Streetbeat News

Assets

AAPL

AVGO

BABA

CRON

DISH

EADSY

KKR

LVMHF

NVO

SBUX

SPOT

TSLA

TikTok plans to launch a new music streaming service in Brazil and Indonesia, posing a threat to Spotify. Cronos Group is considering a potential sale after attracting acquisition interest. DISH Network is considering merging with EchoStar Corp. Novo Nordisk has filed lawsuits against pharmacies for illegally selling products containing semaglutide. Alibaba's stock is trading higher amid reports of China looking to end its regulatory overhaul on Ant Group. Starbucks is being sued by the National Labor Relations Board for illegal termination. ChatGPT's website traffic and app downloads have declined. Zoom Video is planning to double its technology investments in the Asia-Pacific region. Broadcom is considering a major investment in Spain's semiconductor sector. Airbus delivered 72 airplanes to 48 customers in June. KKR is acquiring a majority stake in PangeaCo. Tesla is laying off some battery production workers at its Shanghai plant. LVMH-backed firm is considering an IPO of Birkenstock in the US market.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 1:31 pm

BTCUSD

Blockworks, a media brand focused on crypto, has raised $12 million at a $135 million valuation. The funds will be used to expand the company and compete with major media outlets like the Wall Street Journal. Blockworks was co-founded by Jason Yanowitz and Michael Ippolito in 2018, initially focusing on hosting conferences before moving into digital media. The company has seen exponential growth throughout 2021, partly due to partnerships with entities like Bankless. The recent funding round included participation from 10T, Framework Ventures, and Santiago Santos.

Portfolio Pulse from Renato Capelj

July 07, 2023 | 1:23 pm

TORO

Toro Corp. (NASDAQ:TORO) has completed the sale of M/T Wonder Musica, a 2004-built Aframax/LR2 tanker, for $28.0 million. The company expects to record a net gain of $17.1 million from the sale in Q3 2023, excluding any transaction-related costs.

Portfolio Pulse from Happy Mohamed

July 07, 2023 | 1:06 pm

MDGS

Medigus subsidiary, Jeffs' Brands, intends to acquire a 50.01% interest in an AI marketing business, B24Chat. The move aims to enhance Jeffs' Brands' machine learning capabilities and upgrade its marketing and services performance. The investment is valued at $1M.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 1:03 pm

SPY

UUP

The June jobs report showed a rise in nonfarm payrolls by 209,000, missing economists' expectations of 225,000. The unemployment rate dropped from 3.7% to 3.6%, while average hourly wages increased by 0.4%. The report led to a decrease in the likelihood of a second rate increase in September from 27% to 22%. The SPDR S&P 500 ETF Trust (SPY) was flat for the day, while the Invesco DB USD Index Bullish Fund ETF (UUP) fell by 0.3%.

Portfolio Pulse from Piero Cingari

July 07, 2023 | 12:55 pm

SPY

U.S. futures are pricing in an 89% chance of a 25 basis points hike this month, up slightly from before the jobs data was released. However, the odds of a rate hike in November have been pared down to 39% post-jobs, compared to 45% just before the data was released.

Portfolio Pulse from Happy Mohamed

July 07, 2023 | 12:40 pm

BTCUSD

PEPEUSD

A trader has turned an initial $12,000 investment into $1.05 million in 10 days, primarily through trading Pepe 2.0 tokens. The trader initially purchased 7.9 trillion Pepe 2.0 tokens for $90,000 and sold 5.2 trillion of them for approximately $614,000. The trader also flipped $400,000 worth of Bitcoin for 6 trillion Pepe 2.0 tokens. The trader still possesses 2.7 trillion Pepe 2.0 tokens, valued at around $533,000.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 12:11 pm

BWV

Blue Water Biotech, Inc. (NASDAQ:BWV) has received regulatory approval from the Ohio State Board of Pharmacy to operate as a pharmaceutical wholesaler. The company has recently acquired multiple FDA-approved pharmaceutical assets and announced an asset purchase agreement with WraSer, LLC and Xspire Pharma, LLC. BWV shares are trading higher by 4.50% to $1.16 in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 12:09 pm

LEEEF

LEEF Brands, Inc. has entered into a strategic partnership with Farming First Holdings, LLC. Under the agreement, Farming First will cultivate 27 acres of cannabis for LEEF, ensuring a steady supply of biomass material. LEEF also secured a right of first refusal on an additional 27 acres for the 2024 season. The company raised $600,000 through a note payable arrangement and $100,000 through the issuance of 4.7 million common shares.

Portfolio Pulse from Vuk Zdinjak

July 07, 2023 | 12:02 pm

EADSF

EADSY

Airbus SE delivered 72 airplanes to 48 customers in June, with gross orders totaling 902. The company's year-to-date deliveries totaled 316 airplanes to 73 customers. Airbus registered 1,044 net orders in the year's first half, after 36 cancellations. Last month, Airbus confirmed the order for 500 A320 Family aircraft by Indian airline IndiGo, marking the largest single purchase deal in commercial aviation history. EADSY shares closed lower by 1.92% to $35.32 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 11:52 am