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The Southeast region of America is becoming a hub for electric vehicle and battery production, challenging Detroit's auto industry dominance. The region has attracted foreign auto and battery manufacturers due to substantial tax credits and environmental subsidies from the Inflation Reduction Act. Since 2010, the region has seen over $70 billion in EV and battery production investments, surpassing the Midwest’s $51 billion. The region's 'right-to-work' laws have also attracted investment. However, some experts suggest that the figures may be misleading as new plants in the southeast require more investment due to their greenfield status.

Portfolio Pulse from Benzinga Neuro

October 26, 2023 | 6:23 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies traded mixed with Bitcoin dominance rising to a new 30-month high. Bitcoin hovered around the $34,600 mark, breaching the $35,000 level intraday. Ethereum was in the red, while Dogecoin surged. Bitcoin's dominance rate rose to 54.4%, the highest since April 2021. Edward Moya, a Senior Market Analyst with OANDA, said the short-term bull case for Bitcoin will remain intact until there is more clarity on the US spot Bitcoin ETF. Market intelligence platform Santiment noted that Bitcoin's 2-year reliance on equities is gone, a typical recipe for bull market conditions.

Portfolio Pulse from Shivdeep Dhaliwal

October 26, 2023 | 2:57 am

ETHUSD

Crypto startup Nocturne Labs has raised $6 million in seed funding, co-led by Bain Capital Crypto and Polychain Capital, with participation from Ethereum co-founder Vitalik Buterin and others. The company aims to bring private accounts to the Ethereum ecosystem, enabling anonymous transactions. The funding round started in January 2023 and ended in August 2023, with the protocol expected to launch on the Ethereum mainnet in November 2023.

Portfolio Pulse from Khyathi Dalal

October 25, 2023 | 10:09 pm

AAC

X-Energy Reactor Company and the U.S. Department of Energy (DOE) have signed a cooperative agreement to advance the development of a mobile microreactor design. The agreement supports X-energy's work on the preliminary design of its transportable nuclear power plant. The DOE has awarded approximately $2.5 million to X-energy for this project. The Department of Defense (DOD) has also expanded its agreement with X-energy to develop a cost-effective design for a transportable advanced nuclear microreactor prototype for use in remote military locations.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 9:21 pm

ETHUSD

Telegram's Maestro bot, one of the largest in the ecosystem, suffered a security breach leading to the theft of over 280 Ether (ETH), worth around $500,000. The breach was due to a vulnerability in its Router2 contract, which was designed to manage logic for token swaps. The stolen ETH was transferred to cross-chain exchange platform Railgun to obscure their origin. The issue has been addressed, but token access in liquidity pools on certain DEXs, including SushiSwap, ShibaSwap, and ETH PancakeSwap, will remain temporarily inaccessible.

Portfolio Pulse from Khyathi Dalal

October 25, 2023 | 9:07 pm

IEX

IDEX Corporation (NYSE:IEX) has announced the appointment of Abhi Khandelwal as Senior Vice President and Chief Financial Officer, effective from November 20, 2023. Khandelwal, who previously served in various financial roles at IDEX from 2010 to 2020, is rejoining the company after serving as CFO of Multi-Color Corporation. Allison Lausas, the interim CFO, will continue as Vice President and Chief Accounting Officer.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 8:49 pm

EDR

Endeavor Group Holdings Inc (NYSE:EDR) announced a review of strategic alternatives to maximize shareholder value, causing its shares to rise in after-hours trading. The company did not provide a timeline for the review process and stated it will not consider selling its interest in TKO Group Holdings, Inc.

Portfolio Pulse from Adam Eckert

October 25, 2023 | 8:41 pm

BLK

Monique Le, a key figure at BlackRock (NYSE:BLK), will be a panelist at Benzinga's Fintech Deal Day & Awards event. She has been with BlackRock since 2009 and currently manages strategic partnerships and digital investment platforms. Recently, BlackRock launched target-date ETFs aimed at self-directed retirement savers. The company manages over $3 trillion in assets under management in ETFs globally.

Portfolio Pulse from Khyathi Dalal

October 25, 2023 | 8:07 pm

EDR

Endeavor is reviewing strategic alternatives but has stated it will not consider the sale or disposition of its interest in TKO Group Holdings, Inc.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 8:02 pm

GS

A significant investor has taken a bearish stance on Goldman Sachs Gr (NYSE:GS), with 90% of recent trades being bearish. The price target for Goldman Sachs Gr over the last 3 months has been between $260.0 to $370.0. The current price of GS is down -0.69% at $297.11. JMP Securities and Oppenheimer have maintained their Outperform rating on Goldman Sachs Gr, with price targets of $440 and $447-$450 respectively. Morgan Stanley has maintained their Equal-Weight rating with a price target of $329.

Portfolio Pulse from Benzinga Insights

October 25, 2023 | 7:46 pm