Streetbeat News

Assets

ISRA

IZRL

KSA

USO

The escalating conflict between Israel and Hamas is causing a surge in crude oil prices, with WTI crude oil trading near $85 per barrel. Goldman Sachs predicts that the conflict could disrupt factors that might have eased the tight supply condition in the oil market. The firm anticipates that Saudi Arabia will gradually scale back the extra 1mb/d production cut by the first quarter of 2025, which could further boost crude oil prices. The conflict is also expected to impact projections for Iranian oil production. ETFs that could be affected by the conflict include United States Oil Fund (USO), iShares MSCI Saudi Arabia ETF (KSA), VanEck Israel ETF (ISRA), and ARK Israel Innovative Technology ETF (IZRL).

Portfolio Pulse from Piero Cingari

October 09, 2023 | 12:56 pm

AER

AerCap Holdings NV (AER) reported Q3 FY23 transactions and financial developments. The company signed 134 lease agreements, purchased 33 airlines, and completed 52 sale deals. It also repurchased about 20 million shares worth $1.2 billion and carried out financing transactions worth $3.9 billion. In Q2 FY23, the company reported a 10% YoY total lease revenue growth to $1.72 billion, missing the analyst consensus of $1.82 billion. Adjusted EPS of $2.56 beat the analyst consensus of $2.06.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 12:55 pm

AAPL

BABA

China plans to increase its computing power by over a third by 2025, aiming for more than 300 exaflops, up from 220 this year. This initiative is part of Beijing's strategy to enhance its technological self-reliance amidst U.S. sanctions. The plan includes constructing 20 new smart computing centers within two years and expanding optical networks and advanced data storage by 2025. Alibaba Group Holding Limited (NYSE: BABA) and Apple Inc (NASDAQ: AAPL) are mentioned in the context of this development.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 12:52 pm

AMTX

Aemetis Biogas, a subsidiary of Aemetis Inc., has received $53 million from the sale of Investment Tax Credits (ITC).

Portfolio Pulse from Bill Haddad

October 09, 2023 | 12:21 pm

EIS

PBR

SPY

USO

The CEO of Brazil's Petrobras has stated that the conflict in Israel is likely to lead to higher oil price volatility and speculation, according to Reuters.

Portfolio Pulse from Charles Gross

October 09, 2023 | 12:13 pm

BLD

EME

FLR

PWR

RIVN

STRL

Mentions of 're-shoring', 'near-shoring', and 'on-shoring' have increased by 216% YoY since the start of 2022, indicating a trend of relocating manufacturing back to home countries. This has led to $516 billion in private company investments since President Joe Biden's inauguration. Companies like Sterling Infrastructure, Quanta Services Inc., TopBuild Corp., Emcor Group Inc., and Fluor Corp. have seen substantial rallies. International firms like Hyundai Motor Co. and Rivian Automotive Inc. are also bolstering U.S.-based manufacturing.

Portfolio Pulse from Benzinga Neuro

October 09, 2023 | 12:02 pm

USO

Kuwait plans to reach 4 million barrels per day (B/D) oil capacity by 2035, according to a conference video cited by Reuters. The United States Oil Fund (USO) may be impacted by this news.

Portfolio Pulse from Charles Gross

October 09, 2023 | 11:20 am

AER

Aercap has repurchased approximately 20 million shares and leased, purchased, and sold 219 assets in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 11:17 am

BTCUSD

DOGEUSD

ETHUSD

Former President Donald Trump's sale of non-fungible tokens (NFTs) has been criticized by his niece, Mary Trump, who called it a scam. Instead, she suggested investing in major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. If one had invested $100 in each of these cryptocurrencies on January 20, 2021, the total investment would now be worth approximately $357.21.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 11:11 am

VTS

Vitesse Energy has released early estimates for 2024, indicating a production range of 12,500 to 13,500 barrels of oil equivalent (Boe) per day. The company also expects capital spending, including NTD acquisitions, to be between $90M and $110M.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 11:10 am