Streetbeat News

Assets

EIS

SPY

TLT

Reports of potential negotiations for the release of hostages in exchange for a ceasefire in Israel have been dismissed by Prime Minister Benjamin Netanyahu. In other news, Yemen's Houthi rebels claim to have shot down a US drone. The Israeli shekel strengthened by 1.3%, and Israeli-related stocks tracked by the iShares MSCI Israel ETF rose by 0.3%. The S&P 500 Index also saw a slight increase, while the iShares 20+ Year Treasury ETF rose by 1.7%.

Portfolio Pulse from Piero Cingari

November 08, 2023 | 10:27 pm

BGS

SENEA

SENEB

Seneca Foods Corporation has purchased assets related to the Green Giant U.S. shelf-stable business from B&G Foods. The company has also entered into a license agreement for use of the Green Giant brand name for Green Giant shelf-stable products. B&G Foods will retain ownership of the Green Giant trademarks.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:22 pm

FCPT

Four Corners Property Trust (NYSE:FCPT) has acquired a Taco Bell property for $2.2 million. The property is located in Oklahoma and is operated under a triple net lease to K-MAC Enterprises, with about five years of term remaining. The transaction was priced at a 7.3% cap rate on rent.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:12 pm

BGS

B&G Foods, Inc. (NYSE:BGS) has sold its Green Giant U.S. shelf-stable vegetable product line to Seneca Foods Corporation. B&G Foods will retain ownership of the Green Giant trademarks and will license the Green Giant brand name to Seneca Foods. The sale does not include Green Giant frozen, Green Giant Canada or the Le Sueur brand. The proceeds from the sale will be used for the repayment of long-term debt.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:05 pm

KNTK

Kinetik has updated its 2023 Adjusted EBITDA guidance range to $820M-$860M and expects 2023 capital expenditures to be at the top end of the company's guidance range of $490M-$540M. The company is on track to achieve its 2023 exit rate guidance of 1.6 Bcf/d of gas processed volumes. It also expects the start-up of the PHP expansion in December. In 2024, Kinetik estimates significant year-over-year Adjusted EBITDA growth with a capital expenditures plan of less than $150 million.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 10:04 pm

CTVA

Corteva has announced a plan to optimize its Crop Protection network of manufacturing facilities and external partners. This includes exiting production activities at its site in Pittsburg, California, and ceasing operations in select manufacturing lines at other locations. The company expects to record total pre-tax restructuring and asset-related charges of $410M-$460M through 2024.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 9:44 pm

BLK

GBTC

The approval window for all pending Spot Bitcoin ETFs opens tomorrow and will last for at least eight days. Bloomberg’s ETF analyst James Seyffart and BI Senior ETF analyst Eric Balchunas suggest a 90% probability of approval by Jan. 10, 2024. The 12 Spot Bitcoin ETF applications are from Grayscale, ARK 21Shares, BlackRock, Bitwise, VanEck, Wisdomtree, Invesco & Galaxy, Fidelity, Valkyrie, Global X, Hashdex, and Franklin Templeton. BlackRock's approval could bring $200 billion to Bitcoin and push BTC price to $330,000.

Portfolio Pulse from Khyathi Dalal

November 08, 2023 | 8:51 pm

WFC

Financial giants have shown a bearish sentiment towards Wells Fargo (NYSE:WFC) with 83% of traders showing bearish tendencies. Out of 12 unusual trades, 10 were puts, valued at $835,520, and 2 were calls, valued at $75,840. The major market movers are focusing on a price band between $35.0 and $55.0 for Wells Fargo. BMO Capital has maintained their Market Perform rating on Wells Fargo, with a price target of $54.

Portfolio Pulse from Benzinga Insights

November 08, 2023 | 8:21 pm

BTCUSD

Crypto analyst Cryptonary predicts that Bitcoin (CRYPTO: BTC) will likely hover within the bounds of $34,000 to $35,600 in the immediate term. This prediction is based on the current market scenario painted by the Federal Reserve's latest remarks, which have injected a dose of uncertainty. The Federal Reserve's comments, particularly those from Neel Kashkari, suggest a more hawkish future stance than previously anticipated, which has had a subtle yet palpable effect on pre-market activities across major indexes and the Dollar Index.

Portfolio Pulse from Murtuza Merchant

November 08, 2023 | 8:20 pm

GLNK

LINKUSD

Grayscale Chainlink Trust (OTCQB:GLNK) is trading at a 200% premium to spot prices, indicating high institutional demand. Each share holds $12 worth of Chainlink’s LINK token, making it almost three times more expensive than the actual value of held assets. The trust holds around $4 million worth of LINK. Rising institutional demand has been pushing crypto token prices higher. Shares of GLNK were up 35% on Wednesday to $52.95, while LINK is up 10.7% in the past 24 hours.

Portfolio Pulse from Khyathi Dalal

November 08, 2023 | 8:09 pm