Streetbeat News

Revenues

BTCUSD

Bitcoin faces potential liquidation of over $1 billion in bearish bets if its price rebounds to $62,600, according to analyst Ali Martinez. The high short liquidation leverage indicates a bearish sentiment among traders, who are at risk of significant losses if the market moves against them. Bitcoin's recent decline is attributed to investor anxiety over Mt.Gox's liquidation of $9 billion worth of the currency. However, analysts like Tom Lee predict a sharp rebound, with Bitcoin potentially hitting $150,000 in the second half of 2024.

Portfolio Pulse from Aniket Verma

July 03, 2024 | 8:41 am

BYDDF

BYDDY

Warren Buffett-backed Chinese EV giant BYD is opening its first Southeast Asia factory in Thailand, coinciding with new EU tariffs on Chinese EVs. The $486 million facility aims to export most of its 150,000 annual capacity to Southeast Asia and Europe. Despite challenges, including reduced profit forecasts and Berkshire Hathaway reducing its stake, BYD continues its aggressive international growth strategy.

Portfolio Pulse from Benzinga Neuro

July 03, 2024 | 8:24 am

GM

TSLA

General Motors (GM) reported a significant increase in Q2 EV sales, driven by the Cadillac Lyriq SUV, despite discontinuing the Chevrolet Bolt. Tesla also reported its Q2 vehicle delivery numbers, showing a slight decline but still beating estimates.

Portfolio Pulse from Anan Ashraf

July 03, 2024 | 8:12 am

FUTU

Futu Holdings announced that its wealth management business has surpassed $10 billion in assets under management (AUM).

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 7:03 am

MGNI

Magnite (NASDAQ:MGNI) announced that CairoRCS Media, a major Italian communication group, is implementing Magnite's Demand Manager to enhance programmatic monetization of their display and video inventory. The solution, built on Prebid technology, offers tools and insights to help publishers grow revenue.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 7:00 am

KOS

Kosmos Energy announced the successful start-up of oil production at the Winterfell development in the Green Canyon area of the US Gulf of Mexico.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 6:58 am

CVAC

GSK

GSK and CureVac have restructured their collaboration into a new licensing agreement, with GSK taking full control of developing and manufacturing mRNA vaccines. CureVac will receive €400M upfront and up to €1.05B in milestones. The agreement allows both companies to focus on their respective mRNA development activities.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 6:57 am

AVNW

Aviat Networks expects its recent buyout to be immediately accretive to its gross margin and to positively impact adjusted EBITDA and non-GAAP EPS within the first year.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 6:57 am

CVAC

CureVac N.V. (NASDAQ:CVAC) is restructuring to focus on high-value mRNA projects, reducing its workforce by 30%. The restructuring follows a new licensing agreement with GSK, valued at up to €1.45 billion plus royalties. CureVac aims to streamline operations, prioritize oncology programs, and reduce operational expenses by over 30% from 2025 onward.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 6:56 am

CVAC

GSK

GSK and CureVac have restructured their partnership to focus on mRNA vaccine development. GSK will take full control of developing and manufacturing the candidate vaccines, while CureVac will receive significant financial compensation and retain rights to other targets.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 6:53 am