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USEA

United Maritime Corporation (NASDAQ:USEA) has announced the sale of its remaining LR2 tanker vessel, the M/T Epanastasea, for $37.5 million, and the acquisition of a Panamax dry bulk vessel for $17.8 million. The profit from the sale is expected to be approximately $14.2 million, with a return on equity of about 400%. The net cash surplus from the sale and acquisition is expected to be approximately $18 million.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 1:06 pm

TEDU

Tarena International has appointed Xiaobo Shao as its new CFO, effective from July 1.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:47 pm

CGC

Canopy Growth Corporation has sold its fifth facility since April 2023, generating proceeds of $61 million. The company anticipates a total of $150 million from facility divestitures by September 30, 2023. The divestitures are part of the company's transformation to an asset-light, North American focused cannabis business and aim to improve liquidity and support the path to profitability.

Portfolio Pulse from Vuk Zdinjak

June 29, 2023 | 12:40 pm

GSIT

GSI Technology, Inc. (NASDAQ:GSIT) has received an award from the Space Development Agency (SDA) with a potential total value of approximately $1.25 million. The award is for the development of a Next-Generation Associative Processing Unit-2 (APU2) for Enhanced Space-Based Capabilities. The U.S. Space Force is actively seeking solutions to address current limitations in processing big data needed to execute the mission objectives of the SDA.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:33 pm

MCOM

micromobility.com Inc. (NASDAQ:MCOM) has announced a strategic realignment of its business, discontinuing its media business to focus on its core mobility sector. The company will terminate its streaming contracts, including for the 3rd season 2023-2024 of League Serie B, which is expected to save over EUR 14 million. The savings will be redirected towards strategic initiatives such as mergers and acquisitions.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:13 pm

CGC

Canopy Growth Corporation has announced the sale of its facility in Modesto, CA, marking the fifth facility sale since April 1, 2023, for a total of CAD$81 million. The company anticipates generating up to CAD$150 million from facility divestitures by September 30, 2023. These actions align with the company's transformation to an asset-light, North American focused cannabis business and aim to strengthen its financial position.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:11 pm

NAVB

PRPH

Navidea Biopharmaceuticals has rejected an offer from ProPhase Labs to acquire certain assets of Navidea.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:04 pm

SSNLF

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) is accelerating the construction of its $40 billion factory in Arizona, with operations expected to start by 2024. The company is sending more workers from Taiwan to the US to facilitate this. A second facility is expected to produce 3-nanometre chips by 2026. TSMC's investment aligns with US President Joe Biden's plans to boost domestic semiconductor production. Meanwhile, Samsung Electronics is expanding its chip foundry business, planning to introduce 2-nanometer production for mobile phone parts by 2025.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:40 am

AMD

AMZN

MSFT

NVDA

ORCL

Oracle Corp is investing billions of dollars in Nvidia Corp chips to expand its cloud computing service targeting the AI boom. The company is also investing heavily in central processor units from Ampere Computing and Advanced Micro Device Inc. Oracle's cloud division is working to compete with larger rivals like Amazon Web Services and Microsoft Corp. In June, Oracle reported a 17% YoY increase in Q4 revenue to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:37 am

MA

V

Visa Inc has agreed to acquire Pismo, a cloud-native issuer processing and core banking platform, for $1 billion in cash. The acquisition will enable Visa to provide core banking and issuer processing capabilities across various card types and support for emerging payment rails. The deal is expected to close by the end of 2023. Mastercard Inc was also in the race to acquire Pismo.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:31 am