Streetbeat News

Assets

KYMR

Kymera Therapeutics, symbolized as KYMR, has announced that it is well-capitalized, boasting a cash reserve of $745 million. This financial position is expected to provide the company with a runway extending into the first half of 2027, indicating a strong liquidity position and the ability to fund its operations and research activities for the next several years without the immediate need for additional capital.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 12:04 pm

TRN

Trinity Industries reported delivering 17,355 railcars over the year, with a significant backlog valued at $3.2 billion by year-end.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 11:59 am

BP

BP P.L.C. (NYSE:BP) plans to restart its largest U.S. Midwest refinery in Whiting, Indiana, to full production in March after a power outage caused by a transformer failure earlier this month. The refinery, with a capacity of 435,000 barrels per day, was evacuated due to the outage. BP is currently assessing potential damage and the cause of the power loss. Despite missing revenue expectations with $52.14 billion against a consensus of $62.34 billion, BP's underlying RC profit per ADS beat expectations at $1.07 versus $0.15. The company anticipates higher upstream production compared to Q4 FY23 and expects a slight year-over-year increase in FY24, with capital expenditures projected at around $16 billion.

Portfolio Pulse from Lekha Gupta

February 22, 2024 | 11:44 am

SEI

SOL

'Solana Killer' Sei (CRYPTO: SEI) has seen a significant rise of 55% in 2024, outperforming Solana (CRYPTO: SOL), which increased by 2%. Meme coins on both networks, like BONK and SEIYAN, have also seen substantial rallies. The Sei Network, a Layer 1 blockchain within the Cosmos ecosystem, achieved over $1 billion in trading volume shortly after its debut in August 2023.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 10:35 am

VGK

The Eurozone Consumer Price Index (CPI) for January showed a month-over-month decrease of 0.4%, aligning with the estimated -0.4% and marking a decline from the previous month's 0.2% increase.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 10:02 am

EWU

The U.K. Services Purchasing Managers Index (PMI) for the preliminary report came in at 54.3, matching the previous figure and slightly above the estimated 54.2. This indicates a stable yet slightly improving service sector in the U.K.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 9:33 am

EWU

The U.K. Manufacturing Purchasing Managers Index (PMI) for the preliminary report came in at 47.1, slightly above the prior month's 47.0 but below the estimated 47.5. This indicates a contraction in the manufacturing sector, as any PMI below 50 suggests a decline in manufacturing activity.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 9:33 am

ALCPF

TSM

Taiwanese chip companies are expanding their operations in Japan as a strategic move amidst the U.S. efforts to limit China's semiconductor advancements. Companies like Alchip Techs and eMemory Technology are relocating or establishing operations in Japan, benefiting from the country's supportive government and subsidies. Taiwan Semiconductor (TSM) is also setting up its first plant in Kyushu, Japan, with plans for a second, highlighting Japan's growing importance in the global semiconductor supply chain.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 7:30 am

CVS

CVS Health has invested approximately $35M in two new affordable housing developments in Hawai'i, in collaboration with various partners. The investment aims to provide 369 new affordable housing units across Maui and O'ahu, addressing the critical need for housing, especially in areas affected by the 2023 Maui wildfires.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:28 am

GOOGL

Google (NASDAQ:GOOGL) is set to start manufacturing its Pixel smartphones in India, beginning with the Pixel 8 Pro in Southern India and the Pixel 8 in Northern India. This move aims to diversify its supply chain and tap into the Indian market, following a trend among tech companies like Apple and Samsung. The decision reflects a shift from manufacturing in Vietnam due to US-China tensions and aligns with the 'China+2' strategy for supply chain resilience.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 22, 2024 | 6:07 am