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AUUD

LGVN

UCAR

Auddia Inc. (AUUD) shares surged 139% following the USPTO's award of U.S. Patent 11,935,520 for its AI technology in the faidr app, enabling ad-free AM/FM radio for subscribers. U Power (UCAR) shares rose 113% as it announced its battery-swapping model for electric vehicles is set for commercial rollout in Wuhu, China. Longeveron (LGVN) shares increased 119% after issuing a letter to shareholders outlining its corporate strategy and goals for 2024.

Portfolio Pulse from ryanfaloona@benzinga.com

April 08, 2024 | 12:44 pm

LGVN

Longeveron Inc. (NASDAQ:LGVN), a biotech firm, issued a shareholder letter from CEO Wa'el Hashad, marking his first year and outlining the company's strategy, clinical pipeline, and 2024 priorities. The letter emphasized the development of Lomecel-BTM, targeting Hypoplastic Left Heart Syndrome (HLHS) and Alzheimer's Disease, with significant advancements and designations from the FDA for HLHS. The company plans to focus on strategic collaborations, leveraging manufacturing capabilities, and efficient resource management. Longeveron highlighted the need for additional capital to continue operations beyond Q2 2024, mentioning a recent reverse stock split and SEC registration statement filing.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:44 pm

AZZ

GAST

MGMT

AZZ Inc. (NYSE:AZZ) has raised its FY25 sales and profit forecasts due to strong performance in several end markets. The company now expects sales between $1.525 billion and $1.625 billion, and adjusted EPS between $4.50 and $5.00. Adjusted EBITDA forecast has also been increased to $310 million - $360 million. AZZ plans to further deleverage by $60 million - $90 million and has seen a credit rating upgrade by S&P Global. The company focuses on organic growth in its Metal Coatings and Precoat Metals segments. AZZ shares rose 1.82% in premarket trading. Exposure to AZZ stock can also be gained through Ballast Small/Mid Cap ETF (NYSE:MGMT) and Gabelli Automation ETF (NYSE:GAST).

Portfolio Pulse from Lekha Gupta

April 08, 2024 | 12:43 pm

MULN

Mullen Automotive, Inc. (MULN) announces significant cost reduction and consolidation measures expected to save approximately $170 million over the next 12 months. The company is focusing on the commercial EV segment, aiming to sell 100 units in April, as part of its strategy to align with current market conditions and drive near-term revenue. These actions include prioritizing commercial programs, integrating engineering centers, and expanding the dealer network, aiming for long-term growth and improved financial results.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:43 pm

BSET

EGLE

S

Insider purchases at Eagle Bulk Shipping, SentinelOne, and Bassett Furniture Industries signal confidence in these companies. Eagle Bulk Shipping's merger with Star Bulk was approved, SentinelOne received a positive analyst rating, and Bassett Furniture reported downbeat quarterly sales.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 12:41 pm

CAUD

Collective Audience (CAUD) shares are trading higher following the announcement of its acquisition of DSL Digital. This acquisition will enable Collective Audience to launch AI-powered AudienceServices, expanding its capabilities and offerings in the digital services sector.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:41 pm

BTCUSD

XRPUSD

Ripple CEO Brad Garlinghouse predicts the cryptocurrency market cap could reach $5 trillion by 2024, driven by the launch of U.S. spot Bitcoin ETFs and the upcoming Bitcoin halving event. These developments, along with increased institutional investment, are expected to significantly impact the market dynamics. The first U.S. spot Bitcoin ETFs were approved on Jan. 10, and the Bitcoin halving event is set to occur later this month.

Portfolio Pulse from Murtuza Merchant

April 08, 2024 | 12:40 pm

JAGX

Jaguar Health, Inc. has been granted an extension until August 13, 2024, by Nasdaq to meet the $1.00 bid price requirement for continued listing. The company is also awaiting top line results from its Phase 3 OnTarget trial of crofelemer for the preventative treatment of cancer therapy-related diarrhea.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:40 pm

TPCS

TechPrecision Corporation (NASDAQ:TPCS) announced the termination of its agreement to acquire Votaw Precision Technologies from Doerfer Corporation, initially set on November 22, 2023. The termination occurred on April 2, 2024, after both parties failed to agree on terms for reinstatement and extension of the agreement. As a result, Doerfer expects TechPrecision to issue 320,000 shares to them as a termination fee. TechPrecision is currently reviewing the situation.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:39 pm

CAUD

Collective Audience, Inc. (NASDAQ:CAUD) is set to acquire DSL Digital, a Marketing-as-a-Service provider with proprietary AI technology, aiming to launch a new AudienceServices group. This acquisition will add a global customer base, an international services team, and AI-powered AdTech tools to Collective Audience's offerings. The deal, expected to close by the end of the current quarter, will be an all-stock transaction and is anticipated to generate significant revenue and positive EBITDA for Collective Audience.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:38 pm