Streetbeat News

Products Services

BITB

Bitwise Asset Management is set to launch a new Spot Bitcoin ETF, ticker BITB, on January 11. The ETF will provide investors with exposure to Bitcoin without the need to directly purchase and hold the cryptocurrency. This launch comes amid growing interest in cryptocurrency investment vehicles and could potentially offer a more regulated and accessible way for investors to gain Bitcoin exposure.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:06 pm

AGI

Alamos Gold Inc. (NYSE:AGI) reported record annual gold production of 529,300 ounces for 2023, a 15% increase from 2022, and provided a three-year production and operating guidance. The company expects production growth and declining costs over the next few years, with a 7% growth anticipated by 2026. The Phase 3+ Expansion at Island Gold is on track, and the company is advancing other growth initiatives, including the development plan for PDA and Lynn Lake. Alamos Gold ended 2023 with strong financial performance, generating record revenues of $1.0 billion and increasing its cash position to $225 million while remaining debt-free. The company has increased its 2024 production guidance and expects total cash costs and AISC to remain flat in 2024 and decrease by 2026. Capital spending is projected to decrease by 46% by 2026 at existing operations. Alamos Gold has also increased its exploration budget to the highest level in its history.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:04 pm

OGN

Shares of Organon & Co. (NYSE:OGN) rose after announcing the availability of XACIATO 2%, a vaginal gel. The product can be applied at any time, reduces leakage, increases retention time, and releases clindamycin gradually. The company emphasizes its commitment to women's health and innovation. OGN's stock increased by 6.17% to close at $17.20 on Wednesday.

Portfolio Pulse from Ryan Gustafson

January 10, 2024 | 10:01 pm

HL

Hecla Mining Company (HL) reported its preliminary silver and gold production for 2023, with silver production slightly up at 14.3 million ounces despite a temporary shutdown at the Lucky Friday mine. Gold production decreased by 14% due to a transition at Casa Berardi, while Greens Creek saw a 26% increase in gold production. The Lucky Friday mine is expected to ramp up to full production in 2024, and Keno Hill's Bermingham deposit showed strong potential. Hecla aims to produce up to 20 million ounces of silver by 2025, emphasizing silver's role in energy transition.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:46 pm

TAP

Molson Coors Beverage Co (NYSE:TAP) has announced the release of Miller Lite Beer Mints, a new product designed for those participating in Dry January. The mints, which have a spearmint taste that transitions to the flavor of Miller Lite, will be sold in tins of roughly 40 for $5. Available from Jan. 12, with a restock on Jan. 19, they are targeted at consumers who want to enjoy the taste of beer without alcohol.

Portfolio Pulse from Adam Eckert

January 10, 2024 | 9:45 pm

VTAK

Catheter Precision, Inc. (VTAK) released unaudited preliminary Q4 and FY23 results, reporting Q4 revenue of $129K and FY23 revenue of $442K. The company ended the year with $3.6 million in cash, total assets of $30.7 million, and shareholders' equity of $19.4 million. A significant net loss was reported for both Q4 and FY23, with a one-time $61 million write-off for goodwill impairment included in the annual loss. Key highlights include the launch of LockeT closure product in the US, expansion of sales and clinical personnel, and progress in clinical studies for LockeT. The company also received approval for its VIVO product in France and expanded its IP portfolio to 50 patents worldwide. CEO David Jenkins expressed optimism for 2024, citing momentum in product introductions and hospital evaluations. Final results are pending completion of year-end financial reporting and audit processes.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:45 pm

AAPL

Apple Inc (NASDAQ:AAPL) is distributing nearly $100 to eligible iPhone 6 and 7 owners as part of the settlement for the 'batterygate' scandal. The payments follow the finalization of a settlement in August 2023, where Apple agreed to pay between $310 million and $500 million without admitting wrongdoing. The settlement was reached after users complained of performance throttling, which Apple claimed was to prevent shutdowns due to battery degradation. Claims were required to be filed by October 2020, and around three million claims were recorded, with social media users reporting receiving payments of $92.17 this week.

Portfolio Pulse from Adam Eckert

January 10, 2024 | 9:35 pm

ARKW

BITW

BTCUSD

GBTC

The SEC has approved applications for spot Bitcoin ETFs, a decision that is expected to significantly impact the cryptocurrency and traditional finance sectors. The approved ETFs include Grayscale Bitcoin Trust, Bitwise Bitcoin ETF, Hashdex Bitcoin ETF, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, ARK 21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Fund, and Franklin Bitcoin ETF. This approval follows a false tweet from a compromised SEC account, which caused a temporary drop in Bitcoin prices. Experts predict the decision will attract new investors, integrate Bitcoin with traditional finance, and boost the digital asset ecosystem. The ETFs are seen as a step towards legitimizing Bitcoin and may lead to more stability and growth in the long term.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 9:34 pm

LAC

Lithium Americas (Argentina) Corp. announced its 2023 production results for the Caucharí-Olaroz lithium project, surpassing guidance with approximately 6,000 tonnes of lithium carbonate produced. The plant is operating at 50% capacity, with the KCl plant ramping up. The company will report year-end financial results on March 21, 2024, and host a conference call on March 22, 2024. The project has been shipping lithium since October and is nearing battery-quality production.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:06 pm

REBN

Reborn Coffee, Inc. (NASDAQ:REBN) has received a $1M private placement equity commitment from its Chairman, Farooq Arjomand. This investment is a strong vote of confidence in Reborn's valuation and growth potential, coinciding with the opening of its flagship store in Malaysia and planned expansion into Dubai and Southeast Asia. The company aims to leverage this investment to enhance product offerings, expand market reach, and continue innovating within the coffee industry.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:05 pm