Streetbeat News

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MSTR

Dylan LeClair, Metaplanet's Director of Bitcoin strategy, advocates for Bitcoin as a transformative asset in corporate finance, highlighting MicroStrategy's success with Bitcoin as a hedge. He suggests Bitcoin's potential to grow into a $100 trillion technology, suitable for portfolios and corporate balance sheets.

Portfolio Pulse from Khyathi Dalal

October 17, 2024 | 1:38 pm

GAME

GameSquare shares are trading higher following the announcement of preliminary Q3 financial results and a business update.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:37 pm

TSM

XRT

The European Central Bank (ECB) has cut interest rates, which is a significant monetary policy move. Chip stocks have gained following strong guidance from Taiwan Semiconductor Manufacturing Company (TSM). Additionally, September retail sales have exceeded estimates, indicating robust consumer spending.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:36 pm

CGC

Canopy Growth Corporation has prepaid $100 million on its senior secured loan, saving $14 million in interest and reducing debt. This move is part of their strategy to enhance financial discipline and balance sheet flexibility, following their acquisition of the edibles brand Wana.

Portfolio Pulse from Nina Zdinjak

October 17, 2024 | 1:33 pm

PIXY

ShiftPixy shares have been halted after experiencing a significant increase, with the stock now up by 150.0%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:33 pm

PEGY

Pineapple Energy Inc. (NASDAQ:PEGY) has terminated the lease for its former headquarters in Minnetonka, Minnesota, resulting in expected savings of approximately $480,000. The lease was originally set to expire in 2027, and the termination will save the company $17,500 per month in rent. A one-time buyout fee will be paid over 14 months.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 1:32 pm

MET

MetLife Inc. (NYSE:MET) is trading at $85.60, with a 0.49% increase in the current session. Over the past month, the stock rose by 5.77%, and by 42.66% over the past year. Its P/E ratio of 23.15 is higher than the insurance industry average of 18.7, suggesting potential overvaluation or expected future performance.

Portfolio Pulse from Benzinga Insights

October 17, 2024 | 1:30 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares fell after announcing a public offering of 262.4 million shares, expecting $1.67 billion in gross proceeds. Majority shareholder Ayar Third Investment Company, an affiliate of the Public Investment Fund, will purchase additional shares to maintain a 58.8% stake. The offering is set to close on Oct. 18, with proceeds used for general corporate purposes.

Portfolio Pulse from Adam Eckert

October 17, 2024 | 1:27 pm

PIXY

ShiftPixy, Inc. (NASDAQ:PIXY) has announced the acquisition of TurboScale, an AI technology company, for $150 million. This acquisition aims to enhance ShiftPixy's workforce management capabilities with AI-powered features. The deal is structured with $75 million in stock and $75 million in debt. Following the announcement, PIXY shares surged by 149.8% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2024 | 1:24 pm

EQX

Equinox Gold Corp. (AMEX:EQX) shares fell premarket after the company lowered its 2024 production guidance for the Greenstone Gold Mine. Despite a significant increase in Q3 production, the company revised its guidance from 175,000-205,000 ounces to 110,000-130,000 ounces. The company is focused on ramping up mining rates and plant throughput to achieve design capacity.

Portfolio Pulse from Lekha Gupta

October 17, 2024 | 1:23 pm