Streetbeat News

Assets

COIN

The Securities and Exchange Commission (SEC) has stated that investors reasonably expected the value of their investments to increase based on issuers' plans to develop and maintain their assets' value, including on the secondary market.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 8:25 pm

COIN

The Securities and Exchange Commission (SEC) has stated that Coinbase, a cryptocurrency exchange platform, has not provided any legal support from federal securities laws or relevant case law to back its claim that the digital transactions it handled were not securities.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 8:24 pm

BAC

PLD

SPY

UPST

As Treasury yields rise, stocks are taking a hit, with the SPDR S&P 500 Trust (NYSE:SPY) trading down more than 1.5%. However, if the Federal Reserve starts cutting interest rates, certain stocks and industries could benefit. These include REITs like Prologis Inc (NYSE:PLD), VICI Properties Inc (NYSE:VICI), Simon Property Group Inc (NYSE:SPG) and Crown Castle Inc (NYSE:CCI), banks like Bank of America Corp (NYSE:BAC), Western Alliance Bancorporation (NYSE:WAL), and JPMorgan Chase & Co (NYSE:JPM), and tech/growth stocks like Upstart Holdings Inc (NASDAQ:UPST), Asana Inc (NASDAQ:ASAN), Shopify Inc (NASDAQ:SHOP) and SoFi Technologies Inc (NASDAQ:SOFI).

Portfolio Pulse from Aaron Bry

October 03, 2023 | 8:17 pm

KZR

Kezar Life Sciences is restructuring to prioritize its clinical-stage assets and extend capital for its PALIZADE Phase 2b trial in Lupus Nephritis. The company will reduce its workforce by 41% and pause all research and drug discovery activities.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 8:12 pm

UNG

USO

The government of Niger has banned the export of liquefied petroleum gas (LPG) until further notice, according to Reuters. This decision could potentially impact the global supply of LPG.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 8:10 pm

BA

UAL

United Airlines has placed an order for 110 new aircraft, with deliveries starting in 2028. The order includes 50 Boeing 787-9 and 60 A321neo aircraft. United has also secured options for up to 50 more Boeing 787s and purchase rights for up to 40 A321neos at the end of the decade.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 8:01 pm

UPS

Unusual options activity has been observed for United Parcel Service (NYSE:UPS), with a large position indicating a bullish stance. The options scanner at Benzinga spotted 13 options trades for UPS, with sentiment split between 53% bullish and 46% bearish. Whales have been targeting a price range from $125.0 to $180.0 for UPS over the last 3 months. The price of UPS is currently down -0.05% at $155.0. Several financial institutions have maintained their ratings on UPS, with price targets ranging from $160 to $200.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 8:01 pm

ADBE

Adobe (NASDAQ:ADBE) has outperformed the market over the past 10 years by 16.35% on an annualized basis, producing an average annual return of 26.14%. If an investor had bought $100 of ADBE stock 10 years ago, it would be worth $995.31 today.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 8:00 pm

ECL

Ecolab (NYSE:ECL) has outperformed the market over the past 20 years, producing an average annual return of 9.53%. If an investor had bought $100 of ECL stock 20 years ago, it would be worth $620.89 today. The company currently has a market capitalization of $47.57 billion.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 8:00 pm

FTTUSD

HOOD

Sam Bankman-Fried, former cryptocurrency magnate, has sued his insurer, Continental Casualty Company (CNA), for not covering his legal expenses related to his fraud defense. The lawsuit highlights his involvement in multiple legal and regulatory proceedings due to the downfall of his crypto platform, FTX (CRYPTO: FTT). Bankman-Fried has been incurring escalating legal expenses since the bankruptcy declaration of FTX in late 2022. He had indicated his openness to part with Robinhood (NASDAQ:HOOD) shares valued at approximately $500 million in exchange for access to FTX's D&O insurance coverage.

Portfolio Pulse from Murtuza Merchant

October 03, 2023 | 7:53 pm