Streetbeat News

Assets

CGC

Canopy Growth has entered into an agreement to sell its Hershey Drive facility in Smiths Falls for C$53M.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:34 am

KKR

PARA

Paramount Global (NASDAQ:PARA) has reportedly abandoned its plan to sell its majority stake in BET Media Group, which includes the VH1 and BET cable networks and BET+ streaming service. The decision was made as the sale would not significantly deleverage its balance sheet. The company had received bids worth $2 billion - $3 billion for its stake. Paramount has been looking to offload non-core assets like BET stake to raise money to shift more focus to its streaming service, Paramount+.

Portfolio Pulse from Shivani Kumaresan

August 17, 2023 | 11:33 am

BABA

BILI

FXI

JD

KWEB

Alibaba Group Holding Limited (BABA) stock is trading higher in sync with the broader index ETFs IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB). The Chinese stocks got a boost from upbeat results, including Alibaba, JD.Com, Inc (JD), and Bilibili Inc (BILI). Alibaba Cloud's business communication and collaboration platform DingTalk will split from Alibaba Cloud as the latter seeks an IPO. China cut its holdings of U.S. Treasuries in June to the lowest since May 2009.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 11:29 am

SELB

Selecta Biosciences has announced plans to halt further investments in its pipeline programs, excluding SEL-212. The company will also stop or discontinue non-essential activities, following consultation with its board of directors.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:10 am

SELB

Selecta Biosciences has announced that its cash, cash equivalents, restricted cash, and marketable securities total $115M, which is expected to fund its operations into 2027.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 11:09 am

PLL

Piedmont Lithium has acquired a 22.5% stake in Atlantic Lithium Limited's Ewoyaa Lithium Project. This acquisition is expected to strengthen Piedmont's lithium supply chain.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:53 am

STLA

Stellantis (STLA) has invested over $100M in Controlled Thermal Resources (CTR) to advance the development of a geothermal lithium project. CTR is expected to start supplying battery-grade lithium hydroxide monohydrate to Stellantis in 2027. The project is expected to create 480 construction jobs and 940 direct project jobs when fully developed.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:12 am

N/A

American Strategic Investment has agreed to sell its property at 421 W. 54th Street (Hit Factory) for $4.5M. The net proceeds from the sale will be available for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 10:08 am

FXI

China's Central Bank has announced its plans to fend off systemic financial risks, adjust and optimize property policies in a timely manner, keep prices stable, and promote consumption and investment through finance. This could impact the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Charles Gross

August 17, 2023 | 9:58 am

FXI

China's Central Bank has announced that it will maintain a prudent monetary policy that will be precise and forceful. It also plans to keep liquidity reasonably ample and the Yuan exchange rate basically stable.

Portfolio Pulse from Charles Gross

August 17, 2023 | 9:56 am