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SEC Chair Gary Gensler has expressed mixed feelings about a court ruling that Ripple Labs's XRP token is not necessarily a security. He was pleased with the part of the decision that classified the token as a security for institutional investors but disappointed about aspects related to retail investors. Gensler also mentioned that the SEC has proposed rule changes that apply to digital assets. In the coming months, the SEC will be handling a series of Bitcoin ETF applications submitted by financial institutions like BlackRock and Fidelity.

Portfolio Pulse from Mehab Qureshi

July 18, 2023 | 6:14 am

EWJ

FXI

Asian markets are mostly declining due to concerns over weak economic growth in China. The Nikkei 225 is up 11%, while the Hang Seng is down 2.01%, Shanghai is down 0.24%, and the Shanghai Shenzhen CSI 300 is down 0.18%. The US Dollar has slipped 0.11% to 99.74 during the Asian session.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 5:26 am

COTY

Coty Inc. has sold a 3.6% stake in Wella to IGF Wealth Management for $150 million. The deal is part of Coty's ongoing efforts to reduce its debt and simplify its business structure.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 4:45 am

ARES

Ares Management is set to acquire Crescent Point Capital, an Asia-focused private equity firm with approximately $3.8 billion of assets under management. The transaction is expected to be immediately accretive to Ares' after-tax realized income per share of Class A and non-voting common stock.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 4:24 am

GOOGL

META

TSLA

Elon Musk's new venture, xAI, aims to become a leading name in artificial intelligence (AI), similar to Tesla's position in the automotive industry. However, there are concerns that it may fail to take off, similar to 'Truth Social'. The xAI team includes veterans from Google and OpenAI, which could potentially help the company succeed.

Portfolio Pulse from Benzinga Neuro

July 18, 2023 | 3:49 am

AHI

BK

Bank of New York Mellon Corporation has increased its stake in Advanced Health Intelligence from 23.75% to 24.89% as of July 14, 2023.

Portfolio Pulse from Charles Gross

July 18, 2023 | 12:15 am

V

Visa (NYSE:V) has outperformed the market over the past 15 years, producing an average annual return of 18.76%. If an investor had bought $100 of V stock 15 years ago, it would be worth $1,357.39 today. The company currently has a market capitalization of $511.01 billion.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 9:30 pm

CB

Over the past 20 years, Chubb (NYSE:CB) has outperformed the market by 1.88% on an annualized basis, producing an average annual return of 9.79%. If an investor had bought $100 of CB stock 20 years ago, it would be worth $645.90 today.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 9:30 pm

BLK

BlackRock has announced that Amin H. Nasser, CEO of Saudi Arabian oil giant Aramco, is joining its board of directors. The move reflects BlackRock's emphasis on the Middle East as part of its long-term strategy. BlackRock managed more than $8 trillion client assets as of 2022.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 9:19 pm

FCX

A significant investor has taken a bullish stance on Freeport-McMoRan (NYSE:FCX), with 64% of recent trades being bullish and 35% bearish. The targeted price range for the company over the last 3 months is $30.0 to $42.0. The current price of FCX is down -1.51% at $40.46. Citigroup, Morgan Stanley, and Bernstein have given neutral to market perform ratings with price targets of $46, $38, and $41 respectively.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 8:46 pm