Streetbeat News

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GOOGL

META

MSFT

Meta Platforms, Inc. has downsized an AI team hired to create a database of over 600 million protein structures, shifting its focus to commercializing AI products. The company has also undergone significant restructuring, including management changes and job cuts affecting about 20,000 staff. Meta's shares are trading lower by 0.20% at $316.02.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 1:45 pm

ALGOUSD

BTCUSD

ETHUSD

RPLUSD

Bitcoin (BTC) and Ethereum (ETH) traded higher, with BTC surpassing the key $29,500 level and ETH trading above the $1,800 mark. Algorand (ALGO) was the top gainer over the past 24 hours, while Rocket Pool (RPL) was the biggest loser. The global crypto market cap rose to $1.18 trillion, recording a 24-hour gain of 1.4%.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 1:39 pm

BNBUSD

ETHUSD

PYPL

Scammers are exploiting the recent introduction of PayPal's dollar-backed stablecoin, with over 66 imitation tokens appearing on platforms including Ethereum, BNB Chain, and Base. The fraudsters launch a token labeled 'PYUSD', infuse it with liquidity using ether or another token, and present it to users on a decentralized exchange platform. This scam can generate thousands of dollars within hours for the fraudsters, and can leave investors with worthless digital remnants.

Portfolio Pulse from Murtuza Merchant

August 08, 2023 | 1:19 pm

SPY

Federal Reserve's Barkin stated that the GDP remains solid and the labor market is 'remarkably resilient'. However, he also noted that inflation remains too high.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 1:16 pm

COF

ISPO

Capital One Ventures has entered into an agreement for a $25 million convertible note investment in Inspirato, a luxury travel subscription service.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 1:02 pm

JEWL

Adamas One Corp. (Nasdaq: JEWL) has announced its intention to acquire Flawless Allure Grown Diamonds, LLP (FAGD), a key lab-grown diamond manufacturer. The acquisition includes all patents, trademarks, know-how, trade secrets, supply lists and other assets of intellectual property, as well as all material assets, including property and property rights currently held by FAGD. The acquisition will allow Adamas One to control all aspects of production of lab-grown diamonds.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:53 pm

EMKR

EMCORE Corporation (NASDAQ:EMKR) has announced a nonbinding letter of intent for the sale of its Defense Optoelectronics product line and all Broadband segment product lines, except chips, to Photonics Foundries, Inc. The sale does not include EMCORE's chip business or wafer fab assets. The company expects the transaction to be completed by the end of Q3 2023, subject to further buyer diligence, receipt of certain third-party consents, and negotiation and execution of legally binding definitive transaction agreements.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:42 pm

AAPL

CGNX

DLB

IDCC

LFUS

The article lists five tech stocks that are currently oversold and could potentially boost a portfolio. These include InterDigital, Inc. (IDCC), Dolby Laboratories, Inc. (DLB), Littelfuse, Inc. (LFUS), Cognex Corporation (CGNX), and Apple Inc. (AAPL). All these stocks have an RSI value below 30, indicating they are oversold.

Portfolio Pulse from Lisa Levin

August 08, 2023 | 12:40 pm

ERJ

Embraer S.A. (NYSE:ERJ) has announced the early results of its offer to purchase for cash up to $750.0 million of its outstanding senior unsecured guaranteed notes due 2025, 2027, and 2028. The company has also amended the Tender Offer Consideration and the Total Consideration for the 2025 Notes and has delivered notice of optional redemption of all outstanding 2025 Notes. The 2025 Notes will be redeemed on September 7, 2023.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 12:38 pm

BLDP

Ballard Power Systems has received orders for 96 hydrogen fuel cell engines from Solaris Bus & Coach. The engines will be used in Solaris' Urbino 12 hydrogen buses, which are sold in Europe.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 12:37 pm