Streetbeat News

Assets

MIND

MIND Technology has announced the sale of its Klein unit for a cash consideration of $11.5 million.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:02 am

RIO

UEC

Uranium Energy Corp (UEC) has acquired a portfolio of Canadian Uranium exploration projects in Saskatchewan's Athabasca Basin from Rio Tinto Exploration Canada Inc. (RIO) for C$1.5M.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:58 am

CTRN

Citi Trends has reiterated its fiscal 2023 outlook, expecting full year total sales to be in the range of negative mid to low single-digits compared to fiscal 2022. The company plans to open 5 new stores, remodel 10-20 stores, and close 10-15 underperforming stores. Full year capital expenditures are expected to be between $15 million and $20 million, with a year-end cash balance between $85 million and $105 million.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:50 am

BTCUSD

JPM

In 2017, JPMorgan CEO Jamie Dimon dismissed Bitcoin as a 'fraud' and predicted its eventual demise. He also expressed a zero-tolerance policy towards Bitcoin trading among JPMorgan traders. However, if one had invested $100 in Bitcoin on the day of Dimon's comments, the investment would have grown by 534.54%, resulting in an exit amount of $634.54.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 10:31 am

CVX

OXY

USO

XOM

Major energy stocks were mixed in premarket trading as crude oil prices remained flat. Concerns over slowing demand from China and the pace of global economic recovery are influencing oil prices. Exxon Mobil Corp. (XOM) edged up 0.13%, Chevron Corp. (CVX) edged down 0.20%, Occidental Petroleum Corp. (OXY) remained largely unchanged, and the United States Oil Fund, LP (USO) slipped 0.12%.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 9:50 am

UUP

The New Development Bank (NDB), established by the BRICS nations, plans to issue loans in South African rand and Brazilian real, aiming to reduce reliance on the U.S. dollar. This move aligns with the BRICS nations' objective to offer alternatives to the dollar in international trade and finance. The announcement comes after China's call for emerging economies to challenge the dominance of Western G7 nations. Following the news, the U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), fell by 0.11%.

Portfolio Pulse from Ramakrishnan M

August 22, 2023 | 9:42 am

BIDU

Baidu is reportedly well-positioned to capitalize on opportunities arising from generative AI and large language models (LLM).

Portfolio Pulse from Charles Gross

August 22, 2023 | 9:04 am

DOGEUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) saw an 850% surge in its burn rate within 24 hours, with over 1 billion SHIB tokens permanently removed from circulation. This coincided with the introduction of Shibarium, an Ethereum-based layer-2 blockchain, and SHIB becoming the most traded token among the top 100 Ethereum whales. Despite this, SHIB's price fell by 4.19% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 5:44 am

BTCUSD

A Bitcoin whale has accumulated over $3 billion worth of Bitcoin since mid-May, making it the third-largest BTC address globally. The wallet has not sold any Bitcoin since its inception. The wallet's strategy involved procuring varying amounts of BTC, with the most recent transaction involving 6,600 BTC. The whale is currently experiencing a loss of more than $92.90 million. The price of Bitcoin dropped below $26,500 last week due to decreased market activity and the crisis in China's property sector.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 3:47 am

BTCUSD

COIN

DOGEUSD

ETHUSD

USDCUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline after Ethereum co-founder Vitalik Buterin deposited 600 ETH, worth approximately $1 million, to crypto exchange Coinbase. This comes amidst a wider market downturn, with ether experiencing a 10% decline over the last seven days. Coinbase is set to acquire a minority stake in Circle Internet Financial and dissolve their Centre Consortium partnership. Analysts warn that BNB is dragging down the entire crypto market.

Portfolio Pulse from Mehab Qureshi

August 22, 2023 | 2:31 am