Streetbeat News

Assets

BIDU

Baidu Inc.'s shares have increased by 12.97% in the past three months. The company's total debt stands at $12.14 billion, with $9.16 billion in long-term debt and $2.98 billion in current debt. After adjusting for $7.71 billion in cash-equivalents, the net debt is $4.43 billion. Baidu's total assets are $56.69 billion, making the debt-ratio 0.21. Debt is an important factor in a company's capital structure and contributes to its growth.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 1:00 pm

GLD

SPY

The U.S. consumer price index (CPI) inflation decelerated more than predicted in June, leading to a drop in the annual inflation rate from 4% in May to 3% in June. This has increased investor conviction that the Fed may decide for only one more rate hike and then halt its tightening cycle. Following the release of the data, the dollar tumbled, treasury yields declined, and S&P 500 futures rose. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the SPDR Gold Trust ETF (NYSE:GLD) were positively impacted.

Portfolio Pulse from Piero Cingari

July 12, 2023 | 12:49 pm

DIS

Disney is reportedly exploring strategic alternatives for its Star India business, including a potential sale. The Disney+ Hotstar streaming platform is projected to lose between 8 million and 10 million subscribers in its fiscal third quarter and revenue is expected to fall approximately 20% to less than $2 billion. This comes after Disney lost a bidding war for the rights to stream Indian Premier League cricket matches last year.

Portfolio Pulse from Adam Eckert

July 12, 2023 | 12:36 pm

DIA

IWM

QQQ

SPY

The Core CPI (MoM) for June came in at 0.2%, lower than the estimated 0.3%.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:31 pm

DIA

IWM

QQQ

SPY

The Core CPI (YoY) for June came in at 4.8%, lower than the estimated 5%. This could impact the performance of ETFs like DIA, IWM, QQQ, and SPY.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:30 pm

OTIS

Otis Worldwide Corporation (OTIS) has inaugurated a new printed circuit board (PCB) production hall in Berlin, Germany. The company invested 8 million euros in the facility, which will focus on advanced PCB designs and rapid prototyping for series productions. The PCBs produced in Berlin are used in Otis elevators and escalators worldwide. The new production hall is part of the Otis SSI1 Electronics Berlin factory, which employs over 180 people.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:16 pm

AMEH

Apollo Medical Holdings (AMEH) has signed an agreement to acquire assets of Texas Independent Providers (TIP), marking its expansion into Texas. TIP provides primary care services to over 4,500 Medicare Advantage patients in Harris County. ApolloMed will use its value-based care management and operational platform to improve TIP's provider network. The transaction is expected to close in Q3 2023 and will be funded with cash on hand.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:11 pm

CVS

CVS Health Corp's unit, Caremark, experienced an unexpected system slowdown that halted prescription processing, leaving some patients without their medications. The issue affected all types of businesses managed by CVS Caremark, which funds prescriptions at thousands of drugstores. The system is now operational, but there might be temporary delays due to a backlog of prescriptions. The cause of the issue was not disclosed.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 12:06 pm

RARE

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has announced the appointment of Howard Horn as its new executive vice president and chief financial officer (CFO), effective from October 16, 2023. Horn will be responsible for leading the finance, accounting, corporate strategy, and investor relations functions.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:03 pm

DTE

DTE Energy has announced a settlement agreement with over two dozen organizations from across Michigan regarding the company's Cleanvision Integrated Resource Plan. The agreement will end the company's use of coal by 2032 and will see an investment of $11 billion into clean energy transition over the next 10 years in Michigan.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:40 am