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GSAT

QCOM

Globalstar Inc (GSAT) has appointed Paul Jacobs as CEO and announced a licensing agreement with XCOM Labs. Jacobs, founder and CEO of XCOM Labs and former CEO of Qualcomm Inc (QCOM), will replace retiring David Kagan. The agreement gives Globalstar exclusive access to key XCOM technologies and personnel. XCOM will receive approximately 60 million shares of Globalstar common stock. GSAT shares have risen 23.6% and 8.4% on consecutive days.

Portfolio Pulse from Adam Eckert

August 30, 2023 | 1:38 pm

DIA

IWM

QQQ

SPY

Major indexes are experiencing an increase as Treasury yields fall following the release of key US economic data.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 1:33 pm

SYT

SYLA Technologies Co., Ltd. (NASDAQ:SYT) has announced the sale of a condominium development site in Tokyo, Japan through its subsidiary, SYLA Co. The sale is part of SYLA Co.'s real estate development and management strategy, which includes third-party projects and comprehensive services for condominium development, leasing, and building management. The revenue from this sale has already been included in the consolidated earnings forecast for the fiscal year ending December 31, 2023.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:39 pm

ONDS

Ondas Holdings Inc. (NASDAQ:ONDS) has been awarded a grant of approximately $540,000 by the Israel Innovation Authority to support the development of its Iron Drone Raider counter-drone system, owned by its subsidiary Airobotics LTD. The system uses AI technologies to identify and intercept hostile drones and can be integrated into a variety of drone detection systems. The grant will fund a development program to enhance the system's capabilities for intercepting hostile drones in civil environments.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:37 pm

SPY

USA retail inventories excluding autos for July have been reported at 0.1%, lower than the previous month's 0.3%.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 12:30 pm

CVX

Chevron Corporation has evacuated staff from three of its Gulf of Mexico oil production platforms due to concerns over Hurricane Idalia. All staff were removed from the Genesis platform, while only non-essential workers were evacuated from the Blind Faith and Petronius platforms. Production continues at Chevron-operated facilities.

Portfolio Pulse from Nabaparna Bhattacharya

August 30, 2023 | 12:27 pm

ALL

NEE

Hurricane Idalia, a Category 3 storm, has hit Florida's Gulf Coast, prompting evacuation orders and emergency responses. The storm is expected to produce sustained winds of 130 mph and a storm surge of up to 15 feet. The utility and insurance sectors, including companies like NextEra Energy Inc. (NEE) and Allstate Corp (ALL), could see stock volatility in the aftermath. The agriculture sector, particularly Florida's citrus industry, is also at risk.

Portfolio Pulse from Michael Cohen

August 30, 2023 | 12:13 pm

IEX

IDEX Corporation (NYSE:IEX) has appointed Allison S. Lausas as interim Chief Financial Officer, following the resignation of William K. Grogan. The changes will be effective from September 15, 2023. Lausas, who joined IDEX two years ago, will continue to serve as Vice President and Chief Accounting Officer during this interim period. IDEX has begun a search for a permanent CFO.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:10 pm

AAMC

Altisource Asset Management Corporation (AAMC) announced the resignation of CEO Jason Kopcak. The company is restructuring its lending operations and has made significant progress on cost-cutting initiatives and enhancing liquidity. Danya Sawyer, COO of Alternative Lending Group, has been appointed as Interim CEO. The company has reduced costs, streamlined operations, and reduced reliance on short-term lines of credit.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 12:09 pm

BLRX

BioLine Rx reported Q2 losses of $(0.30) per ADS, a 1400% decrease from $(0.02) per ADS YoY. The company has cash and equivalents of $32.8M, which is expected to provide a cash runway into the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 11:49 am