Streetbeat News

Assets

TLT

U.S. Treasury auctions are showing signs of stress as primary dealers are taking a larger share due to fading foreign demand. Yields have spiked to 16-year highs, with primary dealers covering more of the auctions than usual. The bid-to-cover ratios remain solid, indicating good demand, but yields are slightly higher than expected. The iShares 20+ Year Treasury Bond ETF (TLT) has gained 12% since October 23. The U.S. government faces a record debt issuance in 2024 to cover its budget, service its deficit, and redeem matured bonds, which could stress-test Treasury demand.

Portfolio Pulse from Neil Dennis

December 12, 2023 | 9:25 pm

BFH

Bread Financial Holdings, Inc. (NYSE:BFH) has upsized its private offering of senior notes from $500 million to $600 million, with a 9.750% interest rate due in 2029. The offering is expected to close on December 22, 2023, with an anticipated net proceed of approximately $592.5 million, after discounts and before expenses. The proceeds will be used to redeem outstanding 4.750% Senior Notes due in 2024, repay existing term loans, and cover related fees and expenses, with any remainder for general corporate purposes. The notes will be guaranteed by the Company's domestic subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:12 pm

FTEK

Fuel Tech, a leader in air pollution control and chemical technologies, has received orders totaling $2.5 million from clients in South Africa and the Caribbean. These orders are for Fuel Tech's advanced pollution control solutions and chemical technologies, which are designed to help reduce emissions and improve air quality.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:11 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB), an Ethereum-based memecoin, is in the spotlight after a significant transfer of 4.2 trillion SHIB and a teaser from its lead developer about an upcoming 'game-changing announcement.' The announcement is speculated to be related to the Shibarium L2 Blockchain, which will start automated SHIB burns in January 2024. Shibarium has seen an increase in daily transactions and has processed 93.6 million transactions since its mainnet launch. SHIB's price has risen 1.5% in the past 24 hours.

Portfolio Pulse from Khyathi Dalal

December 12, 2023 | 9:10 pm

NKE

Over the past 15 years, Nike (NYSE:NKE) has produced an average annual return of 16.17%, outperforming the market by 4.7% annually. A $1000 investment in NKE 15 years ago would now be worth $9,665.59. Nike's market capitalization currently stands at $182.11 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 8:31 pm

ETH-USD

LUNA-USD

USTC-USD

KuCoin, a Seychelles-based crypto exchange, has been banned from operating in New York following a $22 million settlement with the state's Attorney General for illegal crypto transactions. The settlement requires KuCoin to refund over $16.7 million to New York investors and pay $5.3 million to the state. KuCoin is now prohibited from trading securities and commodities in New York and from allowing New Yorkers to access its platform. The company must also cooperate with U.S. law enforcement.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 7:44 pm

ACHV

ADTX

CCCC

GGE

ICVX

JCI

ORCL

U.S. stocks closed higher with the Dow Jones gaining over 100 points. Materials shares rose by 0.5%, while energy shares fell by 1.7%. Johnson Controls reported Q4 results with sales growth of 2.7% Y/Y to $6.91 billion, missing estimates. Aditxt's shares surged 64% after agreeing to acquire Evofem Biosciences. C4 Therapeutics shares jumped 108% due to a collaboration agreement with Merck & Co. Icosavax shares increased 48% after AstraZeneca's acquisition announcement. Conversely, Achieve Life Sciences shares fell 42%, Oracle shares dropped 12%, and Green Giant shares declined 44%. Crude oil was down 4.1%, and gold slightly increased by 0.1%.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 7:23 pm

HOOD

SCHW

SPY

SQQQ

TQQQ

Retail investing has surged in 2023, with a significant number of new brokerage accounts opened since 2020. Despite a drop in users for platforms like Robinhood, many investors have moved to brokers like Fidelity and Charles Schwab. Retail trading volume hit a record $1.51 billion daily in February 2023. Public's data shows retail investors diversifying into ETFs and fixed-income assets, with ProShares UltraPro Short QQQ ETF, ProShares UltraPro QQQ, and SPDR S&P 500 ETF Trust being the top traded ETFs.

Portfolio Pulse from Natan Ponieman

December 12, 2023 | 7:20 pm

SPY

The US reported a budget deficit of $314 billion for November, exceeding the estimated $301.05 billion and surpassing the deficit of $249 billion from November 2022.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 7:04 pm

AXP

Over the past 15 years, American Express (NYSE:AXP) has produced an average annual return of 15.42%, outperforming the market by 3.96% on an annualized basis. A $1000 investment in AXP 15 years ago would be worth $8,483.30 today. American Express currently has a market cap of $123.14 billion.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 7:01 pm