Streetbeat News

Assets

IBM

IBM has agreed to sell The Weather Company assets to Francisco Partners, a global investment firm. The deal includes all digital consumer-facing offerings, such as enterprise offerings for broadcast, media, aviation, advertising technology, and data solutions for emerging industries. IBM will retain its sustainability software business, including the Environmental Intelligence Suite (EIS). The transaction is expected to close by the end of Q1 2024.

Portfolio Pulse from Nabaparna Bhattacharya

August 23, 2023 | 2:10 pm

BTCUSD

ETHUSD

MKRUSD

Bitcoin and Ethereum prices fell below $26,000 and $1,700 respectively, following a decline in the S&P Global US manufacturing PMI. Astar was the top gainer in the crypto market, while Maker was the biggest loser. The global crypto market cap fell to $1.04 trillion, a 24-hour decline of 0.4%.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 2:01 pm

SPY

USA new home sales for July came in at 714K, beating the estimated 705K and the prior figure of 697K.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 2:00 pm

SPY

USA New Home Sales for the month of July increased by 4.4%, compared to a decrease of 2.5% in the prior month.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 2:00 pm

EGPT

EIS

UNG

Israel has increased its gas exports to Egypt, according to the country's Energy Minister. This move could potentially affect the performance of certain ETFs that are exposed to the Israeli and Egyptian markets, as well as the natural gas market.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:51 pm

SPY

The S&P Global Composite PMI for August was reported at 50.4, lower than the estimated 52.0 and the prior figure of 52.0.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 1:49 pm

SPY

The S&P Global U.S. Services PMI for August was reported at 51.0, lower than the estimated 52.3 and the prior figure of 52.3.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 1:48 pm

XLRE

The U.S. housing market is experiencing a significant shock as mortgage rates surge to 7.31%, the highest level since December 2000. This increase is linked to the recent surge in long-term Treasury yields. The rise in mortgage rates has led to a decrease in mortgage applications and has negatively impacted the Real Estate Select Sector SPDR Fund (NYSE:XLRE), which is down 18% compared to a year ago. The upcoming Jackson Hole Symposium hosted by the Federal Reserve is expected to provide clarity on the economic outlook and the future path of interest rates.

Portfolio Pulse from Piero Cingari

August 23, 2023 | 1:17 pm

GLDD

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has been awarded the Port Arthur LNG Phase 1 project Marine Dredging and Disposal contract by Bechtel Energy, Inc., in partnership with Sempra Infrastructure. The project involves dredging the Port Arthur LNG Berthing Pocket on the Port Arthur Ship Canal and using the dredged materials to restore and enhance local marshlands. The project is expected to start later this year.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 1:08 pm

GRI

GRI Bio has entered into an asset purchase agreement with Aardvark Therapeutics for the sale of its legacy asset, ADAIR, for approximately $80 million.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:06 pm