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DOGEUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) experienced a significant surge, with its market cap reaching $26.71 billion, surpassing tech giants like Zoom, Snap, eBay, and MicroStrategy. This rise positions SHIB near Dogecoin (CRYPTO: DOGE) in market cap. The surge is attributed to speculative buying, particularly from Asia, and an increase in retail investors and leveraged buying. SHIB's perpetual futures interest also hit a record high.

Portfolio Pulse from Mehab Qureshi

March 05, 2024 | 11:20 am

MP Materials Corp. (NYSE:MP) announced a private offering of $650 million 3.00% Convertible Senior Notes due 2030, upsized from $500 million. The offering includes an option for initial purchasers to buy an additional $97.5 million in notes, with a closing date expected on March 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:18 am

APGE

Apogee Therapeutics reported a Q4 2023 net loss of $(31.7)M, widening from $(14)M YoY. The company ended the year with $395.5M in cash, projecting a cash runway into 4Q 2026.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:12 am

SPMYY

VIAV

VIAVI Solutions (NASDAQ:VIAV) has announced the acquisition of Spirent Communications (OTC:SPMYY) for approximately $1.3 billion in cash. The deal, expected to close in the second half of 2024, aims to combine VIAVI's communications test and measurement technologies with Spirent's testing and assurance solutions, targeting synergies of $75M. The acquisition will be funded through existing cash, a $800 million term loan, and a $400 million investment from Silver Lake, leading to Ken Hao joining the VIAVI board.

Portfolio Pulse from Lekha Gupta

March 05, 2024 | 11:10 am

ARKW

NVDA

TSM

Cathie Wood's Ark Invest has been selling Nvidia (NVDA) shares due to valuation concerns but purchased $4M in Taiwan Semiconductor Manufacturing Company (TSM) shares, a key Nvidia supplier. The purchase by ARK Next Generation Internet ETF (ARKW) reflects confidence in TSM's growth prospects, despite a recent slight premarket trading dip.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 10:43 am

AROW

BHLB

Arrow Financial Corporation (NASDAQ:AROW) has acquired a Berkshire Bank branch in Whitehall, New York, from Berkshire Hills Bancorp, Inc. (NYSE:BHLB). The acquisition is part of a deal where Berkshire Bank is selling 10 of its branches in upstate and eastern New York. This sale reduces Berkshire Hills' branch footprint from 96 to 86 locations. All employees of the Whitehall branch will be offered positions within the Arrow Family of Companies, with the sale expected to complete by the end of Q3 2024. Following the sale, Glens Falls National Bank, a subsidiary of Arrow Financial, will operate nine branches in Washington County.

Portfolio Pulse from Nabaparna Bhattacharya

March 05, 2024 | 10:41 am

BTCUSD

HAIUSD

Hacken (CRYPTO: HAI), a blockchain security-focused token, experienced a 50% rally in a week, attributed to its new initiative in Real-World Asset (RWA) tokenization. The company announced that HAI token holders could now convert their utility tokens to equity tokens, offering a direct equity stake in Hacken Enterprise. This move coincides with a broader market optimism and a rally in Bitcoin's (CRYPTO: BTC) price. Hacken's approach to tokenization, which allows for the digitization of various assets on the blockchain, aligns with the industry's growing interest in this technology, as highlighted by BlackRock CEO Larry Fink.

Portfolio Pulse from Mehab Qureshi

March 05, 2024 | 10:16 am

VGK

The HCOB Eurozone Composite Purchasing Managers Index (PMI) for February increased to 49.2, surpassing the estimated 48.9 and the previous month's 47.9. This indicates a slight improvement in the Eurozone's economic activity.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 9:34 am

BTCUSD

SHIBUSD

SMCI

In 2023, Bitcoin and Shiba Inu saw significant returns, with Bitcoin gaining over 155% and SHIB 260%. Super Micro Computer (SMCI) outperformed both, with a 278% return, attributed to its S&P 500 inclusion. The crypto market's recovery was driven by regulatory approvals and anticipation of a spot Bitcoin ETF, while AI stocks like SMCI benefited from the broader risk-on sentiment.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 8:09 am

BTCUSD

ETHUSD

A CryptoPunk NFT, #3100, sold for $16M in Ethereum, marking a significant sale amid a resurgence in the NFT market and growing crypto risk appetite. This sale coincides with Bitcoin nearing its all-time high, driven by ETF demand and the upcoming halving event.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 7:31 am