Streetbeat News

Assets

USO

OPEC's crude output increased by 113,000 barrels per day (B/D) in August, reaching 27.45 million B/D. Iran's crude output also rose by 143,000 B/D to 8.97 million B/D, according to OPEC citing secondary sources.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:17 pm

GFS

GlobalFoundries Inc (NASDAQ:GFS) has opened a $4 billion fabrication plant in Singapore, aiming to strengthen its position in the semiconductor manufacturing sector. The facility will create 1,000 jobs and add 450,000 wafers to GF's annual production capacity. In Q2 FY23, the company reported a 7.4% YoY revenue decline to $1.85 billion, beating the consensus of $1.83 billion. CFO Tim Stone left the company in July, and David Reeder will remain CFO until the end of 2023.

Portfolio Pulse from Anusuya Lahiri

September 12, 2023 | 12:09 pm

VST

Vistra Corp. (NYSE:VST) has announced the launch of senior secured notes due 2033 and senior unsecured notes due 2031 in concurrent private offerings to qualified institutional buyers and certain non-U.S. persons. The offerings are pursuant to Rule 144A under the Securities Act of 1933, as amended, and Regulation S under the Securities Act.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:09 pm

BOLT

Bolt Biotherapeutics has announced the issuance of a US patent covering Dectin-2-targeting agonist antibodies, including BDC-3042. This patent strengthens the company's intellectual property position.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:07 pm

PACB

PacBio has announced a new program, PacBio Capital, which allows customers to lease its sequencing systems, including Revio, Onso, and Sequel IIe, by providing flexible financing options.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 12:05 pm

WFC

Wells Fargo's CFO has stated that the bank's overall real estate portfolio is performing well, with no systematic stress observed, except for some stress in the office space sector.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 11:57 am

WFC

Wells Fargo's CFO has stated that the company will continue to build its investment banking business. This comes as part of the bank's strategy to diversify its revenue streams.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 11:54 am

BA

SPR

Boeing Company has received an order for 25 737 MAX jets from airplane lessor SMBC Aviation Capital. The financial terms were not disclosed. The order is for 737-8 jets, which reduces fuel use and emissions by up to 20%. Each airplane will save up to 8 million pounds of CO2 emissions annually compared to those airplanes it replaces. Boeing's 737 MAX jets are grappling with supplier-related issues with Spirit Aerosystems Holdings, Inc, which has called on Boeing to share a more significant portion of the financial strain brought about by inflation.

Portfolio Pulse from Nabaparna Bhattacharya

September 12, 2023 | 10:59 am

BABA

BIDU

FXI

JD

Alibaba Group Holding Ltd (BABA) is undergoing a strategic shift under its new CEO, Eddie Wu, focusing on an AI-first approach and user experience. The company faces competition from ByteDance Ltd in social media and Baidu Inc (BIDU) in AI. Alibaba plans to prioritize AI-driven tech businesses, internet platforms, and its global commerce network. The company is also recovering from a tech crackdown imposed by Beijing and the departure of former CEO Daniel Zhang. Alibaba's shares traded lower by 0.56% at $88.21 premarket on Tuesday.

Portfolio Pulse from Anusuya Lahiri

September 12, 2023 | 10:47 am

EVTV

Envirotech Vehicles, Inc. (NASDAQ:EVTV) has secured a 3,000 square meter assembly facility in the Philippines, located in Clark Free Trade Zone. The company plans to open the facility with two manufacturing lines, eventually scaling up to five production lines, with the capacity to produce more than 2,000 vehicles per year.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 10:34 am