Streetbeat News

Assets

AMD

NVDA

Advanced Micro Devices Inc. (AMD) faces challenges in exporting a China-specific AI chip due to U.S. Department of Commerce restrictions. Despite designing the chip to comply with U.S. export regulations by lowering its performance, officials deemed it too powerful, requiring a license for sale. This is part of broader U.S. efforts to limit China's access to advanced semiconductors, affecting companies like AMD and Nvidia Corporation (NVDA). Meanwhile, Chinese firms like SMIC are advancing in chip development, and Nvidia aims to dominate the Chinese market despite restrictions.

Portfolio Pulse from Ananya Gairola

March 05, 2024 | 2:51 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin approaches its all-time high, nearing $69K, with Ethereum and Dogecoin also experiencing significant gains. The surge in Bitcoin's market cap to $1.33 trillion is attributed to inflows into spot BTC ETFs, the upcoming halving event, and increased investor interest. The global cryptocurrency market cap now stands at $2.53 trillion. Meanwhile, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average saw declines. Analysts predict Bitcoin could hit $125K by 2025, driven by conservative capital allocations from BlackRock and Fidelity clients.

Portfolio Pulse from Mehab Qureshi

March 05, 2024 | 2:43 am

AMZN

TSLA

Jeff Bezos, founder of Amazon Inc., has reclaimed the title of the world's richest person with a net worth of $200 billion, surpassing Tesla Inc.'s CEO Elon Musk, whose wealth is $198 billion. Bezos's wealth increased by $23 billion over the past year, while Musk's decreased by $31 billion, partly due to a more than 7% drop in Tesla's share prices on Monday. The fluctuation in the wealthiest person's title is influenced by market performances, with Bezos and Musk being key figures in the tech and space industries.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 2:23 am

BHP

CLF

GSM

NEM

Ferroglobe PLC (GSM) and LONGi have entered a silicon supply agreement effective Jan. 1, 2024. MP Materials Corp. (MP) plans a $500 million Convertible Senior Notes offering. Cleveland-Cliffs Inc. (CLF) announced a $750 million senior unsecured guaranteed notes offering. BHP Group Limited (BHP) signed non-binding agreements for potash production at its Jansen mine. Newmont Corporation (NEM) initiated a private offering of notes due in 2026 and 2034 to repay borrowings.

Portfolio Pulse from Austin DeNoce

March 04, 2024 | 10:53 pm

LNT

Alliant Energy, through its subsidiary, has announced the pricing of its public offering of $300 million worth of 5.375% debentures. This move is part of the company's financial strategy to raise capital.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 10:52 pm

BTG

Despite recent attacks on its employees in Mali, including a fatal convoy attack in February that resulted in four deaths, B2Gold Corp. (NYSEAMERICAN: BTG) remains committed to exploration in the country. The company has budgeted $10 million for exploration in Mali this year, focusing on the Fekola Mine, its largest gold-producing mine. Mali's challenging security situation, marked by political and jihadist violence, has not deterred B2Gold's operations, even as the country's military-led government reviews its mining code to potentially increase Malian stakes in new projects.

Portfolio Pulse from Matt Whittaker

March 04, 2024 | 10:33 pm

NEM

Newmont Corporation has announced the pricing of its notes, which will be used to repay outstanding borrowings under its revolving credit facility. This financial maneuver is aimed at optimizing the company's debt structure and potentially reducing interest expenses.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 10:33 pm

CDE

GDX

GLD

HMY

SGDJ

Gold prices, as tracked by the SPDR Gold Trust (GLD), have risen above $2,110 per troy ounce, nearing a record high and driving a surge in mining stocks. This increase marks the fourth consecutive session of gains, bringing gold within 1.4% of its all-time high. Despite rising Treasury yields, gold's strength persists amid unchanged market expectations for Federal Reserve rate cuts. The World Gold Council cites geopolitical uncertainty as a key driver for gold demand. Mining stocks, particularly those in the VanEck Gold Miners ETF (GDX) and Sprott Junior Gold Miners ETF (SGDJ), have seen significant gains, with GDX up 4.4% and SGDJ up 5.3%. Top-performing mining stocks include Harmony Gold Mining (HMY), Coeur Mining (CDE), and AngloGold Ashanti (AU), among others.

Portfolio Pulse from Piero Cingari

March 04, 2024 | 10:28 pm

DOGEUSD

SHIBUSD

Shiba Inu (SHIB) has surged 50.3%, entering the top 10 most valuable cryptocurrencies with a market cap of $19.6 billion, nearing Dogecoin's (DOGE) $25 billion. SHIB's trading volume surpassed DOGE's, indicating strong investor sentiment and potential for further rally. Whale movements and a significant holding time of two years suggest a growing confidence in SHIB. The meme coin's visibility is also rising, with notable mentions on Binance and movements involving large SHIB token transfers.

Portfolio Pulse from Khyathi Dalal

March 04, 2024 | 10:02 pm

ALB

Albemarle Corp (NYSE:ALB) announced a $1.75 billion offering of depositary shares, intending to use the proceeds for general corporate purposes, including expansion of lithium operations and repaying commercial paper. The news led to a 9.38% drop in ALB shares after hours.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 9:50 pm