Newborn Acquisition Corp is a blank check company.

Entrepreneur Gary Vaynerchuk, better known as Gary Vee, has been a vocal supporter of the growth of the NFT market for several years. Vee made a large purchase on Friday of one of the most well-known <a href="https://www.benzinga.com/money/what-is-a-non-fungible-token-nft/">non-fungible token</a> series.
What Happened: Vee purchased CryptoPunk #2140 for $3,764,576 according to a <a href="http://twitter.com/cryptopunksbot/status/1421178232779456524">Twitter account </a>that provides information on the series.
Larva Labs launched 10,000 CryptoPunks in 2017, a series of 24x24 pixelated avatar NFTs.
The series is considered one of the first NFT avatar projects and considered by many to be the &ldquo;holy grail&rdquo; of the NFT market.
<a href="https://www.larvalabs.com/cryptopunks/details/2140">CryptoPunk 2140 </a>is one of 24 &ldquo;Ape Punks.&rdquo; The same NFT sold for $1.18 million in March and $731,000 in February.
Vee is <a href="https://www.larvalabs.com/cryptopunks/accountInfo?account=0xd6a984153acb6c9e2d788f08c2465a1358bb89a7">listed </a>as the owner of seven&nbsp;CryptoPunks on the Larva Labs site. He spent a reported $4.88 million on the seven&nbsp;Punks with purchases ranging from $42,800 to $773,000 prior to Friday.
Related Link: <a href="http://www.benzinga.com/markets/cryptocurrency/21/04/20557845/exclusive-gary-vee-on-sports-cards-investment-options-whats-ahead-for-nfts">Exclusive: Gary Vee On Sports Cards Investment Options, What&#39;s Ahead For NFTs</a>
Why It&rsquo;s Important: The purchase by Vee marks one of several on Friday, with several others selling in the five-figure and six-figure range and some receiving bids of more than $1 million.
CryptoPunks are <a href="https://www.cryptoslam.io/">ranked </a>third by dollars on CryptoSlam, a site that tracks top NFT projects. The Punks have had $422.4 million in transaction volume across 14,775 transactions in their lifetime.
CryptoPunks trail only<a href="https://www.benzinga.com/money/how-to-buy-axie-infinity-axs/"> Axie Infinity</a> and NBA Top Shot in lifetime dollar&nbsp;volume at $800.9 million and $665.0 million, respectively. Both those projects have millions of transactions.
Prior to Friday, CryptoPunks had $19.1 million in sales in the last seven days.
A Sotheby&rsquo;s auction earlier this year <a href="https://www.theblockcrypto.com/post/108186/rare-alien-cryptopunk-fetches-11-8-million-in-sothebys-auction">saw </a>a record $11.8 million paid for a CryptoPunk NFT. The NFT was one of nine aliens out of the 10,000 Punks and was sold to Shalom Meckenzie, the largest shareholder of Draftkings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dkng#NASDAQ">DKNG</a>).
A Christie&rsquo;s auction in May sold nine Punks for $17 million, the highest amount paid for Punks.
Vee <a href="https://www.benzinga.com/markets/cryptocurrency/21/05/20962805/gary-vee-talks-nft-collection-release-value-of-smart-contracts">launched </a>his own NFT line earlier this year called VeeFriends, which includes physical rewards like a meet-up convention.
Vee has been bullish on several NFT projects but also thrown caution to the overall market given the large supply from numerous projects that could lose value over the next few years.
When it comes to CryptoPunks though, Vee remains bullish.
&ldquo;Hasn&rsquo;t even started &hellip; not worried about micro dips over next decade &hellip;&nbsp;the macro is clear,&rdquo; Vee <a href="https://twitter.com/garyvee/status/1421189738816495622">responded </a>to a Twitter user.
Watch Benzinga&rsquo;s Interview with Gary Vee, which featured a discussion on NFTs <a href="http://www.youtube.com/watch?v=ygwQ1GwifVU&amp;t=2260s">here</a>. 
&nbsp;
<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" frameborder="0" height="315" src="https://www.youtube.com/embed/9LEZSjPEt1s" width="560"></iframe>
Photo:&nbsp;<a href="https://commons.wikimedia.org/wiki/File:Gary_Vaynerchuk_public_domain.jpg">Vaynermedia, CC0, via Wikimedia Commons</a>.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

DKNG

Gary Vee Pays $3.76M For A CryptPunk, Adding To His NFT Collection: What Investors Should Know

Shares of Middlesex Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSEX#NASDAQ">MSEX</a>) moved higher by 0.5% in after-market trading after the company reported Q2 results.
<h2>Quarterly Results</h2>
Earnings per share were up 12.73% over the past year to $0.62, which beat the estimate of $0.58.
Revenue of $36,701,000 up by 4.04% year over year, which beat the estimate of $36,000,000.
<h2>Outlook</h2>
Middlesex Water hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
<h2>Technicals</h2>
Company's 52-week high was at $101.67
52-week low: $59.60
Price action over last quarter: Up 27.29%
<h2>Company Overview</h2>
Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.

Earnings

MSEX

Recap: Middlesex Water Q2 Earnings

U.S. indices were trading lower as Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) fell following earnings and as COVID-19 delta variant concerns continue to drive market uncertainty.
<ul>
<li>
The Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) closed lower by 0.52% to $364.57.
</li>
<li>
The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dia#NASDAQ">DIA</a>) lost 0.38% to $349.48.
</li>
<li>
The SPDR S&amp;P 500 ETF Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spy#NASDAQ">SPY</a>) finished lower by 0.49% to $438.51.
</li>
</ul>
Here are the day&#39;s winners and losers from the QQQ, according to data from <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
KLA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/klac#NASDAQ">KLAC</a>), Advanced Micro Devices, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) and Align Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/algn#NASDAQ">ALGN</a>) were among the top gainers for the Nasdaq Friday.
Amazon, eBay Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebay#NASDAQ">EBAY</a>) and PayPal Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>) were among the top losers for the QQQ.
<h3>Elsewhere On The Street</h3>
Amazon shares traded lower by 7% on Friday after the company reported slowing revenue growth in the second quarter and issued weak guidance for the second half of the year&hellip; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22249955/9-amazon-analysts-break-down-q2-earnings-comps-tougher-than-expected">Read More</a>
On Friday morning, Royal Caribbean Cruises (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rcl#NYSE">RCL</a>) announced six passengers on board the Royal Caribbean International&rsquo;s Adventures of the Seas tested positive for COVID-19&hellip; <a href="https://www.benzinga.com/news/21/07/22251280/6-passengers-on-royal-caribbean-cruise-test-positive-for-covid-19?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga%2Fnews+%28Channels+-+News%29">Read More</a>
Facebook Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) has been rumored to be working on smart glasses since 2019. The company announced updated plans on the long-rumored growth item during its earnings call this week&hellip; <a href="https://www.benzinga.com/news/21/07/22249396/facebook-close-to-launching-ray-ban-smart-glasses-what-investors-should-know">Read More</a>

Long Ideas

Short Ideas

After-Hours Center

Trading Ideas

ALGN

AMZN

SPDR Dow Jones Industrial Average ETF Trust

EBAY

KLAC

PYPL

Amazon, eBay Fall Sharply As The QQQ Closes Lower Friday

Brad Jacobs hasn't been denied much during what has been one of the most accomplished business careers of the past 40 years. What Jacobs has wanted, he's taken, judging by his founding of five billion-dollar businesses, three of which became very successful publicly traded companies.

