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APO

BP

BP has sold a $1 billion non-controlling stake in its Trans Adriatic Pipeline subsidiary to Apollo, while retaining control. The deal aligns with BP's strategy to focus on gas and low-carbon projects, and contributes to its divestment targets. BP and Apollo plan to explore further investment opportunities together.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:16 am

AA

Alcoa has agreed to sell its 25.1% stake in a joint venture with Ma'aden for $1.1 billion, including $950 million in Ma'aden shares. This transaction will simplify Alcoa's portfolio in Saudi Arabia and provide greater financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 6:52 am

MSTR

Cryptocurrency markets are on the rise with Bitcoin nearing $60,000, driven by expectations of a Federal Reserve rate cut. MicroStrategy's recent Bitcoin acquisition and Bitcoin Spot ETFs inflows are notable developments. Analysts suggest this may be a last chance to buy Bitcoin at lower prices.

Portfolio Pulse from Khyathi Dalal

September 14, 2024 | 6:56 am

JTURB

SEI

J Turbines Inc has reported a 21.1% stake in Solaris Energy Infrastructure Inc as of September 11, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:20 pm

NR

Newpark Resources has sold its Fluids Systems segment to SCF Partners for a base price of $127.5 million, with net proceeds of $56 million. The sale will generate tax benefits and lead to a reclassification of the segment as Discontinued Operations. Newpark plans to use the proceeds for investments and share buybacks.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:17 pm

CLF

Cleveland-Cliffs shares are rising following the successful amendment of its $4.75 billion Asset-Based Lending facility, which is part of the financing for its pending acquisition of Stelco Holdings Inc.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:53 pm

CLF

Cleveland-Cliffs has secured a $4.75 billion amended asset-based lending facility to support its acquisition of Stelco. The facility replaces Goldman Sachs with increased commitments from multiple banks. CEO Goncalves emphasized strong support and a solid financial position to close the deal by Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:52 pm

MSTR

MicroStrategy's stock is rising following its announcement of purchasing 18,300 bitcoins.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:40 pm

BAC

BETR

RKT

Homeowners in the U.S. have reached record levels of real estate equity, with total equity hitting $35.1 trillion in Q2 2023. Mortgage debt relative to property value is at its lowest in nearly 70 years, suggesting strong consumer balance sheets. Mortgage rates have decreased, encouraging refinancing. Rocket Companies, Bank of America, and Better Home & Finance Holding Company saw mixed stock movements.

Portfolio Pulse from Michael Juliano

September 13, 2024 | 6:23 pm

ETHUSD

USDCUSD

Donald Trump's cryptocurrency portfolio has suffered a significant loss, dropping by $19.27 million over three months. His holdings, including Maga Memecoin and Ethereum, have decreased by 76.6%. Despite this, Trump is launching a new crypto project, World Liberty Financial, signaling a shift in his stance on digital currencies.

Portfolio Pulse from Murtuza Merchant

September 13, 2024 | 6:22 pm