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CVX

Chevron Corporation is considering selling several oil and gas properties in New Mexico and Texas to reduce its acreage. The company has been divesting properties in the Permian Basin of West Texas and New Mexico, where it is the most prominent publicly-traded oil and gas producer. Chevron recently auctioned for a parcel covering 2,134 net acres in New Mexico and a second surrounding 29,901 acres in New Mexico and Texas, with a combined value of about $100 million.

Portfolio Pulse from Nabaparna Bhattacharya

June 30, 2023 | 1:33 pm

BTCUSD

ETHUSD

LUNAUSD

USTUSD

South Korea has enacted the Virtual Asset User Protection Act, a legislation aimed at reinforcing protection for investors in digital assets. The law provides a framework for digital assets, prescribes punitive measures for offenses such as insider trading, and empowers the Bank of Korea to conduct investigations into cryptocurrency platforms. It applies to digital currencies like Bitcoin and Ether, while existing securities laws will continue to govern tokens considered securities. The move follows the collapse of cryptocurrencies developed by South Korean Do Kwon, which contributed to a global $2 trillion cryptocurrency market downturn.

Portfolio Pulse from Murtuza Merchant

June 30, 2023 | 1:27 pm

NAVB

Navidea Biopharmaceuticals has rejected an unsolicited offer from ProPhase Labs to acquire certain assets, stating that the proposal substantially undervalues Navidea and is not in the best interests of stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 1:18 pm

ASTI

Ascent Solar Technologies (NASDAQ:ASTI) has announced a bridge financing round for the issuance of up to 900 Series 1B Convertible Preferred shares at $1,000 per share, for aggregate gross proceeds of $900,000. The transaction is expected to close in the next few days. This financing is a significant milestone for the company, solidifying its financial position and paving the way for future growth.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 1:07 pm

SMTC

Semtech Corporation (NASDAQ:SMTC) has announced that Paul H. Pickle has joined the company as its president and CEO. As part of his employment agreement, Mr. Pickle was granted a stock unit award covering 247,305 shares of Semtech common stock, with half of these units subject to vesting based on certain financial measures and the other half based on Semtech's total shareholder return.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 1:01 pm

SPY

UUP

The Core Personal Consumption Expenditure (PCE) price index, the Federal Reserve's preferred measure of inflation, rose 4.6% YoY in May 2023, slightly down from the expected 4.7%. This led to a decrease in market expectations for a more aggressive Fed rate hike path. The U.S. dollar index (DXY), tracked by Invesco DB USD Index Bullish Fund ETF (NYSE:UUP), dipped 0.3%. Futures on the S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), surged 0.6%.

Portfolio Pulse from Piero Cingari

June 30, 2023 | 12:55 pm

MSFT

NVDA

Artificial intelligence startup Inflection AI has raised $1.3 billion in funding from Microsoft Corp and Nvidia Corp, among others, bringing the total raised by the company to $1.525 billion. The startup, co-founded by DeepMind's Mustafa Suleyman and LinkedIn creator Reid Hoffman, has launched a chatbot called Pi. With Nvidia's investment, Inflection AI now has access to 22,000 Nvidia H100 GPUs.

Portfolio Pulse from Anusuya Lahiri

June 30, 2023 | 12:51 pm

ABBV

BHC

BLCO

NVS

Bausch + Lomb Corporation (NYSE:BLCO) has agreed to acquire 'front of eye' ophthalmology assets from Novartis AG (NYSE:NVS) for $1.75 billion in upfront cash, plus additional milestone payments. The deal includes Xiidra, an eye drop for dry eye symptoms, and other assets. The acquisition is expected to bolster Bausch's stake in the profitable and expanding dry-eye market. The company forecasts total FY23 sales of $3.9-$3.95 billion. Bausch is being spun out of a larger healthcare firm, Bausch Health Companies Inc (NYSE: BHC).

Portfolio Pulse from Vandana Singh

June 30, 2023 | 12:40 pm

ICE

The New York Stock Exchange (NYSE) reported strong momentum in the first half of 2023, with 12 transfers bringing nearly $100 billion in new market capitalization. NYSE also hosted the year's largest IPO and led the industry in U.S. proceeds. It is home to 8 of the 10 largest transactions and hosted key U.S. officials including House Speaker Kevin McCarthy and Commerce Secretary Gina Raimondo.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:36 pm

BSFC

Blue Star Foods Corp. (NASDAQ: BSFC) has received an option to purchase land for its Recirculatory Aquaculture Systems (RAS) expansion in South Carolina. The company is working with the South Carolina Department of Commerce on economic development and incentives for the crab project. Preliminary proposals offer up to $3 million in incentives. The land, costing approximately $11.41 million, will be used to construct a new facility and integrate a Crab Hatchery, making it the largest Soft Shell Crab facility on the eastern shore of the US.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:34 pm