Streetbeat News

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BIL

LQD

SGOV

Salman Ahmed, the global head of macro and strategic asset allocation at Fidelity International, warns of a potential recession in 2024 due to a wave of corporate debt refinancing. He suggests that the Federal Reserve's tightening of monetary policy and higher real interest rates could lead to an economic downturn. In anticipation, Fidelity International has adjusted its cash weighting and shifted to overweight. Cash-like ETFs such as SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) and iShares 0-3 Month Treasury Bond ETF (SGOV) saw a sharp influx of money in August. The firm also prefers investment-grade credit, as tracked by the iShares iBoxx $ Inv Grade Corporate Bond ETF (LQD), over high-yield credit.

Portfolio Pulse from Piero Cingari

September 01, 2023 | 8:44 pm

SEV

Sono Group N.V. (NASDAQ:SEV) has received a staff determination letter from Nasdaq stating that the company's bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, violating Listing Rule 5450(a)(1). The company was given until September 18, 2023, to regain compliance. The letter also mentioned that the company's common stock has been below $0.10 for the past 12 consecutive trading days, and the resignation of four of five members of the company's supervisory board, both of which serve as additional bases for delisting the company's securities from Nasdaq. The company has requested a hearing to appeal the delisting determination.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:32 pm

HON

Honeywell Intl (NASDAQ:HON) has outperformed the market over the past 20 years, producing an average annual return of 10.06%. If an investor had bought $1000 of HON stock 20 years ago, it would be worth $6,583.11 today. The company currently has a market capitalization of $125.08 billion.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 8:30 pm

YUM

Yum Brands (NYSE:YUM) has outperformed the market over the past 15 years, producing an average annual return of 10.78%. If an investor had bought $100 of YUM stock 15 years ago, it would be worth $488.75 today. The company currently has a market capitalization of $36.33 billion.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 8:30 pm

GOOGL

A significant bearish stance on Alphabet (NASDAQ:GOOGL) has been observed through unusual options activity. The sentiment among these big-money traders is split between 44% bullish and 55% bearish. The whales have been targeting a price range from $40.0 to $210.0 for Alphabet over the last 3 months. The price of GOOGL is currently down -0.37% at $135.66. Several experts have downgraded their actions on Alphabet with varying price targets.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 8:18 pm

NEE

A significant bearish stance has been taken on NextEra Energy (NYSE:NEE) by a large investor, as observed from publicly available options history. The overall sentiment of these big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $50.0 to $77.5 for NextEra Energy over the last 3 months. Morgan Stanley and JP Morgan have maintained their Overweight rating on NextEra Energy, with price targets of $90 and $80 respectively.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 8:18 pm

AMZN

A significant bearish stance on Amazon.com (NASDAQ:AMZN) has been observed through unusual options activity. The sentiment among these big-money traders is split between 40% bullish and 59% bearish. The whales have been targeting a price range from $70.0 to $200.0 for Amazon.com over the last 3 months. Current price of AMZN is $138.12. JP Morgan, Needham, and Barclays maintain positive ratings on Amazon, while Exane BNP Paribas and Wedbush have neutral ratings.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 8:18 pm

AAVEUSD

BCHUSD

CFXUSD

COMPUSD

GBTC

IMXUSD

STXUSD

Whale activity in the cryptocurrency market has significantly increased, leading to increased volatility and a surge in the value of several altcoins. Coins such as AAVE, COMP, IMX, and YGG have seen a remarkable surge in their values following Grayscale's recent legal triumph. Other altcoins like Bitcoin Cash, XDC Network, Stacks, and Conflux have also experienced a price surge. This price momentum reflects an influx of approximately $50 billion into the crypto domain, pushing the total capitalization of the cryptocurrency market to $1.11 trillion.

Portfolio Pulse from Murtuza Merchant

September 01, 2023 | 8:13 pm

CIFR

Cipher Mining Inc. (NASDAQ:CIFR) released its unaudited production and operations update for August 2023. The company produced ~357 BTC in August, a ~15% decrease MoM, and sold ~355 BTC, ending the month with a balance of ~519 BTC. Cipher continued to expand operations at its Odessa facility and expects to energize all rigs in early September, bringing the total self-mining hash rate to 7.2 EH/s. The company also added a $10mm term credit facility with Coinbase to its treasury management platform.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:08 pm

FCPT

Four Corners Property Trust (NYSE:FCPT) has announced the sale of a Red Lobster property for $5.9 million. The property is located in Minnesota and is corporate-operated under a triple net lease. The company plans to reinvest the proceeds into new investment opportunities. FCPT anticipates using a 1031-Exchange, which allows for the deferral of capital gains taxes, but if it fails to identify and acquire replacement properties within specified timeframes, it will have to pay taxes on any gain from the sale.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:06 pm