Yet what has eluded Jacobs in the 10 years since he founded XPO Logistics Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>), one of those billion-dollar babies, is having his company mentioned in the same breath as Old Dominion Freight Line Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odfl#NASDAQ">ODFL</a>), Saia Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/saia#NASDAQ">SAIA</a>) and C.H. Robinson Worldwide Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrw#NASDAQ">CHRW</a>). All three trade at higher valuations than XPO, and all play in XPO's sandbox. Robinson is the nation's largest freight broker. LTL carriers Old Dominion and Saia have truckload brokerage businesses, but they are too small to move the needles at either company. Jacobs, by contrast, maintained robust brokerage and LTL operations at XPO, and both are thriving.

At 9:30 a.m. Eastern time on Monday, one day shy of his 65th birthday, Jacobs will ring the bell at the New York Stock Exchange to signal the start of trading in GXO Logistics Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gxo#NYSE">GXO</a>), XPO's one-time logistics business that has been spun off to shareholders. Once he takes his hand off the ringer, Jacobs will, as chairman and CEO, run a "pure-play" transportation company and leave the contract logistics operation in the hands of a separate public enterprise. He will also need to convince Wall Street that the XPO that remains should be accorded an equal if not superior valuation to rivals that have been more richly rewarded in part for presenting investors and analysts with a simpler road map than the old XPO.

The pre-spin XPO was routinely accorded high-single-digit to low-single-digit multiples to earnings before interest, taxes, depreciation and amortization (EBITDA). Old Dominion's, Saia's and Robinson's multiples were typically higher. For example, Old Dominion and Saia shares trade today at 20 and 15.6 times their respective 2021 EBITDA. 

Jacobs' message for several years is that XPO has been penalized with a multiple-compressing "conglomerate's because the company had too many moving parts for investors to appropriately and accurately value. By separating the two businesses into stand-alone, simpler-to-understand models, Jacobs believes the strategy will help the post-spin XPO escape the penalty box.

It promises to be an interesting ride. GXO, which Jacobs will chair but not run day to day, will hold an investment-grade credit rating from the start. GXO will become the world's largest pure-play contract logistics company, though in reality, its rivals in the narrow space are small companies. Big contract logistics providers like DHL Supply Chain are part of companies that offer other services. 

XPO will not come out of the gate with an investment-grade rating, although a company spokesman said it plans to reach that status soon after the spinoff. Acquisitions, which had been the centerpiece of the strategy that brought the company to this point, will take a way-in-the-back seat to deleverage in order to meet the investment-grade criteria, Jacobs told analysts on Thursday, the day after XPO issued its final quarterly results as a combined entity. The results were stellar, with XPO setting quarterly records for revenue and EBITDA. XPO also raised full-year earnings estimates for the transport and logistics segments.

Amit Mehrotra, the longtime Deutsche Bank analyst whose propensity for raising inconvenient truths has earned the transport C-suites' grudging respect and perhaps a slug of enmity, wondered on the call if XPO would still feel the weight of the conglomerate's discount post-spin. Mehrotra asked Jacobs if shedding the brokerage and final-mile businesses — both of which are performing at high levels and would presumably fetch handsome sums if put on the market — might be the path to elevating XPO's multiple to the level of pure-play LTL providers. 

Jacobs replied that XPO has no plans to divest the non-LTL businesses and that it will not be weighed down by the dreaded "discount." Jacobs preached patience and advised all concerned to look beyond the first two weeks or so of trading.

The spinoff also raises some intriguing scenarios. For one, there aren't that many individuals chairing two large public companies. At GXO, will Jacobs function as a traditional hands-off chairman, or will he become more involved than expected in a business that he ran until now? The XPO spokesman said there are examples of executives holding dual chairmanship positions, citing Michael Dell, the multibillionaire who heads the boards of technology companies Dell Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dell#NYSE">DELL</a>) and VMWare Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmw#NYSE">VMW</a>).

There is the issue of cross-selling. Will an XPO account executive feel pressure to steer a customer to GXO if that customer wants contract logistics services? The ability to sell a broad transport and logistics portfolio was an important part of XPO's value proposition through the latter part of the past decade. However, Jacobs has said in recent years that most of the cross-selling did not occur across the transportation and logistics businesses, but within the transportation portfolio where an LTL customer may also want final-mile and intermodal coverage. 

Jacobs will also be dealing with a Teamsters union that XPO held at bay for a decade but that recently secured its first two collective-bargaining agreements with the company. The union believes it has the momentum to further organize at XPO, but in Jacobs, it faces an implacable foe.

Successful spinoffs are not slam dunks to execute. Still, one needs to look very hard to find an analyst who will bet against Jacobs, if not the strategy. Jason H. Seidl of Cowen &amp; Co. affirmed XPO as his "top pick" on Thursday following the second-quarter results and the subsequent analyst call. LTL is in a sweet macro spot, and XPO's technology investments will bear much fruit in digitizing manual and efficient processes, Seidl said.

Seidl was also encouraged by GXO's "robust business pipeline," adding that the company will "not only continue to expand to a new customer base but also has the ability to grow business within its current customer base. The analyst has a 12-month price target of $169 a share on XPO shares. Shares on Friday closed down 1.6% to $138.69.

Todd Fowler, an analyst at KeyBanc Capital Markets, said the spinoff should result in a "simplified reporting structure" and the "potential for better alignment among shareholders with respect to service offerings, end markets, and geographic exposure. Fowler added that he expects "greater transparency around [the] assigned valuation for each business post the actual spin." Yet the relative valuation of the combined company also remains attractive, he said. Fowler has a $175-a-share 12-month target, and has assigned an "overweight" rating to shares.

The headline of Fowler's research note spoke volumes for what will transpire on Monday and what lies ahead:  "See you at the crossroads."
Image by <a href="https://pixabay.com/users/fkevin-899026/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1499377">fkevin</a> from <a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1499377">Pixabay</a>

Commodities

General

CHRW

DELL

ODFL

SAIA

The XPO-GXO Spinoff Saga: 'See You At The Crossroads'

