Streetbeat News

Equity Actions

CRMD

IMBI

KTRA

NOVN

WAVE

Several stocks experienced significant pre-market movements. Notable gainers include Eco Wave Power Global AB (WAVE), Kintara Therapeutics (KTRA), and BlackBerry Limited (BB), while CorMedix Inc. (CRMD), iMedia Brands (IMBI), and Novan Inc. (NOVN) were among the losers. Factors influencing these movements include recent earnings reports, grant awards, and public offerings.

Portfolio Pulse from Lisa Levin

June 29, 2023 | 12:18 pm

BURU

NUBURU, Inc. (NYSE:BURU) has announced a subsequent private placement to increase its June 2023 capital raise to $9.2M from existing and new investors. This comes after a Purchase Agreement on June 12, 2023, which raised approximately $8.0 million. The additional capital will be used to continue commercialization and execute product development. The Convertible Notes are senior, unsecured obligations of the company and bear interest at the rate of seven percent per year. The Warrants have an exercise price equal to $1.03 and expire on June 23, 2028.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:15 pm

TUYA

Tuya Inc. has announced a $50 million share repurchase program. This move is typically seen as a sign of confidence in the company's future prospects.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:03 pm

SLI

TTI

XOM

Exxon Mobil Corp (XOM) has entered into a deal with Tetra Technologies Inc (TTI) to exploit over 6,100 lithium-rich acres in Arkansas, marking Exxon's second venture into resources necessary for EV battery metals production. This move aligns with a broader trend of traditional energy companies focusing on new technologies to enhance the global availability of lithium. The partnership allows Tetra to have a large partner with significant capital, assisting in bromine production from the acreage. For Exxon, the partnership provides access to another source of lithium in the U.S. as the country rapidly scales up its EV supply chain.

Portfolio Pulse from Vandana Singh

June 29, 2023 | 11:53 am

AMD

AMZN

MSFT

NVDA

ORCL

Oracle Corp is investing billions of dollars in Nvidia Corp chips to expand its cloud computing service targeting the AI boom. The company is also investing heavily in central processor units from Ampere Computing and Advanced Micro Device Inc. Oracle's cloud division is working to compete with larger rivals like Amazon Web Services and Microsoft Corp. In June, Oracle reported a 17% YoY increase in Q4 revenue to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 11:37 am

GOOG

GOOGL

META

MSFT

The tech industry is witnessing intensified rivalries among tech giants, particularly with the advent of generative artificial intelligence (AI). The competition extends to search engines, operating systems, and cloud computing. Microsoft's Bing is leveraging AI to challenge Google's dominance in the search engine market. Meta is preparing to launch a Twitter competitor, and Google has filed a complaint against Microsoft for alleged unfair practices in the cloud-computing market. AI is expected to disrupt these sectors further, with companies like Microsoft and Google rushing to release generative AI products.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 11:20 am

QQQ

SPCE

SPY

US stock futures indicate a positive start for Thursday as traders digest the Federal Reserve’s bank stress test results and strong earnings reports. The major averages ended Wednesday on a mixed note, with the Nasdaq Composite and Russell 2000 Index closing higher, while the Dow Industrials and S&P 500 Index retreated. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) rose. Stocks in focus include Virgin Galactic Holdings, Inc. (NYSE:SPCE), BlackBerry Ltd. (NYSE:BB), and Micron Technology, Inc. (NASDAQ:MU) due to their quarterly results.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 11:18 am

RLYB

Rallybio has announced the appointment of Stephen Uden as CEO, effective from August 1, 2023. Uden will also join Rallybio's Board of Directors. Martin Mackay, the current CEO, will become the Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:06 am

CSV

Carriage Services has announced that it is reviewing strategic alternatives. The company has not set a definitive timeline for this review and there is no assurance that this process will result in any specific action or transaction.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 11:00 am

JOBY

South Korea's SK Telecom has made an equity investment of $100 million in Joby Aviation, leading to a rise in Joby Aviation's share prices.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 10:14 am