Streetbeat News

Assets

STT

State Street reported a 4% increase in total fee revenue and a 12% rise in management fees for Q1. Additionally, their Investment Management AUM saw a 20% increase.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:35 am

HES

Hess Corporation (NYSE:HES) has announced the final investment decision to proceed with the Whiptail development in the Stabroek Block, expected to yield 250,000 barrels of oil daily by 2027. The project, valued at $12.7 billion, aims to exploit over 850 million barrels of oil, featuring up to 10 drill centers and 48 wells.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:28 am

BITF

Bitfarms announced it has achieved a mining capacity of 7 EH/s following the upgrade of its fleet at the Garlock and Farnham facilities, with the installation of 3,168 T21s at Garlock and 1,710 T21s plus 100 M53S+ hydro miners at Farnham. Additionally, over 30,000 T21s are expected to be delivered in Q2 2024 to various locations, including a new development in Paso Pe, Paraguay.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:06 am

GLD

UNG

USO

On Thursday, U.S. stock markets ended mostly higher, with the Nasdaq and S&P 500 seeing gains, driven by tech momentum stocks amid cooling inflation signs. U.S. producer prices and initial jobless claims both came in below expectations. Despite a drop in stocks on Wednesday due to higher-than-expected CPI data, technology stocks led gains in the S&P 500. The Dow Jones slightly declined. Asian markets were mixed, with Japan's Nikkei 225 gaining, while markets in Australia, India, China, and Hong Kong fell. European markets and commodities, including gold, silver, and crude oil, traded higher.

Portfolio Pulse from Akanksha Bakshi

April 12, 2024 | 11:03 am

GBTC

IBIT

Net inflows into Bitcoin spot ETFs hit $91.27 million on Thursday, led by BlackRock's iShares Bitcoin Trust (IBIT) with $192 million, contrasting with a $124 million outflow from Grayscale Bitcoin Trust (GBTC). This shift indicates a growing investor preference for ETFs closely reflecting current Bitcoin prices over trusts like GBTC. The trend suggests increasing confidence in Bitcoin's stability and future growth, amid signs of market recovery and institutional adoption of digital assets.

Portfolio Pulse from Murtuza Merchant

April 12, 2024 | 11:00 am

JPM

JP Morgan CEO commented on the unprecedented scale of quantitative tightening, indicating that its full effects have yet to be fully realized in the market.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:54 am

MU

NVDA

SSNLF

Samsung Electronics Co plans to announce a $44 billion investment in a chip plant in Taylor, Texas, with over $6 billion in U.S. government grants. This move is part of the U.S. strategy to boost domestic semiconductor production under the 2022 Chips and Science Act. Samsung's investment aims to enhance its chip technology, aligning with AI industry leaders like NVIDIA Corp and Micron Technology, and follows a collaboration with Arm Holdings for next-gen CPU technology.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 10:49 am

BLK

Blackrock has issued $3 billion in debt to partially fund its planned acquisition of Global Infrastructure Partners. This strategic move aims to bolster Blackrock's position in the infrastructure investment sector.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:01 am

KMX

CarMax Inc (NYSE:KMX) is marketing a $1.25 billion bond sale following a fourth-quarter earnings miss, with potential to increase to $1.6 billion. The sale is organized by Mitsubishi UFJ Financial Group and comes after CarMax shares dropped due to lower-than-expected profits, attributed to vehicle affordability challenges. This move into the ABS market follows a history of CarMax raising funds through ABS offerings, including a $1.55 billion sale in January.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:59 am

BTCUSD

Hong Kong is poised to become a key player in the cryptocurrency ETF market, potentially accelerating Bitcoin's rise to $100,000. Insider sources indicate that spot Bitcoin ETFs may launch in Hong Kong this month, with Chinese asset managers like China Asset Management, Harvest Fund Management, and Bosera Asset Management leading the initiative. The introduction of these ETFs is expected to attract significant global investment, mirroring the success seen in the U.S., where Bitcoin ETFs have amassed $58 billion in assets. This development comes despite China's ban on cryptocurrency trading, highlighting Hong Kong's strategic position to tap into the crypto market through more lenient regulations.

Portfolio Pulse from Ramakrishnan M

April 12, 2024 | 7:33 am