<h3>GAINERS:</h3>
<ul>
<li><a href="https://quotes.benzinga.com/quote/RHNMF" target="_blank">Rhinomed</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rhnmf#OTC">RHNMF</a>) shares closed up 10.93% at $0.15</li>
<li><a href="https://quotes.benzinga.com/quote/IVITF" target="_blank">Invictus MD Strategies</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ivitf#OTC">IVITF</a>) shares closed up 7.44% at $0.03</li>
<li><a href="https://quotes.benzinga.com/quote/TGIFF" target="_blank">1933 Industries</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tgiff#OTC">TGIFF</a>) shares closed up 5.71% at $0.07</li>
<li><a href="https://quotes.benzinga.com/quote/BMMJ" target="_blank">Body and Mind</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmmj#OTC">BMMJ</a>) shares closed up 3.89% at $0.35</li>
<li><a href="https://quotes.benzinga.com/quote/SOLCF" target="_blank">SOL Global Investments</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/solcf#OTC">SOLCF</a>) shares closed up 3.11% at $2.65</li>
<li><a href="https://quotes.benzinga.com/quote/NDVAF" target="_blank">Indiva</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ndvaf#OTC">NDVAF</a>) shares closed up 2.73% at $0.27</li>
<li><a href="https://quotes.benzinga.com/quote/CRLBF" target="_blank">Cresco Labs</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) shares closed up 2.69% at $10.65</li>
<li><a href="https://quotes.benzinga.com/quote/CVSI" target="_blank">CV Sciences</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cvsi#OTC">CVSI</a>) shares closed up 2.34% at $0.33</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://quotes.benzinga.com/quote/CNGGF" target="_blank">Cann Gr</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnggf#OTC">CNGGF</a>) shares closed down 17.81% at $0.20</li>
<li><a href="https://quotes.benzinga.com/quote/NTEC" target="_blank">Intec Parent</a>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ntc#NASDAQ">NTC</a>) shares closed down 16.68% at $11.29</li>
<li><a href="https://quotes.benzinga.com/quote/HERTF" target="_blank">Heritage Cannabis Holding</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hertf#OTC">HERTF</a>) shares closed down 11.05% at $0.06</li>
<li><a href="https://quotes.benzinga.com/quote/MBII" target="_blank">Marrone Bio Innovations</a>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mbii#NASDAQ">MBII</a>) shares closed down 7.41% at $1.25</li>
<li><a href="https://quotes.benzinga.com/quote/CXXIF" target="_blank">C21 Investments</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cxxif#OTC">CXXIF</a>) shares closed down 7.06% at $0.79</li>
<li><a href="https://quotes.benzinga.com/quote/CNVCF" target="_blank">BioHarvest Sciences</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnvcf#OTC">CNVCF</a>) shares closed down 6.03% at $0.31</li>
<li><a href="https://quotes.benzinga.com/quote/TLRY" target="_blank">Tilray</a>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) shares closed down 5.25% at $14.61</li>
<li><a href="https://quotes.benzinga.com/quote/EAST" target="_blank">Eastside Distilling</a>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/east#NASDAQ">EAST</a>) shares closed down 4.9% at $3.88</li>
<li><a href="https://quotes.benzinga.com/quote/GHG" target="_blank">GreenTree Hospitality Gr</a>&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ghg#NYSE">GHG</a>) shares closed down 3.85% at $9.00</li>
<li><a href="https://quotes.benzinga.com/quote/KSHB" target="_blank">KushCo Holdings</a>&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/kshb#OTC">KSHB</a>) shares closed down 3.79% at $0.86</li>
<li><a href="https://quotes.benzinga.com/quote/CGC" target="_blank">Canopy Growth</a>&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) shares closed down 3.22% at $18.91</li>
<li><a href="https://quotes.benzinga.com/quote/XXII" target="_blank">22nd Century Group</a>&nbsp;(AMEX:XXII) shares closed down 3.03% at $3.20</li>
</ul>
<a href="https://www.benzinga.com/cannabis/stocks/">Check out a full list of cannabis stock movers in real-time following this link.</a>
Lead image by Ilona Szentivanyi. Copyright: Benzinga.

Cannabis

Penny Stocks

Options

Small Cap

Movers

BMMJ

CNGGF

CNVCF

CRLBF

CVSI

CXXIF

EAST

HERTF

IVITF

KSHB

MBII

NDVAF

RHNMF

SOLCF

TGIFF

TLRY

Slight Correction For Cannabis Stocks After A Ramping Week, Check Out The Top Movers For July 30, 2021

Eastman Kodak Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kodk#NYSE">KODK</a>) shares are trading higher Friday, possibly on continued momentum after the company was granted a U.S. patent for a low volume gravure inking system on Tuesday.
Eastman Kodak was up 1.65% at $7.38&nbsp;last check Friday.
<img alt="kodkdaily7-30-21.png" src="https://www.benzinga.com/files/u285825/kodkdaily7-30-21.png" style="height:400px; width:640px" />
<h3>Eastman Kodak Daily Chart Analysis</h3>
<ul>
<li>The stock looks to be trading in what technical traders call a pennant pattern that could see a breakout in the next couple months.</li>
<li>The stock trades below both the 50-day moving average (green)&nbsp;and the 200-day moving average (blue), indicating sentiment in the stock has been bearish.</li>
<li>Each of these moving averages may hold as an area of resistance.</li>
<li>The price has been hanging around pattern support and has always seen a bounce off it in the past.</li>
<li>The Relative Strength Index (RSI) might be making a turn and has been moving higher. The RSI was trading near the oversold area, but moved up to 42 meaning more buyers have been moving into the stock although the stock has more sellers.</li>
&nbsp;
</ul>
<h3>What&rsquo;s Next For Eastman Kodak?</h3>
Bullish traders are looking to see the stock form higher lows in the pattern. Eventually bulls would like to see the stock breakout of pattern resistance and make a strong move higher.
Bearish traders would like to see the stock fall and break below the pattern support. A strong bearish push may follow a break of pattern support.

Technicals

KODK

What's Next As Eastman Kodak Stock Gets A Push Up After Being Granted Patent

Guidance

Financing

AAPL

ALID

ATNF

CNBS

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

FLWPF

GRAMF

GRVI

HITI

IMCC

KTNNF

MSOS

NXTTF

RWBYF

THCX

VRNOF

YOLO

The Week In Cannabis: Tilray's Huge Week, Colin Hanks, Allen Iverson, Seth Rogen And More

MicroStrategy Incorporated&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) just reported its best second-quarter financial results in six years, MicroStrategy CEO Michael Saylor said Friday on CNBC&#39;s &quot;Squawk On The Street.&quot;
What Happened: MicroStrategy announced quarterly earnings of $1.72 per share, which beat the estimate of $1.03 per share. The company reported quarterly revenue of $125.35 million, which beat the estimate of $120.45 million.&nbsp;
Saylor told CNBC that&nbsp;MicroStrategy&nbsp;beat estimates on the top and bottom line as a result of the company&#39;s&nbsp;organic growth. He attributed the better-than-expected&nbsp;quarter to the &quot;laser-like focus of the company on business intelligence.&quot;
The Bitcoin Effect: Bitcoin (CRYPTO: BTC) has &quot;elevated our band by a factor of 100,&quot; Saylor told CNBC.
MicroStrategy announced that it acquired more than 13,000 Bitcoins for $529 million in the second quarter. The company said it plans to continue to acquire more Bitcoin moving forward.
Related Link:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/07/22246824/why-does-bitcoins-price-fluctuate-crypto-expert-weighs-in">Why Does Bitcoin&#39;s Price Fluctuate? Crypto Expert Weighs In</a>
Bitcoin is &quot;digital real estate,&quot; Saylor said, adding&nbsp;it&#39;s better than normal real estate because of its scarcity,&nbsp;tax benefits and ability to move it around.&nbsp;
MicroStrategy took on $2.2 billion in debt in order to buy Bitcoin.
Saylor told CNBC that the company pays about 1.5% interest on its debt. &quot;Being a leveraged Bitcoin long company is a good thing for our shareholders,&quot; he said.&nbsp;&quot;If I could borrow $1 billion and buy Facebook, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) a decade ago for 1% interest, I think I would have done quite well.&quot;
Alphabet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) created digital books, Facebook created digital communications, Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) created digital music and Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) created digital retail, Saylor said, adding that Bitcoin is a digital property on an open monetary network.&nbsp;
Bitcoin is &quot;the most broadly held financial asset in the history of the world,&quot; he told CNBC.&nbsp;&quot;It takes time to fully grasp the implications of something so profound.&quot;
Price Action: At last check Friday, MicroStrategy was up 0.16% at $626.01 and Bitcoin was up 0.56% at $40,258.30.
Photo&nbsp;by&nbsp;<a href="https://pixabay.com/users/thedigitalartist-202249/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3857778">Pete Linforth</a>&nbsp;from&nbsp;<a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3857778">Pixabay</a>.

