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MNK

Mallinckrodt is in advanced discussions with various stakeholders about entering into a restructuring support agreement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 6:04 pm

XPEV

Shares of XPeng Inc (XPEV) are trading lower due to weak industrial production and retail sales data for July in China. The People's Bank of China's rate cut, indicating potential economic slowdown, has also impacted the stock. The automotive industry, including XPeng, could face repercussions on sales and growth due to these economic uncertainties.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 4:49 pm

BILI

Shares of Bilibili Inc - ADR (NASDAQ:BILI) are trading lower by 4.26% due to weak industrial production and retail sales data for July in China. The People's Bank of China's rate cut, indicating economic challenges, has escalated fears about the country's economic health. This could impact Bilibili's user engagement and advertising revenue. The central bank's decision to slash policy rates for the second time in three months could lead to a potential cut in China’s lending benchmark loan prime rate (LPR) in the coming week.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 4:49 pm

AMZN

July's retail sales in the US grew by 0.7% month-on-month, the highest since January 2023, and 3.2% annually, beating expectations. Economists attribute this growth to strong consumer spending despite challenges like high temperatures and Canadian wildfire smoke. Amazon Prime Day also contributed to the surge in electronic shopping. However, the strong retail sales data led to a rise in the cost of capital, potentially challenging small businesses and consumers, and putting pressure on equity markets.

Portfolio Pulse from Piero Cingari

August 15, 2023 | 4:18 pm

SPY

Federal Reserve's Neel Kashkari has stated that regional banks are under intense scrutiny, although the banking system is generally stable. However, a few banks are receiving extra scrutiny. The risk is that if the Fed has to raise rates further, banks could face more losses.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:29 pm

BABA

JD

NIO

TME

TSLA

The People's Bank of China has reduced the one-year medium-term lending facility rates by 15 basis points to 2.5% in response to economic challenges. This move has led to a decline in the Chinese yuan and U.S.-listed Chinese equities. Goldman Sachs has revised its short-term monetary outlook, predicting further easing measures in China.

Portfolio Pulse from Piero Cingari

August 15, 2023 | 2:57 pm

BEKE

Shares of KE Holdings Inc (BEKE) are trading lower by 4.97% due to weak industrial production and retail sales data for July in China. The People's Bank of China's rate cut, indicating economic challenges, could potentially reduce demand for KE Holdings' real estate services and impact its revenue streams. The company's 52-week high is $21.08 and the low is $9.09.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:55 pm

BABA

Alibaba Group Holding Ltd (NYSE:BABA) shares are trading lower following weak industrial production and retail sales data for July in China. The People's Bank of China cut rates, escalating fears about the country's economic health. Alibaba has already faced increased regulatory scrutiny in China, and these economic concerns could further dampen investor confidence in the company's future prospects.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:52 pm

BABA

JD

NIO

Chinese stocks are trading lower due to weak industrial production and retail sales data for July. The People's Bank of China's rate cut has also escalated fears about the country's economic health.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 2:33 pm

ASTS

Atlas Credit Partners (ACP) has provided a $100 million strategic financing to AST SpaceMobile, Inc. (ASTS), with $50 million funded at closing. The financing will help AST continue building a globally connected satellite-based cellular broadband network. The investment builds on AST's existing capital base of approximately $800 million and will support its partnerships with telecom industry leaders such as AT&T, Vodafone, and American Tower.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 2:02 pm