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ETHUSD

Ethereum (ETH) surged to $3,200, marking its first reach to this level since April 2022, with a 3.6% increase on the day. The upcoming Dencun upgrade in March and the potential approval of an Ether spot ETF in May are key drivers of this rally. The upgrade aims to address scalability issues and improve network efficiency. Ethereum's bullish trend follows Bitcoin's, with expectations of surpassing $4,000 if the ETF is approved. Open Interest in Ethereum has hit a two-year high, indicating increased market speculation and investment. Major firms like BlackRock, VanEck, and Grayscale are awaiting regulatory approval for their Ether ETF applications, with Coinbase named as custodian for five of these applications. However, the market sees only a 44% chance of ETF approval by May 31.

Portfolio Pulse from Khyathi Dalal

February 26, 2024 | 9:19 pm

PRGS

Progress Software Corporation (NASDAQ:PRGS) announced its intention to offer $350 million of Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $52.5 million to cover overallotments. The proceeds will be used for repaying debt, funding capped call transactions, repurchasing up to $25 million of its common stock, and for general corporate purposes. The offering could affect the market price of PRGS stock due to associated capped call transactions and market activities by the option counterparties.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:12 pm

FIVN

Five9, Inc. (NASDAQ:FIVN) announced its plan to offer $600 million in convertible senior notes due 2029 to qualified institutional buyers, with an option for an additional $90 million. The notes, convertible into cash, shares, or a combination, aim to fund capped call transactions, repurchase 2025 notes, and for general corporate purposes. Market activities related to this offering and capped call transactions may impact Five9's stock price.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:06 pm

EQIX

Over the past 5 years, Equinix (NASDAQ:EQIX) has delivered an average annual return of 15.24%, outperforming the market by 2.69% on an annualized basis. A $1000 investment in EQIX 5 years ago would now be worth $2,077.24, showcasing the impact of compounded returns on investment growth. Equinix currently holds a market capitalization of $83.24 billion.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 9:00 pm

TJX

Over the past 10 years, TJX Companies (NYSE:TJX) has outperformed the market with an average annual return of 12.41%, turning a $1000 investment into $3,254.56. The company currently has a market capitalization of $113.23 billion.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 9:00 pm

COIN

SHIBUSD

Shiba Inu (CRYPTO: SHIB) is trading higher by 3.3% near the $0.0001-level, alongside a surge in Bitcoin and other crypto-related stocks. Coinbase shares have increased by 48% in the past month, driven by Bitcoin's rally, the approval of spot Bitcoin ETFs, and growing institutional interest. However, Coinbase experienced significant Bitcoin outflows last week.

Portfolio Pulse from Henry Khederian

February 26, 2024 | 8:50 pm

BTCUSD

ETHUSD

Bitcoin's value soared past $54,000, reaching its highest point since November 2021, marking a significant rally in the cryptocurrency market. Ether also saw a surge, hitting a 22-month high of $3,170. The global cryptocurrency market cap reached $2.08 trillion. QCP Capital warns of a potential pullback due to speculative shifts towards altcoins. Cryptocurrency trader Altcoin Sherpa expects Bitcoin to outperform altcoins in the short run, while technical analyst Ali Martinez noted a record number of Bitcoin whale addresses.

Portfolio Pulse from Murtuza Merchant

February 26, 2024 | 8:34 pm

CORN

Corn prices have halved since their peak in spring 2022, impacting US farmers who now face significant losses. The drop is attributed to a record production year in the US and Brazil, leading to an oversupply. For investors, this situation may present an opportunity, especially through commodity ETFs like the Teucrium Corn ETF (CORN).

Portfolio Pulse from Johnny Rice

February 26, 2024 | 8:32 pm

SLB

High-rolling investors are showing a bullish sentiment on Schlumberger (NYSE:SLB) through significant options trading, as reported by Benzinga. The analysis of options data reveals a majority of trades are bullish, with a notable volume and open interest in contracts predicting SLB's price to range between $40.0 to $50.0. Currently, SLB's stock is slightly down at $48.75, with neutral RSI readings and an anticipated earnings release in 53 days. Analysts have set an average target price of $71.5 for SLB, despite recent downgrades.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 8:31 pm

TEAM

Recent options trading activity indicates a bullish stance on Atlassian (NASDAQ:TEAM) by big-money investors, with a notable split in sentiment (62% bullish, 37% bearish). The trading volume and open interest suggest a price target range of $180 to $240. Significant trades include both calls and puts with varying sentiments and expiration dates. Atlassian's current trading volume is 627,414, with a slight price decrease of -0.19%, standing at $204.06. The RSI may indicate the stock is oversold, with an earnings announcement expected in 66 days. Analysts from Goldman Sachs and UBS maintain neutral ratings with target prices of $215 and $250, respectively.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 8:31 pm