Streetbeat News

Assets

TROW

T. Rowe Price Gr (NASDAQ:TROW) has outperformed the market over the past 20 years, producing an average annual return of 9.08%. If an investor had bought $100 of TROW stock 20 years ago, it would be worth $554.79 today.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:00 pm

SBAC

SBA Comms (NASDAQ:SBAC) has outperformed the market over the past 20 years, producing an average annual return of 22.95%. If an investor had bought $1000 of SBAC stock 20 years ago, it would be worth $60,033.42 today. The company currently has a market capitalization of $25.30 billion.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 2:00 pm

MNST

Monster Beverage Corporation (NASDAQ:MNST) has entered into an Asset Purchase Agreement with Vital Pharmaceuticals, Inc and its debtor affiliates, Bang Energy. Under the agreement, Monster will acquire substantially all of Bang Energy's assets, including a beverage production facility in Phoenix, Arizona. The deal is part of Monster's strategy to capitalize on the growing energy drink market. Bang Energy filed for Chapter 11 bankruptcy in October 2022. Monster held around $3 billion in cash and equivalents as of March 31, 2023. MNST shares are currently trading lower by 1.29% at $56.70.

Portfolio Pulse from Shivani Kumaresan

July 03, 2023 | 1:48 pm

PANW

Palo Alto Networks's (NYSE:PANW) short percent of float has risen 5.72% since its last report, with 20.64 million shares sold short, which is 7.02% of all regular shares available for trading. It would take traders 3.31 days to cover their short positions on average. The company's short interest is higher than its peer group average of 5.30%.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 1:46 pm

BSVUSD

BTCUSD

CELOUSD

ETHUSD

GRTUSD

Bitcoin and Ethereum traded higher, with Bitcoin above the $31,000 level and Ethereum topping the $1,900 mark. Celo was the top gainer over the prior 24 hours, while UNUS SED LEO was the biggest loser. The global crypto market cap rose to $1.21 trillion, recording a 24-hour gain of 0.9%. The top five gainers were Celo, The Graph, Pepe, Filecoin, and BitDAO, while the top five losers were UNUS SED LEO, Synthetix, WOO Network, eCash, and Bitcoin SV.

Portfolio Pulse from Lisa Levin

July 03, 2023 | 1:44 pm

MNST

Monster Beverage Corporation has entered into an asset purchase agreement with Vital Pharmaceuticals, which filed for Chapter 11 protection in October 2022. The terms of the deal were not disclosed. The transaction is aimed at capitalizing on the growing energy drink market.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 12:09 pm

NIQ

Nuveen Intermediate Duration Quality Municipal Term Fund (NYSE:NIQ) has completed its termination and liquidation as of June 30, 2023. The fund, which primarily invested in municipal securities, had previously announced its liquidation plans. Upon termination, NIQ had a final net asset value of $12.9850 per share and paid a cash distribution of $12.4082 per share to all shareholders. The fund also distributed one unit of Nuveen Intermediate Duration Quality Municipal Term Fund Liquidating Trust per NIQ share owned by each shareholder.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 12:01 pm

CGC

STZ

Canopy Growth Corporation has completed all conversions pursuant to the $100 million senior unsecured convertible debentures, sold to an institutional investor in February 2023. The company has also completed several balance sheet actions to strengthen its financial position and improve profitability. These include equitization of CA$263 million of the 4.25% unsecured notes due in July 2023, paydown of $188 million of the senior secured term loan, refinancing of CA$100 million of the 4.25% unsecured notes held by Greenstar Canada Investment Limited Partnership, and generating CA$81 million in cash proceeds from the disposition of five facilities.

Portfolio Pulse from Vuk Zdinjak

July 03, 2023 | 11:43 am

MCHP

Microchip Technology Inc. has announced a $300 million multi-year investment to expand its operations in India. The investment will be used to increase the company's research and development capabilities and expand its design centers in the country.

Portfolio Pulse from Bill Haddad

July 03, 2023 | 11:31 am

BCHUSD

BLK

Bitcoin Cash (CRYPTO: BCH) surged 156% in June, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). This surge was influenced by BlackRock Inc's (NYSE:BLK) application for a Bitcoin spot ETF with the SEC and the launch of EDX Markets. The upward trend was partly fueled by a short squeeze and an unexpected volume spike on the South Korean exchange, Upbit.

Portfolio Pulse from Mehab Qureshi

July 03, 2023 | 11:21 am