Latest news for Northern Ocean (OTC:NTNOF) Stock

Northern Ocean Ltd is an international offshore drilling contractor for the oil and gas industry. The company acquires and operates modern drilling assets and is engaged in offshore contract drilling in benign and harsh environments, including ultra-deep-water environments. It owns two semi-submersible rigs, Deepsea Mira and Deepsea Bollsta. The company earns revenue from Drilling, Mobilization and demobilization, Contract preparation and One-time reimbursed costs.

Northern Ocean Ltd

HC Wainwright &amp; Co. analyst Sean Lee reiterates Plus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTV#NASDAQ">PSTV</a>) with a Buy and announces $8 price target.

News

Price Target

Reiteration

Analyst Ratings

PSTV

HC Wainwright & Co. Reiterates Buy on Plus Therapeutics, Announces $8 Price Target

Jefferies analyst Yaron Kinar downgrades Everest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) from Buy to Hold and raises the price target from $420 to $429.

Downgrades

Jefferies Downgrades Everest Group to Hold, Raises Price Target to $429

HTHT

H World Sees Q4 Revenue Growth Of 1%-5% YoY, And Also In The Range Of 1%-5% Excluding DH

DA Davidson analyst Kurt Yinger downgrades GMS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) from Buy to Neutral and announces $97 price target.

DA Davidson Downgrades GMS to Neutral, Announces $97 Price Target

Rumble Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) saw a 5.75% rise in pre-market trading on Tuesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>, following the announcement of a new Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury strategy.&nbsp;
What Happened:&nbsp;According to an announcement made&nbsp;Monday, Rumble&#8217;s board has<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition"> approved a plan</a> to invest a portion of its surplus cash reserves into Bitcoin, aligning with the cryptocurrency&#8217;s record-breaking performance.
Meanwhile, Bitcoin dropped to 92,325.34 during pre-market hours after failing to break the $100,000 level. 
The strategy involves potential&nbsp;investments of up to $20&nbsp;million, with the company having discretion over the timing and amount. This could translate to acquiring approximately 212 Bitcoins at current market prices. However, the management will determine the actual purchase based on market conditions and Bitcoin&#8217;s price.
This move is part of Rumble&#8217;s broader strategic initiative to explore the cryptocurrency market. The decision reflects a growing trend among companies to diversify their treasury holdings with digital assets, especially during periods of significant price movements in the crypto market.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42152947/satellite-images-reveal-north-korea-reportedly-receiving-illicit-oil-from-russia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Satellite Images Reveal North Korea Reportedly Receiving Illicit Oil from Russia</a>
Why It Matters: Rumble&#8217;s decision to invest in Bitcoin is part of a broader strategy to expand its presence in the digital landscape. Recently, <a href="https://benzinga.com/24/11/42171771/why-rumble-stock-is-rising-monday-laser-focused-on-gaming-crypto-expansion">Rumble announced a partnership </a>with popular streamer Dr. Disrespect, who will provide exclusive content to Rumble Premium and lead Rumble Gaming as an advisor. This move underscores Rumble&#8217;s commitment to gaming and cryptocurrency expansion.
Meanwhile, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), MARA Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and some other companies that hold Bitcoin have <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42183963/microstrategy-coinbase-and-other-bitcoin-linked-stocks-tumble-as-btcs-march-to-100000-stalls">experienced a downward pull</a> after Bitcoin&#8217;s slump.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments</a></li>
</ul>
Image via Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Equities

Pre-Market Outlook

Markets

General

$BTC

MARA

MSTR

Rumble Stock Rises In Tuesday Pre-Market After Adopting Bitcoin Treasury Strategy As BTC Retreats

H World Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) reported quarterly earnings of $0.61 per share which missed the analyst consensus estimate of $0.69 by 11.59 percent. This is a 5.17 percent increase over earnings of $0.58 per share from the same period last year. The company reported quarterly sales of $918.00 million which missed the analyst consensus estimate of $933.86 million by 1.70 percent. This is a 6.62 percent increase over sales of $861.00 million the same period last year.

H World Group Q3 Adj $0.61 Misses $0.69 Estimate, Sales $918.00M Miss $933.86M Estimate

DA Davidson analyst Jeff Rulis upgrades First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) from Neutral to Buy and raises the price target from $32 to $42.