Education

Media

$BTC

GOOG

GOOGL

MSTR

Michael Saylor On MicroStrategy And The Bitcoin Effect

<h3>Gainers</h3>
<ul>
<li>First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) shares moved upwards by 2.45% to $88.15 during Friday's after-market session. At the close, First Solar's trading volume reached 116.2K shares. This is 5.56% of its average volume over the last 100 days. The company's market cap stands at $9.3 billion. The company's, Q2 earnings came out yesterday. </li>
<li>Nxt-ID (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTD#NASDAQ">NXTD</a>) shares rose 2.13% to $0.78. Trading volume for this security closed at 360.4K, accounting for 9.71% of its average full-day volume over the last 100 days. The company's market cap stands at $41.3 million. </li>
<li>Research Frontiers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REFR#NASDAQ">REFR</a>) shares increased by 1.96% to $2.6. The market value of their outstanding shares is at $82.2 million. </li>
<li>Red Cat Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) shares rose 1.58% to $3.2. The market value of their outstanding shares is at $108.3 million. </li>
<li>Pure Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) stock increased by 1.17% to $19.75. Pure Storage's trading volume hit 361.7K shares by close, accounting for 7.92% of its average volume over the last 100 days. The market value of their outstanding shares is at $5.5 billion. </li>
<li>Inpixon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INPX#NASDAQ">INPX</a>) shares rose 0.97% to $1.04. The company's market cap stands at $116.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Marin Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRIN#NASDAQ">MRIN</a>) shares fell 6.53% to $7.74 during Friday's after-market session. At the close, Marin Software's trading volume reached 829.6K shares. This is 3.48% of its average volume over the last 100 days. The market value of their outstanding shares is at $84.8 million. The company's, Q2 earnings came out today. </li>
<li>Atomera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOM#NASDAQ">ATOM</a>) stock fell 3.69% to $17.0. The market value of their outstanding shares is at $391.6 million. </li>
<li>Bridgeline Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLIN#NASDAQ">BLIN</a>) shares declined by 3.13% to $6.2. The market value of their outstanding shares is at $50.5 million. </li>
<li>Socket Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCKT#NASDAQ">SCKT</a>) shares fell 2.11% to $6.5. The company's market cap stands at $46.3 million. </li>
<li>Agora (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) shares decreased by 1.84% to $31.0. The company's market cap stands at $3.5 billion. </li>
<li>eGain (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGAN#NASDAQ">EGAN</a>) stock declined by 1.46% to $11.5. The company's market cap stands at $357.6 million. </li>
</ul>

ATOM

BLIN

EGAN

FSLR

INPX

MRIN

NXTD

PSTG

RCAT

REFR

SCKT

12 Information Technology Stocks Moving In Friday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>Akerna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KERN#NASDAQ">KERN</a>) shares rose 4.66% to $3.59 during Friday's after-market session. The market value of their outstanding shares is at $90.5 million. </li>
<li>SOS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOS#NYSE">SOS</a>) stock rose 2.14% to $2.62. This security traded at a volume of 179.8K shares come close, making up 1.11% of its average volume over the last 100 days. The company's market cap stands at $490.2 million. </li>
<li>Energous (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WATT#NASDAQ">WATT</a>) shares moved upwards by 1.19% to $2.55. The market value of their outstanding shares is at $157.9 million. As per the news, the Q2 earnings report came out yesterday. </li>
<li>Blade Air Mobility (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDE#NASDAQ">BLDE</a>) shares rose 1.04% to $7.75. The market value of their outstanding shares is at $536.4 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sigma Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGLB#NASDAQ">SGLB</a>) stock declined by 1.79% to $3.31 during Friday's after-market session. The market value of their outstanding shares is at $34.7 million. </li>
<li>RCM Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCMT#NASDAQ">RCMT</a>) stock fell 1.43% to $4.14. The company's market cap stands at $45.9 million. </li>
<li>Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) stock fell 1.32% to $146.4. This security traded at a volume of 53.0K shares come close, making up 4.09% of its average volume over the last 100 days. The market value of their outstanding shares is at $61.7 billion. As per the news, the Q2 earnings report came out 3 days ago. </li>
<li>Advent Technologies Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADN#NASDAQ">ADN</a>) stock decreased by 1.29% to $7.69. The company's market cap stands at $354.7 million. </li>
<li>ADT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADT#NYSE">ADT</a>) shares decreased by 1.25% to $10.35. At the close, ADT's trading volume reached 621.2K shares. This is 20.64% of its average volume over the last 100 days. The company's market cap stands at $8.5 billion. </li>
<li>NOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNOW#NYSE">DNOW</a>) shares fell 1.17% to $9.76. At the close, NOW's trading volume reached 152.7K shares. This is 22.39% of its average volume over the last 100 days. The company's market cap stands at $1.0 billion. </li>
</ul>

BLDE

DNOW

KERN

RCMT

SGLB

WATT

10 Industrials Stocks Moving In Friday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>OneSmart Intl Edu Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONE#NYSE">ONE</a>) shares increased by 2.03% to $0.53 during Friday's after-market session. The company's market cap stands at $85.6 million. </li>
<li>GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock increased by 1.82% to $163.5. Trading volume for this security closed at 132.1K, accounting for 2.22% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $12.1 billion. </li>
<li>Lordstown Motors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIDE#NASDAQ">RIDE</a>) stock moved upwards by 1.6% to $6.34. Trading volume for this security closed at 179.0K, accounting for 1.51% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $1.1 billion. </li>
<li>Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>) stock rose 1.58% to $29.57. At the close, Gap's trading volume reached 538.7K shares. This is 8.41% of its average volume over the last 100 days. The market value of their outstanding shares is at $11.1 billion. </li>
<li>Allied Esports (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AESE#NASDAQ">AESE</a>) shares moved upwards by 1.01% to $2.0. The market value of their outstanding shares is at $78.2 million. </li>
<li>Moxian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOXC#NASDAQ">MOXC</a>) shares rose 1.0% to $18.02. The market value of their outstanding shares is at $348.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Elite Education Gr Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEIQ#NASDAQ">EEIQ</a>) stock fell 4.89% to $3.7 during Friday's after-market session. The market value of their outstanding shares is at $32.6 million. </li>
<li>Esports Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBET#NASDAQ">EBET</a>) stock fell 3.26% to $22.0. The company's market cap stands at $287.0 million. </li>
<li>Sunlands Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STG#NYSE">STG</a>) shares declined by 2.53% to $0.59. The market value of their outstanding shares is at $99.3 million. </li>
<li>Arcimoto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUV#NASDAQ">FUV</a>) stock fell 1.83% to $16.05. The market value of their outstanding shares is at $574.3 million. </li>
<li>E-Home Household Service (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EJH#NASDAQ">EJH</a>) stock declined by 1.66% to $27.92. The company's market cap stands at $936.8 million. </li>
<li>Puxin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEW#NYSE">NEW</a>) stock fell 1.46% to $0.68. The market value of their outstanding shares is at $59.3 million. </li>
</ul>

