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Assets

LOAN

Manhattan Bridge Capital (NASDAQ:LOAN) reported a 12.86% increase in earnings to $1.42 million and a 0.04% increase in sales to $2.40 million in Q2. The company posted a Return On Capital Employed (ROCE) of 0.03%, indicating effective capital allocation. The Q2 earnings per share were $0.12, beating analyst predictions of $0.11.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 2:46 pm

ALB

A significant amount of unusual options activity has been observed for Albemarle (NYSE:ALB), with 65% of investors taking a bullish stance and 35% bearish. The trades include 10 puts amounting to $1,833,575 and 10 calls amounting to $436,530. Whales have been targeting a price range of $170 to $280 for Albemarle over the last 3 months. Wells Fargo and Keybanc maintain an Overweight rating on Albemarle with price targets of $270 and $291 respectively, while Morgan Stanley downgraded its action to Underweight with a price target of $155.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 2:32 pm

AMD

INTC

NVDA

TSM

Nvidia Corp's stock is trading higher due to the artificial intelligence boom, with its sales forecast upgrade helping it reach a market cap of over $1 trillion. Demand for its latest chips is expected to outstrip supply until 2024. Startups like SambaNova, Graphcore, and Tenstorrent are struggling to catch up, despite raising billions. Advanced Micro Devices and Intel Corp are seen as more likely to take market share from Nvidia. Nvidia has recovered from a setback due to Taiwan Semiconductor Manufacturing Company's lackluster Q2 results.

Portfolio Pulse from Anusuya Lahiri

July 21, 2023 | 2:29 pm

GLMD

CVI Investments, Inc. has increased its stake in Galmed Pharmaceuticals to 9.9% as of July 14, according to a 13D filing with the SEC.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 2:17 pm

FTTUSD

Gabe Bankman-Fried, brother of Sam Bankman-Fried, planned to buy the island nation of Nauru using the FTX Foundation. This plan emerged from lawsuits filed by the FTX bankruptcy estate, which is trying to recover hundreds of millions of FTX dollars after the collapse of Sam Bankman-Fried's cryptocurrency empire. The estate alleges that these funds were customer cash that was fraudulently misappropriated. The lawsuit also includes allegations of misuse of FTX's windfalls by former executives, including Bankman-Fried.

Portfolio Pulse from Murtuza Merchant

July 21, 2023 | 2:06 pm

BIO

EVLO

Evelo Biosciences Inc (NASDAQ:EVLO) terminated its sublease agreement with Bio-Rad Laboratories Inc (NYSE:BIO), agreeing to make a termination payment of $523,556 and granting Bio-Rad the authority to draw on a letter of credit amounting to $850,000. There is also a possibility of an additional payment of up to $2.5 million. Following the news, EVLO shares rose by 27.50% and BIO shares increased by 1.35%.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 1:48 pm

CORN

SOYB

SPY

VGK

WEAT

Russia's Deputy Foreign Minister has stated that there are ongoing negotiations regarding the free export of grain, but no agreements have been reached yet.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 1:21 pm

FCX

Over the past three months, shares of Freeport-McMoRan Inc. (NYSE:FCX) increased by 10.99%. The company's total debt stands at $9.63 billion, with $9.59 billion in long-term debt and $49.00 million in current debt. After adjusting for $6.85 billion in cash-equivalents, the net debt is $2.78 billion. The debt-ratio, considering the company's total assets of $50.91 billion, is at 0.19, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 1:00 pm

DWAC

FRTX

RDHL

Digital World (DWAC) has reached a settlement with the SEC, which will allow for a review of its Form S-4 Registration Statement. Fresh Tracks (FRTX) has announced an $8.25 million buyout of its right to receive future Sofpironium Bromide payments from Botanix. RedHill (RDHL) has announced additional U.S. government funding for Opaganib Nuclear Countermeasure Development.

Portfolio Pulse from ryanfaloona@benzinga.com

July 21, 2023 | 12:31 pm

AVTX

Avalo Therapeutics has entered a non-binding Letter of Intent (LOI) for the potential sale of AVTX-801, AVTX-802, and AVTX-803. According to the LOI, the company would sell the 800 series for an upfront payment of $150,000.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 12:30 pm