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BLK

IBIT

BlackRock (NYSE:BLK), the world's largest asset manager, is expanding its crypto strategy, focusing on Bitcoin, stablecoins like USDC, and tokenized assets. It owns stakes in the iShares Bitcoin Trust (NASDAQ:IBIT), Circle (issuer of USDC), and Securitize (transfer agent for BUIDL). BlackRock is leveraging Bitcoin for its global accessibility, utility in transactions, and as an inflation hedge, with plans to include Ethereum and Solana in its offerings. The firm views blockchain as transformative for capital markets, potentially developing its own blockchain for recordkeeping.

Portfolio Pulse from Murtuza Merchant

April 15, 2024 | 6:53 pm

BSX

ITGR

JNJ

MDT

BofA Securities upgraded Integer Holdings Corporation (NYSE:ITGR) due to expected growth in the pulsed field ablation (PFA) market, forecasting PFA sales to increase from $100-200 million in 2023 to over $2 billion by 2025. Integer, a major medical device outsourcing manufacturer, supplies components for PFA devices made by Boston Scientific Corporation (NYSE:BSX), Medtronic Plc (NYSE:MDT), and Johnson & Johnson (NYSE:JNJ). The upgrade anticipates additional revenue for Integer and a stock price target increase from $105 to $135.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 6:43 pm

GOOGL

Japan's antitrust watchdog is set to take action against Google for alleged unfair practices in a search advertising partnership with Yahoo. The Japan Fair Trade Commission (JFTC) has been investigating Google's keyword-targeted search ad technology provided to Yahoo, now part of LY Corp. Google has submitted an improvement plan, which the JFTC is expected to accept, focusing on creating a more level playing field in its advertising business, which accounts for 80% of its revenue. This comes amid increasing international scrutiny of Google's digital advertising dominance.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:03 pm

BRK

CRM

EBAY

Warren Buffett's annual charity lunch auction, benefiting The Glide Foundation, has ended after raising $53 million over several years, with a record $19 million bid in 2022. Salesforce Inc CEO Marc Benioff will replace Buffett for the 2024 auction, continuing the philanthropic legacy. The auction will be conducted in partnership with eBay Inc, starting at $25,000.

Portfolio Pulse from Chris Katje

April 15, 2024 | 4:49 pm

SHIBUSD

Shiba Inu (SHIB) has seen a 3% increase in price alongside a 7,351% surge in daily transactions over four days, attributed to community developments and a decentralized building initiative by Ryoshi Network. The initiative aims to make SHIB a gas for a community-driven L2 ecosystem, enhancing DeFi utilities access. Shiba Inu's sponsorship of the Web3 Summit Dubai and strategic investment policies by its marketing lead, Lucie, further bolster its position. Additionally, a significant token inflow to large holders and a notable token burn have contributed to positive market sentiment.

Portfolio Pulse from Khyathi Dalal

April 15, 2024 | 3:28 pm

GM

General Motors (GM) and Bedrock Real Estate are planning to redevelop GM's headquarters, the Renaissance Center in Detroit. The plans, which will be detailed in a news conference by GM CEO Mary Barra and Bedrock Chairman Dan Gilbert, do not involve selling the complex. This redevelopment is part of a broader effort by Gilbert's company to invest in downtown Detroit, where he has been acquiring properties for many years.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:27 pm

GS

Goldman Sachs' CEO reported during a conference call that limited partners are pressuring the firm to return more capital. Additionally, the CEO noted that the leveraged finance and deals book is still operating at a historically low level but expressed confidence in bringing platform solutions to profitability by 2025.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:06 pm

GS

Goldman Sachs' CEO emphasized a current focus on organic execution of their wealth management strategy during a conference call. He hinted at the possibility of future strategic moves but noted that activity from financial sponsors remains subdued, albeit showing signs of picking up.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:06 pm

GOOG

GOOGL

PINS

RDDT

SNAP

JPMorgan analyst Doug Anmuth initiated coverage of Reddit, Inc (NYSE:RDDT) with a Neutral rating and a price target of $47, suggesting an 11% upside. Anmuth highlights Reddit's potential for 20%+ revenue growth in the next few years through ad tech improvements, self-serve expansion, and growing advertiser count. Reddit's partnership with Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) for data licensing presents additional upside. However, challenges in the competitive online advertising landscape and a valuation trading at approximately 5 times its estimated 2025 revenue are noted. Reddit's first public earnings report is anticipated on May 7.

Portfolio Pulse from Surbhi Jain

April 15, 2024 | 2:28 pm

APD

Air Products (APD) has received funding from the Ministry of Economic Affairs, Industry, Climate Protection and Energy of North Rhine-Westphalia to build two hydrogen refueling stations in Duisburg and Meckenheim, Germany. These stations, part of a European network, aim to support zero-emission fleets by providing low-carbon energy for heavy-duty vehicles. This initiative aligns with North Rhine-Westphalia's goals to decarbonize heavy-duty transportation and expand its hydrogen infrastructure.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:09 pm