Upgrades

FIBK

DA Davidson Upgrades First Interstate BancSys to Buy, Raises Price Target to $42

HC Wainwright &amp; Co. analyst Andres Maldonado maintains Scholar Rock Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRRK#NASDAQ">SRRK</a>) with a Buy and raises the price target from $40 to $50.

SRRK

HC Wainwright & Co. Maintains Buy on Scholar Rock Holding, Raises Price Target to $50

POWW

AMMO Receives Deficiency Notice For Late Form 10-Q Filing

HC Wainwright &amp; Co. analyst Scott Buck initiates coverage on Redwire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) with a Buy rating and announces Price Target of $18.

Initiation

HC Wainwright & Co. Initiates Coverage On Redwire with Buy Rating, Announces Price Target of $18

<a href="https://news.fiveyearsout.com/news-releases/news-details/2024/Arrow-Electronics-Expands-Distribution-Agreement-with-Broadcom-/default.aspx" title="https://news.fiveyearsout.com/news-releases/news-details/2024/Arrow-Electronics-Expands-Distribution-Agreement-with-Broadcom-/default.aspx">https://news.fiveyearsout.com/news-releases/news-details/2024/Arrow-Electronics-Expands-Distribution-Agreement-with-Broadcom-/default.aspx</a>

AVGO

Arrow Electronics Expands Distribution Agreement With Broadcom; Arrow Is Responsible For Defining Sales Strategy, Driving Go-To-Market Initiatives Across Europe For Broadcom's Enterprise, Cybersecurity, Mainframe Software

Business Outlook
Cheche is affirming&nbsp;its full-year 2024 outlook:
<ul>
<li>Net Revenues are expected to range from RMB3.5 billion to RMB3.7 billion, representing an increase of 6.1% to 12.1%, compared to the full year of 2023.</li>
<li>Total written premiums placed are expected to range from RMB24.5 billion to RMB26.5 billion, representing an increase of 8.4% to 17.3%, compared to the full year of 2023.</li>
</ul>

Earnings

Guidance

Cheche Reaffirms 2024 Net Revenues Expectation Of RMB3.5B-RMB3.7B; Total Written Premiums Placed Of RMB24.5B-RMB26.5B

RDWR

Radware Expands Relationship With A Top 10 Airport In India To Deliver Cloud Application And Network Security; The Airport Plans To Leverage Radware's Cloud DDOS Protection And Cloud Application Protection Services And Work With Radware's Emergency Response Team To Avoid Cyber Attacks

Dr. Reddy's Laboratories, Inc. and Senores Pharmaceuticals, Inc. today announced the launch of Ivermectin Tablets USP, 3 mg, which is bioequivalent and therapeutically equivalent to STROMECTOL&#xAE; Tablets of Merck Sharp and Dohme LLC in the U.S. market. The product will be marketed by Dr. Reddy's.

Dr. Reddy's Laboratories, Senores Pharmaceuticals Launch Ivermectin Tablets USP, 3 mg In US Market

BENF

Beneficient Regains Compliance With Nasdaq Rules For Stockholders' Equity Requirement And The Audit Committee Requirement

Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) reported quarterly earnings of $0.00 per share. The company reported $121.200 million in sales this quarter. This is a 7.41 percent increase over sales of $112.838 million the same period last year.

Cheche Group Q3 2024 Adj. EPS $0.00, Sales $121.200M Up From $112.838M YoY

GLSI

Greenwich LifeSciences Partners With Breast Cancer Research Group Gruppo Italiano Mammella In Italy

The dividend will be paid in cash on January 15, 2025 to stockholders of record as of December 31, 2024.