AESE

EBET

EEIQ

MOXC

Lordstown Motors Corp. - Class A Common Stock

RIDE

12 Consumer Discretionary Stocks Moving In Friday's After-Market Session

<h3>Gainers</h3>
<ul>
<li>NanoVibronix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAOV#NASDAQ">NAOV</a>) shares moved upwards by 4.8% to $2.62 during Friday's after-market session. Today's trading volume for this security ended up closing at 681.8K shares, which is 6.76 percent of its average volume over the last 100 days. The market value of their outstanding shares is at $63.1 million. </li>
<li>Harpoon Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HARP#NASDAQ">HARP</a>) stock increased by 4.69% to $10.25. Today's trading volume for this security ended up closing at 103.8K shares, which is 23.8 percent of its average volume over the last 100 days. The company's market cap stands at $333.3 million. </li>
<li>Nektar Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTR#NASDAQ">NKTR</a>) stock moved upwards by 3.16% to $16.29. This security traded at a volume of 148.5K shares come close, making up 16.46% of its average volume over the last 100 days. The market value of their outstanding shares is at $2.9 billion. </li>
<li>Dynatronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYNT#NASDAQ">DYNT</a>) shares rose 2.89% to $1.42. The market value of their outstanding shares is at $24.6 million. </li>
<li>Gritstone Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTS#NASDAQ">GRTS</a>) shares increased by 2.54% to $6.85. The market value of their outstanding shares is at $337.0 million. </li>
<li>Cassava Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) shares increased by 2.4% to $71.2. This security traded at a volume of 93.0K shares come close, making up 3.16% of its average volume over the last 100 days. The market value of their outstanding shares is at $2.8 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Erytech Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERYP#NASDAQ">ERYP</a>) stock decreased by 5.34% to $6.03 during Friday's after-market session. Erytech Pharma's trading volume hit 121.2K shares by close, accounting for 325.45% of its average volume over the last 100 days. The market value of their outstanding shares is at $159.2 million. </li>
<li>China SXT Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTC#NASDAQ">SXTC</a>) stock fell 3.21% to $1.21. The market value of their outstanding shares is at $18.7 million. </li>
<li>Medigus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDGS#NASDAQ">MDGS</a>) stock decreased by 2.96% to $1.64. The company's market cap stands at $38.9 million. </li>
<li>TCR2 Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRR#NASDAQ">TCRR</a>) shares decreased by 2.58% to $12.12. The company's market cap stands at $462.5 million. </li>
<li>Solid Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLDB#NASDAQ">SLDB</a>) shares fell 2.51% to $2.72. The company's market cap stands at $300.0 million. </li>
<li>Brainstorm Cell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCLI#NASDAQ">BCLI</a>) shares declined by 2.49% to $3.93. The company's market cap stands at $142.7 million. </li>
</ul>

BCLI

DYNT

ERYP

GRTS

HARP

MDGS

NAOV

NKTR

SAVA

SLDB

SXTC

TCRR

12 Health Care Stocks Moving In Friday's After-Market Session

Dividends

Continental Resources Raises Dividend From $0.11 To $0.15/Share

UPDATE: Marin Software Q2 Adj. EPS $(0.21) Up From $(0.36) YoY, Sales $6.09M Down From $7.28M YoY

Three additional states have implemented 30-day waivers of the federal hours-of-service rules, citing tight supplies of drivers as a reason.

The steps by Minnesota, Wyoming, and Iowa to declare a state of emergency as the basis for the waiver follow a recent decision by South Dakota to also <a href="https://www.freightwaves.com/news/south-dakota-waives-hours-of-service-to-help-petroleum-resupply">implement a 30-day HOS waiver,</a> with that state citing driver availability as well.

Minnesota Gov. Tim Walz signed the order Wednesday supported by much of the state's agricultural industry. 

Federal law allows states to declare their own 30-day waivers from HOS rules. Several states that had similar waivers in place for Hurricane Elsa are on the verge of seeing those exemptions expire in the next few days. 

In Minnesota, according to the statement issued by the governor's office, the issue is a lack of adequate drivers combined with a drought that is forcing some agricultural deliveries to go farther than normal to get products to or from markets. 

"These [drought] conditions have resulted in a significant decrease in the availability of hay and other forage in Minnesota and neighboring states," Walz's statement said. "This has prompted farmers and livestock producers to change their operations, including reducing their herd or shipping livestock earlier than normal."

Because of the drought, the statement said, there has been a drop of about 10,000 acres of "harvestable" hay "and will require farmers and livestock producers to travel farther distances to obtain hay and forage needed to feed their livestock."

The governor went on to say that such organizations as the Minnesota Farmers Union and the Minnesota Cattlemen had asked for "emergency relief measures to increase access to livestock forage."

"Strict enforcement of certain hours of service regulations would prevent or hinder the efficient transportation of forage, which is critical to maintain healthy livestock," the governor's statement added. 

The statement specifically noted the federal HOS regulation, 49 CFR § 395.3, as being waived under the state's action. However, it keeps in place the part of that rule restricting driving to 11 hours over a 14-hour period. It also said that a "fatigued or ill" driver may not be required to work. And if drivers say they need rest, they must be given 10 consecutive off-duty hours before coming back to work.

In the case of Wyoming and Iowa, the wording is similar and is targeted at deliveries of petroleum. In Wyoming, the 30-day exemption was implemented July 20. Iowa's is more recent, going into effect Thursday.

Both proclamations target low supplies of petroleum. In Wyoming, however, it also noted efforts to fight wildfires in the state as requiring additional supplies of petroleum. 

In both states, the waivers forbid requiring a fatigued driver to get behind the wheel. In the case of Iowa, at the end of the 30-day period, if a driver has been on duty for more than 70 hours during any eight consecutive days, that driver must be given at least 34 consecutive hours off.

<a href="https://www.freightwaves.com/news/author/johnkingston">More articles by John Kingston</a>

<a href="https://www.freightwaves.com/news/another-day-another-record-breaking-earnings-report-this-time-at-saia">Another day, another record breaking earnings report, this time at Saia</a>

<a href="https://www.freightwaves.com/news/ryder-beats-already-strong-q2-estimates-could-be-on-acquisition-hunt">Ryder beats already strong Q2 estimates, could be on acquisition hunt</a>

<a href="https://www.freightwaves.com/news/court-decision-serves-as-primer-on-pitfalls-possibilities-of-truck-leasing">Court decision serves as primer on pitfalls, possibilities of truck leasing</a>
Image by <a href="https://pixabay.com/users/fkevin-899026/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1499375">fkevin</a> from <a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1499375">Pixabay</a>

Government

Regulations

3 More States Waive Targeted Hours-Of-Service Rules For 30 Days

Four months after raising $1.2 billion, instant delivery application Gopuff announced it has closed on a Series H round for $1 billion, reaching a $15 billion valuation.

The round was led by new investor Blackstone's Horizons platform and its previous investor Fidelity Management and Research Co. Participants in the round included previous investors Softbank Vision Fund 1, Atreides Management and Eldridge Capital, and new investors Guggenheim Investments, Hedosophia, MSD Capital and Adage Capital.

"As Gopuff continues to define the Instant Needs economy, we are thrilled to have new leading global partners on board, along with the support of our longtime investors," said Rafael Ilishayev, co-founder and co-CEO of Gopuff. "This funding round is further validation of the success of our model and will enable us to continue to do what we do best: deliver an unmatched customer experience."

Funding details: <a href="https://gopuff.com/">Gopuff</a>

<table><tbody><tr><td>Funding amount</td>
			<td>$1 billion</td>
		</tr><tr><td>Funding round</td>
			<td>Series H</td>
		</tr><tr><td>Lead investors</td>
			<td>Blackstone's Horizons and Fidelity Management and Research Co.</td>
		</tr><tr><td>Secondary investors</td>
			<td>Softbank Vision Fund 1, Atreides Management, Eldridge Capital, Guggenheim Investments, Hedosophia, MSD Capital and Adage Capital</td>
		</tr><tr><td>Business goals for the round</td>
			<td>Expand into more North American markets and the United Kingdom</td>
		</tr><tr><td>Post valuation</td>
			<td>$15 billion</td>
		</tr><tr><td>Total funding</td>
			<td>$3.43 billion</td>
		</tr></tbody></table>

Much like its previous round, the company plans to use the funds to continue building microfulliflment ecosystems within North America and expand its footprint in the United Kingdom to offer customers 30-minute deliveries off various convenience store goods at a competitive $1.95 fee.

