Streetbeat News

Assets

ADAUSD

Cardano's (CRYPTO: ADA) price has fallen 3.7% to $0.26 in the past 24 hours, continuing its negative trend over the past week with a 11.0% loss. The trading volume for the coin has increased 45.0% over the past week while the overall circulating supply of the coin has increased 0.15% to over 35.05 billion. The current market cap ranking for ADA is #8 at $8.99 billion.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:00 pm

MATICUSD

Polygon's (CRYPTO: MATIC) price has fallen 5.17% to $0.54 in the past 24 hours, continuing its negative trend over the past week with a 20.0% loss. Trading volume has climbed 87.0% over the past week along with the circulating supply of the coin, which has increased 0.12%. The current market cap ranking for MATIC is #13 at $4.99 billion.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 3:00 pm

RIO

UEC

Uranium Energy Corp (UEC) has completed the acquisition of exploration-stage projects in the Athabasca Basin, Saskatchewan, Canada from Rio Tinto Exploration Canada Inc., a subsidiary of Rio Tinto PLC (RIO). The deal, worth C$1.5 million, includes a 60% equity stake in the Henday Lake joint venture, 100% of the Milliken project, and a 50% stake in the Carswell joint venture project. This acquisition adds 44,444 acres to UEC's existing portfolio and aligns with its strategy of expanding its footprint in Canada.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 2:59 pm

005380.KS

VFS

SGI, a supplier of magnets to Vietnamese EV maker VinFast and Korea's Hyundai Motor, is investing $80 million in a new factory in Vietnam, with production starting in 2024. The move is seen as a countermeasure against potential Chinese trade restrictions and supply uncertainty. The new plant will nearly double SGI's current output.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 2:48 pm

MTSI

WOLF

Wolfspeed Inc (WOLF) has agreed to sell its radio frequency business to MACOM Technology Solutions Holdings Inc. (MTSI) for $125 million, comprising $75 million in cash and 711,528 shares of MACOM common stock. The deal is expected to close by the end of 2023. Following the acquisition, MACOM will gain control of WOLF's 100mm GaN wafer fabrication facility in North Carolina. Wolfspeed has revised its Q1 FY24 guidance to account for the sale.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 2:34 pm

KVUE

A significant bearish stance has been taken on Kenvue (NYSE:KVUE) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 48% bullish and 52% bearish. The whales have been targeting a price range from $22.5 to $30.0 for Kenvue over the last 3 months. The price of KVUE is currently up 2.42% at $23.45.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:31 pm

BLK

GS

VWAGY

Swedish lithium-ion battery producer Northvolt has received a $1.2 billion investment from a consortium of investors including BlackRock Inc, Goldman Sachs Group Inc, and Volkswagen AG. The investment will be used to establish new factories in Europe and North America. This reflects corporations’ interest in funding companies that are set to benefit from the transition to a low-carbon economy.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 2:28 pm

C

A significant bearish stance has been taken on Citigroup (NYSE:C) as indicated by unusual options activity. Benzinga's options scanner spotted 11 uncommon options trades for Citigroup, with the sentiment of these big-money traders being split between 36% bullish and 63% bearish. Whales have been targeting a price range from $23.0 to $65.0 for Citigroup over the last 3 months. Oppenheimer has maintained their Outperform rating on Citigroup, with a price target of $85.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 2:16 pm

SPY

USA Existing Home Sales for the month of July have decreased by 2.2%, which is less than the previous month's decrease of 3.3%.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 2:02 pm

SPY

The Richmond Manufacturing Index for August was reported at -7, in line with estimates, but slightly better than the -9 reported in the prior month.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 2:01 pm