Streetbeat News

Partnerships

BTCUSD

ETHUSD

Fasset FZE, a digital asset brokerage, has obtained a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA), allowing it to offer broker-dealer services for virtual assets like Bitcoin and Ethereum. The company, backed by Investcorp, plans to launch a beta version of its services next month and a full rollout in January 2024. Fasset aims to provide access to digital assets in emerging markets and is working with the UAE Prime Minister’s Office on crypto regulation. The license and Investcorp's investment reflect growing institutional interest in blockchain technology in the Middle East.

Portfolio Pulse from Murtuza Merchant

November 30, 2023 | 5:46 pm

REE

REE Automotive Ltd (NASDAQ:REE) reported Q3 FY23 revenue of $210,000 and a net loss of $(24.1) million, an improvement from last year's $(33.5) million loss. Adjusted EPS of $(1.99) beat estimates. Operating expenses decreased by 28.4%. The company plans to scale up U.S. production by end of 2024 and has entered into a securities purchase agreement with M&G Investment Ltd. Demo trucks are expected to ship by Christmas, with certification anticipated in the coming weeks. The dealer network expansion doubled the order book to $43 million. REE shares dropped 11.5% to $5.98.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 5:11 pm

SLNH

Soluna Holdings, Inc. has registered for ERCOT's Demand Response Program, which will allow the company to generate over $10/MWh in additional revenue for Project Dorothy and potentially reduce power costs below $20/MWh. This positions Soluna as one of the lowest cost operators in the industry. The company also reported strong Q3 results with a 176% increase in revenue and an operating profit milestone. Additionally, Soluna completed the Third Amendment of October Notes to facilitate early payoff of convertible notes, signed new hosting customers at Project Sophie, and established an Advisory Board with AI and data center experts to expand its pipeline of candidates with AI expertise.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:38 pm

SLNH

Soluna Holdings, Inc. (NASDAQ:SLNH) announced the completion of its registration for Ancillary Services, aiming to diversify revenue streams. The company reported strong Q3 results with a 176% increase in revenue and an operating profit milestone. Soluna registered for ERCOT's Demand Response Program, which could add over $10/MWh in revenue and potentially reduce power costs below $20/MWh. The company also achieved hosting diversification, established an Advisory Board, and provided updates on key metrics and project developments.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:34 pm

NUMIF

Numinus Wellness (OTC:NUMIF) reported Q4 and full year fiscal 2023 results, showing a 256.9% year-over-year revenue increase to $23.2 million, largely due to the Novamind acquisition and organic growth. Q4 revenue grew 1.7% to $6.1 million, despite a gross margin decrease to 29.5%. The company reduced its cash burn rate to under $1 million per month and is focusing on profitability. Numinus also partnered with MAPS for MDMA-assisted therapy training and doubled its PAT course cohort.

Portfolio Pulse from The Dales Report

November 30, 2023 | 4:27 pm

AAPL

Apple Inc (AAPL) is considering ending its credit card and savings account partnership with Goldman Sachs due to disagreements over marketing strategies. Despite a recent 14% rise from its October low, Apple's stock has been stagnant since Thanksgiving, with $189 acting as support. If weakness continues, the stock could drop to the next support level at $182. The stock closed at $189.37, down 0.54% after the closing bell on November 29.

Portfolio Pulse from Zaheer Anwari

November 30, 2023 | 3:54 pm

CDNS

Cadence Design Systems, Inc. (CDNS) announced that Samsung Foundry successfully taped out a 5G networking SoC design using Cadence's Quantus Extraction Solution and Tempus Timing Solution. This first-time deployment of Cadence signoff solutions resulted in a 2X productivity boost and significant PPA gains for Samsung Foundry. The use of Cadence's integrated flow and tools like the Tempus ECO Option and hierarchical static timing analysis feature contributed to faster design closure and reduced project timelines.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:46 pm

EWZ

USO

Brazil is set to join the OPEC+ oil alliance next year, according to delegates. This move could potentially influence global oil production levels and impact oil prices.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:32 pm

DELL

Dell Technologies Inc. (DELL) is set to release its Q3 fiscal 2024 earnings after market close on Nov. 30, 2023. Analysts predict a decline in earnings per share to $1.46 from $2.30 in the previous year, with expected revenue of $23.02 billion. Dell recently signed a $150 million deal with AI startup Imbue. The stock closed up 1.4% at $75.06. Analysts from Deutsche Bank, Citigroup, Daiwa Capital, Evercore ISI Group, and Barclays have updated their price targets for Dell, with most maintaining a positive outlook except Barclays, which downgraded the stock.

Portfolio Pulse from Lisa Levin

November 30, 2023 | 3:11 pm

VRT

Vertiv Holdings Co. (VRT) shares rose following the announcement of a collaboration with Intel for a liquid cooling solution for the Gaudi3 AI accelerator. Additionally, Goldman Sachs reaffirmed a Buy rating on VRT and increased the price target from $46 to $52.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:05 pm