Streetbeat News

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The Nasdaq Composite gained around 100 points on Friday, with Prestige Wealth Inc. shares spiking 200% following its IPO. Gorilla Technology Group Inc. shares also rose 143% after signing a $270 million contract with the Government of Egypt. However, iMedia Brands, Inc. shares dropped 16% after receiving a delisting notice from Nasdaq following its Chapter 11 filing, and Levi Strauss & Co. shares were down 7% after lowering its annual profit outlook.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 6:30 pm

BTCUSD

Teneo, the liquidator of 3AC, is considering an attempt to recover approximately $1.2 billion from Digital Currency Group (DCG) and BlockFi. This move comes as part of the liquidation process of 3AC.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 5:45 pm

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The article lists the stocks that have gained and lost in Friday's mid-day session. Notable gainers include Prestige Wealth Inc., Gorilla Technology Group Inc., and Bluejay Diagnostics, Inc. among others. On the other hand, EdtechX Holdings Acquisition Corp. II, FOXO Technologies Inc., and Alpine Summit Energy Partners, Inc. are among the notable losers. The article also mentions that iMedia Brands, Inc. received a delisting notice from Nasdaq following its Chapter 11 filing.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 4:55 pm

IMBI

iMedia Brands, Inc. (NASDAQ:IMBI) shares dropped by 11.19% after the company was notified by Nasdaq that its common stock and 8.5% Senior Notes due 2026 will be delisted due to the company's voluntary Chapter 11 bankruptcy filing. Trading will be suspended from July 10. The company had previously received non-compliance notices for delayed filing of required reports.

Portfolio Pulse from Henry Khederian

July 07, 2023 | 1:29 pm

IMBI

iMedia Brands has received a delisting notice from Nasdaq following its Chapter 11 bankruptcy filing. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 1:27 pm

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DISH Network Corp's Chair, Charlie Ergen, is considering merging his two telecom businesses, Dish and EchoStar Corp. The companies have engaged advisors for this potential merger. Ergen is also trying to sell some of Dish's non-core assets due to struggles in selling assets and speculation of possible bankruptcy. Talks with Amazon about providing Prime customers with spectrum failed.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 10:57 am

SCLX

Scilex announced that on July 5, a bankruptcy court entered an interim order approving a Junior Dip Facility between Sorrento, Scintilla, and the company on an interim basis.

Portfolio Pulse from Charles Gross

July 07, 2023 | 10:15 am

IMBI

IMBIL

iMedia Brands has received a delisting notice from Nasdaq following its Chapter 11 bankruptcy filing. The company's stocks, listed under the symbols IMBI and IMBIL, may be affected by this development.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:27 am

MNK

Mallinckrodt has announced that the Trust has extended the due date of the opioid deferred cash payment from July 7, 2023 to July 14, 2023. The company is still analyzing its situation and engaging with stakeholders, with no assurance of the outcome, including the possibility of filing for bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:51 pm

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The Commodity Futures Trading Commission (CFTC) has found that Celsius Network (CRYPTO: CEL) and its former CEO, Alex Mashinsky, violated U.S. regulations. If the CFTC's commissioners agree, a lawsuit could be filed in federal court. Celsius Network, which collapsed following the downturn of the TerraUSD (CRYPTO: LUNA) token and the crypto market, is accused of misleading investors and failing to register with the regulatory body. Legal action has already been taken against Celsius and Mashinsky, including a lawsuit from New York Attorney General Letitia James.

Portfolio Pulse from Murtuza Merchant

July 06, 2023 | 1:11 pm