Streetbeat News

Assets

SPY

The Manufacturing Production for September has increased by 0.4%, surpassing the estimated 0.1%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:20 pm

SPY

The Capacity Utilization Rate for September was reported at 79.7%, slightly above the estimated 79.6%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:20 pm

SPY

USA Industrial Production for September has been reported at 0.10%, lower than the prior figure of 0.25%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:19 pm

SPY

USA Industrial Production for September increased by 0.3%, beating the estimated 0.1% and the prior 0.0%.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:19 pm

FEZ

GLD

UUP

The Israel-Hamas conflict continues to escalate, with President Biden set to visit Israel and Jordan to address the humanitarian crisis and stand in solidarity against Hamas. German Chancellor Olaf Scholz and French President Emmanuel Macron are also expected to visit Israel. Meanwhile, investor risk sentiment has faltered, with the U.S. dollar index and gold prices rising, and equity indices across Europe falling. The Invesco DB USD Index Bullish Fund ETF (UUP), SPDR Gold Trust ETF (GLD), and SPDR DJ Euro Stoxx ETF (FEZ) are directly mentioned.

Portfolio Pulse from Piero Cingari

October 17, 2023 | 1:17 pm

BAC

Bank of America's CFO has stated that the bank's exposure to commercial real estate represents 7% of its total loan portfolio.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:07 pm

ALL

Activist hedge fund Trian Fund Management, led by Nelson Peltz, has taken a substantial stake in Allstate Corp (NYSE:ALL), a company struggling with losses due to natural disasters. This move puts additional pressure on Allstate's CEO, Tom Wilson. In response, Allstate has sought the guidance of investment bankers. The specifics of Trian's stake and intentions remain undisclosed. Allstate shares are trading lower by 3.68% at $120.32 premarket.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 1:00 pm

APO

BN

BNRE

Brookfield Corporation (BN) and its affiliate Brookfield Reinsurance Ltd (BNRE) are considering entering the UK's pension insurance sector, specifically the bulk annuities segment. Potential acquisition targets could include companies like Just Group and Pension. This move aligns with a broader trend in the financial industry, with entities like Brookfield and Apollo Global Management (APO) increasingly entering the life insurance and annuities sector. The UK presents a significant investment opportunity for Brookfield, with approximately £1.3 trillion in defined benefit pension schemes in the private sector.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 12:54 pm

MIGI

Mawson Infrastructure Group Inc. (NASDAQ:MIGI) has released its unaudited business and operational update for September 2023. The company reported a growth in self-mining Bitcoin production to 89 BTC, an increase in the number of self-miners hashing to approximately 16,730, and a 17% M/M increase in Energy Market Program Monthly Revenue. However, self-mining monthly revenue reduced by 4% to $2.33M due to increased network difficulty rate and lower average Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 12:53 pm

GLCNF

MRO

Marathon Oil Corp (MRO) has signed a five-year deal with Glencore PLC (GLCNF) to sell a portion of its natural gas produced from the Alba Field in Equatorial Guinea. The deal, which is effective from January 1, 2024, is linked to the Dutch Title Transfer Facility (TTF) index, less a fixed transportation fee. This offers Marathon Oil significant exposure to the European LNG market. MRO also plans to optimize its Equatorial Guinea integrated gas operations in 2024 by redirecting a portion of Alba Unit natural gas from the local methanol facility to the LNG facility.

Portfolio Pulse from Lekha Gupta

October 17, 2023 | 12:52 pm