Streetbeat News

Assets

AAL

DAL

Delta Air Lines (DAL) plans to extend its flight schedule to China with ten weekly flights to Shanghai from its Seattle and Detroit hubs starting October 29. In March, Delta will restart its service from Los Angeles to Shanghai, a route last used in February 2020. American Airlines (AAL) will also reportedly increase its flights to China, beginning daily operations from Dallas-Fort Worth to Shanghai in January. This comes after the Biden administration announced that the U.S. and China would allow twice the number of passenger flights currently permitted between the two countries.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 1:23 pm

BNBUSD

Nearly half of the proceeds from financial scams in Australia are being laundered through cryptocurrency platforms, according to the Australian Financial Crimes Exchange (AFCX). The AFCX estimates that Australians lost over $3 billion to financial scams in the past year. Banks have responded by imposing limitations on transfers to certain crypto exchanges deemed high-risk. Binance (CRYPTO: BNB), which faces legal challenges, has had transfers halted by many banks.

Portfolio Pulse from Murtuza Merchant

August 17, 2023 | 1:19 pm

LL

F9 Investments, LLC has disclosed an 8.8% stake in LL Flooring Holdings, according to an amended 13D filing with the SEC.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 1:12 pm

AYRWF

AYR Wellness Inc. reported Q2 2023 financial results, showing a 0.8% sequential decrease and 18% YoY increase in revenue to $116.7 million. The company also reported a gross profit of $56.6 million, an operating loss of $4.5 million, and a net loss of $30.6 million. The company plans to accelerate cash generation via its 2023 optimization plan and grow its footprint in Florida, New Jersey, Ohio, Illinois, and Connecticut.

Portfolio Pulse from Jelena Martinovic

August 17, 2023 | 1:07 pm

CELH

FRPT

JUPW

ODC

THRN

The article lists five overbought stocks in the consumer staples sector, which may present an opportunity to go short. The stocks are Jupiter Wellness, Inc. (JUPW), Celsius Holdings, Inc. (CELH), Freshpet, Inc. (FRPT), Oil-Dri Corporation of America (ODC), and Thorne HealthTech, Inc. (THRN). All these stocks have a Relative Strength Index (RSI) value above 70, indicating they are overbought.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 12:55 pm

AZUL

Azul S.A. has announced the results of its offer to purchase up to $55.9M of its outstanding 11.500% Senior Secured Second Out Notes due 2029. The aggregate principal amount of the Notes validly tendered and not validly withdrawn was $285.1M, which exceeds the Maximum Repurchase Amount. Therefore, the notes will be subject to proration. The Issuer expects to accept for purchase $55.9M aggregate principal amount of the Notes, leaving $238.3M aggregate principal amount of the Notes outstanding.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:45 pm

CEI

Camber Energy, Inc. (NYSE:CEI) has been working with Shareholder Intelligence Services LLC to identify and combat potential short selling of the company's stock. After several months of analysis, reports suggest that organizations including Merrill Lynch, TD Ameritrade, Charles Schwab, ETrade, Apex, Wedbush, and National Financial Services have the largest trade imbalances regarding the trading of Camber's stock.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:43 pm

ABVC

ABVC BioPharma has entered into a $7.4 million cooperation agreement, equivalent to 370,000 shares at $20 per share. The deal involves exchanging a 20% ownership stake in a real estate property of Zhonghui United Technology.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:38 pm

NXRT

NexPoint Residential Trust, Inc. (NXRT) has entered into contracts to sell Old Farm in Houston, TX, and Silverbrook in Dallas, TX, with expected closings in early Q4 2023. The company expects these sales to generate approximately $67M-$69M of net sales proceeds. The proceeds will be used to pay off the entire $57M outstanding balance on the corporate credit facility, reducing portfolio-level debt by approximately $156M. NXRT is also in the process of selecting buyers for other properties, with sales expected to be completed in late Q4 2023 or early Q1 2024.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 12:37 pm

HSCS

HeartSciences (NASDAQ:HSCS) has been issued a notice of patent allowance from the European Patent Office, expanding its AI patent portfolio. The patent covers quantification of key echocardiographic measures of heart function using AI methods. The company has been granted or allowed 41 patents, including nine in the U.S. and others in key international markets. CEO Andrew Simpson sees this as a major competitive advantage as the company moves toward commercialization.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 12:36 pm