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On Tuesday, 4,398.82 Ether (ETH) valued at approximately $10.7 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -3.21% yesterday.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:00 pm

LAES

SEALSQ Corp (NASDAQ:LAES) reported FY23 revenue of $30 million, a 29% increase YOY, surpassing its Q3 outlook. The company introduced a new 'on-Package' chip personalization service with a 4-week lead time. CEO Carlos Moreira highlighted 2024 as a transitional year, with expected revenue slowdown but growth in new areas like cyber trust mark standards and Matter certification. Investments in post-quantum technology are expected to pay off from 2025. Moreira also mentioned SEALCOIN for IoT transactions. The stock surged 30% to $2.08.

Portfolio Pulse from Akanksha Bakshi

January 10, 2024 | 5:58 pm

BABA

NVDA

SPY

TCEHY

Nvidia Corp (NVDA) is facing challenges in the Chinese AI market due to U.S. export controls leading to the repurposing of standard PC gaming graphics cards. Chinese companies are dismantling thousands of Nvidia's gaming cards monthly to circumvent the shortage of high-end processors. This has spiked demand for gaming chips, but modifications could infringe on Nvidia's intellectual property rights. Nvidia has released three new chips for China with reduced performance to comply with regulations. Reports suggest that Alibaba (BABA) and Tencent (TCEHY) may reduce orders for Nvidia's chips, and Chinese cloud companies could cut orders by 50%-60% within five years. Despite these challenges, Nvidia's stock has seen significant growth, outperforming the SPDR S&P 500 ETF (SPY).

Portfolio Pulse from Anusuya Lahiri

January 10, 2024 | 5:34 pm

MSFT

OpenAI announced the launch of a GPT Builder Revenue Program in Q1, which will allow developers to create and monetize applications using GPT models. The program aims to expand the ecosystem of GPT-powered applications and provide a new revenue stream for developers. This move could potentially increase the usage and integration of GPT models across various industries.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 5:34 pm

PLTR

Palantir Technologies Inc. shares are on the rise following comments from CEO Alex Karp indicating that the company is seeing a surge in demand from Israel.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 5:29 pm

AAL

ALK

DAL

JETS

LUV

SPY

UAL

Airline stocks are experiencing a surge in early 2024, with American Airlines, United Airlines, Delta Air Lines, and Southwest Airlines posting significant weekly gains. These gains are reflected in the U.S. Global Jets ETF, which includes these airlines as its biggest holdings. Despite the positive trend, airline stocks face potential headwinds such as economic slowdown, high interest rates, and geopolitical tensions affecting oil prices. Delta is favored by analysts with strong buy ratings, while American Airlines has announced expansion plans. Southwest Airlines is running a flash sale, and United Airlines is noted for its scale despite a high debt-to-asset ratio. An incident with an Air Alaska Group Boeing 737 Max 9 could lead to more affordable fleet replacements for airlines if Boeing reduces prices.

Portfolio Pulse from Neil Dennis

January 10, 2024 | 5:26 pm

CBT

FCX

LIN

LYB

OLN

Fidelity has identified five materials sector stocks with attractive supply-demand dynamics for 2024, anticipating a sector turnaround. The selected stocks are Freeport-McMoRan Inc (FCX), LyondellBasell Industries NV (LYB), Olin Corp (OLN), Cabot Corp (CBT), and Linde PLC (LIN). These companies are expected to benefit from factors such as copper supply challenges, cost advantages from natural gas usage, and alignment with global energy transition trends.

Portfolio Pulse from Surbhi Jain

January 10, 2024 | 5:16 pm

SVRE

SaverOne 2014 has received a decision to grant a European patent for its 'SYSTEM AND METHODS TO FACILITATE SAFE DRIVING'. The patent approval is a significant milestone for the company, potentially strengthening its intellectual property portfolio and market position in Europe.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 5:07 pm

Wedbush analyst Seth Basham upgraded Home Depot Inc (NYSE:HD) from Neutral to Outperform and raised the price target from $330 to $380, anticipating demand growth in 2024. Home Depot is expected to benefit from increased home improvement spending and its Pro business segment is likely to outperform DIY. The company's launch of new smart home devices at CES 2024 and the expected rebound in the industry environment contribute to the positive outlook. Basham's projections for Home Depot in 2024 include operating margins of 14.3% and earnings of $15.85 per share, exceeding consensus estimates.

Portfolio Pulse from Priya Nigam

January 10, 2024 | 4:59 pm

WIX

Wix.com Ltd (NASDAQ:WIX) has introduced a new revenue-sharing plan for partners using Wix Studio. The plan offers various benefits, including priority support and a 20-30% revenue share on new Studio sites created in 2024. Partners can also earn from client sales on Wix Payments and receive a 50% share for enterprise packages. The program is designed to empower freelancers and agencies, and is open globally with certain conditions and eligibility requirements. WIX shares saw a slight increase of 0.19% to $122.44.

Portfolio Pulse from Anusuya Lahiri

January 10, 2024 | 4:57 pm