Streetbeat News

Assets

GS

Goldman Sachs reported an 18% year-over-year growth in its Asset & Wealth Management revenues for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:36 am

UBX

Unity Biotechnology announced that its 2023 cash, cash equivalents, and marketable securities totaling $43.2 million are expected to fund operations into the third quarter of 2025.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:23 am

BP

BP's electric vehicle (EV) charging subsidiary is reducing its workforce and scaling back its global expansion plans. This move reflects challenges in the EV charging market and a strategic shift by BP to focus on core markets and operations.

Portfolio Pulse from Charles Gross

April 15, 2024 | 11:17 am

BPTH

Bio-Path Holdings has expanded its intellectual property portfolio with new patents issued in Mexico, Australia, and Japan. This expansion includes filings that align with the company's technology and business strategy, bringing its total to five issued patents in the U.S. and 54 in foreign jurisdictions, covering 21 countries.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:09 am

GLRY

GPI

IHCPF

PSCD

Group 1 Automotive, Inc. (NYSE:GPI) announced the acquisition of the U.K. automotive retailing business from Inchcape PLC (OTC:IHCPF) for $439 million in an all-cash deal, expected to close in Q3 2024. The purchase includes $279 million of real estate and adds $2.7 billion in annual revenues from Inchcape's U.K. dealerships. The acquisition will expand Group 1's U.K. presence and is financed through debt and cash, maintaining a pro-forma leverage ratio of 2.2x. Investors can also gain exposure through GLRY and PSCD ETFs.

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 10:59 am

PLL

Piedmont Lithium (NASDAQ:PLL) has received approval from the North Carolina Department of Environmental Quality for a mining permit for the Carolina Lithium project in Gaston County, North Carolina. This permit allows for the construction, operation, and reclamation of the lithium project, which is crucial for the U.S. electric vehicle supply chain.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 10:56 am

BA

CRM

GE

GEV

MMM

GE has sold its historic Crotonville management academy as part of its corporate restructuring, marking a significant shift in corporate training paradigms. The sale, for $22 million to real-estate investors and family offices, reflects a broader trend among major companies like 3M, Boeing, and Salesforce, which are moving away from traditional in-person training retreats in favor of remote and on-site training methods. This move is seen as more efficient and cost-effective. GE Aerospace was launched as an independent company following the spin-off of GE Vernova Inc.

Portfolio Pulse from Shivani Kumaresan

April 15, 2024 | 10:40 am

MTB

M&T Bank's Common Equity Tier 1 (CET1) capital ratio saw an increase of 9 basis points, reaching an estimated 11.07% at the end of March 2024, up from 10.98% at the end of December 2023.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 10:25 am

VGK

Eurozone Industrial Production for February showed a month-on-month increase of 0.8%, aligning with estimates. This marks a recovery from the previous month's revised decline of -3.0%.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:42 am

EWY

SPY

SSNLF

The U.S. government is set to provide $6.4 billion in grants to Samsung Electronics as part of the Chips Act, aimed at bolstering semiconductor production.

Portfolio Pulse from Charles Gross

April 15, 2024 | 9:23 am