Just this week, Gopuff began offering its services in San Diego, bringing its total market exposure to 850 cities in the United States. In December, the company acquired the alcoholic beverage retailer BevMo!, including the delivery infrastructure at its more than 160 stores across California, Arizona and Washington.

<h4 id="h-related-article-it-s-time-the-logistics-industry-took-notice-of-gopuff">Related article: <a href="https://www.freightwaves.com/news/its-time-the-logistics-industry-took-notice-of-gopuff">It's time the logistics industry took notice of Gopuff</a></h4>

In order to scale its accelerating growth, the company has continued to strategically acquire companies.

In May, the company acquired the last-mile delivery platform Fancy to effectively expand its team into the United Kingdom and Europe, and is rumored to soon be acquiring London-based Dija, another grocery delivery startup, according to TechCrunch.

It also acquired San Francisco-based rideOS for $115 million in June to advance the company's routing technology for its on-demand fleet of delivery partners.

"rideOS is among the best mapping, dispatching and routing technology firms in the industry and we are thrilled to have them lead innovation in key sectors for Gopuff," said Sharad Sundaresan, Gopuff's senior vice president of product and growth. "This investment will enable Gopuff to continually improve the customer experience in more complex geographies as we continue to be a leader in the Instant Needs category worldwide."

Along with its recent acquisitions, the company introduced this month its newest experience, Gopuff Kitchen. Positioned next to its micro-fulfillment centers, these electric mobile kitchens prepare foods by their own recipes and in partnership with local brands. These ghost kitchens can be found in 20 of Gopuff's markets across the U.S.

As part of the venture, the delivery company acquired Austin-based Bandit Ventures Inc., an application-only coffee shop, earlier in July. The terms of that acquisition were not disclosed.

"Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category," said Scott Minerd, global chief investment officer of Guggenheim Investments. 

"[Co-founders] Rafael and Yakir [Gola] are focused on maintaining fiscal responsibility while having the ability to successfully execute on strategic growth opportunities. This measured approach along with Gopuff's impressive offering has only just scratched the surface. We are thrilled to support this incredibly strong company and look forward to being part of Gopuff's journey and continued expansion," said Minerd.

<div>
<div><a href="https://www.freightwaves.com/news/author/gracesharkey" style="border-width:2px;">Articles by Grace Sharkey</a></div>
</div>

<h4 id="h-you-may-also-like">You may also like:</h4>

<a href="https://www.freightwaves.com/news/advertising-platform-skai-reaches-deal-with-gopuff">Advertising platform Skai reaches deal with Gopuff</a>

<a href="https://www.freightwaves.com/news/uber-teams-with-arrival-on-evs-and-gopuff-for-everyday-essential-items">Uber teams with Arrival on EVs and Gopuff for everyday essential items</a>

<a href="https://www.freightwaves.com/news/digital-convenience-store-gopuff-raises-1-15b">Digital delivery company goPuff raises $1.15B</a>
Image by <a href="https://pixabay.com/users/skitterphoto-324082/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1214227">Rudy and Peter Skitterians</a> from <a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1214227">Pixabay</a>

Eurozone

Global

Startups

Tech

Instant Delivery Company Gopuff Reaches $15B Valuation

Huge profit gains in ocean shipping have become commonplace this year. But Ocean Network Express' year-over-year profit increase — 1,432% — is still attention-grabbing.   

For its fiscal 2021 first quarter, ONE recorded profit of $2.559 billion, a $2.39 billion gain from the $167 million posted in the same period last year. 

ONE's fiscal year runs from April 1 to March 31.

ONE said in its <a href="https://www.one-line.com/sites/g/files/lnzjqr776/files/2021-07/Disclosure%20FY2021%201Q_English%20V.9%20%28Clean%29.pdf">earnings report</a> Friday that "profit significantly increased" in large part because of the continuing strong market. The carrier included three bullet points: 

<ul><li>Global container trade volumes increased by about 20% year-over-year. Vessel utilization was at full capacity because of the strong cargo demand.</li>
	<li>Turmoil within the entire global supply chain continued during the quarter. "Severe shoreside and inland congestion was and is still ongoing."</li>
	<li>Long-term freight increased and short-term freight was significantly higher than expected.</li>
</ul>

ONE's first-quarter revenue jumped 111%, from $2.73 billion last year to $5.77 billion this year. Earnings before interest, taxes, depreciation and amortization leapt 499%, from $488 million last year to $2.92 billion this year. 

ONE said its operational costs did increase due to faster vessel speeds to improve schedule reliability. "Cost-saving initiatives progressed, but additional costs increased due to shoreside and inland congestion."

The Singapore-headquartered ocean carrier said strong cargo demand and labor shortages have resulted in longer port stays, port congestion, and heavy rail and truck traffic. Truck and chassis shortages were blamed for increased container dwell times. 

ONE said a resurgence of COVID-19 outbreaks has made a full-year forecast difficult, although it did say it expects first-half profit of about $6 billion at the close of its second quarter on Sept. 30. 

"The economic environment is now changing as the global situation of COVID-19 changes," ONE said. "It is therefore extremely difficult to make a performance forecast and as such, ONE's forecasts for FY2021 are yet to be finalized."

ONE does not include commentary from CEO Jeremy Nixon in its earnings release, but in a separate presentation on first-quarter initiatives, he was quoted as saying, "There are still risks ahead due to the overall low vaccination levels in many countries, which can lead to sudden changes in labor availability and operational conditions. The industry overall has deployed every spare vessel and container and the order book for new tonnage this year has sharply picked up for 2023-24 delivery.

"Ultimately demand and supply will come back into balance, but we remain conservative in trying to predict when this may or may not happen," Nixon said. 

German carrier Hapag-Lloyd is not so conservative. On Friday it raised its full-year forecast and expects 2021 EBITDA in the range of $9.2 billion to $11.2 billion. 

Full-year 2020 EBITDA was $3.08 billion, which Hapag-Lloyd CFO Mark Frese called a <a href="https://www.freightwaves.com/news/hapag-lloyd-profit-skyrockets-with-stellar-performance">"stellar performance."</a>

Hapag-Lloyd expects a first-half EBITDA of $4.2 billion, nearly $3 billion more than the same period in 2020 and nearly $1 billion more than last year's total. 

"Global demand for container transport remains at a high level. However, operational disruptions along the entire supply chain continue to cause significant delays and thereby contribute to the shortage of transport capacity," Friday's announcement said. "Hapag-Lloyd therefore expects earnings momentum to remain very strong in the second half of the financial year. Previously, a gradual normalization of the earnings trend had been expected for the second half" of 2021. 

<a href="https://www.freightwaves.com/news/one-has-second-quarter-of-significantly-increased-profit">ONE has second quarter of ‘significantly increased' profit</a>

<a href="https://www.freightwaves.com/news/hapag-lloyd-rakes-in-more-in-q1-than-all-of-2020">Hapag-Lloyd rakes in more in Q1 than all of 2020</a>

<a href="https://www.freightwaves.com/news/hapag-lloyd-profit-skyrockets-with-stellar-performance">Hapag-Lloyd profit skyrockets with ‘stellar performance'</a>

<a href="https://www.freightwaves.com/news/author/klinkwills">Click here for more American Shipper/FreightWaves stories by Senior Editor Kim Link-Wills.</a>

Image by <a href="https://pixabay.com/users/127071-127071/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=537724">Frauke Feind</a> from <a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=537724">Pixabay</a>

ONE Giant Leap — 1,432% Profit Gain

Marin Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRIN#NASDAQ">MRIN</a>) reported quarterly losses of $(0.23) per share. This is a 36.11 percent increase over losses of $(0.36) per share from the same period last year. The company reported $6.09 million in sales this quarter. This is a 16.23 percent decrease over sales of $7.28 million the same period last year.

