Streetbeat News

Assets

SPY

USO

USA crude oil inventories reported a build of 7.919 million barrels, significantly higher than the estimated 1.482 million barrels and the prior draw of 0.451 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 2:30 pm

ASC

CNVS

EAST

IPX

IVA

WETG

US stocks traded mixed with Dow Jones dropping over 100 points, while NASDAQ and S&P 500 rose. Energy shares jumped by 0.9%, with NextDecade Corporation and Ardmore Shipping Corporation as top gainers. US producer prices for final demand fell 0.3% in May.

Portfolio Pulse from Lisa Levin

June 14, 2023 | 2:02 pm

SHEL

Shell's upstream boss Wael Sawan said that the company's oil exploration flow test results in Namibia are encouraging. This could potentially lead to new oil discoveries for the company.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 1:57 pm

AAPL

DIS

EADSY

GOOGL

PFE

SHEL

The Producer Price Index (PPI) slumped 0.3% MoM in May, reaching a 28-month low. Apple invests an additional $25M in VC for minority-owned businesses. Shell boosts dividend by 15% and discloses a $5B share buyback. Airbus raises forecast for new and old aircraft deliveries. Boeing records 43% growth in May deliveries. Google's dominance in ad tech is under scrutiny by the EU. Disney delays Avatar, Marvel, and Star Wars releases. Pfizer warns of potential pediatric antibiotic shortage.

Portfolio Pulse from Vandana Singh

June 14, 2023 | 1:47 pm

COIN

MSTR

MicroStrategy founder Michael Saylor predicts a seismic shift towards a Bitcoin-centric model in the cryptocurrency landscape. He believes that regulatory dynamics will narrow the industry's focus towards Bitcoin, with only a few other proof of work tokens remaining. MicroStrategy currently holds around 140,000 Bitcoin, worth approximately $4 billion.

Portfolio Pulse from Murtuza Merchant

June 14, 2023 | 1:23 pm

RBT

Rubicon Technologies has completed the highest priority components of its 'Bridge to Profitability' plan, including securing a new term loan, recapitalizing debt, attracting additional equity investment, and reducing material costs across the organization. The company remains confident in achieving positive adjusted EBITDA for Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 12:55 pm

SCHW

Charles Schwab Corporation reported its monthly activity highlights for May 2023, with core net new assets totaling $20.7 billion and $24.5 billion excluding mutual fund clearing. Total client assets reached $7.65 trillion, up 5% YoY and flat compared to April 2023.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 12:52 pm

SPY

UUP

US Producer Price Index (PPI) fell 0.3% MoM in May, indicating deflation and raising expectations of a pause in the Fed's interest rate hike cycle. Treasury yields and the dollar declined, while S&P 500 futures remained mostly flat.

Portfolio Pulse from Piero Cingari

June 14, 2023 | 12:47 pm

AAPL

A Bank of America report suggests that Apple Inc. (NASDAQ:AAPL) may move 18% of its global iPhone production to India by 2025, due to the Indian government's production-linked incentive (PLI) scheme for mobile phones. The scheme could help India triple its domestic production to $126 billion and increase exports by five times to $55 billion by 2026.

Portfolio Pulse from Shomik Sen Bhattacharjee

June 14, 2023 | 12:41 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) has secured a commitment for a bridge loan of up to $2 million from a European entity for its subsidiary, Safe and Green Development Corporation (SG DevCo). The company has already secured $1 million, and the loan will bear a 14% interest rate per annum.

Portfolio Pulse from Happy Mohamed

June 14, 2023 | 12:33 pm