Streetbeat News

Assets

LLY

NVO

Novo Nordisk's weight-loss drug Wegovy has been successful but has side effects like severe nausea, leading to discontinuation by many users. This has sparked interest from investors and biotech companies to develop alternative weight-loss drugs with fewer side effects. Companies like Rivus Pharmaceuticals, Glyscend Therapeutics, and Antag Therapeutics are developing such alternatives. Major pharmaceutical companies like Novo Nordisk and Eli Lilly are also working on second-generation weight-loss drugs.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 11:06 am

PEGY

Pineapple Energy has announced the sale of substantially all assets of its non-core subsidiaries, JDL Technologies and Ecessa, to OneNet Global. The transaction was closed on June 30, 2023. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 11:05 am

AMZN

DISH

SATS

DISH Network Corp's Chair, Charlie Ergen, is considering merging his two telecom businesses, Dish and EchoStar Corp. The companies have engaged advisors for this potential merger. Ergen is also trying to sell some of Dish's non-core assets due to struggles in selling assets and speculation of possible bankruptcy. Talks with Amazon about providing Prime customers with spectrum failed.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 10:57 am

USO

Russia is unlikely to cut oil output in August due to increased domestic gasoline demand. However, it still plans to reduce oil exports in August, although the baseline for the cut is unclear.

Portfolio Pulse from Charles Gross

July 07, 2023 | 10:26 am

DRI

FCPT

Four Corners Property Trust Inc (FCPT) has completed the acquisition of 13 corporate-operated Darden Restaurants Inc (DRI) properties for $79.5 million. The purchase includes 12 Cheddar's Scratch Kitchen properties and 1 Olive Garden property. FCPT may acquire one more Cheddar's Scratch Kitchen property in the near term, which would increase the total transaction size to $85.0 million. Year-to-date, FCPT has acquired 71 properties for $269.1 million. As of March 31, 2023, FCPT had around $392 million of available liquidity.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 9:53 am

SAND

Sandvik, a subsidiary of Sandstorm Gold, has received a major order from an Australian customer for the supply of underground mining equipment. The order, valued at around SEK 460 million, was booked in Q2 2023, with delivery planned to begin in Q3 2023 and continue into Q2 2025.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 9:32 am

NKLA

A fire that occurred at Nikola Corp's headquarters last month remains unsolved, with no evidence supporting arson. The fire affected multiple battery electric trucks, but no one was injured. This comes after the discovery of a significant defect in the battery module of Nikola’s electric trucks. Nikola reported retail sales of 66 battery-electric trucks for the second quarter and wholesale sales of 45 trucks. The company plans to introduce its hydrogen fuel cell electric truck this quarter.

Portfolio Pulse from Anan Ashraf

July 07, 2023 | 7:22 am

BTCUSD

Changpeng Zhao, CEO of Binance, has dismissed reports of key executive departures from the company, stating that the reasons suggested by the media are completely wrong. This comes after reports that Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price, and Chief Business Officer Yibo Ling have all left the company. Zhao emphasized that personnel departures are part of the normal turnover experienced by any company.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 6:14 am

KKR

Global investment firm KKR has agreed to acquire a majority interest in PangeaCo and the fiber optic networks of Telefónica del Perú and Entel Perú. KKR plans to invest an additional $200 million to expand the digital infrastructure, aiming to double the network to at least 5.2 million homes across Perú by 2026. KKR will own a 54% controlling interest in Perú's first independent open access wholesale fiber optic network, with 36% owned by Telefónica Hispanoamérica and 10% owned by Entel Perú.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 6:05 am

FCPT

Four Corners Property Trust (FCPT) has acquired 13 properties from Darden Restaurants for $79.5 million. This brings FCPT's year-to-date acquisition volume to $269.1 million.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 5:00 am