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IBIT

Joe Saluzzi, co-founder of Themis Trading, criticized SEC Chairman Gary Gensler for approving spot Bitcoin ETFs, suggesting he should have resisted the pressure from the crypto industry. Saluzzi believes this decision, which followed the approval of Bitcoin futures ETFs, sets a risky precedent and gives unwarranted legitimacy to cryptocurrencies. He also mentioned the BlackRock application for options trading on its iShares Bitcoin Trust (IBIT) shares and expressed concerns over the lack of market surveillance. Saluzzi also commented on Vanguard's decision not to offer Bitcoin ETFs and the Federal Reserve's potential rate cuts.

Portfolio Pulse from Ivan Crnogatić

January 29, 2024 | 10:07 pm

CDTX

Cidara Therapeutics' stock is up following the MHRA approval of REZZAYO for treating invasive candidiasis in adults.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:59 pm

AMZN

Kueski Pay, a payment method allowing customers to pay in bi-weekly installments, is now available on Amazon Mexico. Merchants have reported up to 70% growth in conversion rates and 40% higher purchase frequency when using Kueski Pay.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:58 pm

CDTX

Cidara Therapeutics has announced that the UK's Medicines and Healthcare products Regulatory Agency (MHRA) has approved REZZAYO for the treatment of invasive candidiasis in adults. This approval marks a significant milestone for the company as it expands the availability of its antifungal treatment.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:36 pm

ABAT

PLL

UAMY

X

TD Cowen downgraded Piedmont Lithium Inc. (PLL) from Outperform to Market Perform. President Biden's advisors support union jobs and U.S. steel manufacturing, affecting U.S. Steel Corporation's (X) deal with Nippon Steel. An investigation into the fairness of the deal's terms for U.S. Steel shareholders is underway. United States Antimony Corporation (UAMY) appointed Jeffrey Fink as VP and General Manager of its Bear River Zeolite operation, anticipating production improvements. American Battery Technology Company (ABAT) will discuss battery recycling at the Bloomberg New Energy Finance Summit.

Portfolio Pulse from Austin DeNoce

January 29, 2024 | 9:34 pm

KRNT

Kornit Digital LTD. has announced the general availability of its Apollo platform, a new product offering in the company's portfolio. This development could signify an expansion of Kornit's market presence and an enhancement of its product lineup, potentially leading to increased sales and market share.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 9:24 pm

NTDOY

Nintendo ADR (OTC:NTDOY) is reportedly planning a major launch for the Switch 2 console in 2024 with an 8-inch LCD screen. Despite some criticism over not using OLED, Nintendo intends to produce 10 million units for the fiscal year starting April 2024, aiming for a massive launch with a retail price around $400. The LCD screen may be a cost-saving strategy, with an OLED version potentially releasing later. Details on the console's hardware and launch titles are still unknown, but the production plans indicate Nintendo's strategy to prevent shortages.

Portfolio Pulse from Franca Quarneti

January 29, 2024 | 9:21 pm

DKNG

MGM

Twitter, now owned by Elon Musk and referred to as X, is reportedly in talks with BetMGM, a joint venture of MGM Resorts International and Entain, to integrate sports betting data on the platform. This partnership could allow Twitter users to access BetMGM betting odds and place bets directly. The potential collaboration, which has not been officially announced, comes ahead of Super Bowl LVIII, a major event for sports betting. BetMGM is a key player in the sports betting market, competing with leaders like DraftKings Inc and FanDuel. The partnership could boost user engagement on Twitter and drive new sign-ups for BetMGM.

Portfolio Pulse from Chris Katje

January 29, 2024 | 9:14 pm

GM

General Motors Company (NYSE:GM) is set to report Q4 financial results on Jan. 30. Analysts estimate Q4 revenue at $38.97 billion and earnings per share of $1.16. GM has surpassed revenue and earnings estimates for six and five consecutive quarters, respectively. Mizuho Securities upgraded GM from Neutral to Buy with a price target increase from $38 to $42, citing cost reductions and a strategic EV ramp-up. Barclays and Wolfe Research also provided positive ratings, while Redbush Atlantic initiated with a Neutral rating. The UAW strike's impact, cost-saving measures, and EV strategy will be key topics during the earnings call. GM's Bolt was the third bestselling EV in the U.S., with sales up 65.2% year-over-year. GM has opted out of a Super Bowl ad this year, reflecting a cost-saving decision.

Portfolio Pulse from Chris Katje

January 29, 2024 | 9:11 pm

SCHW

Charles Schwab Corporation (NYSE:SCHW) is reportedly preparing to launch a spot Bitcoin ETF, which could simplify investment in digital assets for retail investors. Industry experts believe this could be a game-changer by providing a regulated investment vehicle, reducing concerns about volatility and security. The move could fill a gap left by Vanguard's decision to avoid Bitcoin ETFs. Opinions are mixed, with some seeing it as a cautious market test, while others emphasize the long-term demand from younger investors. The launch could integrate digital assets into mainstream finance, increase liquidity, and enhance price discovery in the crypto market.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 8:36 pm