Streetbeat News

Assets

LVS

Mark Cuban is reportedly selling a majority stake in the Dallas Mavericks to Miriam Adelson and her family. Adelson is divesting $2 billion worth of her Las Vegas Sands Corp. (LVS) shares to fund the purchase. Cuban will retain some ownership and manage basketball operations. The sale follows Cuban's announcement of his departure from 'Shark Tank' after the next season.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 4:07 am

Unity Software is planning to close corporate offices in approximately 14 locations as part of its evaluation of its real estate footprint. The company will also recognize deferred revenue and additional consideration of approximately $114 million in connection with amendments to its agreements with WETA FX, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

November 28, 2023 | 10:13 pm

EIS

IZRL

Israel and Hamas have extended their ceasefire for an additional 48 hours following a successful hostage-for-prisoner exchange. The US has sent humanitarian aid to Egypt to support Gaza, with more flights expected. Elon Musk was invited by a senior Hamas official to visit Gaza. Israeli Prime Minister Netanyahu reiterated Israel's commitment to security, while US Secretary of State Blinken discussed the situation with NATO members, also expressing support for Ukraine. Israeli stocks, including the iShares MSCI Israel ETF (EIS) and ARK Israel Innovative Technology ETF (IZRL), saw gains on Tuesday.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 10:12 pm

GDX

GDXJ

GFI

GLD

NEM

NUGT

UUP

Gold prices have surged, nearing all-time highs, as market confidence grows in potential Fed rate cuts. The SPDR Gold Trust (GLD) is close to its record high, while the U.S. dollar index weakens, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP). Fed Governor Waller's dovish remarks have increased bets on rate cuts, leading to a decline in Treasury yields. This has boosted gold miners, with the VanEck Gold Miners ETF (GDX), Direxion Daily Gold Miners Index Bull 2XShares (NUGT), and VanEck Junior Gold Miners ETF (GDXJ) all posting gains. Gold Fields Limited (GFI), AngloGold Ashanti plc (AU), and Newmont Corporation (NEM) were among the top performers.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 9:47 pm

USO

The API reported a weekly crude stock draw of 817K barrels, which is less than the estimated 2M barrel draw. This discrepancy may indicate lower-than-expected demand or higher-than-anticipated supply, potentially impacting crude oil prices and related assets.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:41 pm

CFIV

CF Acquisition Corp. IV has announced its intention to liquidate, stating it will not make the next $150,000 monthly installment to its trust account due by November 28. The company will cease all operations except for the purpose of winding up, redeeming public shares, dissolving, and liquidating.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:35 pm

Realty Income Corporation (NYSE:O) has priced a public offering of £750 million in senior unsecured notes, split into two tranches: £300 million at 5.750% due 2031 and £450 million at 6.000% due 2039. The offering prices were 99.298% and 99.250% of the principal amounts, respectively. The proceeds will be used for general corporate purposes, including debt repayment, property development, and acquisitions. The offering is set to close on December 5, 2023, with Wells Fargo Securities, Barclays, BNP Paribas, BofA Securities, and RBC Capital Markets as the active joint book-running managers.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:26 pm

FSRX

FinServ Acquisition Corp. II (FSRX) has announced its intention to liquidate and expects that its securities will be delisted from the Nasdaq Stock Market after the last trading day on December 7, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:18 pm

ARGT

BDRY

CYA

RAYS

Micro-cap ETFs, with AUM under $400 million, saw varied performance over the past week. Breakwave Dry Bulk Shipping ETF (BDRY) rose 21.03%, while Global X MSCI Argentina ETF (ARGT) increased by 7.51% following the Argentine election. Conversely, Simplify Tail Risk Strategy ETF (CYA) and Global X Solar ETF (RAYS) fell by 13.52% and 6.40%, respectively. BDRY and ARGT have shown positive year-to-date (YTD) returns, whereas CYA and RAYS have experienced significant declines YTD.

Portfolio Pulse from Johnny Rice

November 28, 2023 | 8:48 pm

DIS

Disney CEO Bob Iger, speaking at a company town hall, acknowledged the challenges faced since his return were greater than anticipated. He downplayed the likelihood of major asset sales and expressed his commitment to building a modern version of the company.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 8:15 pm