Streetbeat News

Equity Actions

AMD

BITO

COIN

PLTR

SQ

SSYS

TWLO

VCYT

Ark Invest, led by Cathie Wood, purchased over $92 million of ProShares Bitcoin Strategy ETF (BITO) and sold shares of Coinbase (COIN), Block (SQ), and Palantir (PLTR). The firm also reduced holdings in Stratasys (SSYS), Advanced Micro Devices (AMD), Twilio (TWLO), and Veracyte (VCYT). These trades reflect Ark's strategic adjustments in the cryptocurrency market and other sectors.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 4:19 am

TLT

Andrew Slimmon, a senior portfolio manager at Morgan Stanley Investment Management, expressed a bullish outlook on the market, suggesting that the S&P 500 is close to a breakout. The index is just 1% below its all-time high after a 24% surge this year, buoyed by a resilient U.S. economy and easing inflation. Despite the optimism, Morgan Stanley strategists caution about a possible recession in 2024. The 'Santa Claus Rally' and recent highs in the Dow Jones and Nasdaq 100 support the positive sentiment. Vance Howard, CEO of Howard Capital Management, predicts long-term bonds may outperform the S&P 500 in 2024, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) seeing a 13% increase since early November.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 1:58 am

DISH

SATS

EchoStar will replace DISH Network in the S&P SmallCap 600 before trading opens on January 2, coinciding with EchoStar's acquisition of DISH Network, subject to final conditions being met.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 10:18 pm

CHRD

Chord Energy has announced that Susan Cunningham will become the Independent Chair of the Board, effective January 1, 2024, following the retirement of current Executive Chair Lynn A. Peterson on December 31, 2023. This transition will decrease the Board size to nine members.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:31 pm

PROF

Profound Medical Corp. has announced a proposed public offering of its common shares, with the terms yet to be disclosed. The offering price and size will be determined in the context of the market upon entering an underwriting agreement. The company also plans to grant the underwriter an over-allotment option of up to an additional 15% of the common shares, exercisable for 30 days post-closing. All securities in the offering will be sold by the company itself.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:18 pm

EFSH

1847 Holdings announced a 1-for-4 reverse stock split effective January 8, 2024, reducing outstanding shares from 3.43 million to 0.86 million and the float from 3.40 million to 0.85 million.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:08 pm

FRTX

Fresh Tracks Therapeutics has announced a new special meeting of stockholders to be held on February 15, 2024, to seek approval for the company's liquidation.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:07 pm

TLT

XLRE

U.S. 30-year Treasury yields fell below 4%, the lowest since late July, prompting a rise in fixed income and real estate assets due to expectations of Federal Reserve rate cuts. The iShares 20+ Year Treasury Bond ETF (TLT) surged 21% since late October, and the Real Estate Select Sector SPDR Fund (XLRE) increased by 19% over the past three months, both benefiting from the market's anticipation of rate reductions.

Portfolio Pulse from Piero Cingari

December 27, 2023 | 8:37 pm

AEP

American Electric Power (AEP) has reaffirmed its financial forecast that was previously issued on November 10, 2023. The company maintains its 2024 operating EPS guidance and its projected long-term earnings growth rate of 6%-7%. Additionally, AEP continues to target a funds from operations (FFO) to debt ratio of 14%-15%.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 7:48 pm

BN

Brookfield's (NYSE:BN) short interest has decreased by 4.4%, with 25.74 million shares sold short, representing 1.74% of its float. It would take about 12.36 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. Brookfield has less short interest compared to its peer group average of 3.31%. Short interest is a key indicator of market sentiment and can influence stock price movements.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 7:45 pm