Streetbeat News

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ETHUSD

On Sunday, 4,136.17 Ether (ETH) worth $7,838,323 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -2.87%.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 6:00 pm

BIL

BRK

Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK) has reduced its exposure to equities and increased its cash holdings, with cash, cash equivalents, and U.S. Treasury Bills valued at $157.2 billion at the end of September. A significant portion of this, approximately $127.6 billion, was invested in U.S. Treasury Bills. The company's net acquisitions of U.S. Treasury Bills and fixed maturity securities surged to $134.2 billion during the first nine months of 2023. This move has influenced market participants, leading to a significant $3.2 billion inflow into the SPDR Bloomberg 1-3 Month T-Bill ETF (NYSE:BIL) over the past week.

Portfolio Pulse from Piero Cingari

November 06, 2023 | 5:49 pm

DBGI

Digital Brands Group Inc (NASDAQ:DBGI) has announced that its Board of Directors will initiate a formal review to explore strategic alternatives to maximize shareholder value. The decision comes in light of the dislocation between the company's public market value and the intrinsic value of its underlying assets. The company has not set a deadline for the completion of the process. In recent months, Digital Brands raised $5 million through equity offering and reported a 69.6% increase in Q2 FY23 revenue to $4.5 million.

Portfolio Pulse from Shivani Kumaresan

November 06, 2023 | 5:44 pm

ADP

LMT

LUV

UPS

Benzinga's options activity scanner has identified significant options activity in the Industrials sector. Notable trades include bullish put options for LUV and LMT, bearish call options for UPS, and neutral put options for ADP. The total cost received by the writing parties for these trades ranged from $26.6K to $1.2 million.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 5:35 pm

LLY

Eli Lilly (NYSE:LLY) has outperformed the market over the past 5 years by 30.05% on an annualized basis, producing an average annual return of 39.45%. If an investor had bought $100 of LLY stock 5 years ago, it would be worth $537.38 today.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 5:30 pm

UNP

Union Pacific (NYSE:UNP) has outperformed the market over the past 20 years, producing an average annual return of 13.77%. If an investor had bought $100 of UNP stock 20 years ago, it would be worth $1,324.33 today. The company currently has a market capitalization of $129.31 billion.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 5:30 pm

ABBV

Over the past 10 years, AbbVie (NYSE:ABBV) has outperformed the market by 2.17% on an annualized basis, producing an average annual return of 11.59%. If an investor had bought $1000 of ABBV stock 10 years ago, it would be worth $2,926.09 today.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 5:00 pm

EA

Electronic Arts (NASDAQ:EA) has outperformed the market over the past 10 years, producing an average annual return of 17.16%. If an investor had bought $1000 of EA stock 10 years ago, it would be worth $4,958.06 today.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 5:00 pm

SOLUSD

V

Austin Federa, Head of Strategy at Solana Foundation, believes that crypto payments are reshaping financial transactions worldwide. He highlighted the efficiency and cost-effectiveness of blockchain technology, particularly for smaller transactions. Major financial players like Visa are integrating crypto payments into their systems, with Visa using the Solana blockchain for 24/7 transaction settlement. Federa also expressed concerns about U.S. regulation pushing crypto innovation offshore. He emphasized the importance of a regulatory environment that fosters innovation while protecting investors.

Portfolio Pulse from Murtuza Merchant

November 06, 2023 | 5:00 pm

SPXL

SPXS

SPY

The SPDR S&P 500 (NYSE:SPY) opened slightly higher after the Federal Reserve decided to hold interest rates steady and job gains data came in lower than expected. The SPY logged its best week this year, rising 5.85% between Oct. 27 and Friday. The market ETF was consolidating on Monday, forming an inside bar on lower-than-average volume. Traders can play the SPY either bullishly or bearishly through Direxion Daily S&P 500 Bull 3X Shares (NYSE:SPXL) and Direxion Daily S&P 500 Bear 3X Shares (NYSE:SPXS).

Portfolio Pulse from Melanie Schaffer

November 06, 2023 | 4:48 pm