Streetbeat News

Assets

BTCUSD

Bitcoin (BTC) surged over 5.6% to cross the $42,000 mark, with technical analysts predicting further gains. Liquidations in the past 24 hours reached $43.35 million, with a put-to-call ratio indicating bullish sentiment. Analyst Ali Martinez noted a buy signal and a potential rise to $43,000, while Michaël van de Poppe suggested the crypto market cap could reach $2 trillion. However, some analysts, like CryptoCon and Altcoin Sherpa, remain cautious, suggesting a possible decline to the low $30,000s or further downside in the mid-term.

Portfolio Pulse from Khyathi Dalal

January 26, 2024 | 9:35 pm

HES

In the last three months, 4 analysts have published diverse ratings on Hess Corporation (NYSE:HES), with 2 bullish and 2 indifferent ratings. The average 12-month price target is $171.0, down 8.23% from previous estimates. Analysts from Susquehanna, UBS, Argus Research, and Bernstein have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Hess, an independent oil and gas producer, reported net proved reserves of 1.3 billion barrels and an average net production of 344 thousand barrels per day in 2022. The company's financials show a market cap above industry average, a revenue decline of -10.31%, a net margin of 18.0%, an ROE of 5.96%, an ROA of 2.22%, and a debt-to-equity ratio of 1.08.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 9:00 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher, up 7.28% at $491.12, amid a rise in Bitcoin prices. Despite recent gains, MSTR shares have fallen over 22% following the approval of Bitcoin spot ETFs. Bitcoin's price had dropped below $39,000 but has since increased by over 5%. CEO Michael Saylor sold more than 126,000 shares this week, as per SEC filings. MicroStrategy, holding 189,150 Bitcoin, will report Q4 earnings on Feb. 6 with an expected EPS of 55 cents and revenue of $132.9 million.

Portfolio Pulse from Erica Kollmann

January 26, 2024 | 9:00 pm

BTCUSD

ETHUSD

Ethereum advocate Polynya criticizes the cryptocurrency market, calling most crypto assets 'grotesquely overvalued' and likening the market to an 'unhinged casino.' Polynya argues that the industry lacks significant product-market fit, with Bitcoin remaining the dominant asset due to its role as a speculative store-of-value. Despite the hype around cryptocurrencies going mainstream, retail investors remain skeptical, with expectations that Bitcoin's price could fall below $20,000 by 2024. Meanwhile, Bitcoin has seen a recent 5% increase in price.

Portfolio Pulse from Ivan Crnogatić

January 26, 2024 | 8:48 pm

GBTC

Oliver Renick from Schwab Network suggests Bitcoin ETFs are being used by 'whales' as an exit strategy rather than an entry point for traditional investors. Market dynamics have shifted, with strong cash flow, profits, and dividends driving outperformance. Bitcoin, lacking these fundamentals, stands out as a risky asset. Despite the introduction of Spot ETFs, Bitcoin's integration into the financial system hasn't led to widespread adoption by traditional investors. The price of Bitcoin has declined despite substantial inflows into ETFs like Grayscale's Bitcoin Trust (GBTC), indicating a disconnect. Technical and market challenges make a bullish case for Bitcoin difficult.

Portfolio Pulse from Murtuza Merchant

January 26, 2024 | 8:16 pm

JCI

Johnson Controls International Plc is considering the sale of a portion of its HVAC (heating, ventilation, and air conditioning) business, which could be valued at around $5 billion. The company is working with advisers to gauge interest from potential buyers. This move is part of a strategic review of the company's operations to streamline its portfolio and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:51 pm

ADM

Archer-Daniels Midland (NYSE:ADM) has seen a 20% increase in short interest since its last report, with 6.45 million shares sold short, representing 1.38% of its float. It would take about 2.08 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. ADM's short interest is below its peer group average of 2.10%.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 7:45 pm

JCI

Johnson Controls is reportedly considering the sale of some of its HVAC assets, which could be valued at around $5 billion, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:23 pm

CCI

Over the past 20 years, Crown Castle (NYSE:CCI) has delivered an average annual return of 11.53%, outperforming the market. A $100 investment in CCI 20 years ago would be worth $888 today. Crown Castle currently holds a market cap of $48.59 billion.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 7:06 pm

TRXUSD

TRON (CRYPTO: TRX) has seen a price increase of 3.4% in the last 24 hours, reaching $0.11, with a 5% increase over the past week. The coin's all-time high is $0.23. Trading volume has decreased by 2% over the past week, while the circulating supply slightly dropped by 0.03% to 88.16 billion. TRX's market cap is currently ranked #12 at $10.14 billion.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 7:03 pm