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EWG

The Germany Services Purchasing Managers Index (PMI) for June came in at 53.5, below the estimated 54.4 and the prior month's 54.2. This indicates a slower expansion in the services sector than anticipated.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 7:49 am

VGK

The preliminary Germany Manufacturing Purchasing Managers Index (PMI) for June came in at 43.4, significantly below the estimated 46.4 and the prior 45.5. This indicates a contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 7:45 am

EWQ

The France Services Purchasing Managers Index (PMI) for June came in at 48.8, below the estimated 50.0 and the prior 49.3. This indicates a contraction in the services sector.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 7:44 am

EWQ

The France Manufacturing Purchasing Managers Index (PMI) for June came in at 45.3, below the estimated 46.8 and the prior 46.4. This indicates a contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 7:44 am

BTCUSD

TSLA

Naval Ravikant, a prominent investor, has reiterated his belief in Bitcoin as the ultimate store of value among cryptocurrencies. He shared his views on X, formerly Twitter, emphasizing Bitcoin's role as a primary store of value while other blockchains compete as mediums of exchange. Ravikant's opinion holds weight due to his significant influence in the investment community.

Portfolio Pulse from Aniket Verma

June 21, 2024 | 6:59 am

LYG

MS

NWG

SCGLY

SFTBY

Revolut, a UK-based fintech company backed by SoftBank Group Corp., is reportedly aiming for a valuation of over $40 billion in an employee share sale. The company is working with Morgan Stanley to sell approximately $500 million worth of existing shares. This valuation would represent a 21% increase from its 2021 fundraising round. Despite challenges in the European fintech market and scrutiny over its UK banking license application, Revolut continues to expand its offerings.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 6:50 am

CVU

CPI Aerostructures has settled with the SEC over financial restatements. The company aims to remediate its internal control weaknesses by December 31, 2024, and will disclose its compliance in the 2024 Annual report. Failure to comply will result in a $400,000 penalty.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 6:45 am

STM

STMicroelectronics has announced a $1.1 billion share buy-back program over three years to meet obligations related to employee stock awards and convertible bonds. The repurchased shares will be held as treasury stock and may be used for other lawful purposes if not needed for the initial purposes.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 6:22 am

TSLA

Tesla CEO Elon Musk teased 'Master Plan 4' (MP4), which is expected to focus on AI, robotics, and other technologies beyond cars. Morgan Stanley's Adam Jonas reiterated an Overweight rating on Tesla with a $310 price target, suggesting a 70.73% upside. Jonas believes MP4 will connect Tesla with Musk's other ventures like SpaceX and xAI, and sees potential in autonomy and humanoid robots. Despite current challenges in the EV market, Jonas remains bullish on Tesla's long-term prospects.

Portfolio Pulse from Shanthi Rexaline

June 21, 2024 | 6:14 am

EWU

U.K. retail sales for May increased by 2.9% month-over-month, significantly surpassing the estimated 1.6% and recovering from a revised -1.8% in the prior month.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 6:05 am