Why Is Clarivate Stock Trading Higher Premarket Monday?

Clarivate Plc CLVT shares are trading higher after it launched the first publicly available version of Trademark Watch Analyzer at the 2024 International Trademark Association Annual Meeting. 

The solution, which is a next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, connects users to trademark datasets in 258 countries and territories in 191 official trademark registers and data from 7+ million trademark litigation cases.

Gordon Samson, President, Intellectual Property, Clarivate, said, “As the global business landscape grows more complex, trademark professionals are faced with challenges including more data, less context and shorter deadlines.” 

“Our advanced AI-driven solution enables clients to confidently monitor their trademarks anywhere in the world, with global monitoring and automated alerts, while also saving time, costs and critical resources. The launch of the Trademark Watch Analyzer is the latest example of our Think forward™ promise — connecting clients to trusted intelligence to ensure an IP-empowered tomorrow.”

Earlier this month, the company reported first-quarter FY24 EPS of $0.14, in line with the consensus and sales $621.200 million beat the estimate of $614.860 million.

In March, Clarivate entered into an agreement to acquire the majority of assets of MotionHall, a Silicon Valley technology start-up.

Also Read: Exor Amplifies Stake In Clarivate, Proposes New Board Member

Price Action: CLVT shares are up 5.78% at $6.358 premarket at the last check Monday.