Streetbeat News

Assets

ADI

Analog Devices Inc. (ADI) is investing over $1 billion to expand its semiconductor wafer fabrication facility in Beaverton, Oregon. This move is expected to increase the company's production capacity.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 5:19 am

BLK

Jio Financial Services, part of Mukesh Ambani’s Reliance Group, is partnering with US firm BlackRock Inc (NYSE:BLK) to launch an asset management venture in India. Both companies plan to invest $150 million each in the new venture. The joint venture will focus on providing digital-first services, pending regulatory approval. This marks BlackRock’s second foray into India’s asset management sector, after exiting a joint venture with DSP Group in 2018.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 27, 2023 | 5:12 am

ETHUSD

Worldcoin, a project led by OpenAI co-founder Sam Altman, has drawn criticism from Twitter co-founder Jack Dorsey and others for its requirement of iris scanning to obtain its native token. The project aims to enhance economic opportunities and differentiate humans from AI. Ethereum co-founder Vitalik Buterin also expressed concerns about potential privacy breaches. Worldcoin's token, WLD, was down 8.21% at the time of the report.

Portfolio Pulse from Mehab Qureshi

July 27, 2023 | 4:48 am

BTCUSD

Robert Kennedy Jr., a candidate for the U.S. presidency, has publicly declared his support for Bitcoin and revealed that he purchased 14 BTC in May of this year. His Bitcoin treasury would currently be worth around $400,000. Kennedy touted Bitcoin as the currency of freedom and acknowledged that he became a crypto investor after facing criticism for promoting Bitcoin without actually owning any. He was the first presidential candidate to accept Bitcoin donations through the Lightning Network.

Portfolio Pulse from Mehab Qureshi

July 27, 2023 | 3:31 am

BA

Boeing Co (NYSE:BA) is facing a loss of $257 million due to the delay in Starliner's launch, bringing the total overrun costs to about $1.5 billion. SpaceX CEO Elon Musk has offered support to Boeing, stating that SpaceX has provided its knowledge of crewed parachute systems to Boeing. Meanwhile, SpaceX is about to complete all its originally contracted missions and has been awarded additional flights by NASA.

Portfolio Pulse from Anan Ashraf

July 27, 2023 | 2:54 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies traded mixed following the U.S. central bank's decision to raise the interest rate by 25 basis points. Despite the rate hike, investors remain hopeful that the Federal Reserve will eventually cease its series of interest rate increases. The global crypto market capitalization stands at $1.18 trillion, a 0.93% increase in the last day. The US stock market experienced a decline on Wednesday following a Federal Reserve rate hike and major corporate earnings. Analysts warn that Bitcoin may be prone to corrections post-halving.

Portfolio Pulse from Mehab Qureshi

July 27, 2023 | 2:37 am

QQQ

SPY

T

TSLA

Benzinga's AI experiment, 'Is ChatGPT A Better Financial Advisor?' is in its eleventh week. The AI-curated portfolio, which started with a hypothetical $10,000, is compared against 10 leading U.S. equity funds. The portfolio has performed well, with a 11.21% increase, and is among the top five contenders. Tesla Inc (TSLA) has been a strong performer in the portfolio, up 56.2% since the start of the experiment, while AT&T Inc (T) has underperformed, with shares down 10.83%.

Portfolio Pulse from AJ Fabino

July 26, 2023 | 10:05 pm

EFX

Equifax (NYSE:EFX) has outperformed the market over the past 10 years by 1.9% on an annualized basis, producing an average annual return of 12.35%. If an investor had bought $100 of EFX stock 10 years ago, it would be worth $323.38 today.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 9:30 pm

ADSK

Autodesk (NASDAQ:ADSK) has outperformed the market over the past 20 years by 10.17% on an annualized basis, producing an average annual return of 18.12%. If an investor had bought $1000 of ADSK stock 20 years ago, it would be worth $28,366.67 today.

Portfolio Pulse from Benzinga Insights

July 26, 2023 | 9:30 pm

DXYN

The Dixie Group (DXYN) has announced the termination of the sale and leaseback agreement of its Adairsville, Georgia distribution facility. The reasons for the termination were not disclosed.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 9:26 pm