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ETHUSD

On Tuesday, 2,469.02 Ether (ETH) worth $4,048,724 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -0.19%.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 6:00 pm

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The article reports on the options activity of 10 consumer discretionary stocks. The stocks mentioned are Tesla (TSLA), DraftKings (DKNG), Carvana (CVNA), Toyota Motor (TM), KB Home (KBH), Lucid Group (LCID), V.F. Corporation (VFS), Mattel (MAT), Home Depot (HD), and Wayfair (W). The article provides detailed information about the options activity for each stock, including the type of option (put or call), the sentiment (bearish or bullish), the expiration date, the strike price, the total trade price, the open interest, and the volume.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 5:35 pm

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VGK

President Biden expressed concerns that the ongoing infighting among Republicans could potentially harm aid to Ukraine. The impact on specific US-listed ETFs like SPY and VGK is uncertain.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 5:28 pm

AEP

American Electric Power Inc.'s (NASDAQ:AEP) stock price is currently at $72.88, marking a 0.10% increase. However, the stock has fallen by 4.79% over the past month and by 13.95% over the past year. The company's P/E ratio is lower than the aggregate P/E of the Electric Utilities industry, which could indicate that the stock is undervalued.

Portfolio Pulse from Benzinga Insights

October 04, 2023 | 5:15 pm

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The CBOE Volatility Index (VIX) has surged to a 5-month high, indicating growing apprehensions in financial markets. This surge is largely due to the rise in U.S. Treasury yields, which have reached levels not seen since 2007. The increase in bond yields has caused a decline in the value of the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT), which has dropped by over 50% since March 2020. The rise in yields is also impacting the stock market, with several sectors relying on low or stable interest rates for their operations and profitability. ETFs such as Proshares Trust VIX Short-Term Futures ETF (NYSE:VIXY), Proshares Trust VIX Mid-Term Futures ETF (NYSE:VIXM), and 2x Long VIX Futures ETF (NYSE:UVIX) provide investors with exposure to stock market volatility.

Portfolio Pulse from Piero Cingari

October 04, 2023 | 4:47 pm

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Palantir is expanding its collaboration with PwC to combine AI capabilities. Anthropic, a competitor to OpenAI, is securing additional funding from Alphabet and Amazon. Sanofi and Teva have collaborated to co-develop a drug for inflammatory bowel disease. Insulet's CFO is resigning to join 3M. United Airlines has ordered 110 more aircraft from Boeing and Airbus. Zoom has unveiled AI-powered innovations. Over 75,000 employees of Kaiser Permanente have initiated a three-day strike. Softbank's CEO emphasized the importance of AGI. Uber is expanding its service offerings to include package return. UBS is offering enticing interest rates to attract clients. A New Jersey appeals court overturned a verdict linked to asbestos exposure in Johnson & Johnson's talc powder products. BP is looking to sell a stake in its U.S. oil and gas pipeline network. Helen Of Troy and Acuity Brands reported their earnings.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:37 pm

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Novartis AG's spin-off, Sandoz Group AG, debuted on the SIX Swiss Exchange with a lower-than-expected valuation of $11.2 billion, causing a dip in Sandoz shares. Novartis reiterated its capital allocation strategy, including a $15 billion share buy-back and an annual dividend. Novartis shares also declined by 3.30%.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:35 pm

NVS

Novartis shares are trading lower following the spinoff of Sandoz Group.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 4:10 pm

ATEN

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U.S. stocks traded higher with the Nasdaq Composite gaining around 1% on Wednesday. The ISM services PMI fell to 53.6 in September. BranchOut Food Inc. (NASDAQ:BOF), Gaucho Group Holdings, Inc. (NASDAQ:VINO), and Vivos Therapeutics, Inc. (NASDAQ:VVOS) saw their shares rise. However, Kineta, Inc. (NASDAQ:KA), A10 Networks, Inc. (NYSE:ATEN), and Trinseo PLC (NYSE:TSE) experienced a drop in their shares. Crude oil fell by 4%.

Portfolio Pulse from Lisa Levin

October 04, 2023 | 3:59 pm

VVPR

VivoPower announced a 1-for-10 reverse stock split, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 3:59 pm