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NYCB

This week, Jerome Powell's dovish stance before Congress, weaker job reports, all-time highs for Bitcoin and gold, rising gas and oil prices due to production cuts, and the investor bailout of New York Community Bank ($NYCB) were highlighted. Powell's willingness to lower rates before inflation hits 2% mirrors past mistakes, while job data suggests a weaker economy than reported. Bitcoin and gold reaching all-time highs indicate a search for stability amidst market volatility. Saudi Arabia and Russia's production cuts have pushed oil prices over $80. The $1 billion investment led by Steve Mnuchin in NYCB reflects ongoing concerns about the banking sector's stability.

Portfolio Pulse from Gary Brode

March 13, 2024 | 1:12 pm

NVDA

TSLA

Wedbush's Dan Ives remains optimistic about Tesla Inc. (TSLA), citing AI and Full Self-Driving (FSD) advancements as key drivers that could elevate the company's market cap over $1 trillion. Despite a challenging first quarter, projections suggest Tesla could reach 2.1 million units by 2024. Ives emphasizes the compelling risk/reward at current levels, with AI and FSD making significant strides. Additionally, Tesla's Dojo supercomputer project, utilizing Nvidia Corp.'s (NVDA) GPUs, supports FSD development. Amidst compensation and voting control concerns by Elon Musk, Wedbush maintains a $315 price target for Tesla, advising the board to implement measures to support Musk's leadership and address the stock's challenges.

Portfolio Pulse from Rounak Jain

March 13, 2024 | 12:49 pm

PGY

Pagaya Technologies LTD. (NASDAQ:PGY), a global technology company specializing in AI-driven financial solutions, announced the closing of two new asset-backed securitizations (ABS), RPM 2024-1 and PAID 2024-3, marking its 50th and 51st ABS deals. These deals raised over $1 billion, with $792 million from consumer loans and $238 million from auto loans. This achievement follows Pagaya's successful raise of $6.6 billion across all ABS transactions in 2023, maintaining its position as the leading personal loan ABS issuer in the U.S. The company has now raised nearly $2 billion year-to-date across four ABS transactions, with a total of $21 billion raised since inception. Pagaya's growth is supported by over 110 funding partners and recent partnerships with U.S. Bank and Exeter Finance.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:37 pm

SOYB

Traders have significantly increased their bearish stance on CBOT soybean futures and options, reaching a record net short position amid growing global stockpiles and shifting demand from China. China's reduced imports have pressured prices, but a recent USDA report forecasting increased Chinese imports next year has sparked a cautious optimism among investors. The Teucrium Soybean ETF (SOYB) offers a way for investors to gain exposure to soybean prices.

Portfolio Pulse from Johnny Rice

March 13, 2024 | 12:33 pm

STWD

Starwood Property Trust, Inc. (STWD) announced a private offering of $400 million in unsecured senior notes due 2029 to finance green and/or social projects. The proceeds may also be used for general corporate purposes, including debt repayment. The offering targets qualified institutional buyers and non-U.S. persons, with the notes not initially registered under U.S. securities laws.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:21 pm

CLNN

Clene Inc. reported that its cash, cash equivalents, and marketable securities totaling $35M as of December 31, 2023, are expected to fund its operations into Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:11 pm

AER

AerCap Holdings N.V. (AER) has delivered the first of four Airbus A330neo aircraft to Corsair, with the remaining three scheduled for delivery through 2024. This delivery marks the beginning of the final phase of Corsair's fleet renewal plan, aiming to modernize and enhance sustainability by reducing emissions and improving operational efficiency. By the end of 2024, Corsair plans to operate all routes with A330neo aircraft, making its fleet one of the youngest and most environmentally friendly in the world.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 12:11 pm

AADI

Aadi Bioscience announced that its cash, cash equivalents, and short-term investments as of December 31, 2023, are expected to fund its operations into the fourth quarter of 2025, based on its current plans.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:04 pm

AGRX

Agile Therapeutics has fully repaid its debt facility with Perceptive Advisors, focusing on expanding Twirla and advancing its business plan.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:42 am

INDP

Indaptus Therapeutics reported a FY EPS of $(1.83), surpassing the $(1.95) estimate. Despite a 5.78% increase in losses from the previous year, its $13.4M cash balance is expected to sustain operations through Q3 of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:39 am