Streetbeat News

Assets

SPY

A Bank of America study reveals that wealthy young Americans are shifting their investments from traditional U.S. stocks to real estate, crypto, and alternative assets like watches and rare automobiles. This generational shift could impact the market dynamics significantly.

Portfolio Pulse from Chris Katje

June 20, 2024 | 7:31 pm

BTCUSD

COIN

The German government has sold $195 million in Bitcoin, with $3 billion remaining. The sales have been made through major exchanges like Coinbase, Kraken, and Bitstamp. Experts warn that this aggressive liquidation could harm Germany's long-term financial strategy and position in the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

June 20, 2024 | 6:19 pm

MBC

MasterBrand has priced a $700 million senior notes offering at 7.00% due in 2032, with settlement expected around June 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 5:58 pm

CRON

Cronos Group Inc. (NASDAQ:CRON) announced a $51 million investment in its joint venture, Cronos Growing Company, to expand its cannabis cultivation facility in Ontario. The investment will be funded through a secured non-revolving credit facility. Cronos will have significant purchasing options and board representation in GrowCo.

Portfolio Pulse from Jelena Martinovic

June 20, 2024 | 5:04 pm

HTZ

Hertz Global Holdings, Inc. (NASDAQ:HTZ) shares fell after the company announced a $750 million debt offering to strengthen its financial position and support future profitability. The offering includes $500 million in First Lien Senior Secured Notes and $250 million in Exchangeable Senior Second-Lien Secured PIK Notes, both due in 2029. The funds will be used to reduce a portion of Hertz's $2.0 billion revolving credit facility.

Portfolio Pulse from Nabaparna Bhattacharya

June 20, 2024 | 4:40 pm

BTCUSD

MSTR

MicroStrategy (NASDAQ:MSTR) has reaffirmed its commitment to Bitcoin by purchasing an additional 11,931 BTC for $786 million. This acquisition was funded through a private offering of convertible senior notes, which raised $800 million. The company now holds over 226,331 bitcoins, valued at more than $14.9 billion.

Portfolio Pulse from Murtuza Merchant

June 20, 2024 | 3:18 pm

USO

The latest report on USA crude oil inventories shows a draw of 2.547 million barrels, which is less than the estimated draw of 2.800 million barrels. This follows a prior build of 3.730 million barrels.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:01 pm

USO

The EIA reported a significant draw in distillate stocks of 2.28 million barrels, much higher than the expected draw of 500,000 barrels. This indicates a tighter supply in the market.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:01 pm

USO

Gasoline inventories saw a draw of 2.28 million barrels, contrary to the expected build of 1.5 million barrels. This unexpected draw could impact the prices of oil-related assets.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 3:00 pm

AEM

Agnico Eagle Mines (NYSE:AEM) has unveiled a new plan to increase gold production at its Detour Lake mine in Ontario. The company aims to boost production to an average of one million ounces per year over a 14-year period starting in 2030. The plan includes developing an underground mine to complement the existing open-pit operations, with a preliminary economic assessment (PEA) proposing an underground mining rate of 11,200 tons per day and a mill expansion to 29 million tons per year by 2028. Agnico Eagle has committed $100 million over the next three years to de-risk the underground project.

Portfolio Pulse from Stjepan Kalinic

June 20, 2024 | 2:15 pm