Streetbeat News

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AZN

CTLT

DHR

JNJ

MRNA

NVO

Catalent Inc has finalized a deal with Elliott Investment Management, appointing four new independent directors to its board and establishing a Strategic and Operational Review Committee. The company reported Q4 adjusted EPS of $0.09, missing the consensus of $0.10, with sales of $1.07 billion, down 17% Y/Y. Catalent forecasts FY24 sales of $4.30 billion-$4.50 billion. The company has faced acquisition interest from multiple entities and has been navigating through multiple challenges recently.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 12:17 pm

SPKX

SPKY

UVXY

The ConvexityShares Daily 1x SPIKES Futures ETF (SPKX) fell about 5% on Monday, ahead of key economic data sets that could influence the Federal Reserve's decision on rate hikes next month. The SPKY is a 1.5X leveraged fund that tracks the SPIKES Futures Short-Term Index and measures volatility in a similar way to ProShares Ultra VIX Short Term Futures ETF (UVXY). The market is currently pricing in an 80% probability that the central bank will keep rates steady in September, but a 61% chance of a rate hike in November.

Portfolio Pulse from Melanie Schaffer

August 29, 2023 | 11:49 am

COP

CVX

EOG

ERX

SLB

XOM

Direxion Energy Bull 2X Shares (ERX) closed 1.39% higher on Monday, bouncing up from the 200-day simple moving average (SMA) on Aug. 24. The energy sector has been on an upswing, with ERX offering leverage for sophisticated traders. ERX is a double-leveraged fund designed to outperform companies in the S&P Energy Select Sector Index by 200%. Exxon Mobil Corp (XOM) and Chevron Corporation (CVX) make up 42.15% of its weighted holdings. Other top names in the ETF include EOG Resources Inc (EOG), ConocoPhillips (COP), and Schlumberger NV (SLB).

Portfolio Pulse from Melanie Schaffer

August 29, 2023 | 11:48 am

IREN

NVDA

Iris Energy Limited (NASDAQ:IREN), a Bitcoin mining data center operator, has purchased 248 NVIDIA H100 GPUs for approximately $10 million. The GPUs will be used to target generative AI.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 11:32 am

OCEA

Ocean Biomedical Inc (NASDAQ:OCEA) has been granted a patent by the United States Patent and Trademark Office for its anti-Chitinase 1 small molecule candidate, a key factor in controlling and inhibiting fibrosis progression. The patent covers potential applications in several major fibrotic diseases. Ocean Biomedical is the exclusive licensee of this patent family. The company's approach has shown an 85%-90% reduction in collagen accumulation in four different pulmonary fibrosis animal models.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 11:30 am

BTCUSD

In 2018, rapper Eminem mentioned Bitcoin in a song on his album 'Kamikaze', contributing to the cryptocurrency's public awareness. If one had invested $100 in Bitcoin when the album was released, their investment would have grown to $368.81, a 268.81% increase. As of now, Bitcoin's price stands at $26,012.

Portfolio Pulse from Mehab Qureshi

August 29, 2023 | 10:48 am

EA

GOOG

META

MSFT

SPOT

The first half of 2023 saw significant tech meltdowns, with Meta Platforms Inc.'s Instagram experiencing a major outage. Elon Musk's X, formerly known as Twitter, maintained relative service stability. Other services like Microsoft Corporation's 365, EA, Alphabet Inc.'s YouTube, Steam, and Spotify Inc. also experienced significant outages. The rivalry between Musk and Zuckerberg intensified following the introduction of Threads, a text-based app launched by Instagram.

Portfolio Pulse from Ananya Gairola

August 29, 2023 | 8:58 am

TM

Toyota Motor Corp (NYSE:TM) has halted production in Japan due to a malfunction in the production order system. All 25 lines in Toyota’s 12 vehicle plants in Japan have been out of operation since Tuesday morning. The company is currently working on identifying the cause and restoring the system.

Portfolio Pulse from Anan Ashraf

August 29, 2023 | 8:20 am

NSC

Norfolk Southern Corporation (NYSE:NSC) experienced a hardware-related technology outage that impacted rail operations. The company has restored all systems and is bringing its rail network back online. The impact on operations is expected to last at least a couple of weeks.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 7:31 am

DOGEUSD

Babylon Bee author Ashley St. Clair has expressed her support for Dogecoin (CRYPTO: DOGE), joining a list of high-profile figures who have shown interest in the cryptocurrency. This comes after Elon Musk and Mark Cuban made remarks that led to a spike in Dogecoin's price. At the time of writing, DOGE was trading at $0.063, up 0.68% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 29, 2023 | 7:14 am