Latest news for Megaport (OTC:MGPPF) Stock

Megaport is one of the world's largest software-defined network service providers, enabling over 2,800 enterprise customers to connect to over 800 data centers in over 150 cities throughout the world. Megaport's services mostly revolve around enabling enterprises to connect to cloud service providers, like Amazon Web Services, but it also offers services to enable businesses to connect across multiple data centers and to internet exchanges.

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Stocks That Hit 52-Week Highs On Friday

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Megaport Ltd

Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases <a href="https://www.aramco.com/en/news-media/news/2024/aramco-to-acquire-50-stake-in-air-products-qudras-blue-hydrogen-industrial-gases-company" target="_blank" rel="noreferrer noopener">Company (BHIG)</a>.
In particular, Saudi Arabia&#8217;s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ).
After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG.
The transaction is contingent on standard closing conditions and includes provisions for Aramco to secure hydrogen and nitrogen offtake options.
Aramco is expanding its lower-carbon hydrogen business and alternative energy portfolio through an investment in BHIG.
Dr. Samir J. Serhan, Air Products Qudra Chairman, commented, &#8220;It is an honor to further extend Air Products Qudra&#8217;s strong partnership with Aramco, working to accelerate the hydrogen economy and driving the creation of the largest hydrogen network in the Middle East, which is expected to serve the refining, chemical, and petrochemical industries.&#8221;
Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy &amp; Corporate Development, said, &#8220;We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener">Honeywell&#8217;s $1.81B Power Play: Acquires Air Products&#8217; LNG Tech to Lead Energy Transition</a>
Investors can gain exposure to APD via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: APD shares are up 3.49% at $268.91 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Equities

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Asset Sales

iShares Trust Dow Jones US Basic Materials Sector Index Fund

Why Air Products and Chemicals Shares Are Surging Today

TD Cowen analyst Matthew Ramsay maintains Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) with a Buy, adjusts target to $210 from $1750 (10-1 Stock Split).

Price Target

Analyst Ratings

AVGO

TD Cowen Maintains Buy on Broadcom, Adjusts Price Target To $210 (10-1 Stock Split)

According to a federal lawsuit, Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) is accused of infringing on 11 patents owned by Chinese chipmaker Yangtze Memory Tech. Co. Ltd. (YMTC).
YMTC claims the key Biden&#8217;s <a target="_blank" href="https://www.benzinga.com/government/24/05/38650086/intel-micron-among-winners-in-bidens-280b-chips-act-for-semiconductor-advancement" rel="noreferrer noopener">Chips Act beneficiary</a> used its patented inventions without authorization after YMTC surpassed Micron in the flash memory market in 2023, Bloomberg Law <a target="_blank" href="https://news.bloomberglaw.com/ip-law/micron-infringed-11-ymtc-semiconductor-tech-patents-suit-says" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39748984/taiwans-president-expresses-gratitude-to-micron-ceo-for-ongoing-investment" rel="noreferrer noopener">Taiwan&#8217;s President Expresses Gratitude To Micron CEO For Ongoing Investment</a>
The complaint was filed on July 12 in the US District Court for the Northern District of California, just one day after a Texas judge upheld a $445 million jury verdict against Micron for infringing Netlist Inc.&#8217;s semiconductor patents.
<a target="_blank" href="https://www.benzinga.com/government/24/03/37947552/microns-strategic-moves-in-china-ceo-mehrotras-talks-and-expansion-plans-amid-shift-from-us-tech" rel="noreferrer noopener">Earlier in 2024</a>, Micron CEO Sanjay Mehrotra met with China&#8217;s Minister of Commerce to discuss deepening Micron&#8217;s operations and new investments in China. Mehrotra outlined Micron&#8217;s business plans and committed to complying with Chinese regulations, indicating a strong focus on expanding in the Chinese market.
Recently, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39753049/micron-technology-analysts-remain-bullish-after-management-meetings-ai-could-become" rel="noreferrer noopener">analysts flagged</a> Micron&#8217;s optimistic outlook on pricing and the shift towards AI computing and enterprise storage products. The company aims to increase its share of high-bandwidth memory (HBM) to 20% to 25% by 2025, targeting a market exceeding $20 billion.
Investors can gain exposure to Micron through VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>).
Price Action: MU shares traded lower by 2.09% at $128.13 at the last check on Tuesday.
Photo via Shutterstock

Government

Regulations

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Tech

Media

What's Going On With Micron Technology Stock On Tuesday?

