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XRPUSD

Ripple, a leading enterprise blockchain and crypto solutions company, has announced its acquisition of Fortress Trust, a subsidiary of Fortress Blockchain Technologies. Fortress Trust provides licensed Web3 financial, regulatory, and technology infrastructure for blockchain innovators. This acquisition follows Ripple's recent purchase of crypto custody provider Metaco for $250M. The acquisition of Fortress Trust expands Ripple's portfolio of regulatory licenses, as Fortress Trust holds a Nevada Trust license. Ripple plans to invest in parent company, Fortress Blockchain Technologies and its FortressPay services after the deal closure.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 3:07 pm

CVX

DVN

EQT

LNG

SWM

Strikes at Chevron Corp.'s Australian Liquefied Natural Gas (LNG) export facilities have disrupted 7% of the global LNG supply, causing a surge in natural gas prices. The strikes come after failed negotiations with unions. The facilities primarily serve Asia, and prolonged strikes could further disrupt operations and affect prices worldwide. Natural gas prices have already risen, with the European Dutch TFF benchmark surging over 10% and the Henry Hub natural gas price in the US rising 2%. Shares of major US natural gas exporting companies, including Cheniere Energy Inc., Antero Resources, Devon Energy Corp., EQT Corp., and Southwestern Energy Co., have also seen increases.

Portfolio Pulse from Piero Cingari

September 08, 2023 | 3:02 pm

AAPL

CVX

GOOG

HOFT

ILMN

LLY

PVH

SPOT

STLA

TWTR

Elon Musk's acquisition of Twitter (now X) has reportedly lost 90% of its value. General Motors' wage offer has been branded as 'insulting' by UAW President Shawn Fain. Stellantis has opened its first Battery Technology Center in Italy. Kroger and Albertsons have agreed to sell select assets to C&S Wholesale Grocers for $1.9 billion. Kroger also reported a Q2 sales decline and reached a settlement for opioid claims. UK's NICE has endorsed Eli Lilly's diabetes medication, Mounjaro. Hooker Furnishings reported a Q2 sales decline. PVH Corp's subsidiary, Calvin Klein, has signed a licensing deal with Revman. Apple has responded to the discovery of zero-day exploits. Workers at Chevron's LNG projects in Australia have gone on strike. Zoom has engaged with regulators over Microsoft's perceived anticompetitive behavior. Google has cut ties with Joshua Wright over sexual harassment allegations. Goldman Sachs is preparing for another round of job cuts. Spotify plans to offer free audiobooks to its paying subscribers. Carl Icahn has shown support for Illumina's new CEO.

Portfolio Pulse from Vandana Singh

September 08, 2023 | 2:32 pm

BAC

A large investor has taken a bullish stance on Bank of America (NYSE:BAC), with Benzinga's options scanner spotting 10 uncommon options trades. The sentiment of these big-money traders is split 50% bullish and 50% bearish. Whales have been targeting a price range from $28.0 to $40.0 for Bank of America over the last 3 months. Wells Fargo, HSBC, and Oppenheimer have maintained their Overweight, Buy, and Outperform ratings on Bank of America respectively, with price targets of $40, $35, and $49.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:16 pm

A significant amount of bearish options activity has been detected for Citigroup (NYSE:C), with 92% of investors opening trades with bearish expectations. The total amount for puts is $725,759 and for calls is $210,823. Whales have been targeting a price range from $40.0 to $60.0 for Citigroup over the last 3 months. The current price of Citigroup is down -0.56% at $40.5. Wells Fargo, HSBC, and Oppenheimer have maintained their ratings on Citigroup with price targets of $55, $43, and $85 respectively.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:01 pm

BTCUSD

ETHUSD

SNXUSD

Bitcoin and Ethereum traded higher but remained below key levels of $26,000 and $1,700 respectively. XDC Network was the top gainer over the past 24 hours, while Synthetix was the biggest loser. The global crypto market cap rose to $1.04 trillion, recording a 24-hour gain of 0.5%.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 2:01 pm

SPY

USA Wholesale Inventories for July decreased by 0.2%, which is more than the estimated decrease of 0.1% and also more than the prior decrease of 0.5%.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 2:00 pm

BTCUSD

DOGEUSD

ETHUSD

MATICUSD

SHIBUSD

The cryptocurrency market is poised for a significant shift, according to analytics firm Glassnode. Bitcoin's stagnation around the $25,800 mark suggests a potential breakout. The market's ongoing search for direction might be due to the anticipation surrounding the approval of a Spot Bitcoin ETF. Major cryptocurrencies Ethereum, Shiba Inu, Dogecoin, and Polygon are trading nearly flat.

Portfolio Pulse from Murtuza Merchant

September 08, 2023 | 1:51 pm

MPC

Marathon Petroleum Corporation's (MPC) Galveston Bay, Texas, Fluid Catalytic Cracking (FCC) unit remains shut following a fire. The U.S. Occupational Safety and Health Administration (OSHA) is set to begin an investigation into the incident.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 1:50 pm

COIN

Coinbase Ventures, the investment arm of Coinbase (NASDAQ:COIN), has announced an initial round of investments into six projects from the Base Ecosystem Fund. The projects include Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation. The investment amounts remain undisclosed. This move marks Coinbase Ventures' interest in promoting economic freedom and innovation, and expanding the reach of decentralized technologies. Additionally, Coinbase launched a new cryptocurrency lending service for U.S. institutional investors, which received a significant $57 million investment from institutions.

Portfolio Pulse from Khyathi Dalal

September 08, 2023 | 1:48 pm