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Ark 21Shares has updated its Ethereum ETF proposal to include potential staking and cash creation adjustments, similar to its Bitcoin ETF proposal. The update anticipates discussions with the SEC and outlines the possibility of staking Ethereum through trusted third parties for income, while acknowledging associated risks. This amendment is seen as a significant move that could impact the staking industry and the development of distributed validator technology. Bloomberg analysts estimate a 60% chance of SEC approval for the spot Ethereum ETFs in May, though there's skepticism about the inclusion of Ethereum staking.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 8:52 pm

FUBO

FuboTV shares are trading lower following the announcement of a joint venture by ESPN, Fox, and Warner Bros. Discovery to launch a new streaming sports service in the U.S. This development introduces significant competition for FuboTV in the sports streaming market.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 8:29 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower after multiple analysts downgraded the stock to Neutral and set price targets around $4.50-$4.75. UBS and Seaport Global analysts cited concerns, while Redburn Atlantic initiated coverage with a Neutral rating. Despite the downgrades, Plug Power announced the restart of its hydrogen plant in Tennessee, aiming to improve efficiency and supply. The stock is currently trading above its 50-day moving average, with a significant portion of shares being sold short.

Portfolio Pulse from Erica Kollmann

February 07, 2024 | 8:18 pm

DIS

Walt Disney Co (NYSE:DIS) shares are trading flat following an announcement of a joint sports streaming service launch this fall with ESPN, Warner Bros Discovery, and Fox. The service will offer a wide range of sports channels and the option to bundle with Disney+, Hulu, and Max. Disney is also preparing to report its fiscal first-quarter financial results, with expected earnings of 99 cents per share on $23.643 billion in revenue. Disney shares experienced a slight decline of 0.31% to $98.98.

Portfolio Pulse from Adam Eckert

February 07, 2024 | 8:11 pm

COIN

Prometheum Inc., a U.S.-based crypto securities platform with regulatory approval, plans to offer Ethereum's Ether (ETH) custody services to its clients. Despite not generating revenue yet, the co-CEOs aim to start these services soon, with plans to expand to other significant tokens. Prometheum's move into regulated crypto custody and trading could influence how the SEC views ETH, amidst debates over its classification as a security or commodity. The company targets asset managers, hedge funds, and banks, potentially benefiting from SEC rules on crypto asset custody.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 8:06 pm

LLY

Eli Lilly (NYSE:LLY) reported a Q4 2023 revenue of $9.35 billion, a 28% increase Y/Y, surpassing the consensus of $8.93 billion. This growth was driven by higher prices, increased volume, and favorable foreign exchange rates. New Products revenue, led by Mounjaro and Zepbound, grew to $2.49 billion. The company also announced positive results from the SYNERGY-NASH Phase 2 study of tirzepatide. However, Verzenio did not meet its primary endpoint in the CYCLONE-2 study. Analysts from BMO Capital, Morgan Stanley, BofA Securities, and Truist have raised their price targets for LLY, citing strong growth potential and recent successes.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 7:49 pm

AMGN

Amgen Inc (NASDAQ:AMGN) reported a 15% increase in Q4 2023 adjusted net profit to $4.71, surpassing the consensus of $4.62, driven by a 20% increase in revenues to $8.2 billion. The growth was partially offset by higher operating expenses. Product sales, including $954 million from the Horizon Therapeutics acquisition, grew 20%. Amgen expects adjusted EPS of $18.90-$20.30 and revenue of $32.4 billion-$33.8 billion. Investors are keen on Amgen's obesity drug data, with Phase 1 and 2 study results expected in 2024. Analysts have adjusted price targets, reflecting various outlooks on the company's performance and potential.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 7:36 pm

HOOD

Financial analysts have observed a bullish trend in options trading for Robinhood Markets (NASDAQ:HOOD), with 70% of trades showing bullish sentiment. The trading activity suggests a target price range of $9.0 to $15.0 for HOOD over the next three months. Significant trades include both puts and calls, with a notable volume and open interest within the $9.0 to $15.0 strike price range. Robinhood Markets, known for its app-based financial services platform, has seen its stock price increase by 0.56% to $10.84, with a neutral RSI. Analysts from Goldman Sachs and Mizuho have set target prices at $11 and $15, respectively.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 7:30 pm

ETHUSD

MATICUSD

Donald Trump's cryptocurrency portfolio, including the MAGA coin (TRUMP), has surged 50% in value in two weeks, reaching $1.61 million. The rally is led by the TRUMP coin, which increased from $1.85 to $2.80. Other significant holdings include WETH, Ethereum (ETH), and Polygon (MATIC), contributing to over $2 million in profit. Despite Trump's skepticism towards cryptocurrencies, the MAGA coin's success and its potential impact on the 2024 presidential race are highlighted.

Portfolio Pulse from Khyathi Dalal

February 07, 2024 | 7:17 pm

AMD

NVDA

SMCI

Morgan Stanley analyst Joseph Moore has reiterated an Overweight rating on Nvidia Corp (NVDA) and increased the price target to $750 from $603, citing significant growth and robust near-term results. Despite initial concerns, Nvidia's valuation and demand for GPU cloud instances indicate exceptional results in the coming quarters. Advanced Micro Devices, Inc (AMD) and Super Micro Computer, Inc (SMCI) also contributed to Nvidia's strong performance. Moore projects FY24 revenue and EPS significantly higher than previous estimates.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 7:10 pm