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BTCUSD

Bitcoin (BTC) has seen a significant increase of 6.06% in the past 24 hours, reaching a price of $45,203.00. Over the last week, it has gained 7.0%, rising from $42,592.36. Despite this growth, it remains below its all-time high of $69,045.00. The trading volume has increased by 21.0% over the past week, while the circulating supply has slightly decreased by 0.18% to 19.59 million coins, which is 93.27% of the maximum supply. Bitcoin currently holds the #1 market cap ranking at $888.67 billion.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 3:00 pm

NIO

Regal Hotels International Holdings Ltd. and Cosmopolitan International Holdings Ltd. have signed a memorandum of cooperation with Saudi Arabia to develop up to 50 hotels in the Middle East, with an investment of up to $5 billion. The partnership aims to build 30 hotels in Saudi Arabia as part of the kingdom's efforts to diversify its economy away from oil. The companies will also establish an asset management platform to fund hotel-related projects. The Middle East is increasing investments in China and Hong Kong, with significant funds flowing into Chinese corporates from Middle Eastern states.

Portfolio Pulse from The Bamboo Works

January 02, 2024 | 2:34 pm

AMKBY

BOAT

WTI crude oil prices rose to over $73 per barrel, a 2.6% increase, due to escalating tensions in the Red Sea between the US and Iran. US Navy helicopters destroyed three Houthi boats, and Iran deployed a destroyer in response. The Red Sea is a crucial trade route, with 12% of global trade passing through it. Shipping companies like AP Moller-Maersk A/S have suspended Red Sea transit, and the SonicShares Global Shipping ETF (BOAT) has seen an 11% increase in the past three weeks.

Portfolio Pulse from Piero Cingari

January 02, 2024 | 2:29 pm

CIFR

Cipher Mining Inc. (NASDAQ:CIFR) reported a 7.4% increase in Bitcoin production in December 2023, mining approximately 465 BTC. The company sold about 228 BTC and ended the month with a balance of 796 BTC. Cipher Mining also acquired new mining rigs and reported $120 million in liquidity with no debt. The company's operational update highlighted optimal mining conditions and a focus on operations as key factors in their increased production.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:17 pm

TRNO

Terreno Realty Corporation (TRNO) sold an industrial property in Compton, CA for $15.9M, which was originally purchased for $9.4M in 2017. The property is a 58,000 sq ft industrial distribution building, fully leased to one tenant. The sale resulted in an unleveraged internal rate of return of 13.0% for Terreno, which operates in six major coastal U.S. markets.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:15 pm

KEYS

Keysight Technologies (NYSE:KEYS) has seen a 5.88% increase in short interest since its last report, with 2.43 million shares sold short, representing 1.8% of its float. The short interest is lower than the peer group average of 6.49%. 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 02, 2024 | 2:15 pm

CVX

Chevron Corporation (NYSE:CVX) will incur a non-cash, after-tax charge of $3.5 to $4.0 billion in Q4 FY23 due to regulatory challenges in California affecting its upstream assets and obligations from previously sold assets in the Gulf of Mexico. The company plans to continue operating the California assets and expects to manage decommissioning activities in the Gulf over the next decade. Chevron announced a $16 billion capex budget for 2024, with $14 billion for upstream spending, two-thirds of which is for the U.S. CVX shares rose 0.76% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

January 02, 2024 | 2:06 pm

MARA

RIOT

Bitcoin's rise to $45,000 has positively impacted pre-market trading for crypto-related stocks Marathon Digital Holdings Inc (MARA) and Riot Platforms Inc (RIOT), with MARA up 13% and RIOT up 9%. Marathon Digital experienced a 590% stock price increase in 2023, holding 14,025 unrestricted bitcoin and producing 37.9 Bitcoin per day in Q3 2023. Riot Platforms saw a 360% gain in 2023, with no long-term debt and 7,358 bitcoin held. Analyst ratings suggest RIOT has a 15% upside potential, while MARA is considered overvalued by 45%.

Portfolio Pulse from Surbhi Jain

January 02, 2024 | 1:59 pm

CRBJY

LGFRY

MCHI

Chinese stocks, particularly in the real estate sector, experienced a sharp decline following weak property market data. The iShares MSCI China ETF (MCHI) dropped 1.8% in pre-market trading. Longfor Group Holdings ADR (LGFRY) and China Resources Land ADR (CRBJY) are expected to be impacted, with their performance data delayed. The property market data showed a 26% year-on-year drop in average daily home sales, and the manufacturing PMI indicated economic contraction. The Chinese yuan also fell by 0.6% against the dollar.

Portfolio Pulse from Neil Dennis

January 02, 2024 | 1:44 pm