Streetbeat News

Assets

WB

Weibo Corporation has announced a proposed offering of $300 million in Convertible Senior Notes. This move could potentially dilute existing shareholders but also provides capital for growth or other corporate activities.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 9:20 pm

BDX

Becton Dickinson (NYSE:BDX) has seen a 32.05% increase in short interest since the last report, with 2.99 million shares sold short, representing 1.03% of available shares. It would take 1.6 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, BDX has less short interest compared to its peer group average of 3.75%. The rise in short interest does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 8:30 pm

UBS

Over the past 5 years, UBS Group AG (NYSE:UBS) has outperformed the market with an average annual return of 15.77%, turning a $100 investment into $200.11 today. UBS Group currently holds a market capitalization of $86.88 billion.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 7:30 pm

SPY

Loretta Mester, President of the Federal Reserve Bank of Cleveland, stated that the Federal Reserve's balance sheet reduction could proceed independently of changes to the federal funds rate. This suggests that the Fed may continue to reduce its balance sheet even if interest rate adjustments are paused or reversed, indicating a continued focus on tightening monetary policy to combat inflation.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:24 pm

MKRUSD

Maker (CRYPTO: MKR) has seen a 4.25% increase in price over the last 24 hours, reaching $1,542.35, continuing a weekly upward trend with a 4.0% gain. Despite the recent rise, it remains far below its all-time high of $6,292.31. The trading volume has decreased by 34.0% over the past week, while the circulating supply has increased by 1.87% to 918 thousand, which is 91.34% of the max supply. Maker's market cap is currently ranked #48 at $1.42 billion.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 7:00 pm

IMXUSD

Immutable's cryptocurrency (IMX) has seen a 6.18% decrease in price over the last 24 hours, continuing a negative trend with a 7.0% loss over the past week. The trading volume has decreased by 93.0%, while the circulating supply has slightly increased. The current market cap ranking for IMX is #41, valued at $1.59 billion.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 7:00 pm

LDOUSD

Lido DAO's cryptocurrency (LDO) has experienced a 4.85% price drop over the past 24 hours, continuing a weekly decline of 10%. The trading volume has decreased by 45%, and the circulating supply has slightly decreased. Lido DAO's market cap ranking is currently #35, with a valuation of $2.01 billion.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 7:00 pm

ARKF

ARKK

COIN

QQQ

Cathie Wood's ARK Innovation ETF (ARKK) recorded a 35% gain in November, its best month since inception. ARK Fintech Innovation ETF (ARKF) also performed similarly. Despite these gains, ARKK is still 70% below its peak from February 2021. The performance was influenced by the Federal Reserve's steady interest rates and expectations of future rate cuts. Top contributors to ARKK's performance include Coinbase Global Inc (COIN), Roku, Inc. (ROKU), and Block, Inc. (SQ).

Portfolio Pulse from Piero Cingari

November 29, 2023 | 6:32 pm

SOFI

SoFi Technologies Inc. is exiting the cryptocurrency market, instructing its crypto customers to either liquidate their accounts or transfer them to Blockchain.com. The move follows increased regulatory scrutiny and comes after SoFi obtained a bank charter in January 2022, which came with a two-year compliance period for its crypto operations. SoFi's crypto-related fees contributed approximately $6 million to its quarterly earnings, and its digital assets were valued at $139.4 million as of September 30. Customers have until December 19 to transfer their holdings to Blockchain.com.

Portfolio Pulse from Murtuza Merchant

November 29, 2023 | 6:29 pm

AAPL

FNDA

GOOGL

MSFT

NVDA

SPY

Analysts predict an 11% return for the S&P 500 index in 2024, buoyed by lower interest rates and a soft landing for the economy. The SPDR S&P 500 ETF Trust (SPY) has mirrored the index's performance, with an 18-19% increase in 2023. DataTrek suggests the Russell 3,000 index for those seeking more exposure to lower rates, highlighting the Schwab Fundamental U.S. Small Company Index ETF (FNDA) as an option. Despite large moves in big tech stocks, DataTrek sees potential for further gains in 2024, especially for Nvidia (NVDA), Alphabet (GOOGL), Apple (AAPL), and Microsoft (MSFT), which could significantly contribute to the S&P 500's performance due to their substantial market cap weight.

Portfolio Pulse from Neil Dennis

November 29, 2023 | 6:19 pm