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BTCUSD

Arthur Hayes, BitMEX founder, predicts a potential 20-30% correction in Bitcoin's price by early March 2024 due to economic indicators and market trends. He cites the declining Reverse Repo Program balance, the expiration of the Bank Term Funding Program, and the Federal Reserve's interest rate decision as key factors. Despite this, he also sees a possibility for Bitcoin's price to surge above $60,000 driven by U.S.-listed spot Bitcoin ETFs. Hayes plans to short the crypto market with Bitcoin puts in the short term and then buy Bitcoin post-correction.

Portfolio Pulse from Murtuza Merchant

January 05, 2024 | 4:36 pm

MPW

Medical Properties Trust Inc (NYSE:MPW) stock plummeted approximately 15% after revealing plans to reduce exposure to Steward Health Care System, which has delayed rent payments. Steward owes about $50 million in unpaid rent, excluding $50 million deferred for Norwood Hospital. MPW is providing a $60 million bridge loan to Steward, secured by collateral and second liens on Steward's managed care business. MPW also agreed to defer unpaid rent and expects partial rent payments to resume in Q1 and Q2 2024. However, MPW anticipates a non-cash charge in Q4 2023 due to uncollectible rent receivables, which may total around $350 million. MPW's stock price dropped 20.8% to $3.96 in premarket trading.

Portfolio Pulse from Lekha Gupta

January 05, 2024 | 1:39 pm

FSK

XYF

Four financial stocks with high RSI values, indicating potential overbought conditions, are X Financial (XYF), Tradeweb Markets Inc. (TW), MoneyLion Inc. (ML), and FS KKR Capital Corp. (FSK). XYF reported strong Q3 results with a 16% stock increase over five days. TW's trading volume grew 43.3% YoY, with a 5% stock gain over five days. ML experienced a 48% stock jump over the past month despite downbeat quarterly sales. FSK's stock rose 4% over five days after pricing a public offering of $400 million notes.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 1:12 pm

ALC

LFCR

Lifecore Biomedical has updated its commercial agreements with Alcon, extending and expanding their long-term relationship in hyaluronic acid and CDMO services. The new arrangements span 8 years and include an amendment and waiver for Lifecore's term debt facility with Alcon and BMO.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:07 pm

BABA

NTES

Beijing's court has accepted a bankruptcy liquidation application from Zhongzhi Enterprise Group, a Chinese wealth management firm with significant exposure to the real estate sector. The company, facing insolvency with debts of $64 billion against assets of $27.95 billion, has sparked concerns over the impact on the broader financial sector and global markets. Major U.S.-listed Chinese companies like Alibaba Group Holding Limited and NetEase, Inc. have been affected, with stock tumbles reflecting fears of contagion within China's shadow banking industry.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 12:07 pm

OPK

OPKO Health has priced a private offering of $200M in Convertible Senior Notes due 2029 with a 3.75% annual interest rate, payable semiannually. The notes will mature on January 15, 2029, unless they are purchased or converted earlier.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:34 am

UTEN

Jim Bianco, a top Wall Street analyst, predicts the 10-year Treasury yield will rise to 5.5% by mid-2024, the highest since May 2001. He believes the Fed will adopt a more hawkish approach and sees the economy expanding despite higher interest rates. Bianco suggests the Fed may cut rates up to three times, contrary to market expectations of up to six cuts. He also notes the yield curve has been inverted for 15 months, and normalization could benefit banks. The US Treasury 10 Year Note ETF (UTEN) has rallied 8% since 2023's lows.

Portfolio Pulse from Piero Cingari

January 04, 2024 | 11:09 pm

AER

AerCap Holdings has announced the pricing of $1.5 billion of senior notes. The subsidiaries of AerCap plan to use the proceeds for general corporate purposes such as acquiring, investing in, financing or refinancing aircraft assets, and repaying debt.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:58 pm

MPW

Medical Properties Trust (MPT) has announced its intention to expedite the process of recovering uncollected rents and outstanding loan obligations from Steward Health Care. MPT is focusing on addressing the financial issues related to Steward's delayed payments.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:51 pm

ALLY

AMZN

AXP

COF

MSFT

NKE

VCR

Online spending during the 2023 holiday season reached a record $222.1 billion, up 4.9% from the previous year, driven by deep discounts and 'buy now, pay later' deals. The Vanguard Consumer Discretionary ETF (VCR) saw a 22.8% gain during this period but has since dropped 3.5% in early 2024. Electronics, apparel, and furniture were top categories, with Microsoft's Xbox and sports apparel like sneakers being popular items. 'Buy now, pay later' contributed $16.6 billion in holiday spend, but credit card delinquencies are rising, with Goldman Sachs predicting normalization by 2025. American Express, Capital One, and Ally Financial were highlighted as top picks in the consumer finance sector.

Portfolio Pulse from Neil Dennis

January 04, 2024 | 5:29 pm