Streetbeat News

Assets

USO

Crude oil prices fell after a Bloomberg report indicated that OPEC+ talks encountered difficulties due to Saudi Arabia's concerns over output levels. The Saudis are reportedly agitating for changes in production quotas, which has introduced uncertainty into the market, leading to a decrease in oil prices.

Portfolio Pulse from Charles Gross

November 22, 2023 | 12:55 pm

BITW

GBTC

The SEC is considering applications for spot Bitcoin ETFs from major firms like BlackRock, Fidelity, and Franklin Templeton. Investors in Grayscale Bitcoin Trust (GBTC) and Bitwise 10 Crypto Index Units (BITW) have seen significant returns, with GBTC and BITW increasing by 245.81% and 215.51% respectively over the past year. Both stocks have shown a strong positive correlation in their price movements with a coefficient of determination of 0.914.

Portfolio Pulse from Mehab Qureshi

November 22, 2023 | 11:06 am

BX

Blackstone Group Inc. (NYSE:BX) is close to finalizing a $2.5 billion deal to acquire Civica, a U.K.-based software developer. The acquisition includes Civica's debt and is part of Blackstone's strategic expansion in Europe, following other U.K. investments. Civica, currently owned by Partners Group, was acquired in 2017 for approximately $1.4 billion. The company provides software services to public agencies and generates recurring revenue, fitting Blackstone's investment strategy of focusing on high-growth, stable cash flow businesses.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 9:28 am

ARKK

Economist Mohamed El-Erian advocates for a fresh approach to growth, emphasizing deregulation and investment in 'growth areas of tomorrow' such as green energy, life sciences, and generative AI. He criticizes current fiscal policies for looking backward rather than forward. Cathie Wood of Ark Investment Management echoes the sentiment, focusing on disruptive innovations like AI, robotics, and energy storage. ARKK, Wood's flagship ETF, recently saw a decline in its share price.

Portfolio Pulse from Shanthi Rexaline

November 22, 2023 | 7:44 am

CRH

CRH plc has agreed to sell its European lime operations to SigmaRoc plc for approximately $1.1 billion. The deal includes 16 operating locations in Ireland, the UK, Germany, Czech Republic, and Poland. These operations generated sales of around $610 million and EBITDA of $137 million in 2022. The transaction is pending customary conditions and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 7:28 am

BNB-USD

BTC-USD

DOGE-USD

ETH-USD

Over $225 million in crypto positions were liquidated following Binance CEO Changpeng Zhao's resignation. The liquidations were predominantly in long positions, with Binance seeing $98 million in trades. Bitcoin, Ethereum, Binance Coin, and Dogecoin were notably affected, with Bitcoin and Ethereum taking the largest hits. Zhao's departure and the subsequent withdrawal surge of $566.8 million from Binance have contributed to market instability.

Portfolio Pulse from Mehab Qureshi

November 22, 2023 | 5:30 am

BTCUSD

ETHUSD

Binance CEO Changpeng Zhao (CZ) resigned following a $4.3 billion DOJ settlement over legal infractions. Despite a spike in withdrawals, Binance's financial standing remains stable with $65-$68.4 billion in assets. The crypto market experienced a downturn, with Bitcoin and Ethereum dropping 3% and 2% respectively after the news. November has historically been a challenging month for crypto, with significant market cap declines and the FTX collapse in the previous year.

Portfolio Pulse from Mehab Qureshi

November 22, 2023 | 5:23 am

BOTZ

IWO

MEME

ETFs tracking meme stocks, such as the Roundhill MEME ETF (MEME), the Robotics & AI ETF (BOTZ), and iShares Russell 2000 Growth (IWO), have experienced significant gains, outperforming the S&P 500 over the past five trading days. DataTrek Research highlights this trend as a sign of investors' 'animal spirits' running hot again, with these ETFs showing better average returns than the S&P not only in the past week but also over the last month and year-to-date. The resurgence of interest in meme stocks is seen as part of a broader bullish market condition, with predictions that the November stock rally could continue through year-end.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 4:02 am

BTCUSD

The article discusses the potential market impact if Satoshi Nakamoto, the pseudonymous creator of Bitcoin, were to move his estimated 750,000 to 1,100,000 Bitcoin holdings. The untouched fortune has remained static for over a decade, and any movement could either cause a drastic drop in Bitcoin's value due to increased supply and panic selling, or it could trigger a bull run if perceived as a sign of confidence. Regulatory implications are also considered, with the event possibly accelerating the evolution of cryptocurrency regulations.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 11:40 pm

DIS

Disney expects to spend approximately $25 billion on produced and licensed content in fiscal 2024, with capital expenditures projected to be around $6 billion, as reported in its 10-K filing.

Portfolio Pulse from Charles Gross

November 21, 2023 | 10:17 pm