Streetbeat News

Assets

GBTC

Bitcoin's price has dropped below $39,000, erasing gains from the last two months since the U.S. launch of spot ETFs. The sell-off is partly due to the FTX bankruptcy estate selling shares of Grayscale's GBTC. Analysts suggest the ETF approval might mark a short- to mid-term price peak. Trading volume and circulating supply of Bitcoin have also decreased, while Peter Schiff comments on the bear market for Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 12:14 pm

IVZ

Invesco has reported its Q4 FY23 ending Assets Under Management (AUM) at $1,585.3 billion, marking a 6.6% increase from the previous quarter and a 12.5% increase from the prior year-end.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:00 pm

IVZ

Invesco reported Q4 FY23 net long-term inflows of $6.7 billion, driven by $12.4 billion from ETFs, $1.4 billion from active fixed income, $1.5 billion from Greater China, and $0.2 billion from private markets.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:59 am

RTX

RTX Company has reported a substantial backlog totaling $196 billion, with $118 billion attributed to commercial interests and $78 billion to defense contracts.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:57 am

AMD

ARKB

ARKW

NVDA

Cathie Wood's Ark Investment Management sold shares of Nvidia (NVDA) and AMD (AMD) from its Ark Next Generation Internet ETF (ARKW) ahead of Q4 results. The sales generated approximately $2.39 million from NVDA and $4.11 million from AMD. Analysts remain optimistic, with KeyBanc maintaining Overweight ratings and high price targets for both stocks. Ark's sales may indicate profit-taking or a shift towards undervalued AI stocks or its own ARKB ETF.

Portfolio Pulse from Shanthi Rexaline

January 23, 2024 | 11:35 am

SYF

Synchrony Financial reported an increase in Q4 loan receivables by 11% YoY to $103B, with purchase volume up 3% and average active accounts up 5%. Deposits grew by 13% YoY to $81.2B. However, new accounts fell by 3%, net interest margin decreased by 48 basis points, and both return on assets and equity saw declines.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 11:09 am

SHIBUSD

Shiba Inu's (CRYPTO: SHIB) burn rate increased by 450%, with over 146 million SHIB tokens burned in a single day. A significant transaction removed over 100 million SHIB. The crypto derivatives market saw increased activity in SHIB, with an Open Interest (OI) of $18 million. OKX exchange led in SHIB derivative trades with $7.5 million in OI. The long versus short position ratio suggests a bullish sentiment. Despite this, SHIB's price was down 3.45% at $0.000008949.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 11:00 am

BABA

TCEHY

Richard Fontaine, CEO of the Center for a New American Security, argues that despite China's economic slowdown, demographic challenges, and real estate turmoil, the country still offers significant investment opportunities. China's economy outpaced the U.S. last year and leads in technologies like AI and quantum computing. The Chinese military is expanding, and there's no sign of economic struggles impacting its global activities. However, China's tech giants Alibaba (BABA) and Tencent (TCEHY) face economic headwinds, with reduced external investments and a global tourism hit of $129 billion due to post-pandemic pullback.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 10:40 am

ARCT

BITF

CLSK

COIN

LOGI

MARA

SGMT

TBPH

Logitech International S.A. (LOGI) reported Q3 earnings of $1.53 per share, beating estimates of $1.17 per share, with sales matching expectations at $1.25 billion. However, the company expects an annual sales decline of 6-7%, better than previous estimates of 9-12%. LOGI shares fell 7.4% in pre-market trading. Other stocks like SGMT, ARCT, COIN, CLSK, MARA, TBPH, and BITF also recorded losses in pre-market trading, with several declining due to Bitcoin's weakness.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 10:04 am

BABA

BIDU

FXI

NIO

PDD

SPY

XPEV

Bloomberg reported that China is considering a $278 billion rescue package for its stock market. The package aims to stabilize the market and boost investor confidence amid recent declines.

Portfolio Pulse from Charles Gross

January 23, 2024 | 9:57 am