Streetbeat News

Assets

ABAT

American Battery Technology has reported that it has $5.4 million in cash on hand for the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:29 pm

CVX

HES

Chevron Corp (NYSE:CVX) is considering selling its East Texas assets, which include approximately 70,000 net acres in the Haynesville shale formation. Development of these assets was halted earlier this year. The company is exploring various options, including a sale or a partnership with regional producers. This move is part of Chevron's strategy to offload assets worth up to $15 billion over the next five years following its recent acquisitions, including Hess Corp (NYSE:HES) for $53 billion and PDC Energy for $7.6 billion. These acquisitions added 500,000 barrels of oil and gas per day to Chevron's U.S. shale portfolio. Chevron's Q3 FY23 results showed total revenues of $54.1 billion, surpassing expectations, but an adjusted EPS of $3.05, which missed the consensus. CVX shares are down 0.21% in premarket trading.

Portfolio Pulse from Lekha Gupta

November 15, 2023 | 2:11 pm

MFC

Manulife Investment Management has agreed to acquire CQS, a multi-sector alternative credit manager with approximately $13.5 billion in assets under management. The acquisition will enhance the global investment solutions for clients of both firms and allow Manulife to scale its distribution footprint. CQS will continue to be led by its current CEO and Senior Partners, and the CQS brand will be co-branded with Manulife. The transaction is expected to close in early 2024, subject to regulatory approvals, with financial terms not disclosed. Lord Hintze's Directional Opportunities Fund is not included in the deal.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:10 pm

VALE

Vale's (NYSE:VALE) short interest has increased by 18.46% since the last report, with 66.88 million shares sold short, representing 1.54% of available shares. It would take about 2.54 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Vale has less short interest compared to its peers, with an average of 3.79% in the peer group. This information suggests investors should monitor the stock, but it does not necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 2:00 pm

NSC

Over the past 20 years, Norfolk Southern (NYSE:NSC) has produced an average annual return of 14.25%, outperforming the market by 6.73% on an annualized basis. A $100 investment in NSC 20 years ago would be worth $1,455.92 today. Norfolk Southern currently has a market capitalization of $46.16 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 2:00 pm

FERG

Over the past 5 years, Ferguson (NYSE:FERG) has delivered an average annual return of 21.85%, outperforming the market by 10.62% on an annualized basis. A $1000 investment in FERG five years ago would be worth $2,624.26 today. Ferguson currently has a market cap of $33.50 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 2:00 pm

VEON

VEON Ltd. has reached a $100 million deal with Summit for the partial sale of its Bangladesh towers portfolio. The agreement includes a long-term service partnership and involves the transfer of one-third of Banglalink's tower portfolio.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:28 pm

CNSP

CNS Pharmaceuticals announced that its existing cash reserves and funds raised in October are expected to be sufficient to support operations until the end of Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:21 pm

JPM

JP Morgan Chase & Co. (NYSE:JPM) is expecting a significant increase in the daily transactions of its digital token, JPM Coin, with projections of managing up to $10 billion daily within the next year or two. Currently, the bank handles about $1 billion in JPM Coins daily. JPM Coin is used by wholesale clients to facilitate payments in dollars and euros through a private blockchain network. This growth expectation comes despite CEO Jamie Dimon's cautious outlook on the macroeconomic situation. JPM shares saw a slight increase of 0.22% to $148.77 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

November 15, 2023 | 12:49 pm

FEMY

PMCB

Femasys Inc. has obtained an additional $6.85 million in financing through a strategic investment led by PharmaCyte Biotech. This investment is aimed at supporting Femasys' growth and development efforts.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:32 pm