Streetbeat News

Corporate Responsibility

TELL

Tellurian Inc. (TELL) announced that it will extinguish $37.9 million of its 10% senior secured notes due in 2025. In exchange, the company will issue 47.9 million shares to an institutional investor. This move is likely aimed at reducing debt and interest expenses while diluting equity.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:43 pm

Boeing has announced that its 737 Max planes can safely fly and that deliveries of these aircraft will continue. This statement comes as a reassurance to customers and stakeholders amid concerns over the safety of the 737 Max fleet, which had faced grounding in the past due to two fatal crashes.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:40 pm

AAPL

ADDDF

MCD

SBUX

Adidas and Apple are considering shifting manufacturing away from China due to security concerns and strained US-China relations. Meanwhile, McDonald's and Starbucks are expanding their presence in China, with McDonald's planning to open 3,500 new stores and Starbucks investing $220 million in a facility. Despite overall foreign investment decline in China, American fast-food chains see the large market as an opportunity. The US government continues to encourage companies to reduce reliance on China for critical materials and high-tech products.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm

META

Meta Platforms Inc.'s Chief AI Scientist, Yann LeCun, supports AI being open source, arguing it accelerates development, enhances security, and caters to global diversity. He downplays the risk of misuse by malicious actors due to the resources required and the inevitability of bad actors accessing technology. Meta's Llama 2 model exemplifies this open-source approach. LeCun has previously debated the ethics of open-source AI, contrasting it with nuclear weapons and emphasizing its role in augmenting human intelligence.

Portfolio Pulse from Rounak Jain

December 28, 2023 | 2:51 pm

VLD

Velo3D Inc (NYSE:VLD) stock price fell after announcing a registered direct offering of 36 million shares and warrants at $0.50 per share. The warrants are exercisable at $0.565 and expire in five years. The company expects to raise $18 million for working capital, capital expenditures, and general corporate purposes. The offering is expected to close on December 29. Concurrently, Velo3D amended the note for its senior secured notes due 2026. CEO Brad Kreger highlighted strategies to improve cash flow, profitability, and new business pipeline for 2024.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 2:37 pm

SGHT

Sight Sciences, Inc. (NASDAQ:SGHT) has announced that five Medicare Administrative Contractors (MACs) have withdrawn their final local coverage determinations (LCDs) for Micro-Invasive Glaucoma Surgery (MIGS) that were set to take effect on January 29, 2024. This decision means that there will be no change to the current Medicare coverage for MIGS procedures performed with Sight Sciences' OMNI Surgical System. The company's CEO, Paul Badawi, expressed appreciation for the collaborative efforts of various stakeholders in the review process and looks forward to continued engagement to ensure access to MIGS procedures.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:16 pm

BITQ

BTBT

CIFR

COIN

MSTR

PLTR

TSLA

Bitcoin SV surged 51%, outperforming Bitcoin and Ethereum. Microstrategy's increased Bitcoin holdings prompted Canaccord Genuity to raise its price target. Ark Invest bought ProShares Bitcoin ETF shares and sold Coinbase, Block, and Palantir shares. In other markets, Bit Digital and Cipher Mining stocks moved higher. US politics and economy saw developments, including corporate default warnings from Fitch and a recession forecast by Peter Schiff. Tech giants like Google, Apple, and Microsoft made headlines with AI and security updates. In the EV sector, Tesla and Xiaomi made news, while Ford recalled F-Series cars. Credit Suisse was fined by Singapore, and New Fortress Energy secured a significant contract in Brazil.

Portfolio Pulse from Akanksha Bakshi

December 28, 2023 | 2:10 pm

ZKIN

ZK International Group Co., Ltd. (ZKIN) announced a series of positive developments including the launch of a new website, rebranding, a successful $8M bid with Chongqing Gas Group, a $5M financing round, and Nasdaq compliance. The new website aims to enhance stakeholder engagement and transparency. The $8M bid strengthens ZK International's presence in the Western China Gas Market. The $5M financing will support the company's growth and international expansion. ZKIN has also resolved its bid price deficiency and is now Nasdaq compliant, with assistance from Donohoe Advisory Associates LLC.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:06 pm

CNDT

Conduent has entered into a definitive agreement to sell its Curbside Management and Public Safety Solutions for an enterprise value of approximately $260 million. This move is part of Conduent's strategy to divest non-core assets and streamline its business operations.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:35 pm

KAVL

Kaival Brands Innovations Group has announced leadership changes with Barry Hopkins taking over as Interim CEO and President, while former CEO Eric Mosser will now lead subsidiary Kaival Brands International. These strategic moves could signal a new direction for the company and its international operations.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:33 pm