Streetbeat News

Assets

BTCUSD

ETHUSD

FXSUSD

The cryptocurrency market saw a slight increase, with Ethereum (ETH) surpassing the $2,300 mark and Dymension (DYM) emerging as the top gainer with a 46.2% increase over the past 24 hours. Bitcoin (BTC) also saw a modest rise, trading just below $43,000. The global crypto market cap reached $1.65 trillion, a 0.5% increase. Frax Share (FXS) experienced the largest drop, decreasing by 8.6%.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 2:29 pm

AAPL

GOVT

MSFT

NVDA

SPY

TSLA

Hedge funds experienced over $100 billion in withdrawals in 2023, continuing a trend from 2022 due to underperformance, particularly in equity long-short funds. Short sellers faced significant losses, notably in AAPL, MSFT, and TSLA. Meanwhile, investing in the S&P 500 index through SPY would have yielded a 24.3% return. U.S. Treasury funds underperformed, but the iShares US Treasury Bond ETF (GOVT) saw a 1.5% increase. New SEC rules may increase compliance risks and costs for hedge funds managing over $50 million.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 2:17 pm

EL

Over the past 15 years, Estee Lauder Cos (NYSE:EL) has produced an average annual return of 17.15%, outperforming the market by 4.55% on an annualized basis. A $100 investment in EL 15 years ago would be worth $1,095.79 today. The company currently has a market capitalization of $52.70 billion.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 2:00 pm

MAR

Marriott Intl (NASDAQ:MAR) has delivered an average annual return of 20.08% over the past 15 years, outperforming the market by 7.49% annually. A $100 investment in MAR 15 years ago would now be worth $1,615.59, showcasing the impact of compounded returns on investment growth. Marriott's current market capitalization stands at $71.88 billion.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 2:00 pm

SPY

US December exports increased to $258.20 billion from $254.30 billion in the previous month, while imports rose to $320.40 billion from $316.20 billion.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:40 pm

SP

SP Plus (NYSE:SP) has seen a decrease in short interest, with 1.25 million shares sold short, representing 6.4% of its float. This is a decline of 3.47% from its last report, requiring 8.44 days on average for traders to cover their short positions. Short interest is a key indicator of market sentiment, and a decrease suggests a more bullish outlook among investors. SP Plus has a higher short interest compared to its peer group average of 2.75%, indicating more bearish sentiment towards it than its peers.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

NOK

Nokia's (NYSE:NOK) short interest has decreased by 17.39%, with 21.09 million shares sold short, representing 0.38% of its float. The current short interest suggests a bullish sentiment compared to its peers, where the average short interest as a percentage of float is 7.75%. This change in short interest could influence Nokia's stock performance in the short term.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

PXD

Pioneer Natural Resources (NYSE:PXD) has seen a 3.7% increase in short percent of float since its last report, with 5.20 million shares sold short, representing 2.24% of available shares. This indicates a bearish sentiment among investors, although it's not a definitive predictor of stock price movement. Compared to its peers, PXD has a lower short interest percentage, suggesting it's performing relatively well within its sector.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 1:30 pm

CLSD

Clearside Biomedical, Inc. (NASDAQ:CLSD) announced a $15M registered direct offering of 11,111,111 shares of common stock and accompanying warrants, priced at $1.35 per share. The warrants, exercisable at $1.62, will be available six months post-issuance and valid for five years. The offering, facilitated by Citizens JMP Securities, LLC as the sole placement agent, is expected to close by February 9, 2024. Clearside aims to use the proceeds for working capital and general corporate purposes, projecting funding sufficiency into Q3 2025.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:23 pm

BAC

Bank of America's Q4 2023 Participant Pulse report reveals a 15% increase in average 401(k) account balances and an 11% increase in Health Savings Account balances. The report, analyzing over 4 million participants, shows a doubling in the percentage of participants who increased their 401(k) contributions in Q4. Additionally, fewer participants took loans from their 401(k) plans, and the average loan amount decreased. The report also highlights that Millennials are saving a higher percentage of their HSA contributions compared to other generations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:17 pm