Streetbeat News

Assets

OPK

OPKO Health, Inc. (NASDAQ:OPK) is initiating a private offering of $200 million Convertible Senior Notes due 2029, with an option for the initial purchaser to buy an additional $30 million. The notes are senior unsecured obligations, paying semiannual interest, maturing on January 15, 2029, and can be converted into cash, shares, or a mix. Entities affiliated with company executives indicated interest in acquiring $70 million of these notes. Proceeds may be used to repurchase common stock and 4.50% Convertible Senior Notes due 2025. The repurchases could affect the market price of the common stock and the notes. The securities offered have not been registered under the Securities Act and are available only to qualified institutional buyers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:08 pm

SBUX

Over the past 20 years, Starbucks (NASDAQ:SBUX) has produced an average annual return of 12.89%, outperforming the market by 5.49% on an annualized basis. A $100 investment in SBUX 20 years ago would be worth $1,120.98 today. Starbucks currently has a market capitalization of $106.27 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 2:00 pm

FUBO

FuboTV Inc (NYSE:FUBO) shares are trading higher after announcing a multi-year distribution agreement with Nexstar Media, covering 89 local TV stations. This follows a recent debt reduction move by FuboTV, where it closed a privately negotiated exchange to reduce its debt by $28.3 million. The company's stock price has risen 2.76% to $2.98.

Portfolio Pulse from Adam Eckert

January 04, 2024 | 1:59 pm

MARA

Marathon Digital Holdings Inc (NASDAQ: MARA) shares are rising after the company reported a record Bitcoin production of 1,853 in December, totaling 12,852 for 2023. Marathon now owns over 15,000 Bitcoin and increased its operational hash rate by 18% to 22.4 exahashes. The company's acquisition of sites in Texas and Nebraska is expected to close in January 2024, which may improve cost structure and growth potential. Marathon ended the year with $1 billion in cash and Bitcoin. The stock is also reacting to the rise in Bitcoin's price, which was up 2.07% at $43,319.

Portfolio Pulse from Adam Eckert

January 04, 2024 | 1:44 pm

OSIS

OSI Systems has received an order worth approximately $5 million to supply a U.S. hospital with patient monitoring solutions and related supplies. The order includes the Rothman Index, an AI-enabled predictive analytics tool, SafeNSound, a clinical workflow solution, and Xhibit Central Stations with XTR Telemetry and Qube bedside patient monitors.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:34 pm

RLMD

Relmada Therapeutics has provided a corporate update, indicating that its strong balance sheet is expected to support the company through all critical catalysts anticipated in 2024. This suggests that the company is well-capitalized and prepared for upcoming events that could significantly impact its operations and stock value.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:39 pm

FXI

China's securities regulator has dismissed rumors about halting quantitative trading in the commodity futures market as untrue. Furthermore, all commodity futures exchanges in China are set to optimize and adjust their fee reduction policies in 2024, according to Reuters.

Portfolio Pulse from Charles Gross

January 04, 2024 | 12:23 pm

AMD

CALM

INTC

MDB

MU

QQQ

SPY

WBA

U.S. stock futures are slightly higher, with investors focusing on labor market reports after hawkish Fed minutes dampened hopes for early rate cuts. Small-cap stocks and crude oil prices are in the spotlight, while bond yields have risen. Analysts from Morgan Stanley and Carson Group provided insights, suggesting no rate cuts until at least June and noting a weak Santa Claus Rally as a potential warning for market performance. In premarket trading, SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight gains, while individual stocks like AMD, INTC, CALM, MU, and MDB moved on analyst actions or company news. European stocks advanced, Asian markets declined, and cryptocurrencies traded lower.

Portfolio Pulse from Shanthi Rexaline

January 04, 2024 | 12:21 pm

BLK

GS

Goldman Sachs (GS) is in talks to become an authorized participant for BlackRock's (BLK) upcoming spot Bitcoin ETFs, as well as those planned by Grayscale. GS and BLK stocks rose by 1.71% and 2.06%, respectively, on Thursday. The SEC is expected to decide on the Ark/21Shares spot Bitcoin ETF by January 10. To date, the SEC has only approved ETFs linked to Bitcoin and Ethereum futures, not spot cryptocurrencies. Goldman Sachs' potential role would involve creating and redeeming ETF shares to reflect the value of the underlying Bitcoin.

Portfolio Pulse from Anusuya Lahiri

January 04, 2024 | 11:39 am

NFGC

New Found Gold Corp. announced an expansion of the exploration program at its wholly-owned Queensway Project, located along the Trans-Canada Highway in Newfoundland.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:35 am