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BTCUSD

Bitcoin's price dropped over 9% after Matrixport released a report predicting the SEC will reject all Bitcoin Spot ETF proposals in January 2024. The report cites the political composition of the SEC and Chair Gary Gensler's cautious stance on crypto as reasons for the likely rejections. The drop caused $500 million in liquidations across derivatives exchanges. Matrixport advises traders to hedge against further declines but maintains a positive long-term outlook for Bitcoin.

Portfolio Pulse from Murtuza Merchant

January 03, 2024 | 1:38 pm

CI

Cigna Group (NYSE:CI) has experienced a 27.47% increase in short interest since its last report, with 3.37 million shares sold short, representing 1.16% of its float. The short interest is below the peer group average of 9.20%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:15 pm

AMP

Ameriprise Financial (NYSE:AMP) received mixed ratings from 4 analysts in the past three months, with an updated average 12-month price target of $402.5, an 11.03% increase from the previous target. The company has a strong presence in asset and wealth management with $1.3 trillion in assets under management. Despite positive revenue growth, its net margin and ROA are below industry standards, while its ROE is impressive. The company's debt-to-equity ratio is higher than the industry average, indicating financial risk.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

ANSS

Ansys (NYSE:ANSS) has seen a 5.92% increase in short interest since its last report, with 1.22 million shares sold short, representing 1.79% of its float. The short interest is lower than the peer group average of 3.52%. While a rise in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 1.51 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 1:00 pm

AEXAF

EADSY

Atos SE has received non-binding interest in its Big Data & Security (BDS) business, with Airbus SE making an indicative offer of €1.5 billion-€1.8 billion for the entire unit. The potential acquisition would enhance Airbus's defense and security capabilities with advanced cybersecurity, computing, and AI. Atos is entering a due diligence phase with Airbus and continues exclusive negotiations with EPEI for the sale of Tech Foundations. Atos may sell additional assets to reduce debt and realign its business.

Portfolio Pulse from Shivani Kumaresan

January 03, 2024 | 12:24 pm

SFWL

SOAR

TPCS

The article highlights three industrials sector stocks that are considered oversold based on their Relative Strength Index (RSI) values, which are near or below 30. Shengfeng Development Limited (SFWL) has seen its stock fall 80% over the past month with an RSI of 24.39. Volato Group, Inc. (SOAR) expanded its fleet and saw its stock fall 55% over the past month with an RSI of 28.66. TechPrecision Corporation (TPCS) acquired Votaw Precision Technologies, doubling its revenue and EBITDA, and its stock fell 13% over the past month with an RSI of 29.26.

Portfolio Pulse from Avi Kapoor

January 03, 2024 | 12:20 pm

CRNX

Radionetics Oncology has successfully raised $52.5 million in a Series A funding round. The capital will be used to advance their pipeline of first-in-class radiopharmaceuticals, which are specialized drugs that deliver radiation therapy directly to cancer cells. This funding round is a significant milestone for Radionetics Oncology as it seeks to develop and bring innovative cancer treatments to market.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:19 pm

BTCUSD

Bitcoin futures have experienced a significant decline, dropping by 7.6%. This downturn reflects the current volatility and bearish sentiment in the cryptocurrency market. Investors holding positions in Bitcoin futures or related assets may face losses, and the sentiment could also affect companies with exposure to Bitcoin or the broader cryptocurrency sector.

Portfolio Pulse from Charles Gross

January 03, 2024 | 12:13 pm

AFMD

Affimed N.V. has sold its wholly-owned subsidiary AbCheck to an undisclosed buyer for $6 million. The sale is part of Affimed's strategic focus on its innate cell engager (ICE) pipeline and T cell engager programs. The transaction provides Affimed with additional capital to advance these programs, which are central to the company's growth strategy.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 11:35 am

NIO

NIO has notified holders of its 0.00% Convertible Senior Notes due 2026 about their right to require the company to repurchase the notes on February 1, 2024. This repurchase right is pursuant to the Indenture dated January 15, 2021, with The Deutsche Bank Trust Company Americas as trustee, and expires at 5:00 p.m., New York City time, on January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 11:12 am