Streetbeat News

Assets

AADI

Aadi Bioscience is planning to adjust its ongoing Phase 2 trials and significantly reduce its R&D headcount by 80%. This strategic move is aimed at extending the company's cash runway into at least the second half of 2026.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 9:04 pm

USO

The American Petroleum Institute (API) reported a weekly crude oil stock build of 347,000 barrels, contrary to the expected draw of 2.8 million barrels. This unexpected increase in crude oil inventory could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 8:48 pm

EMB

LEMB

Emerging market bonds have surged to over a two-year high, driven by expectations of a Federal Reserve interest rate cut and a weaker U.S. dollar. The iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and the iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) have seen significant gains. The U.S. dollar's depreciation, particularly against Asian and Latin American currencies, has also contributed to this trend.

Portfolio Pulse from Piero Cingari

August 20, 2024 | 8:15 pm

GLPG

FMR LLC has notified Galapagos of holding 5.61% of its voting rights, maintaining a position above the 5% threshold. This includes 3,693,550 ordinary shares and 3,200 financial instruments. Changes in holdings were noted among FMR's controlled entities.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 8:05 pm

MRAM

Everspin Technologies has secured a $14.55 million award to support long-term MRAM manufacturing for aerospace and defense industries. This funding will ensure continued on-shore production in Chandler, Arizona, meeting current and future Department of Defense and space system requirements.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 8:01 pm

SAVA

Cassava Sciences has been granted a U.S. patent for 'Solid Polymorphs of a FLNA-Binding Compound and Its Hydrochloride Salts'. This patent could enhance their intellectual property portfolio and potentially impact their market position.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 7:09 pm

BTCUSD

Raoul Pal, former Goldman Sachs executive, highlights Bitcoin as a standout asset amidst global currency debasement and predicts a future economic shift due to AI and robotics. He advises maximizing earnings before this transformation.

Portfolio Pulse from Khyathi Dalal

August 20, 2024 | 6:13 pm

HDG

PFIX

QAI

UPAR

VAMO

Hedge funds are shifting from the yen to the U.S. dollar for carry trades due to recent interest rate changes by the Bank of Japan and expectations of U.S. rate cuts. This has impacted ETFs tracking hedge fund strategies, with mixed performance observed.

Portfolio Pulse from Michael Juliano

August 20, 2024 | 6:04 pm

AMZN

COST

GLD

UUP

Gold prices have surged past $2,500 per troy ounce, pushing the value of a 400-troy-ounce gold bar to $1 million. This increase is driven by expectations of Federal Reserve interest rate cuts and a weakening U.S. dollar. The SPDR Gold Trust (GLD) and Invesco DB USD Index Bullish Fund ETF (UUP) illustrate the inverse relationship between the dollar and gold prices. Retailers like Costco, Amazon, and Walmart are making gold more accessible to individual investors.

Portfolio Pulse from Piero Cingari

August 20, 2024 | 5:09 pm

JRE

NETL

Realty Income Corporation (NYSE:O) shares are trading lower after the company priced a $500 million public offering of senior unsecured notes. The offering is expected to close on August 26. Realty Income's recent financial performance showed a beat on both FFO and sales estimates.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 5:05 pm