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GBTC

The U.S. launch of spot Bitcoin ETFs saw $4.5 billion in trading volumes on the first day, with significant contributions from Grayscale Bitcoin Trust (GBTC) and BlackRock's new iShares Bitcoin Trust (IBIT). Grayscale's conversion to an ETF and BlackRock's entry into the market marked notable events, but the true measure of new capital inflows remains uncertain. Vanguard's boycott of ETFs contrasts with the market's positive response to these new cryptocurrency investment vehicles.

Portfolio Pulse from Murtuza Merchant

January 12, 2024 | 6:00 pm

ETHUSD

On Thursday, 6,827.95 Ether (ETH) valued at $17M was burned due to the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -7.20% for Ether, indicating a deflationary trend, especially with the upcoming Ethereum 2.0 upgrade that is expected to further reduce the issuance rate to 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 6:00 pm

TSLA

Tesla has reportedly halted most production at its Berlin factory and implemented additional price cuts in China, leading to a decline in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:56 pm

LCID

Lucid Group, Inc. (NASDAQ:LCID) stock is trading lower, down nearly 20% over the past five days. The company is recalling over 2,000 Lucid Air sedans due to potentially faulty high voltage coolant heaters, which could increase the risk of a crash. Lucid produced 2,391 vehicles and delivered 1,734 in Q4, with full-year figures at 8,428 produced and 6,001 delivered. Lucid will announce Q4 2023 financial results on Feb. 21, with an expected loss of 30 cents per share and revenue of $192.629 million. LCID shares are currently down 7.2% at $3.02.

Portfolio Pulse from Erica Kollmann

January 12, 2024 | 5:49 pm

AUVI

FLXS

GNS

INPX

JPM

MNTS

VCIG

The Dow Jones index fell over 200 points, while JPMorgan Chase & Co (NYSE:JPM) reported better-than-expected fourth-quarter earnings with a net revenue of $39.943 billion and EPS of $3.97, surpassing consensus estimates. Energy shares rose by 1%, but consumer discretionary shares dropped by 0.8%. Applied UV, Inc. (NASDAQ:AUVI), Flexsteel Industries, Inc. (NASDAQ:FLXS), and Inpixon (NASDAQ:INPX) saw their shares rise after positive announcements. Conversely, Genius Group Limited (NYSE:GNS), VCI Global Limited (NASDAQ:VCIG), and Momentus Inc. (NASDAQ:MNTS) experienced significant share price drops due to public offering pricing and concerns about ongoing viability.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 5:48 pm

ALK

DAL

EADSY

Airbus SE delivered a record 735 commercial aircraft in 2023, an 11% increase from 2022, with 2,319 gross orders. Boeing Company, on the other hand, delivered 528 aircraft and secured 1,314 net new orders in 2023. Boeing's shares have been declining since the Alaska Air Group incident. Airbus' new orders include 18 A350-1000s and 15 A321neos from EVA Air, and 20 A350-1000s with options for 20 more from Delta Air Lines. Airbus shares (EADSY) rose by 2.36% to $40.78 recently.

Portfolio Pulse from Nabaparna Bhattacharya

January 12, 2024 | 5:42 pm

VNDA

Vanda Pharmaceuticals has expressed concern over the FDA's recent guidance on communication about unapproved uses of approved drugs. The guidance could lead to criminal misbranding liability for drugmakers sharing new clinical trial results unless they meet the FDA's vague standards. Vanda views this as a threat to free speech and due process, and an overreach without clear congressional direction, potentially impacting medical practice and public health.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:28 pm

ABBNY

ABB Ltd (OTC:ABBNY) acquired Swiss start-up Sevensense, a provider of AI-enabled 3D vision navigation technology for robots. This acquisition aligns with ABB's focus on AI solutions for industries like logistics and manufacturing and follows their minority investment in Sevensense in 2021. The mobile robots market is expected to grow at a 20% CAGR through 2026. ABB plans to integrate Sevensense's technology into its AMR portfolio, enhancing speed, accuracy, and payload. Sevensense's team will remain in Zurich, and ABB will report Q4 FY23 earnings on February 1, 2024. ABBNY shares saw a slight increase of 0.46% to $42.90 on Friday.

Portfolio Pulse from Lekha Gupta

January 12, 2024 | 5:14 pm

ARDX

Wedbush has reaffirmed its Outperform rating on Ardelyx (NASDAQ:ARDX) and increased its price target from $9.00 to $13.00, implying a potential upside of 48.06% from the current price of $8.78. Ardelyx is a biotech company developing treatments for gastrointestinal and cardiorenal diseases, with tenapanor as its lead product candidate.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 5:00 pm

DCGO

ELTX

LAES

SANA

SATS

Benzinga's Stock Whisper Index highlights five stocks: Sana Biotechnology Inc (SANA) after FDA clearance for an IND, DocGo Inc (DCGO) responding to a short report and providing revenue estimates, SEALSQ Corp (LAES) with increased revenue and extended semiconductor offerings, Elicio Therapeutics (ELTX) dosing the first patient in a Phase 2 study, and EchoStar Corp (SATS) after completing a merger with Dish Network Corp and receiving a $50 million grant. SANA shares are up 82% in the last month, while DCGO shares declined after the short report.

Portfolio Pulse from Chris Katje

January 12, 2024 | 5:00 pm