Marin Software Q2 EPS $(0.23) Up From $(0.36) YoY, Sales $6.09M Down From $7.28M YoY

ACET

Adicet Bio In 8K Filing Says Delivered Written Notice To Novartis To Terminate Certain License Agreement, Effective On Or Before Oct. 1, 2021; Says Co. Is Not Subject To Any Termination Penalties Related To Termination Of License Agreement

Offerings

PROG

Progenity Files For Mixed Shelf Of Up To $200M

Stocks Trading Near 52-Week Highs Just After Open On Tuesday, Nov. 17, 2020: CAPA, FSRVU, TRTN, ATRA, BEEMW, COOP, NBACU, STKL, KLAC, DLB, PCGU, GNTX, CSV, CCCC, DAC, BHVN, DTP, ACHC, GM, QCOM, FOLD, SNX, GRWG, CHI, CHY, UPWK

&nbsp;

<h3>Gainers</h3>

<ul>
	<li>Apex Technology (NASDAQ:<a class="ticker" href="/stock/APXT#NASDAQ">APXT</a>) stock increased by 29.02% to $14.18 during Friday&#39;s regular session. Trading volume for this security as of 12:32 EST is 34.4 million, which is 6006.82% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $631.8 million.</li>
	<li>RMG Acquisition (NYSE:<a class="ticker" href="/stock/RMG#NYSE">RMG</a>) shares increased by 19.94% to $16.9. Trading volume for this security as of 12:32 EST is 9.9 million, which is 1063.09% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $485.8 million.</li>
	<li>Stable Road Acquisition (NASDAQ:<a class="ticker" href="/stock/SRACU#NASDAQ">SRACU</a>) stock rose 16.19% to $14.49. Trading volume for this security as of 12:32 EST is 21.1K, which is 191.2% of its average full-day volume over the last 100 days.</li>
	<li>X Financial (NYSE:<a class="ticker" href="/stock/XYF#NYSE">XYF</a>) shares increased by 15.25% to $2.72. X Financial&#39;s stock is trading at a volume of 162.1K shares as of 12:32 EST. This is 97.83% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $145.5 million.</li>
	<li>Stable Road Acquisition (NASDAQ:<a class="ticker" href="/stock/SRAC#NASDAQ">SRAC</a>) stock increased by 14.24% to $13.55. The current volume of 3.2 million shares is 533.63% of Stable Road Acquisition&#39;s average full-day volume over the last 100 days (last updated at 12:32 EST). The market value of their outstanding shares is at $299.5 million.</li>
</ul>

&nbsp;

&nbsp;

<h3>Losers</h3>

&nbsp;

<ul>
	<li>Newborn Acquisition (NASDAQ:<a class="ticker" href="/stock/NBAC#NASDAQ">NBAC</a>) stock decreased by 23.44% to $17.05 during Friday&#39;s regular session. The current volume of 5.4 million shares is 996.02% of Newborn Acquisition&#39;s average full-day volume over the last 100 days (last updated at 12:32 EST). The market value of their outstanding shares is at $127.1 million.</li>
	<li>Mercurity Fintech Holding (NASDAQ:<a class="ticker" href="/stock/MFH#NASDAQ">MFH</a>) shares decreased by 15.55% to $2.5. The current volume of 302.3K shares is 75.37% of Mercurity Fintech Holding&#39;s average full-day volume over the last 100 days (last updated at 12:32 EST). The market value of their outstanding shares is at $20.5 million. The company&#39;s, Q3 earnings came out today.</li>
	<li>Marathon Patent Group (NASDAQ:<a class="ticker" href="/stock/MARA#NASDAQ">MARA</a>) shares decreased by 15.36% to $4.33. As of 12:32 EST, this security is trading at a volume of 16.7 million shares, making up 137.42% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $228.1 million.</li>
	<li>SWK Holdings (NASDAQ:<a class="ticker" href="/stock/SWKH#NASDAQ">SWKH</a>) stock declined by 11.06% to $13.03. SWK Holdings&#39;s stock is trading at a volume of 19.0K shares as of 12:32 EST. This is 140.83% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $166.6 million.</li>
	<li>Vesper Healthcare (NASDAQ:<a class="ticker" href="/stock/VSPR#NASDAQ">VSPR</a>) stock fell 10.85% to $10.15.</li>
</ul>

&nbsp;

&nbsp;

Intraday Update

10 Financial Services Stocks Moving In Friday's Intraday Session

&nbsp;

<h3>Gainers</h3>

<ul>
	<li>Marathon Patent Group (NASDAQ:<a class="ticker" href="/stock/MARA#NASDAQ">MARA</a>) shares rose 32.47% to $5.67. Trading volume for Marathon Patent Group&#39;s stock is 41.4 million as of 12:31 EST. This is 334.06% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $298.4 million.</li>
	<li>Elmira Savings Bank (NASDAQ:<a class="ticker" href="/stock/ESBK#NASDAQ">ESBK</a>) stock increased by 14.95% to $13.25. Trading volume for this security as of 12:31 EST is 1.2K, which is 42.51% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $46.5 million.</li>
	<li>Gores Metropoulos (NASDAQ:<a class="ticker" href="/stock/GMHI#NASDAQ">GMHI</a>) shares rose 14.63% to $17.64. Trading volume for Gores Metropoulos&#39;s stock is 7.5 million as of 12:31 EST. This is 416.01% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $882.1 million.</li>
	<li>AMCI Acquisition (NASDAQ:<a class="ticker" href="/stock/AMCI#NASDAQ">AMCI</a>) shares rose 12.76% to $12.99. As of 12:31 EST, this security is trading at a volume of 6.6 million shares, making up 3329.61% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $189.3 million.</li>
	<li>AMCI Acquisition (NASDAQ:<a class="ticker" href="/stock/AMCIU#NASDAQ">AMCIU</a>) stock rose 12.5% to $13.82. The current volume of 521 shares is 74.96% of AMCI Acquisition&#39;s average full-day volume over the last 100 days (last updated at 12:31 EST).</li>
</ul>

&nbsp;

&nbsp;

<h3>Losers</h3>

&nbsp;

<ul>
	<li>Weidai (NYSE:<a class="ticker" href="/stock/WEI#NYSE">WEI</a>) shares decreased by 11.97% to $1.66. Trading volume for this security as of 12:31 EST is 2.1 million, which is 41.37% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $116.6 million.</li>
	<li>Senmiao Technology (NASDAQ:<a class="ticker" href="/stock/AIHS#NASDAQ">AIHS</a>) stock decreased by 11.93% to $1.33. As of 12:31 EST, Senmiao Technology&#39;s stock is trading at a volume of 1.4 million, which is 22.79% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $58.1 million.</li>
	<li>Noah Holdings (NYSE:<a class="ticker" href="/stock/NOAH#NYSE">NOAH</a>) stock decreased by 11.18% to $29.88. As of 12:31 EST, Noah Holdings&#39;s stock is trading at a volume of 135.0K, which is 70.13% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $1.8 billion. As per the press release, Q3 earnings came out today.</li>
	<li>China Finance Online Co (NASDAQ:<a class="ticker" href="/stock/JRJC#NASDAQ">JRJC</a>) shares fell 9.27% to $9.6. Trading volume for China Finance Online Co&#39;s stock is 35.4K as of 12:31 EST. This is 67.24% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $23.4 million.</li>
	<li>Investors Title (NASDAQ:<a class="ticker" href="/stock/ITIC#NASDAQ">ITIC</a>) shares fell 8.61% to $173.55. Trading volume for Investors Title&#39;s stock is 8.5K as of 12:31 EST. This is 104.35% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $328.4 million.</li>
</ul>

