Streetbeat News

Assets

BAK

Braskem S.A. (NYSE:BAK) reported a Q4 recurring EBITDA of $211M, marking a 13% increase from Q3 and a significant rise from the previous year. The company's cash position stands at $3.6B, covering debt maturities for the next 72 months. Cost reductions and increased PE production in Mexico contributed to the positive results.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:11 pm

GERN

Geron Corporation (NASDAQ:GERN) announced a $150M underwritten offering of common stock and pre-funded warrants, with participation from major investment firms. The proceeds are intended for the commercialization and development of imetelstat. TD Cowen, Stifel, and Barclays are the joint book-running managers, with Wedbush PacGrow as co-manager.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:07 pm

WKHS

Workhorse Group Inc. (NASDAQ:WKHS) announced an agreement with an institutional investor for financing transactions up to $139M to support its zero emission commercial vehicles roadmap. The deal includes senior secured convertible notes and warrants, with an immediate $9M note and related warrants issued to provide liquidity for operations and redeem existing debt.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:05 pm

RITM

Rithm Capital (NYSE:RITM) has seen a 49.14% increase in short interest since its last report, with 8.31 million shares sold short, representing 1.73% of its float. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 6.94%. The rise in short interest doesn't necessarily predict a price drop, but it's an important indicator for investors.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:00 pm

TMHC

Taylor Morrison Home (NYSE:TMHC) has seen a 16.31% increase in its short percent of float since the last report, with 2.08 million shares sold short, representing 2.71% of its available shares for trading. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 5.74%. The article suggests that an increase in short interest can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:00 pm

BTCUSD

The Government Pension Investment Fund (GPIF) of Japan, the world's largest pension fund, is exploring Bitcoin (BTC) as a diversification asset amid its significant value rally. GPIF is researching various 'illiquidity assets' including Bitcoin, forests, and farmland. This interest aligns with Bitcoin reaching new all-time highs, following a year of over 130% value increase, partly due to the launch of Bitcoin ETFs in the U.S. The move reflects a shift in institutional attitudes towards cryptocurrency, despite its volatility.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 12:44 pm

TPET

Trio Petroleum Corp (TPET) has provided an update on its operations in Monterey County, California, announcing the successful production of the HH-1 well at McCool Ranch, producing approximately 47 barrels of oil per day. Additionally, the company plans to restart the 58X and 35X wells at McCool Ranch and the HV-3A well at Presidents Field in the South Salinas Project shortly. This will result in four actively producing oil wells, with plans to restart two more wells in the near future, aiming to generate significant cash flow.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:40 pm

BNRG

Brenmiller Energy reported its FY23 financial results, revealing a decrease in cash and cash equivalents to $3.18M from $6.51M in the previous year. The decrease was due to net cash used in operating activities and funds spent on the Dimona production facility, despite raising approximately $6.3M in net proceeds from fundraising. In January 2024, Brenmiller raised an additional $4M in gross proceeds through an SEC-registered offering.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:39 pm

ELVN

Enliven Therapeutics announced a $90M private placement financing, with participation from new and existing investors. The net proceeds are expected to extend the company's cash runway into late 2026, supporting key clinical milestones for ELVN-001 and ELVN-002. An event with KOLs is scheduled for April 11, 2024, to discuss Phase 1a trial data of ELVN-001 in adults with chronic myeloid leukemia.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:36 pm

ADAUSD

BNBUSD

BTCUSD

ETHUSD

SOLUSD

Bitcoin's price drop below $63,000 triggered a market-wide cryptocurrency selloff, with an 8% decline in total market cap. The Grayscale Bitcoin ETF experienced significant outflows, indicating a shift in investor sentiment. Major cryptocurrencies like Ethereum, Solana, BNB Chain, and Cardano saw drops over 9%, while meme coins like Dogwifhat and Floki experienced around 18% declines.

Portfolio Pulse from Murtuza Merchant

March 19, 2024 | 12:32 pm