Streetbeat News

Equity Actions

BABA

BIDU

NVDA

TCEHY

The US is considering updating export controls on AI chips to limit China's access to advanced technologies with military applications. This could impact companies like Nvidia Corp. Meanwhile, China is attracting billionaires to participate in the AI race, with companies like Tencent Holdings, Alibaba Group Holding, and Baidu Inc. successfully luring renowned entrepreneurs and engineers. China's AI sector is expected to spend an estimated $15 billion on AI technology this year.

Portfolio Pulse from Ananya Gairola

June 28, 2023 | 5:50 am

AMD

ASTS

BDTX

NVDA

TSLA

U.S. stocks traded higher with the Nasdaq Composite gaining more than 200 points. Tesla, Nvidia, Black Diamond Therapeutics, Advanced Micro Devices, AST SpaceMobile, and Micron Technology were among the top stocks that gained attention. Tesla's new registrations in China accelerated, Black Diamond Therapeutics demonstrated anti-tumor activity, Nvidia partnered with Snowflake, Advanced Micro Devices saw a purchase from ARK Investment Management, AST SpaceMobile announced a public offering, and Micron Technology saw a bearish stance from a large investor.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 2:43 am

CURLF

TCNNF

Florida Governor Ron DeSantis has signed a bill allowing medical marijuana patients to renew their physician approvals via telehealth. The bill also aims to help Black farmers obtain medical marijuana licenses. The law will affect Florida's 828,000 medical marijuana patients and goes into effect on July 1. The bill is expected to resolve a long-standing conflict over licensing discrimination. However, the high cost of application and establishment could pose a challenge. Currently, Trulieve (OTC:TCNNF), Surterra, and Curaleaf (OTCQX:CURLF) control more than two-thirds of Florida's $1.2 billion medical marijuana treatment center industry.

Portfolio Pulse from Maureen Meehan

June 28, 2023 | 12:21 am

JUPW

Jupiter Wellness has set July 7, 2023, as the record date for the spin-off and distribution of shares of common stock of SRM Entertainment. The distribution is expected to be paid on or about July 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:43 pm

MNTK

Montauk Renewables plans to develop a renewable natural gas facility in Orange County, California. The project, expected to be commissioned in 2026, will process large volumes of biogas. The projected capital investment is between $85M and $95M, with a production capacity of approximately 3,600 MMBtu per day.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:38 pm

JEF

Jefferies Financial Group Inc (NYSE:JEF) reported weak Q2 earnings with revenue of $1.04 billion in line with estimates, but EPS of 5 cents missed estimates of 27 cents. Investment banking revenue was down 26% YoY and capital markets revenue was down 30%. The company declared a quarterly cash dividend of 30 cents per common share and increased its share buyback authorization to $250 million.

Portfolio Pulse from Adam Eckert

June 27, 2023 | 9:14 pm

HOG

Harley-Davidson has appointed Jonathan Root as its new CFO, effective immediately. Root has previously held roles at Ally Financial, GMAC Financial Services, and General Motors.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:08 pm

CYBN

Cybin reported a narrowed Q4 net loss of $10.1341 million. Under the previously announced $35 million ATM equity program, Cybin has the potential to issue and sell up to an additional $22 million of common shares, providing access to additional cash for growth opportunities and working capital.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 9:03 pm

EDSA

Edesa Biotech has announced the appointment of Stephen Lemieux as its new Chief Financial Officer (CFO), effective from July 15.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 8:52 pm

EAR

Eargo has announced a workforce reduction of 32-42%, which will result in non-recurring charges of $5M-$7M.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 8:51 pm