B of A Securities analyst Ming Hsun Lee maintains XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) with a Buy and lowers the price target from $12.7 to $11.7.

XPEV

B of A Securities Maintains Buy on XPeng, Lowers Price Target to $11.7

WIIM

KSCP

Knightscope shares are trading higher after the company announced the Knightscope K1 Laser.

The United Auto Workers (UAW)union is calling out the Biden administration for not pursuing accusations of labor abuses by <a href="https://www.benzinga.com/news/24/06/39297479/whats-going-on-with-caterpillar-shares-wednesday">a Mexican subsidiary</a> of Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), a U.S. manufacturer of earth-moving equipment.
In late June, the administration told a group of unions that it would not follow up on the complaint that the subsidiary retaliated against striking union members by making it difficult for them to find other jobs through blacklisting, the New York Times <a href="https://www.nytimes.com/2024/07/15/business/economy/uaw-usmca-mexico-trade-caterpillar.html">reported</a>.
Government policing of such violations under the U.S.-Mexico-Canada Agreement is intended to discourage American employers from moving jobs to Mexico for weaker labor protections.
Also Read: <a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next">After UAW Wins Big In Tennessee, $40M Campaign Continues: 35 Car Plants Are Next</a>
The UAW argues the Biden administration may be encouraging companies to relocate work by declining to respond to the union complaint, the New York Times reported.
Caterpillar workers in Mexico "face harassment and blacklisting for daring to stand up, with no help from the U.S.M.C.A.," Shawn Fain, the president of the UAW, said in a statement. The UAW was among several labor groups that rose the complaint.
The Biden administration declined to comment on the complaint, but pointed to two dozen other cases it had pursued under the trade agreement. 
Caterpillar did not respond to Benzinga&#8217;s requests for comment on Tuesday.
Price Action: Caterpillar gained 2.15% to $353.20 in Tuesday&#8217;s mid-morning trading.
Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>) gained 0.22%, while Global X Dow 30 Covered Call &amp; Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DYLG#NYSE">DYLG</a>) edged up 0.26% and SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) jumped 1.27%. 
Amplify CWP Enhanced Dividend Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVO#NYSE">DIVO</a>) advanced 0.96% and Inspire 100 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIBL#NYSE">BIBL</a>) picked up 0.19%.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39748499/uaw-president-shawn-fain-worried-about-bidens-re-election-chances-against-trump-report">UAW President Shawn Fain Worried About Biden&#8217;s Re-Election Chances Against Trump: Report</a></li>
</ul>
Photo: Shutterstock

Global

ETFs

BIBL

SPDR Dow Jones Industrial Average ETF Trust

DIVO

DJIA

DYLG

UAW Criticizes Biden Administration For Not Pursuing Labor Abuse Complaint Against Caterpillar

Contracts

Management

GATX

Unifor Members At GATX Rail Ratify New Agreement; Says Members Of Unifor Local 21-A At GATX Rail Canada In Red Deer, Alberta, Have Ratified New 4-Year Collective Agreement

Guidance

Deutsche Bank CEO Says To Boost Asia Revenue To 'Well North Of 15%'; Co Is Ready To Expand Investments In Asia After Successfully Restructuring Itself And Stabilizing Its Earnings; Also Increasing Investments In Vietnam And Other Smaller Economies In The Region

