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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

BHLB

Berkshire Hills Bancorp (BHLB) has announced the sale of 10 of its branches located in upstate and eastern regions to three different buyers. The deal includes approximately $485.5 million in deposits and $60.5 million in related mortgage and consumer loans, along with all branch premises and equipment.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:46 pm

BTCUSD

ETHUSD

Bitcoin (BTC) surpassed $67,000, reaching a level not seen since 2021, amid a six-month rally. Jim Cramer attributes the surge not to the recently approved spot Bitcoin ETFs or the anticipated April halving event, but to a growing distrust in fiat currencies. Cramer suggests Bitcoin is seen as a hedge against the devaluation of fiat currencies, especially with the U.S. dollar's purchasing power decline since leaving the gold standard. The rise in U.S. national debt, now increasing by $1 trillion every 100 days, is also linked to Bitcoin's appeal. Cramer, who has been cautious about crypto, hinted at a potential Ethereum ETF sparking another rally.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 9:44 pm

KOS

Kosmos Energy's stock is trading lower following the announcement of a $300 million offering of convertible senior notes due 2030.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:41 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) announced a private offering of $600 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $90 million. The proceeds are intended for acquiring more Bitcoin and general corporate purposes. This follows the company's ongoing investment in Bitcoin, having acquired 193,000 Bitcoins since 2020. The stock was down 4.42% in after-hours trading following the announcement.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 9:35 pm

BODI

Beachbody Company sold its Van Nuys production facility, which had a net carrying value of $4.8M as of December 31, 2023, for $6.2M. Concurrently, it entered into a five-year lease for the same facility, with options to extend the lease twice for three years each.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:27 pm

KOS

Kosmos Energy Ltd. (KOS) plans to offer $300 million of convertible senior notes due 2030 in a private placement, with an option for initial purchasers to buy an additional $45 million. The notes will be senior, unsecured obligations, ranking pari passu with existing senior notes and the revolving credit facility, and guaranteed by certain subsidiaries. The company will use proceeds to repay part of its commercial debt, pay for capped call transactions, and cover offering-related fees and expenses.

Portfolio Pulse from Happy Mohamed

March 04, 2024 | 9:18 pm

MSTR

MicroStrategy announced a proposed private offering of $600 million of convertible senior notes, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:06 pm