Streetbeat News

Assets

NTES

NetEase (NASDAQ:NTES) has outperformed the market over the past 10 years, producing an average annual return of 21.9%. If an investor had bought $100 of NTES stock 10 years ago, it would be worth $705.23 today.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 2:00 pm

SPY

USA existing home sales for September were reported at 3.96 million, beating the estimated 3.89 million and slightly below the prior figure of 4.04 million.

Portfolio Pulse from Happy Mohamed

October 19, 2023 | 2:00 pm

ARKK

NVDA

Cathie Wood's ARK Invest, which manages nearly $60 billion in assets, avoided participating in the IPO of British chipmaker Arm Holdings due to concerns about overemphasis on AI and high valuation. Arm's stock has since declined about 20% from its all-time high. ARK Invest's flagship fund, Ark Innovation ETF (ARKK), has seen a 25% surge this year, driven by holdings in companies like Tesla, Shopify, and Coinbase. Wood recently purchased Rize ETF, a British thematic ETF provider, marking ARK Invest's entry into the European passive investment market.

Portfolio Pulse from Aditi Ganguly

October 19, 2023 | 1:35 pm

APEUSD

BSVUSD

BTCUSD

ETHUSD

Bitcoin (BTC) traded above $28,400 while Ethereum (ETH) fell below $1,600 after U.S. jobless claims data showed a decline. Bitcoin SV (BSV) was the top gainer over the past 24 hours, while ApeCoin (APE) was the biggest loser. The global crypto market cap fell to $1.08 trillion, a 24-hour decline of 0.5%.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 1:30 pm

EIS

GLD

The ongoing Israel-Hamas conflict has led to geopolitical chaos in the Middle East. Egypt has approved aid convoys to Gaza, and the European Union has welcomed Israel's commitment to allow some humanitarian aid. The Biden administration is considering a $10 billion support package for Israel. The Israeli shekel and the Israeli stock market (TA-125 index) have declined, while gold has appreciated. The U.S. dollar weakened, and oil prices fell.

Portfolio Pulse from Piero Cingari

October 19, 2023 | 1:28 pm

CRLBF

Cresco Labs Inc. has closed the sale of its sole licensed Arizona operation to an affiliate of Mint Cannabis for $6.5 million in cash. The company has also closed on a conventional mortgage on its Ellenville, NY properties for a principal amount of up to $25.3 million with an interest rate of 8.43%. The moves are part of Cresco's strategy to strengthen its operations and increase profitability by focusing on core markets, stores, brands, and products.

Portfolio Pulse from Nina Zdinjak

October 19, 2023 | 1:25 pm

OWL

European private equity firm CVC Capital Partners, with €161 billion under management, is planning to go public in Amsterdam. The firm aims to create an entity that will sell shares to the public, allowing investors to partake in management fees and carried interest. This move will enable existing shareholders, including Singapore's GIC, the Kuwait Investment Authority, the Hong Kong Monetary Authority, and US asset manager Blue Owl Capital, to reduce their holdings. The IPO timing remains uncertain due to geopolitical factors.

Portfolio Pulse from Vandana Singh

October 19, 2023 | 1:25 pm

MSFT

NVDA

British chipmaker Graphcore, once touted as a promising rival to Nvidia in the AI chip market, is facing financial difficulties. The company's revenue dropped significantly last year, leading to an 11% increase in pretax loss to $204.6 million and a 46% decrease in revenue to $2.7 million. A major setback was Microsoft's decision not to integrate Graphcore's chips into its cloud computing platform. Graphcore is now seeking additional funding and restructuring its operations to meet its short- and medium-term obligations.

Portfolio Pulse from Aditi Ganguly

October 19, 2023 | 1:24 pm

COIN

Coinbase (NASDAQ:COIN) has identified Ireland as its principal center for EU operations and regulatory affairs. The company has forwarded its licensing application to the Central Bank of Ireland in preparation for the upcoming enactment of the European Union’s Markets in Crypto-Assets (MiCA) regulation. The approval of the MiCA license in Ireland would enable Coinbase to extend its services across various EU nations including Germany, France, Italy, and the Netherlands.

Portfolio Pulse from Murtuza Merchant

October 19, 2023 | 1:16 pm

AAL

American Airlines has signed an agreement with Alaska Airlines to purchase 10 Airbus A321neo aircraft, which are expected to join the fleet in Q4 of this year and Q1 of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 1:07 pm