remain around the same level as 2022 revenue of €4.4M, contrary to previous guidance of a significant increase. The company also expects more than 500 units in backlog by the end of 2023, and full-year 2023 guidance of more than EUR 30 million for cash-in from customer contracts. The guidance decrease is due to the production delay of CONDOR Mk3 that was previously scheduled to start in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:12 am

HUT

Hut 8 Mining Corp. (HUT) has announced that the registration statement on Form S-4 for its proposed merger with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (USBTC) has been declared effective by the SEC. The combined company will be named Hut 8 Corp. and will be a U.S.-domiciled entity. The common stock of the new entity is expected to be listed on the Nasdaq and the Toronto Stock Exchange under the ticker symbol HUT. The transaction is expected to close by November 30, 2023, subject to USBTC stockholder approval and other customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:09 am

SRFM

Surf Air Mobility Inc. (NYSE:SRFM) has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission, registering up to 300 million shares of Common Stock. This is part of the company's Share Subscription Facility with GEM, under which it has access to a total of $400 million. The company currently has $392.5 million remaining under this agreement. The registered shares will be used to request advances under the share subscription facility and satisfy other current obligations to register shares previously issued to GEM.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:07 am

LAC

Lithium Americas Corp. (LAC) has provided an update on its Thacker Pass lithium project, including Q3 2023 financials. The company had approximately $275.5M in cash and cash equivalents as of October 3, 2023. Major earthworks and detailed engineering continue to advance in preparation for major construction to commence in 2024. The company is also in negotiations with the U.S. Department of Energy for the Advanced Technology Vehicles Manufacturing Loan Program, which could fund up to 75% of capital costs for construction of Phase 1. The construction budget for the second half of 2023 is $145 million, of which $51.1 million was spent in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:02 am