Shares of The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell sharply during Tuesday's session following <a href="https://www.benzinga.com/quote/SCHW/earnings">second-quarter results.</a>
Charles Schwab said adjusted net income declined 2% Y/Y to $1.465 billion. Adjusted EPS fell 3% Y/Y to 73 cents, beating the consensus of 72 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Charles Schwab shares dipped 7.5% to $69.42 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Yoshitsu Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKLF#NASDAQ">TKLF</a>) jumped 109% to $0.6437 after the company reported a year-over-year increase in FY24 financial results.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) shares climbed 95.4% to $2.12 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer&#8217;s drug.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares climbed 53.8% to $23.71.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) gained 38% to $3.8503.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) gained 38% to $1.4799.</li>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares rose 29.2% to $2.9450 after jumping around 63% on Monday.</li>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) gained 27.3% to $0.3055 after declining over 8% on Monday.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) surged 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.</li>
<li>KWESST Micro Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KWE#NASDAQ">KWE</a>) gained 22.8% to $0.4160</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) climbed 22.7% to $1.9634. The company announced that it entered into an agreement with Alliance Global Partners to offer and sell Class A common shares up to $20 million.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) rose 21% to $4.4150.</li>
<li>SciSparc Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRC#NASDAQ">SPRC</a>) gained 20% to $1.0150.</li>
<li>Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) rose 19.8% to $10.45.</li>
<li>Alpha Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) climbed 19.2% to $3.42.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) shares rose 16.1% to $1.01 after surging around 15% on Monday.</li>
<li>NetSol Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTWK#NASDAQ">NTWK</a>) climbed 16% to $3.0501 as the company signed a $16 million agreement with a major automaker to revolutionize digital car buying and leasing experience in the United States.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) gained 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
<li>8&#215;8, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) gained 13.3% to $2.8450. 8&#215;8. secured a $200 million term loan at reduced interest rate.</li>
<li>Fate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) gained 12.8% to $4.39.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) rose 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) gained 11.8% to $1.14.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) jumped 11.8% to $10.57</li>
<li>Sana Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANA#NASDAQ">SANA</a>) surged 11.7% to $7.11.</li>
<li>ServisFirst Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NASDAQ">SFBS</a>) climbed 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) rose 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.</li>
<li>Arvinas, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) gained 7.7% to $32.27.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares rose 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 22.1% to $7.15 after jumping 54% on Monday.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares declined 21.4% to $1.08. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) fell 18% to $3.23.</li>
<li>Clearmind Medicine Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMND#NASDAQ">CMND</a>) fell 16.7% to $1.85. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) declined 15.8% to $2.65.</li>
<li>Funko, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNKO#NASDAQ">FNKO</a>) shares fell 13.3% to $8.71.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) fell 13.2% to $0.3010.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares dipped 12.8% to $0.5581 after dipping 10% on Monday.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares fell 8.7% to $37.04. Trump Media &amp; Technology Group shares jumped over 31% on Monday following the attempted assassination of Donald Trump.</li>
<li>Greenpro Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRNQ#NASDAQ">GRNQ</a>) shares fell 8.5% to $1.08. Greenpro Capital shares surged around 35% on Monday after the company announced that its subsidiary, Green-X, secured over $100 million in digital assets.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares declined 7.8% to $0.3945 after gaining around 10% on Monday.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) fell 7.1% to $67.83 after Loop Capital downgraded the stock from Buy to Hold.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) fell 7% to $1.9150.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">&#8216;</a></li>
</ul>

AEON

AMIX

ANGO

ARVN

ATGL

CGBS

CHGG

CMND

EGHT

EOSE

FATE

FNKO

GRNQ

GROM

KOSS

LCFY

MTCH

NAAS

NEGG

NTWK

PACB

RDDT

SANA

SCHW

SFBS

SHOP

SHPW

SILO

SPRC

TKLF

VRPX

ZENV

Why Charles Schwab Shares Are Trading Lower By Over 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

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Latest news for Megaport (OTC:MGPPF) Stock

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