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MARA

Marathon Digital Holdings Inc (NASDAQ:MARA) provided a Bitcoin production and mining update for June, revealing that it produced 979 bitcoin, down 21% from May but up 599% YoY. The decrease was due to weather-related issues and a decline in transaction fees. The company also announced a new joint venture in Abu Dhabi and reported that it energized 18,500 Bitcoin miners in June, increasing its operational hash rate by 16% to 17.7 EH/s. Marathon Digital sold 700 bitcoin in June and ended the month with $113.7 million in cash and equivalents.

Portfolio Pulse from Adam Eckert

July 06, 2023 | 1:15 pm

IMO

Imperial Oil Inc.'s shares fell by 6.34% in the past three months. The company's total debt stands at $4.15 billion, with net debt at $1.91 billion after adjusting for $2.24 billion in cash-equivalents. The debt-ratio, a measure of financial leverage, is at 0.1 considering the company's total assets of $42.12 billion. Debt is an important factor in a company's capital structure and can help it attain growth, but it can also put the company at risk for default if interest rates increase.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 1:15 pm

USO

OPEC's forecast for oil demand growth in 2024 is expected to be lower than the growth it expects this year of 2.35 million barrels per day, or 2.4%.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:12 pm

HNHPF

MSFT

NVDA

SFTBF

SoftBank Group Corp has joined a $170 million funding round for Tokyo-based robot maker Telexistence Inc. The funds will be used to expand to the U.S. and increase headcount. Telexistence will enter a strategic partnership with SoftBank Robotics Group Corp to commercialize its robots in North America. The company already collaborates with Microsoft Corp and Nvidia Corp. Foxconn is investing via a joint fund set up with CTBC.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 12:55 pm

ADP

UUP

The U.S. job market continues to tighten with private employers adding 497,000 jobs in June, significantly beating expectations of 220,000, according to the ADP National Employment Report. However, weekly jobless claims rose slightly from 239,000 to 248,000. Following the release of this data, traders increased their forecasts for the Federal Reserve's impending rate hikes. The U.S. dollar rallied, erasing session losses, and Treasury yields spiked. Futures on the S&P 500 Index and the Nasdaq 100 Index dipped ahead of the Wall Street opening bell.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 12:54 pm

SPY

Federal Reserve official Lorie Logan has stated that the housing market may have reached its lowest point, and that the risk in the commercial real estate (CRE) sector is being monitored. She also mentioned that the rebuilding of the Treasury account is likely to come from overnight reverse repo operations, and that the outlook for the Fed's balance sheet should not affect the rate outlook. A rebound in the housing sector could potentially threaten progress.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:54 pm

BTBT

Bit Digital, Inc. announced a 5% increase in BTC production for June 2023, driven by a higher average active hash rate. The company's treasury holdings of BTC and ETH were valued at $14.8 million and $22.7 million respectively. Bit Digital also transferred 129 BTC to its strategic partner, Auros Global Limited, for yield optimization strategies. The company had cash and cash equivalents of $18.5 million.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:52 pm

EBIX

Ebix Inc. is progressing with its plan to complete an IPO of its EbixCash subsidiary in India. The company is also in advanced stages of a part-asset sale exercise, with potential proceeds sufficient to repay 100% of its bank debt. The asset sale is intended to be a liability-free transaction for the successful bidder. Ebix has received bids from a mix of strategic and financial bidders.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:44 pm

ARE

BXP

KRC

SLG

VNO

Commercial real estate transaction volumes are falling sharply in many parts of the world, including Germany, Sweden, Ireland, and the UK. This is raising concerns that the U.S. office market may soon experience the same. The drop is attributed to rising interest rates, which have increased borrowing costs and demand for yields among potential property investors. Investment bank Stifel warns that the industry may face a decade of limited earnings growth. German residential landlords, such as LEG Immobilien SE, TAG Immobilien AG, and Vonovia SE have been downgraded to a Sell. Five U.S. REITs that could be vulnerable to these changes are Boston Properties Inc., SL Green Realty Corp., Alexandria Real Estate Equities Inc., Vornado Realty Trust, and Kilroy Realty Corporation.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 12:39 pm

ALAR

Alarum Technologies Ltd has entered into a definitive agreement with TerraZone for the sale of its enterprise cybersecurity business. Alarum's consideration for this transaction is 7% of the fully diluted share capital of TerraZone. The company expects this move to enhance revenue and profitability of its comprehensive suite of solutions to its enterprise internet access customers.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:37 pm