Streetbeat News

Assets

ARKB

BTCUSD

Max Keiser predicts a market crash akin to 1987, with Bitcoin soaring past $500,000 as a safe haven. He warns that Bitcoin ETFs and domestic miners in the US might face government seizure. Keiser also foresees a migration wave into El Salvador due to market imbalances, with the top 10% of US stocks representing 75% of market value, a concentration level not seen since the Great Depression.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 4:35 am

BTC-USD

DOGE-USD

ETH-USD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced declines, with significant liquidations occurring in the past 24 hours. The global cryptocurrency market cap decreased by 2.03%. Meanwhile, the Nasdaq Composite fell, while the Dow Jones and S&P 500 saw slight gains. Federal Reserve minutes indicated no imminent rate cuts. Analysts predict a correction for Bitcoin before a potential rise, noting mixed behavior among crypto whales but a trend of accumulation among the largest holders.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 2:52 am

SHIBUSD

The Shiba Inu (SHIB) ecosystem has seen a 2,730% increase in its burn rate, with 3 trillion tokens moved to entities like Coinbase, Gate.io, Robinhood, and private wallets. The integration of Shibarium by Tangem and the launch of SHEboshi NFTs on Ethereum are notable developments. Daily transactions have surged to 4.21 million, and wallet addresses have exceeded 1 million. The introduction of Shiba Inu trading in UpDown Options on Crypto.com and the potential utility and burning capabilities of Shibarium are highlighted as key factors for SHIB's future growth.

Portfolio Pulse from Khyathi Dalal

February 21, 2024 | 11:47 pm

LYFT

Lyft has announced a private offering of $400 million in convertible senior notes. This move is aimed at raising capital, potentially for expansion, debt reduction, or other corporate purposes. The offering could lead to dilution of existing shares but also provides Lyft with a flexible financing option.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:56 pm

PSN

Parsons Corporation (NYSE:PSN) plans to offer $700 million in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $100 million. The notes, accruing interest semiannually, are convertible under certain conditions and may be settled in cash or Parsons' stock. Proceeds will fund capped call transactions, repurchase existing convertible notes due 2025, and support general corporate purposes including potential acquisitions. Market activities related to this offering and capped call transactions may impact Parsons' stock price and the notes' initial conversion price.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:39 pm

BROS

Dutch Bros is undertaking a large-scale organizational design initiative, moving certain positions to its Phoenix, Arizona office. This move is expected to cost $24 to $31 million, with an additional $6 to $10 million in capital expenditures for the Arizona office expansion. By January 1, 2025, about 40% of the support center staff will be located in Arizona.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:37 pm

VTLE

Vital Energy announced plans to invest between $750 million and $850 million in 2024, signaling a significant capital expenditure aimed at expanding or enhancing its operations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:31 pm

CHRD

Chord Energy projects its FY24 E&P and other CapEx to be between $905M and $945M, with about 80% allocated to drilling and completions. The company plans to operate 103 to 113 gross wells, maintain oil volumes at 97 to 101 MBopd, and expects an adjusted free cash flow of approximately $875M, assuming $79/Bbl WTI and $2.50/MMBtu Henry Hub prices.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:30 pm

CHRD

ERF

Chord Energy Corporation (CHRD) and Enerplus Corporation (ERF) announced a definitive arrangement to combine in an $11 billion transaction, creating a premier Williston Basin-focused E&P company. The combined entity will have 1.3 million net acres, 287,000 Boepd production in 4Q23, and is expected to generate significant free cash flow and shareholder returns. The deal, comprising 90% stock and 10% cash, will see Chord shareholders owning 67% and Enerplus shareholders 33% of the new company. The merger aims to enhance operating scale, drive returns, and achieve cost synergies up to $150 million annually, with a post-transaction return of capital at 75%+ of free cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:26 pm

BNBUSD

Binance Coin (BNB) saw a 5.5% increase, reaching a 21-month high, possibly due to Binance's announcement of its 47th project on its launchpool, Portal. The BNB Smart Chain reported record-breaking transaction volumes, with analysts predicting further growth, targeting a $400 price level.

Portfolio Pulse from Khyathi Dalal

February 21, 2024 | 10:26 pm