&nbsp;

&nbsp;

10 Financial Services Stocks Moving In Monday's Intraday Session

&nbsp;

<h3>Gainers</h3>

<ul>
	<li>Ambac Financial Group (NYSE:<a class="ticker" href="/stock/AMBC#NYSE">AMBC</a>) stock moved upwards by 15.74% to $16.95. Trading volume for Ambac Financial Group&#39;s stock is 750.6K as of 12:31 EST. This is 217.16% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $776.2 million.</li>
	<li>Opes Acquisition (NASDAQ:<a class="ticker" href="/stock/OPES#NASDAQ">OPES</a>) shares moved upwards by 11.4% to $13.93. Trading volume for Opes Acquisition&#39;s stock is 424.2K as of 12:31 EST. This is 206.79% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $109.4 million.</li>
	<li>Lloyds Banking Group (NYSE:<a class="ticker" href="/stock/LYG#NYSE">LYG</a>) stock moved upwards by 9.28% to $2.0. Lloyds Banking Group&#39;s stock is trading at a volume of 5.1 million shares as of 12:31 EST. This is 79.09% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $35.4 billion.</li>
	<li>MBIA (NYSE:<a class="ticker" href="/stock/MBI#NYSE">MBI</a>) stock rose 9.1% to $6.95. Trading volume for MBIA&#39;s stock is 417.3K as of 12:31 EST. This is 64.66% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $374.8 million.</li>
	<li>Banco Santander (NYSE:<a class="ticker" href="/stock/BSBR#NYSE">BSBR</a>) shares moved upwards by 8.85% to $7.92. As of 12:31 EST, this security is trading at a volume of 815.3K shares, making up 74.69% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $59.1 billion.</li>
</ul>

&nbsp;

&nbsp;

<h3>Losers</h3>

&nbsp;

<ul>
	<li>Apex Technology (NASDAQ:<a class="ticker" href="/stock/APXTU#NASDAQ">APXTU</a>) shares decreased by 10.71% to $15.85. Trading volume for Apex Technology&#39;s stock is 21.6K as of 12:31 EST. This is 178.09% of its average full-day volume over the last 100 days.</li>
	<li>Switchback Energy (NYSE:<a class="ticker" href="/stock/SBE#NYSE">SBE</a>) stock fell 10.42% to $30.11. Switchback Energy&#39;s stock is trading at a volume of 7.5 million shares as of 12:31 EST. This is 189.06% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $1.1 billion.</li>
	<li>RMG Acquisition (NYSE:<a class="ticker" href="/stock/RMG#NYSE">RMG</a>) stock decreased by 10.09% to $15.96. The current volume of 2.9 million shares is 234.45% of RMG Acquisition&#39;s average full-day volume over the last 100 days (last updated at 12:31 EST). The market value of their outstanding shares is at $458.8 million.</li>
	<li>GigCapital3 (NYSE:<a class="ticker" href="/stock/GIK#NYSE">GIK</a>) shares declined by 8.59% to $12.05. GigCapital3&#39;s stock is trading at a volume of 1.2 million shares as of 12:31 EST. This is 505.31% of its average full-day volume over the last 100 days.</li>
</ul>

&nbsp;

&nbsp;

9 Financial Services Stocks Moving In Tuesday's Intraday Session

&nbsp;

<h3>Gainers</h3>

<ul>
	<li>Waddell &amp; Reed Financial (NYSE:<a class="ticker" href="/stock/WDR#NYSE">WDR</a>) shares increased by 49.47% to $25.43 during Thursday&#39;s regular session. Trading volume for Waddell &amp; Reed Financial&#39;s stock is 23.3 million as of 12:32 EST. This is 2450.09% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $1.5 billion.</li>
	<li>Newborn Acquisition (NASDAQ:<a class="ticker" href="/stock/NBACU#NASDAQ">NBACU</a>) stock rose 18.75% to $19.0. Newborn Acquisition&#39;s stock is trading at a volume of 1.7K shares as of 12:32 EST. This is 19.57% of its average full-day volume over the last 100 days.</li>
	<li>Hennessy Cap Acquisition (NASDAQ:<a class="ticker" href="/stock/HCACU#NASDAQ">HCACU</a>) stock increased by 16.09% to $15.01. Trading volume for this security as of 12:32 EST is 1.3K, which is 8.57% of its average full-day volume over the last 100 days.</li>
	<li>WisdomTree Inv (NASDAQ:<a class="ticker" href="/stock/WETF#NASDAQ">WETF</a>) shares increased by 14.62% to $5.13. As of 12:32 EST, WisdomTree Inv&#39;s stock is trading at a volume of 1.4 million, which is 158.97% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $763.9 million.</li>
	<li>JMP Group (NYSE:<a class="ticker" href="/stock/JMP#NYSE">JMP</a>) shares moved upwards by 11.07% to $3.71. The current volume of 49.6K shares is 372.03% of JMP Group&#39;s average full-day volume over the last 100 days (last updated at 12:32 EST). The market value of their outstanding shares is at $72.9 million.</li>
	<li>Landcadia Holdings II (NASDAQ:<a class="ticker" href="/stock/LCA#NASDAQ">LCA</a>) shares moved upwards by 10.37% to $19.97. Trading volume for this security as of 12:32 EST is 3.3 million, which is 139.01% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $789.3 million.</li>
</ul>

&nbsp;

&nbsp;

<h3>Losers</h3>

&nbsp;

<ul>
	<li>AMCI Acquisition (NASDAQ:<a class="ticker" href="/stock/AMCIU#NASDAQ">AMCIU</a>) shares decreased by 12.52% to $13.0 during Thursday&#39;s regular session. As of 12:32 EST, this security is trading at a volume of 200 shares, making up 29.24% of its average full-day volume over the last 100 days.</li>
	<li>X Financial (NYSE:<a class="ticker" href="/stock/XYF#NYSE">XYF</a>) stock declined by 8.51% to $2.26. As of 12:32 EST, this security is trading at a volume of 20.6K shares, making up 11.74% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $120.9 million. The company&#39;s, Q3 earnings came out 2 days ago.</li>
	<li>Harvest Capital Credit (NASDAQ:<a class="ticker" href="/stock/HCAP#NASDAQ">HCAP</a>) stock declined by 7.62% to $5.58. As of 12:32 EST, this security is trading at a volume of 71.6K shares, making up 240.99% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $33.2 million.</li>
	<li>Dragon Victory (NASDAQ:<a class="ticker" href="/stock/LYL#NASDAQ">LYL</a>) shares fell 6.58% to $3.46. Trading volume for this security as of 12:32 EST is 37.8K, which is 2.47% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $39.4 million.</li>
	<li>Rhinebeck Bancorp (NASDAQ:<a class="ticker" href="/stock/RBKB#NASDAQ">RBKB</a>) shares fell 6.47% to $8.2. The current volume of 129 shares is 1.87% of Rhinebeck Bancorp&#39;s average full-day volume over the last 100 days (last updated at 12:32 EST). The market value of their outstanding shares is at $91.2 million.</li>
	<li>Conifer Holdings (NASDAQ:<a class="ticker" href="/stock/CNFR#NASDAQ">CNFR</a>) shares declined by 6.23% to $2.34. Trading volume for this security as of 12:32 EST is 3.8K, which is 110.17% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $22.6 million.</li>
</ul>

&nbsp;

&nbsp;

Recent Quotes

Related Companies