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TTI

Tetra Technologies Inc (TTI) has raised its Q2 2023 expectations due to strong operational performance. The company benefits from its industrial calcium chloride business, offshore completion fluids activity, and improved Water and Flowback Services margins. TTI expects revenues at the high end of the previously guided range of $165 million-$175 million, and net income to be above $11.5 million-$13.5 million. The company has also started a lithium feed study and plans to optimize the lithium plant design.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 12:29 pm

PFE

Pfizer Inc and Samsung Biologics have signed two agreements for the long-term manufacturing of Pfizer's multiproduct biosimilar portfolio, worth $897 million. The deals include a $193 million deal and a $704 million deal, making it Samsung Biologics' most significant single contract since its inception in 2011. Samsung Biologics will provide Pfizer with additional capacity for large-scale manufacturing for a multiproduct biosimilar portfolio covering oncology, inflammation, and immunology. The deals will last through 2029.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 12:24 pm

RIG

Transocean's stock has been upgraded from Neutral to Buy by Citigroup, with the price target raised from $6.5 to $9.5. This has resulted in a rise in Transocean's share price.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 12:24 pm

EFSH

IMPL

NCRA

VINE

Several stocks are experiencing significant pre-market movements. Nocera, Inc. (NCRA) surged 88.7% after announcing plans to acquire Zhe Jiang Xin Shui Hu Digital Information, Ltd. Impel Pharmaceuticals Inc. (IMPL) gained 30.7% after being granted a U.S. Patent for a Parkinson's disease treatment. iMedia Brands, Inc. (IMBI) rose 27.4% after receiving a second Nasdaq non-compliance notice. On the losing side, 1847 Holdings LLC (EFSH) fell 40.5% after pricing a public offering, and Fresh Vine Wine, Inc. (VINE) fell 21.9% after a significant jump on Monday.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 12:22 pm

COIN

Piper Sandler has downgraded Coinbase Global's stock from Overweight to Neutral and lowered the price target from $65 to $60. This has resulted in Coinbase Global shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 12:19 pm

MULN

Mullen Automotive (NASDAQ:MULN) has hired Christian Attar, formerly known as Christian Levine Law Group, and Warshaw, Burstein, LLP, to investigate potential illegal naked short selling of its common stock. The company believes it may have been the target of a market manipulation scheme. Christian Attar and Warshaw Burstein have previously successfully prosecuted and collected damages from entities engaged in such market manipulation schemes.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:16 pm

CTV

Innovid Corp. (NYSE:CTV) has regained compliance with the NYSE's continued listing standards for minimum share price under Section 802.01C of the NYSE Listing Company Manual. The company was previously not in compliance due to its average closing price being less than $1.00 per share over a 30 trading-day period. As of June 30, 2023, the company's average stock price had a closing share price of at least $1.00.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:11 pm

SDC

SmileDirectClub has received approval from the Nasdaq Hearings Panel for its compliance plan to meet the minimum bid price deficiency. This comes after the company's stock price fell below the minimum $1.00 per share requirement for continued listing on the Nasdaq Stock Market.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 12:10 pm

TRSSF

TerrAscend Corp. (OTCQX:TRSSF) (TSX:TSND) has started trading its common shares on the Toronto Stock Exchange under the ticker symbol 'TSND'. The company believes this will provide greater access to a broader group of investors. Additionally, TerrAscend has closed its third and final tranche of private placements, raising approximately $21 million in total.

Portfolio Pulse from Vuk Zdinjak

July 05, 2023 | 12:10 pm

AMD

AVGO

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) expects a significant revenue rebound in the second half of the year, driven by the launch of new Apple iPhones and strong demand for AI chips from Nvidia, Broadcom, and AMD. The AI sector has seen a boost with companies like Alphabet's Google and Amazon entering the race. Nvidia has placed additional orders at TSMC, expecting Q2 revenue of $11 billion. Broadcom's AI-related customized chips have also seen increased orders from Google and Meta Platforms.

Portfolio Pulse from Anusuya Lahiri

July 05, 2023 | 12:09 pm