Streetbeat News

Equity Actions

ECC

Eagle Point Credit Company has priced an underwritten public offering of 1.4 million shares of its 8.00% Series F Term Preferred Stock due 2029 at $25 per share. The offering is expected to yield net proceeds of approximately $33.6 million after underwriting discounts, commissions, and estimated offering expenses.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:24 am

AMZN

QQQ

SPY

Jeff Bezos, founder of Amazon.com Inc. (NASDAQ:AMZN), celebrates his 60th birthday as the second-richest person in the world. Amazon, which started as an online bookstore, faced challenges during the dot-com bubble but survived and thrived, becoming a global e-commerce and technology giant. The article reflects on the potential returns of a $1000 investment in Amazon stock during the dot-com bubble compared to the present day, highlighting the company's resilience and growth. It also mentions Amazon's current ventures, including a significant investment in AI through Anthropic, and its dominance in cloud services with AWS.

Portfolio Pulse from Ananya Gairola

January 12, 2024 | 6:17 am

ARKK

BLK

FNF

IVZ

ARK Invest CEO Cathie Wood has revised her Bitcoin price projection to $1.5 million by 2030, up from her previous estimate of $1 million. This revision follows the SEC's approval of several spot Bitcoin ETFs, including one from ARK Invest. Wood also revealed that at least 25% of her financial net worth, excluding her firm and real estate, is invested in Bitcoin. BTC was trading at $46,050.65 at the time of the article.

Portfolio Pulse from Mehab Qureshi

January 12, 2024 | 5:53 am

COIN

EXAS

HOOD

PATH

TSLA

Ark Invest, led by Cathie Wood, purchased $25.55 million worth of Tesla Inc (TSLA) shares, while selling shares of Coinbase Global Inc (COIN) and Robinhood Markets Inc (HOOD) following the approval of Bitcoin spot ETFs. Ark also increased its stake in Unity Software Inc (U), sold shares in Exact Sciences Corp (EXAS), and offloaded shares in UiPath Inc (PATH). These trades reflect Ark's confidence in Tesla and a strategic shift in their investment portfolio.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 5:32 am

GRAM

Equity research firm Zuanic & Associates initiated coverage of Gold Flora (OTC:GRAM) with an Overweight rating, citing the company's strong position in the California cannabis market. The market, despite challenges, shows growth potential with Gold Flora well-placed to capitalize on it. The company, post-merger with The Parent Company, has a significant retail chain and brand presence, financial stability with $32 million in cash and negligible net debt, and plans for expansion and increased cultivation capacity. The valuation suggests a compelling opportunity, and while risks exist, the company's strategic positioning could mitigate them.

Portfolio Pulse from Nicolás Jose Rodriguez

January 12, 2024 | 2:55 am

BLK

Rick Rieder, CIO of global fixed income at BlackRock Inc (NYSE:BLK), predicts stocks could surge up to 12% in 2024, dismissing recession fears. He sees potential in the S&P 500 surpassing 5,300 points, driven by strong Big Tech performance and sectors like healthcare and defense. Rieder's view contrasts with other analysts predicting a recession due to consumer debt burdens.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 1:45 am

ARKB

BRRR

BTCW

DEFI

FBTC

GBTC

IBIT

Bitcoin ETFs made a historic debut with over $4 billion in inflows on their first trading day. Blackrock's iShares Bitcoin Trust ETF (IBIT) led with $1 billion, while Grayscale's Bitcoin Trust (GBTC) topped with $2 billion after converting to a spot Bitcoin ETF. Fidelity's Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) also saw significant inflows. Other funds like Valkyrie, WisdomTree, and Hashdex had inflows below $10 million. Bitcoin was trading at $46,279 with a market cap of $900 billion.

Portfolio Pulse from Piero Cingari

January 11, 2024 | 11:12 pm

SVFD

Save Foods, Inc. has filed a prospectus related to the potential resale of up to 6.7 million shares of its common stock from time to time. The filing was made through an S-1 form with the relevant regulatory authorities.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:31 pm

CIVI

Vitol Holding has reported a 7.1% passive stake in Civitas Resources, according to a 13G filing.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:13 pm

CMC

CMP

Stifel analyst Vincent Anderson maintained a Buy rating on Compass Minerals Intl. (CMP) but lowered the price target from $75 to $60. Commercial Metals Company (CMC) increased its share buyback program by $500 million to a total of $850 million. Hecla Mining Company (HL) reported preliminary silver and gold production for 2023, with silver production slightly up despite challenges and gold production down 14%. Hecla expects to reach full production at the Lucky Friday mine in Q1 2024 and aims for 20 million ounces of silver production by 2025.

Portfolio Pulse from Austin DeNoce

January 11, 2024 | 9:53 pm