Streetbeat News

Assets

BLK

KKR

BlackRock Inc. (BLK) and KKR & Co. (KKR) are reportedly close to selling their stake in an oil pipeline owned by Abu Dhabi National Oil Co. (ADNOC) to ADQ, a state-owned holding company in the United Arab Emirates. The deal is expected to be announced soon.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 3:14 pm

FTCH

An option alert has been issued for Farfetch (FTCH) for January 19 $10 calls. A total of 691 options were bought near the ask price of $0.43, compared to an open interest of 9356. Farfetch is expected to announce its earnings on August 24 after market close. The reference price is $6.37.

Portfolio Pulse from Charles Gross

July 12, 2023 | 3:14 pm

SQQQ

ProShares UltraPro Short QQQ ETF (SQQQ) shares are trading lower by 3.97% due to softer-than-expected inflation data for June. The ETF, which inversely tracks the Nasdaq-100, is primarily used for short-term trading and market timing strategies. The lower inflation data has reinforced investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:08 pm

AAPL

Apple Inc's shares are trading higher amid overall market strength following a lighter-than-expected June inflation report. Lower inflation corresponds to reduced costs for inputs such as raw materials, components, and manufacturing expenses, which can help Apple control its production costs, enhance profit margins or potentially invest the savings in research and development or other growth initiatives. Lower inflation also helps preserve consumer purchasing power, potentially leading to increased demand for Apple's products.

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:07 pm

QQQ

TQQQ

ProShares UltraPro QQQ (TQQQ) shares hit a new 52-week high, trading higher by 3.82% to $42.02. This follows the release of June CPI data showing softer-than-expected inflation, reinforcing investor expectations of a single rate hike by the Federal Reserve. TQQQ seeks daily investment results that correspond to three times the daily performance of the Nasdaq-100 (QQQ).

Portfolio Pulse from Henry Khederian

July 12, 2023 | 3:03 pm

OPUSD

Optimism's (CRYPTO: OP) price has risen 4.44% to $1.27 in the past 24 hours, continuing its positive trend over the past week with a 3.0% gain. The trading volume for the coin has decreased 27.0% over the past week, while the overall circulating supply of the coin has decreased 0.35% to over 644.59 million. The current market cap ranking for OP is #50 at $810.80 million.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 3:01 pm

TRI

Thomson Reuters (NYSE:TRI) has outperformed the market over the past 5 years, producing an average annual return of 21.96%. If an investor had bought $100 of TRI stock 5 years ago, it would be worth $269.84 today.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 3:00 pm

NEARUSD

NEAR Protocol's (CRYPTO: NEAR) price rose 3.04% to $1.36 over the past 24 hours, continuing its positive trend over the past week with a 1.0% gain. The coin's all-time high is $20.44. The trading volume for the coin has fallen 28.0% over the past week, while the overall circulating supply of the coin has increased 0.2% to 931.29 million. The current market cap ranking for NEAR is #40 at $1.27 billion.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 3:00 pm

BAC

A large investor has taken a bearish stance on Bank of America (NYSE:BAC), as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 38% bullish and 61% bearish. The whales have been targeting a price range from $25.0 to $32.0 for Bank of America over the last 3 months. RBC Capital downgraded its action to Outperform with a price target of $35, while Morgan Stanley and Citigroup maintained their ratings with price targets of $33 and $31 respectively.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 2:50 pm

SPCE

An option alert has been issued for Virgin Galactic Holdings (SPCE) for January 19 $6 calls at the ask price of $0.68. This is against an open interest of 10,578. The company is expected to release its earnings on August 3 after market close. The reference price is $3.87.

Portfolio Pulse from Charles Gross

July 12, 2023 | 2:48 pm