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BYDDY

HMC

NSANY

Nissan Motor Co Ltd (OTC:NSANY) and Honda Motor Co Ltd (NYSE:HMC) are considering production cuts in China due to increased competition from electric vehicle manufacturers like BYD Company (OTC:BYDDY). Nissan plans a 30% reduction, about 500,000 cars, and Honda looks at a 20% cut, around 1.2 million vehicles. This decision comes as both companies face declining sales in China, with Nissan's sales dropping 16.1% and Honda's by 10% last year. Nissan is also planning to restructure its production with local partners to focus on exports.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 6:04 pm

VRT

Investors have shown a mixed sentiment towards Vertiv Hldgs (NYSE:VRT), with options trading indicating both bullish and bearish positions. The trading activity includes 30 unusual options trades, with a split sentiment of 50% bullish and 50% bearish. The focus is on a price band between $37.5 and $100.0. The current market status of VRT shows a 3.16% increase in stock price to $69.12, with an RSI suggesting it may be approaching overbought territory. Analyst ratings vary, with a consensus target price of $65.33.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

WING

$100 invested in iShares Fallen Angels High Yield Corp Bond UCITS ETF USD (Dist) (NASDAQ:WING) 5 years ago would now be worth $501.42, showcasing an annualized return of 37.03% and outperforming the market by 24.23%. The ETF currently has a market cap of $9.81 billion.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

ARES

Ares Management (NYSE:ARES) has significantly outperformed the market in the last 5 years, with an annualized return of 41.03%, turning a $1000 investment into $5,580.96. The company's market capitalization stands at $25.64 billion.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

ETH-USD

On Monday, 14,216.86 Ether (ETH) worth approximately $56M was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -18.30% yesterday.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

PKG

Packaging Corp of America (NYSE:PKG) has seen a 19.02% increase in short interest, now at 1.85 million shares or 2.44% of float. This indicates a bearish market sentiment, though it's below the peer group average of 5.60%. The rise in short interest doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 5:45 pm

KR

Kroger's (NYSE:KR) short interest has increased by 27.47% since the last report, with 22.00 million shares sold short, representing 3.48% of its float. It would take about 4.45 days to cover all short positions. This rise in short interest could indicate a more bearish market sentiment towards Kroger, although it has less short interest compared to its peer group average of 3.85%.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 5:45 pm

PFGC

Performance Food Group's (NYSE:PFGC) short interest has decreased by 6.21% since the last report, with 1.82 million shares sold short, representing 1.51% of its float. The current short interest suggests a bullish sentiment as it is lower than the peer group average of 5.16%. The decrease in short interest indicates fewer traders are betting against the stock, which could be a positive sign for its short-term performance.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 5:45 pm

COIN

HUT

MARA

MSTR

TSLA

A new report reveals that institutional investors, including publicly traded companies, private firms, countries, and ETFs, hold over 11% of all Bitcoin, with MicroStrategy, Marathon Digital Holdings, Tesla, Hut 8 Corp, and Coinbase Global being major corporate holders. This trend underscores Bitcoin's growing acceptance as an asset class among established corporations, potentially leading to wider adoption and price stability. Bitcoin ETFs also emerge as a significant avenue for investment, holding 4.655% of the total Bitcoin supply.

Portfolio Pulse from Murtuza Merchant

March 12, 2024 | 5:43 pm

SPY

UNG

The U.S. Energy Information Administration (EIA) has increased its forecast for the average retail gasoline price in 2024 by $0.20, now expecting it to be $3.50 per gallon, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:42 pm