Streetbeat News

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ADM

GOOGL

HEI

LLY

TSLA

A new Solana-based meme coin has surged 2000% in less than a month. A US court approved a $2.7B settlement against Binance. Biden's approval rating drops amid inflation issues. Cathie Wood's Ark Invest shifts its crypto holdings. HEICO reports strong sales, and the Fear & Greed Index indicates 'Extreme Greed'. Tesla and Ford face potential impacts from EV tax credit changes. Google settles an antitrust case for $700M. Tesla shares rebound in premarket trading. Hyundai divests Russian facilities with a loss, and ADM acquires Revela Foods. Eli Lilly's shares may surge due to a new drug, according to Goldman Sachs.

Portfolio Pulse from Akanksha Bakshi

December 19, 2023 | 1:42 pm

GBTC

Tidal Commodities Trust I has filed with the SEC for a new spot Bitcoin ETF under the series 7RCC Spot Bitcoin and Carbon Credit Futures ETF. The fund aims to reflect the price of Bitcoin and Carbon Credit Futures in an 80:20 ratio and plans to list on the NYSE with the symbol 'BTCK'. Other firms like VanEck, Bitwise, Fidelity, and Valkyrie have also proposed similar ETFs, while Grayscale is lobbying to convert its Bitcoin Trust into an ETF.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 1:35 pm

SPY

USA Building Permits for November were reported at 1.460M, slightly below the estimate of 1.470M and lower than the prior figure of 1.498M.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:30 pm

ACN

BLK

CRM

IBM

BlackRock's Investment Institute's 2024 Global Outlook suggests AI investment opportunities are shifting from semiconductors and cloud computing to AI Model infrastructure. Companies like NVIDIA, AMD, Alphabet, Microsoft, and Broadcom have benefited from the AI boom in 2023. BlackRock highlights IBM, Salesforce, Accenture, and Kyndryl as key players in the AI Model infrastructure space, with IBM acquiring StreamSets and webMethods, and Accenture acquiring Ammagamma. BlackRock is overweight on AI theme in developed market stocks for the next 6-12 months, expecting tech sector earnings to drive U.S. corporate profit growth in 2024.

Portfolio Pulse from Surbhi Jain

December 19, 2023 | 1:22 pm

UBS

Cevian Capital AB has invested in UBS Group AG, acquiring about 1.3% of the bank, with the aim of challenging Morgan Stanley's position in wealth management. Cevian's €1.2 billion investment is based on the belief that UBS can double its share price in the next 2-3 years, especially after the acquisition of Credit Suisse. UBS's shares have risen by 50% since the Credit Suisse rescue announcement, and the bank is expected to reveal more about its strategy in February. Cevian's investment history includes stakes in Danske Bank, Swedbank, and a board position in Nordea Bank.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 1:15 pm

MARA

Marathon Digital has signed a definitive purchase agreement to acquire two operational Bitcoin mining sites with a total capacity of 390 megawatts from Generate Capital's subsidiaries for $178.6 million. These will be the first fully owned sites for Marathon, offering expansion opportunities, operational efficiencies, and increasing its Bitcoin mining capacity by 56% to 910 megawatts.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:05 pm

FMST

FMSTW

Foremost Lithium has informed Benzinga that their exploration target includes the B-1 spodumene bearing pegmatite dyke, with plans to extend the mineralization laterally towards the B-2 and B-3 pegmatites. This indicates a strategic move to expand their lithium resource base, which is a key component in electric vehicle batteries and energy storage solutions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:00 pm

FMST

Foremost Lithium Resource & Technology Ltd. (NASDAQ:FMST) has announced plans for a 15-hole, 2,500-meter diamond drill program at the Jean Lake Lithium/Gold Property in Manitoba, Canada, targeting the B-1 spodumene-bearing pegmatite dyke. The drilling, expected to start in 1Q24, aims to expand exploration and potentially uncover more gold deposits and lithium mineralization. Past drilling revealed gold concentrations and adjacent areas showed high lithium concentrations. FMST has secured $3 million in credit financing for the program, with flexible repayment terms. Shares of FMST rose 10.98% to $3.74 in premarket trading on Tuesday.

Portfolio Pulse from Akanksha Bakshi

December 19, 2023 | 1:00 pm

ETHUSD

Veteran commodities trader Peter Brandt predicts a significant drop in Ethereum (ETH) price, suggesting it could fall over 75% to $650. He notes that classical chart patterns, like the rising wedge currently seen in Ethereum's chart, are not always reliable but can indicate potential price targets. Brandt has shorted ETH and set a protective break-even stop. He also criticizes Ethereum for high transaction fees and questions its long-term viability as an asset.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 1:00 pm

FMST

FMSTW

Foremost Lithium has announced plans to commence drilling on its Jean Lake Lithium and Gold Property, as exclusively reported by Benzinga. This development could indicate potential growth and value extraction from the property, which may be of interest to investors in the lithium and gold sectors.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:00 pm