Streetbeat News

Assets

HSCS

Heart Test Laboratories reported approximately $100,000 in cash and cash equivalents for Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:23 pm

LNC

Lincoln Financial Group (NYSE:LNC) has agreed to sell its wealth management business to Osaic, Inc. The deal, expected to close in the first half of 2024, will provide Lincoln with a $700 million capital benefit, which will be used to improve its risk-based capital ratio and reduce its leverage ratio. The transaction includes the sale of Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation, with approximately 1,450 financial professionals. Lincoln will retain Lincoln Financial Distributors and its independent agents, and expand its distribution relationship with Osaic. There are no expected material impacts to Lincoln's free cash flow or earnings from this transaction.

Portfolio Pulse from Happy Mohamed

December 14, 2023 | 9:07 pm

SCHW

Shares of The Charles Schwab Corporation (NYSE:SCHW) rose after the company reported a 7% increase in total client assets to $8.18 trillion in its November activity report. Other positive figures included $21.7 billion in core net new assets and a $5.0 billion increase in transactional sweep cash. The stock's recent success is attributed to falling Treasury yields and the Fed's decision to maintain interest rates. At the time of publication, SCHW shares were up 6.61% at $70.69.

Portfolio Pulse from Ryan Gustafson

December 14, 2023 | 8:56 pm

SBAC

SBA Communications Corporation's (NYSE:SBAC) short interest has increased by 6.19% since the last report, with 2.76 million shares sold short, representing 3.09% of available shares. It would take about 4.02 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. SBAC has less short interest compared to its peer group average of 4.46%.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 8:15 pm

BLK

IEF

IVV

QQQ

SPY

VCIT

VGIT

VTI

BlackRock Inc (NYSE:BLK) predicts no rate cuts until the second half of 2024, suggesting frequent portfolio adjustments may be necessary due to various factors including geopolitical risks, election cycles, the U.S. fiscal situation, and central bank policies. Gargi Pal Chaudhuri, head of iShares Investment Strategy Americas at BlackRock, advises against staying in cash and recommends deploying cash selectively in fixed income and equities, with a focus on downside protection. ETFs are recommended for their efficiency in adjusting to market changes. Popular U.S. equity and intermediate-term bond ETFs are mentioned as investment vehicles.

Portfolio Pulse from Surbhi Jain

December 14, 2023 | 7:49 pm

BLK

Valkyrie Investments has submitted its fourth amendment to the Spot Bitcoin ETF application, indicating a continuous offering for up to three years from the original offering date. CoinShares has obtained an exclusive option to acquire Valkyrie Funds, and BlackRock has enabled Wall Street banks to indirectly own crypto assets in the spot Bitcoin ETF. The SEC's recent interactions with BlackRock and Fidelity suggest an open dialogue, with market expectations that all ETF applications will be approved simultaneously to prevent a first-mover advantage. Valkyrie's approval deadline is January 10, 2024.

Portfolio Pulse from Khyathi Dalal

December 14, 2023 | 7:17 pm

IMXUSD

Immutable's cryptocurrency (IMX) has seen a significant price increase of 9.18% in the last 24 hours, reaching $2.18. Over the past week, IMX has surged 47.0%, climbing from $1.48. Despite the recent gains, it is still well below its all-time high of $9.52. The trading volume has decreased by 58.0% over the past week, while the circulating supply has slightly decreased by 0.16%. Immutable's current market cap is $2.81 billion, ranking it 31st in the market.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 7:00 pm

ALGN

APLS

ENPH

FSLR

GLD

LCID

MRNA

SEDG

TLT

TPIC

USO

US stocks are on track for a 7-day winning streak, with the S&P 500 and Nasdaq 100 nearing all-time highs, and the Dow setting new records. The Russell 2000 has surged following the Fed's meeting. Treasury yields have fallen, with the 10-year yield at 3.9%, positively impacting the iShares 20+ Year Treasury Bond ETF (TLT). Mortgage rates have dropped below 7%, boosting real estate stocks. The dollar weakened against the euro, while gold (GLD) and crude oil (USO) prices rose. Bitcoin also gained. Solar stocks, including SolarEdge (SEDG), Enphase Energy (ENPH), and First Solar (FSLR), rallied after the Fed's pivot. Moderna (MRNA) surged on positive trial results, Align Technology (ALGN) soared after Health Canada's update, and Lucid Group (LCID) rallied on EV production news. Apellis Pharmaceuticals (APLS) fell after downgrades, and TPI Composites (TPIC) surged on an agreement with Oaktree Capital Management.

Portfolio Pulse from Piero Cingari

December 14, 2023 | 6:58 pm

BLK

FNF

SEC Chair Gary Gensler discussed the review process for spot Bitcoin ETF applications on CNBC, mentioning recent meetings with Blackrock and Fidelity. While the SEC is reconsidering applications due to court rulings, Gensler warned of noncompliance in the crypto space. Bitcoin's price remains high amid investor optimism for potential ETF approvals, expected between Jan. 5 and Jan. 10, 2024.

Portfolio Pulse from Erica Kollmann

December 14, 2023 | 6:36 pm