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BITB

GBTC

IBIT

Spot Bitcoin ETFs experienced a net outflow of $223 million on Monday, with Grayscale's Bitcoin Investment Trust (GBTC) seeing a $303 million outflow. However, Bitwise ETF (BITB) and BlackRock's iShares Bitcoin Trust (IBIT) recorded inflows. Additionally, Defiance Investments filed with the SEC to launch a 2x leveraged Ethereum futures ETF, indicating a growing complexity in cryptocurrency investment options. The SEC delayed decisions on Bitcoin ETF applications from Bitwise and Grayscale until May 29.

Portfolio Pulse from Murtuza Merchant

April 09, 2024 | 12:04 pm

CVX

IYE

TTE

XLE

Chevron Corporation (NYSE:CVX) has officially exited Myanmar's Yadana gas field, redistributing its 41.1% stake to PTT Exploration and Production and Myanma Oil and Gas Enterprise. This move comes after Chevron's 2021 announcement to leave Myanmar due to violence and human rights abuses following the 2021 coup. The Yadana field, a significant gas producer, has been a point of contention amid Myanmar's ongoing crisis. Chevron's exit aligns with its commitment to an orderly withdrawal, reflecting on international law and sanctions. Investors can track Chevron's performance through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 11:58 am

WISA

WiSA Technologies shares are trading lower despite the Nasdaq accepting its compliance plan. This indicates investor concerns or lack of confidence in the company's ability to maintain compliance or improve its financial health.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:57 am

AMAT

FTXL

LRCX

NVDA

NXTE

Applied Materials Inc (NASDAQ:AMAT) may reconsider its $4 billion R&D facility in Silicon Valley due to insufficient federal funding, impacting its plans and potentially affecting other companies like Nvidia Corp (NASDAQ:NVDA) and Lam Research Corp (NASDAQ:LRCX). The Biden administration's decision not to finance semiconductor R&D facilities, despite a global semiconductor shortage, has led to challenges for California's semiconductor industry. Applied Materials, under investigation for allegedly exporting equipment to China's SMIC without proper licenses, reported Q1 fiscal 2024 sales of $6.71 billion, surpassing estimates. Investors can gain exposure to AMAT through First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) and Investment Managers Series Trust II AXS Green Alpha ETF (NYSE:NXTE).

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 11:45 am

AAPL

Jim Cramer criticized Apple Inc. (NASDAQ:AAPL) for sending receipts for subscription services at odd hours, such as 3:50 a.m., suggesting it could lead to customers overlooking these emails. This critique comes amid broader scrutiny of Apple's services business, which faces potential legal and regulatory challenges. Apple's billing practices have been questioned by users, with some reporting being charged for subscriptions without receiving bills and difficulties in canceling subscriptions. Additionally, Apple is under investigation by the European Union for potential antitrust violations, alongside Meta Platforms Inc. and Alphabet Inc.'s Google.

Portfolio Pulse from Rounak Jain

April 09, 2024 | 11:42 am

DFIN

Donnelley Financial Solutions (NYSE:DFIN), a provider of risk and compliance solutions, announced it successfully test filed a full N-CSR, including an iXBRL tagged Tailored Shareholder Report (TSR), to the SEC ahead of the July 24 compliance deadline. This test was conducted on behalf of a large Chicago-based asset manager, marking a critical milestone for DFIN in meeting new regulatory requirements.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:33 am

Bloom Energy's stock is on the rise following the announcement that it has been awarded up to $75 million in tax credits for its Fremont facility, signaling strong government support and financial incentives for the company's operations.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:14 am

SYRS

Syros Pharmaceuticals has been granted Fast Track designation by the FDA for Tamibarotene, aimed at treating newly diagnosed unfit AML patients with RARA gene overexpression. This designation could expedite the development and review process for Tamibarotene, potentially bringing it to market quicker.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:10 am

BMY

TSVT

The FDA has approved the use of a suspension lentiviral vector for the manufacturing of Abecma, as announced by 2Seventy Bio and Bristol Myers Squibb. This approval marks a significant advancement in the production process of Abecma.

Portfolio Pulse from Charles Gross

April 09, 2024 | 11:06 am

ALKS

Alkermes announced positive topline results from its Phase 1b study of ALKS 2680, a treatment for patients with Narcolepsy Type 2 and Idiopathic Hypersomnia. This marks a significant milestone in the development of a potential new treatment option for these sleep disorders.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:03 am