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PLCE

Children's Place Inc (NASDAQ:PLCE) shares surged after announcing a new $90 million financing agreement with majority shareholder Mithaq Capital SPC. This unsecured, subordinated term loan, expected to be funded by April 19, 2024, aims to improve liquidity and will be used to repay an existing $50 million loan and for general corporate purposes. The loan, maturing on April 16, 2027, features interest at SOFR plus 4.00% per annum, with deferred payments until April 30, 2025. Since February 29, 2024, Children's Place has received $168.6 million in funding from Mithaq.

Portfolio Pulse from Shivani Kumaresan

April 17, 2024 | 2:50 pm

FXI

SPY

U.S. Trade Representative Tai announced the need for 'decisive' action against China's state support for electric vehicles and solar products, indicating potential trade policy shifts.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:46 pm

USDCUSD

U.S. Senators Cynthia Lummis and Kirsten Gillibrand introduced a new stablecoin bill aiming to define the operation of digital tokens within the U.S. financial system. The bill mandates stricter requirements for stablecoin issuers, including maintaining one-to-one dollar reserves and not classifying the asset as a security. It aims to preserve the U.S. dollar's dominance and integrate consumer protections by banning algorithmically managed stablecoins. The legislation sets a $10 billion cap on stablecoin issuance for non-depository trusts, affecting large issuers like Circle, which exceeds this limit with $33 billion in USDC in circulation.

Portfolio Pulse from Murtuza Merchant

April 17, 2024 | 2:40 pm

SPY

UNG

U.S. gasoline inventories experienced a draw of 1.154 million barrels, contrasting with a build of 0.715 million barrels in the prior period. This indicates a decrease in gasoline stocks, which could impact energy market dynamics and related stocks.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:30 pm

NSC

Over the past 20 years, Norfolk Southern (NYSE:NSC) has produced an average annual return of 14.55%, outperforming the market by 6.84% annually. A $1000 investment in NSC 20 years ago would now be worth $14,633.79. The company currently has a market capitalization of $54.52 billion.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 2:30 pm

SPY

UNG

USO

The EIA reported a weekly draw in distillates stocks of 2.760 million barrels, contrasting with a build of 1.659 million barrels in the previous week. This indicates a decrease in distillate fuel inventories, which could impact energy market dynamics and related stock prices.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:30 pm

TXN

Texas Instruments (NASDAQ:TXN) has delivered an average annual return of 16.31% over the past 15 years, outperforming the market by 3.75% annually. A $100 investment in TXN 15 years ago would be worth $947.90 today, showcasing the impact of compounded returns on investment growth. Texas Instruments currently has a market capitalization of $152.23 billion.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 2:30 pm

SPY

USO

U.S. crude oil inventories increased by 2.735 million barrels, exceeding the estimated build of 1.600 million barrels and following a prior build of 5.841 million barrels. This indicates a continued surplus in oil supply.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:30 pm

EWJ

A magnitude 6.22 earthquake has struck Shikoku, Japan, according to Reuters citing GFZ. The impact on the iShares MSCI Japan ETF (EWJ) could be observed depending on the extent of the damage and its effect on Japan's economy.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:23 pm

EWJ

A magnitude 6.4 earthquake occurred in the Bungosuido Strait on April 17, 2024, at 08:19, with a maximum seismic intensity of 6-. The event may impact the iShares MSCI Japan ETF (EWJ) due to potential economic and infrastructural damages in Japan.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:23 pm