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The UK's CMA cleared Amazon's purchase of iRobot, Intel announced a $4.6 billion investment in Poland, and Baidu secured a license for autonomous ride-hailing in Shenzhen. Micron plans to invest $600 million in a Chinese chip-packaging plant despite restrictions, and Alibaba plans a major European push with Tmall.

Portfolio Pulse from Vandana Singh

June 16, 2023 | 1:33 pm

MA

Mastercard Foundation plans to diversify its investment strategy to achieve long-term philanthropic goals. It intends to sell Mastercard stock over a 7-year period while retaining a significant overweight holding of Mastercard in its portfolio.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 1:26 pm

USO

Iran's crude oil exports reached over 1.5 million barrels per day in May, the highest monthly rate since 2018, with crude oil output at 3 million barrels per day in June, according to Reuters citing Kpler data.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 1:15 pm

MDLZ

Mondelez International plans to scale down its operations in Russia due to higher costs associated with the war with Ukraine. The company will discontinue new capital investments, product launches, and advertising media spending in Russia, and aims to make its Russian business a stand-alone entity with a self-sufficient supply chain by the end of the year.

Portfolio Pulse from Nabaparna Bhattacharya

June 16, 2023 | 12:49 pm

TM

Toyota Motor Corp (NYSE:TM) will receive up to $841 million in subsidies from the Japanese government to boost domestic production of batteries for electric vehicles. The mass production of batteries is expected to start in stages from October 2026, with an aim to reach a domestic output capacity of 150 GWh by 2030.

Portfolio Pulse from Shivani Kumaresan

June 16, 2023 | 12:43 pm

CUBI

Customers Bancorp (NYSE:CUBI) has acquired a $631 million venture banking loan portfolio from the FDIC at approximately 85% of book value. The company has also recruited 30 team members from the group that originated these loans to service the venture-backed growth industry.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 12:31 pm

SHFS

Safe Harbor Financial (NASDAQ:SHFS) has originated a $6.7 million first-lien secured loan for a global real estate investment firm, backed by a class A multitenant cannabis industrial property in Oakland, California. The loan will generate fee and interest revenue for Safe Harbor Financial and help the company achieve its credit issuance goals.

Portfolio Pulse from Vuk Zdinjak

June 16, 2023 | 12:30 pm

ESTE

NOG

Earthstone Energy (ESTE) has acquired Novo Oil & Gas Holdings for $1.5 billion, while Northern Oil & Gas (NOG) has acquired a 33.33% stake in Novo assets for $500 million. Analysts have raised their price targets on ESTE following the acquisition.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 12:28 pm

ORGN

Origin Materials Inc (NASDAQ:ORGN) announced the retirement of CFO Nate Whaley and has initiated a search for a replacement. Whaley will remain at the company until September 1, 2023, and hold an advisory role through the end of the year. The company recently appointed James Stephanou to the Board of Directors.

Portfolio Pulse from Lekha Gupta

June 16, 2023 | 12:16 pm

VEDU

Visionary Education Technology Holdings Group Inc. (NASDAQ:VEDU) has appointed CEO Fan Zhou as Chairman of the Board, effective June 6, 2023. Michael Viotto has also been appointed as a member of the Board. The company is a private education provider based in Canada with subsidiaries and market partners in China.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 12:10 pm