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RACE

Ferrari (NYSE:RACE) has outperformed the market over the past 5 years, producing an average annual return of 17.92%. If an investor had bought $100 of RACE stock 5 years ago, it would be worth $230.71 today.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 2:00 pm

GABLF

GABY Inc. has forfeited its shares in Miramar Professional Services (MPS) in exchange for the release of a $22.5M debt. The company had defaulted on its obligations under a promissory note for $22.5M, secured by a first priority security interest in the collateral, which included all outstanding shares of MPS. The company will consider the feasibility of continuing to operate its CBD business under the Lulu's and 2Rise brands.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 1:41 pm

SCBFY

Standard Chartered PLC (SCBFY) has agreed to sell its subsidiaries in sub-Saharan Africa to Access Bank in Nigeria for an undisclosed amount. The deal includes the bank's stake in its subsidiaries in Sierra Leone, Cameroon, Angola, and Gambia, as well as its consumer, private & business banking business in Tanzania. The deal aligns with Standard Chartered's strategy of enhancing operational efficiencies, decreasing complexity, and driving scale. The deal is expected to close next year.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 1:26 pm

DUNE

Dune Acquisition Corporation has announced it will restate its previously issued audited financial statements due to a clerical error in the reported net income. The company expects no impact on its cash position, revenues, or liquidity.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 1:20 pm

GRUSF

Grown Rogue International Inc. has secured $5 million through a non-brokered private placement of unsecured convertible debentures. The company also issued 13.7 million common share purchase warrants to the subscribers. The debentures will mature in four years and bear an interest rate of 9% per annum. The proceeds will be used for business expansion and general corporate purposes.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 1:17 pm

BNED

Barnes & Noble Education has filed a non-timely 10-K with the U.S. SEC. The company is also engaged in discussions with third parties to evaluate options to strengthen its liquidity and financial position.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 1:05 pm

CXAI

CXApp Inc. has added $5M to its balance sheet through warrant exercises. The company also added two Fortune 200 financial services customers last month, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 1:02 pm

CGC

Canopy Growth (NASDAQ:CGC) (TSX:WEED) shares dropped 19.07% in Friday's pre-market session after the company announced a series of agreements to deleverage its balance sheet. The agreements are expected to reduce the company's total debt by approximately $437 million over the next 6 months and lower annual interest costs by $20 to $30 million. The company will also preserve approximately $92 million in cash and reduce $100 million of principal indebtedness under the credit facility.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 12:49 pm

METX

Meten Holding Group Ltd. (NASDAQ:METX) has announced the purchase of 200 units of Antminer S19j Pro Bitcoin mining machines from two unaffiliated third parties. The company will issue ordinary shares valued at $880,000 to the sellers. The machines are expected to be operational by July 31, 2023. This purchase will increase the company's total number of mining machines to 1,954 units with a computing power of more than 208PH/s. The company plans to continue expanding its cryptocurrency business by purchasing more mining machines.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:34 pm

SPY

The USA Import Price Index has reported a year-on-year decrease of 6.1%, which is significantly lower than the estimated decrease of 3.6% and the prior decrease of 5.9%.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:31 pm