Streetbeat News

Assets

COMM

CommScope announced plans to expand its U.S.-based manufacturing capabilities for fiber connectivity products, aiming to meet the demand from BEAD-funded projects starting in the summer of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:05 pm

NEM

Newmont's (NYSE:NEM) short interest has decreased by 5.59%, with 17.96 million shares sold short, representing 1.69% of its float. This decrease in short interest could indicate a more bullish sentiment towards NEM. Compared to its peers, NEM has a lower short interest percentage of float (1.69% vs. peer average of 3.18%).

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 1:00 pm

HLT

Hilton Worldwide Holdings (NYSE:HLT) has seen a 10.68% increase in short interest, now at 2.82 million shares or 1.14% of float. It takes traders 1.66 days to cover short positions. Despite the rise, HLT's short interest is below its peer group average of 5.71%. An increase in short interest can indicate bearish sentiment but can also be bullish under certain conditions.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 1:00 pm

BYON

Beyond, Inc. (BYON) has acquired the intellectual property and other brand assets of Zulily, including its website, domain names, trademarks, customer database, and software for $4.5 million plus acquisition-related costs, excluding liabilities. The purchase was funded with cash on hand.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:37 pm

GLD

SPY

U.S. markets closed higher, influenced by economic data and Federal Reserve Chair Jerome Powell's comments, hinting at a potential interest rate cut. Asian and European markets showed mixed results, with gold reaching a new high due to lower U.S. interest rate expectations. Economic indicators included U.S. job growth and trade surplus figures, alongside commodity and forex market movements.

Portfolio Pulse from Akanksha Bakshi

March 07, 2024 | 12:29 pm

URI

United Rentals announced that its subsidiary, United Rentals (North America), Inc., is conducting a private offering of $1.1 billion in senior notes due 2034. This move indicates the company's strategy to raise capital, potentially for expansion, debt refinancing, or other corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:25 pm

BITF

Bitfarms announced its 2024 plan aiming to triple its hashrate to 21 EH/s, increase its operating capacity by at least 63% to 391 MW, and enhance its fleet efficiency by 34% to 23 w/TH.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:21 pm

BITF

Bitfarms announced its earnings of 1,236 BTC in Q4 2023 and a total of 4,928 BTC for the entire year of 2023. This showcases the company's operational success and growth in the cryptocurrency mining sector.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:19 pm

BTCUSD

The 'Kimchi premium' phenomenon, indicating a higher price of Bitcoin in South Korea compared to global markets, has resurfaced, offering arbitrage opportunities despite challenges due to strict financial regulations. This resurgence is attributed to high local demand and retail investor participation, amid Bitcoin reaching new all-time highs and the active South Korean cryptocurrency market.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 12:11 pm

BJ

BJ's Wholesale Club projects its FY24 adjusted EPS to be between $3.75 and $4.00, slightly below the $3.98 estimate. The company expects comparable club sales, excluding gasoline, to grow 1% to 2% year-over-year, and merchandise gross margins to improve by about 20 basis points. Capital expenditures are anticipated to be around $500 million.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 11:49 am