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Bitcoin's price spiked on false rumors of an ETF approval by BlackRock. Albemarle Corporation withdrew its offer to acquire Liontown Resources. Pfizer cut its annual revenue guidance by $9B due to a slump in COVID-19 vaccine sales, and BioNTech warned of €900M write-offs. Rite Aid filed for Chapter 11 bankruptcy. AstraZeneca's Tagrisso-Chemo combo is under FDA priority review. Honeywell projects a 10% increase in new business jet deliveries in 2024. WeWork appointed David Tolley as CEO. Novavax faces a setback as the EMA delays a decision on its COVID-19 vaccine. Activist shareholder Starboard Value acquired a stake in News Corp. Goldman Sachs is reconsidering its consumer lending venture. Manchester United shares fell as the Qatari group pulled away from acquisition. Apple is reshuffling its executive ranks and focusing on reducing the price of Vision Pro. Walgreens and CVS pharmacy staff are planning a nationwide walkout over poor working conditions.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 2:35 pm

SPY

VGK

U.S. Treasury Secretary Yellen stated that decoupling from China is not an option for the U.S. or EU. The White House is also preparing a supplemental request for aid to Ukraine and Israel.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:30 pm

PWR

Quanta Services (NYSE:PWR) has outperformed the market over the past 15 years, producing an average annual return of 14.85%. If an investor had bought $100 of PWR stock 15 years ago, it would be worth $781.92 today.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 2:30 pm

DHR

Over the past 10 years, Danaher (NYSE:DHR) has outperformed the market by 6.24% on an annualized basis, producing an average annual return of 15.75%. If an investor had bought $1000 of DHR stock 10 years ago, it would be worth $4,335.70 today. Danaher currently has a market capitalization of $154.70 billion.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 2:30 pm

BLK

Bitcoin spiked on unverified reports of the approval of an iShares Bitcoin ETF, which BlackRock, the owner of iShares, has denied. The company's Bitcoin ETF application is still under review. Bitcoin had spiked by as much as 9.5% after the report but gave back gains. It is up 3.3% at $28,062 at the time of publication.

Portfolio Pulse from Mohit Manghnani

October 16, 2023 | 2:08 pm

OSTK

JAT Capital Management LP has reported a 9.1% stake in Overstock.com, according to a 13D filing. The firm believes that Overstock.com securities were undervalued when purchased and represent an attractive long-term investment opportunity.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:05 pm

BTCUSD

Bitcoin's price has slightly increased but is coming down from its highs due to false rumors about the approval of the iShares Bitcoin Spot ETF.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:02 pm

LMT

Over the past 20 years, Lockheed Martin (NYSE:LMT) has outperformed the market by 4.5% on an annualized basis, producing an average annual return of 11.93%. If an investor had bought $100 of LMT stock 20 years ago, it would be worth $961.25 today. The company currently has a market capitalization of $109.65 billion.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 2:00 pm

LOW

Over the past 10 years, Lowe's Companies (NYSE:LOW) has outperformed the market by 5.65% on an annualized basis, producing an average annual return of 15.12%. If an investor had bought $100 of LOW stock 10 years ago, it would be worth $410.28 today. The company currently has a market capitalization of $113.70 billion.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 2:00 pm

BTCUSD

The U.S. Securities and Exchange Commission (SEC) has not approved the iShares Bitcoin Spot ETF as previously reported. The application is still under review, according to Fox Business Reporter.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:53 pm