Streetbeat News

Assets

AES

AES Corporation has agreed to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam to Se.ven Global Investments. The terms of the deal were not disclosed. The transaction is pending approvals by the Government of Vietnam and the Ministry of Industry and Trade, with an expected close aligning with AES's plan to exit most of its coal assets by 2025.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 11:33 am

IREN

Iris Energy has acquired 1.3 EH/s of Bitmain T21 miners, aiming to boost its self-mining capacity to 8.3 EH/s. This strategic move is expected to enhance the company's Bitcoin mining capabilities and overall competitiveness in the cryptocurrency mining industry.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 11:33 am

JPM

JPMorgan Chase & Co has acquired a 10.6% stake in Spanish defense systems manufacturer Indra, becoming the second-largest stakeholder after the Spanish state holding company SEPI. The stake is valued at approximately €268 million ($294.10 million). This move comes as Indra's strategic importance increases due to geopolitical tensions in Europe and Spain's commitment to boost defense spending. JPMorgan's acquisition follows Escribano's stake increase in Indra to 8%.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 11:26 am

USO

OPEC+ is considering a proposal where Saudi Arabia would extend its voluntary 1 million barrels per day (B/D) cut, along with additional cuts from other members, as reported by Reuters citing two delegates.

Portfolio Pulse from Charles Gross

November 30, 2023 | 11:19 am

WHR

Whirlpool Corporation plans to sell up to 24% of its stake in Whirlpool of India in 2024. The company currently holds a 75% ownership interest through a subsidiary. Whirlpool does not expect this announcement to affect its previously issued financial guidance for the fiscal year.

Portfolio Pulse from Charles Gross

November 30, 2023 | 11:12 am

BLK

SEC Chair Gary Gensler declined to comment on the prospects of a spot Bitcoin ETF at the Healthy Markets Association conference. He emphasized the SEC's 'time-tested process' and did not 'pre-judge' pending applications. Asset management firms like BlackRock Inc. and Fidelity Investments have applied to launch such ETFs. Gensler reiterated his view of Bitcoin as a commodity and supported more authority for the CFTC over crypto, while cautioning investors about the sector's risks.

Portfolio Pulse from Mehab Qureshi

November 30, 2023 | 11:11 am

MTN

Vail Resorts Inc (NYSE:MTN) is set to acquire an 84% stake in Crans-Montana Mountain Resort in Switzerland from CPI Property Group. The deal includes an 80% stake in SportLife AG and 100% of 11 restaurants. The resort boasts 1,400 meters of vertical terrain and 140 kilometers of trails. The transaction, valued at CHF 118.5 million, is expected to close during the 2023-24 ski season, with the resort anticipated to generate CHF 5 million EBITDA in fiscal 2025. Vail Resorts had $562.9 million in cash as of July 1, 2023. MTN shares closed at $215.22, down 0.49% on Wednesday.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 10:40 am

USO

Reuters has reported that the OPEC meeting has commenced. Details of the meeting's discussions or decisions have not been disclosed yet. The meeting's outcomes could influence global oil supply and prices, potentially impacting related stocks and ETFs like USO.

Portfolio Pulse from Charles Gross

November 30, 2023 | 10:28 am

CIPI

Correlate Energy has commissioned a new rooftop solar facility for Continental Envelope's manufacturing plant in Illinois. The solar project is now fully operational and is expected to supply 20%-25% of the plant's net energy requirement.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:22 am

BTCUSD

An unidentified Bitcoin wallet has acquired 11,268 BTC, worth about $424 million since November 10, ranking it as the 74th largest BTC holder. The purchases were made at prices between $36,000 to $38,000, leading to an unrealized profit of approximately $9.8 million with BTC's current price just below $38,000. Speculation suggests the wallet could be linked to a U.S. asset management firm anticipating a spot Bitcoin ETF approval, but there is no evidence to confirm this. A spot ETF approval could potentially create trillions in value, with demand estimated between $20 billion to $30 billion.

Portfolio Pulse from Benzinga Neuro

November 30, 2023 | 10:19 am