Dividends

Park Hotels & Resorts Declares Q4 Dividend Of $0.65 Per Share Which Includes Regular Quarterly Dividend Of $0.25 Coupled With $0.40 Top Off Dividend Based On 2024 Operating Results

Veteran Wall Street investor Warren Buffett is known for his unabashed takes on cryptocurrencies and has never shied away from voicing his disapproval in the harshest terms possible.
What happened: Buffett has made Berkshire Hathaway into one of the world&#8217;s most valuable corporations through a succession of acquisitions and investments over the years, becoming <a href="https://www.benzinga.com/general/movers-shakers/21/08/17298128/warren-buffett-turns-91-a-highlight-for-each-decade-of-his-life-1">one of the most followed stock investors</a> globally.
However, cryptocurrency as a financial asset has failed to capture the interest of the &#8220;Oracle of Omaha.&#8221;
During a January 2018 <a href="https://buffett.cnbc.com/video/2018/01/10/buffett-sets-the-stage-for-ceo-succession--full-interview.html?&amp;start=2225">interview </a>with CNBC, Buffett said he sees little hope for the asset class.
&#8220;In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending," he argued. "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it, but I would never short a dime's worth."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
When Buffetts made these remarks, the total cryptocurrency market capitalization was $828 billion, compared to Berkshire Hathaway's valuation of $510 billion.
Fast forward to now, the cryptocurrency market has ballooned to a market value of $3.23 trillion, implying a 290%, or nearly fourfold, expansion.
During this time, leading cryptocurrencies recorded astronomical gains, with Bitcoin surging 520% and meme token Dogecoin exploding 2,961%.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price (Recorded during Buffett's Remarks)</td>
<td>Price (Recorded at 3:06 a.m. EDT)</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$15,043</td>
<td>$93,343.04</td>
<td>520.508%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>$1,248.00</td>
<td>$3,379.52</td>
<td>170.795%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$0.012839</td>
<td>$0.3931</td>
<td>2961.76%</td>
</tr>
</tbody>
</table>
</figure>
In comparison, Berkshire's market valuation stood at $1.03 trillion. This meant that the cryptocurrency market is three times as big as Buffett's firm today.
It should be noted that the legendary investor has not bought cryptocurrencies,&nbsp; directly or through exchange-traded funds.&nbsp;
That said, Buffett and Berkshire are shareholders in Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), a crypto-friendly digital bank in Brazil. According to the company's latest 13F <a href="https://www.sec.gov/Archives/edgar/data/1067983/000095012324011775/0000950123-24-011775-index.htm">filing</a>, it had a position worth over $1 billion in Nu Holdings.&nbsp;
Why It Matters: For the uninitiated, the "Inverse Cramer" phenomenon hinges on the belief that doing the opposite of what Cramer advises could lead to profits.
In fact, an exchange-traded fund (ETF) <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">was floated in 2022</a>, allowing investors to bet against Cramer's predictions. The ETF eventually shut down earlier this year.
Even influential cryptocurrency analysts like Ali Martinez wrote, "Another sell signal," reacting to Cramer's endorsement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another sell signal&#8230;<a href="https://t.co/YlJv9oPocw">pic.twitter.com/YlJv9oPocw</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860420443124981817?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
That said, there has been no definitive proof of counter-trading Cramer's predictions being a profitable strategy.
Price Action: At the time of writing, Bitcoin was trading at $93,343.04, plunging 5.72% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42154900/crypto-expert-who-called-2022-market-crash-warns-about-bitcoin">Crypto Expert Who Called 2022 Market Crash Warns About Bitcoin</a></li>
</ul>
Image generated using AI tools

$DOGE

$ETH

Warren Buffett Once Predicted A 'Bad Ending' For Crypto. Since Then, The Sector's Market Cap Has Quadrupled, Riding On The Bitcoin, Dogecoin Waves

<a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/26/fact-sheet-biden-harris-administration-takes-latest-step-to-lower-prescription-drug-costs-by-proposing-expanded-coverage-of-anti-obesity-medications-for-americans-with-medicare-and-medicaid/" title="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/26/fact-sheet-biden-harris-administration-takes-latest-step-to-lower-prescription-drug-costs-by-proposing-expanded-coverage-of-anti-obesity-medications-for-americans-with-medicare-and-medicaid/">https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/26/fact-sheet-biden-harris-administration-takes-latest-step-to-lower-prescription-drug-costs-by-proposing-expanded-coverage-of-anti-obesity-medications-for-americans-with-medicare-and-medicaid/</a>

Hims & Hers Health, Inc. Class A Common Stock

HIMS

White House Announced: Biden-⁠Harris Administration Takes Latest Step to Lower Prescription Drug Costs by Proposing Expanded Coverage of Anti-Obesity Medications for Americans with Medicare and Medicaid

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