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Former President Donald Trump's net worth has surged to $3.1 billion, up from $2.6 billion in 2021, according to the Bloomberg Billionaires Index. This increase is attributed to the recent rally in Bitcoin's price and the resilience of Trump's real estate businesses. Trump's cryptocurrency holdings, including ETH, WETH, TRUMP, MATIC, and DUBBZ, have seen a substantial surge of over $15,000 in the past 24 hours.

Portfolio Pulse from Mehab Qureshi

November 08, 2023 | 3:41 am

BTCUSD

DOGEUSD

ETHUSD

The overall value of the cryptocurrency market capitalization reached a 16-month high, surpassing $1.31 trillion, due to a surge in altcoin rally and positive sentiment in traditional markets. Bitcoin futures Open Interest crossed the $15 billion milestone for the first time since May 2022. Analysts predict that the BlackRock Bitcoin Spot ETF, backed 1:1 by real BTC, will push Bitcoin above $100,000 almost instantly.

Portfolio Pulse from Mehab Qureshi

November 08, 2023 | 2:44 am

BNTX

Economist Mohamed El-Erian highlighted the recent downturn in yields and oil prices, suggesting it could be beneficial for the economy and most financial asset classes, but warned of potential economic slowdown. U.S. crude oil prices fell below $78, the lowest since July, and U.S. Treasury yields have also seen a decline. The World Bank has warned that Middle East tensions could escalate oil prices, potentially reaching as high as $157 per barrel.

Portfolio Pulse from Benzinga Neuro

November 08, 2023 | 1:52 am

ARKK

DBC

KRE

PDBC

Medium-cap ETFs ARK Innovation ETF (ARKK) and SPDR S&P Regional Banking ETF (KRE) saw significant weekly gains of 18.59% and 12.22% respectively. ARKK's largest holdings are Roku, Inc. (ROKU) and Coinbase Global, Inc. (COIN). KRE's largest holdings are Truist Financial Corporation (TFC) and M&T Bank Corporation (MTB). In contrast, Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Invesco DB Commodity Index Tracking Fund (DBC) saw weekly losses of 1.33% and 1.28% respectively.

Portfolio Pulse from Johnny Rice

November 07, 2023 | 11:44 pm

AVDV

SUSA

VIS

VSS

Mid-cap ETFs have seen significant movements. Winners include Avantis International Small Cap Value ETF (AVDV) and iShares MSCI USA ESG Select ETF (SUSA), which added $552.36 million and $320.78 million in AUM respectively over the trailing week. Losers include Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and Vanguard Industrials ETF (VIS), which lost $471.51 million and $285.73 million in net assets respectively over the trailing week.

Portfolio Pulse from Johnny Rice

November 07, 2023 | 11:43 pm

AJG

EVBN

Evans Bancorp, Inc. (NYSE:EVBN) has announced a definitive agreement to sell The Evans Agency, LLC to Arthur J. Gallagher & Co. (NYSE:AJG) for $40 million. The transaction is expected to be completed in Q4 2023. The sale is expected to result in a net gain of approximately $15.1 million after tax for Evans Bancorp and eliminate $12 million of goodwill and other intangibles. The proceeds from the sale will be used to support strategic growth initiatives and enhance long-term shareholder value.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:56 pm

CURO

CURO Group Holdings Corp. (NYSE:CURO) has closed two non-recourse facilities and Flexiti escrow. The company's subsidiary, Heights Financing II, LLC, entered into a new $140 million asset-backed warehouse facility to finance future loans, which can be increased to $175 million under certain conditions. Another subsidiary, CURO Canada Receivables II Limited Partnership, amended its existing Canadian revolving credit facility to increase the commitments of the lenders by C$40 million. CURO also received approximately C$27 million from Questrade as part of the purchase price for Flexiti.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:50 pm

TEVA

Teva Pharmaceutical Industries Ltd. (TEVA) has appointed Dr. R. Ananthanarayanan as CEO of its Active Pharmaceutical Ingredients business (Teva api). Dr. Ananth will start his role on November 27, 2023, and will be based in Teva's U.S. headquarters. He brings over 34 years of experience in global API businesses and has previously served as CEO of a portfolio company of a global leading private equity firm and a leading Contract Development and Manufacturing Organization. This appointment is part of Teva's Pivot to Growth strategy announced in May 2023.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:44 pm

BLK

OXY

Occidental (OXY) and BlackRock (BLK) have formed a joint venture to develop STRATOS, the world's largest Direct Air Capture (DAC) facility, in Texas. BlackRock will invest $550 million on behalf of clients in the project. The facility, which is 30% complete, is designed to capture up to 500,000 tonnes of CO2 per year and is expected to be operational in mid-2025. 1PointFive, a subsidiary of Occidental, has signed CO2 removal credit purchase agreements with customers including Amazon, Airbus, All Nippon Airways, TD Bank Group, the Houston Astros, and the Houston Texans.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:39 pm

HBNC

Horizon Bancorp, Inc. announced the succession plan for its CFO and a restructuring of its mortgage and consumer lending leadership. Mark Secor will transition from his role as Executive Vice President and CFO of the Company and Horizon Bank, continuing in the role until a successor is appointed and providing transitional support through April 30, 2024. The company also announced a restructuring of its mortgage and consumer lending division, with Noe Najera departing the company.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:37 pm