Streetbeat News

Regulatory

CAN

CMND

FFNW

OPI

PLUG

SDIG

TGAN

TTGT

TechTarget, Inc. (TTGT) shares rose by 14.4% after announcing a strategic combination with Informa Tech's digital businesses. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting acquisitions, financial results, and other business updates. Notably, First Financial Northwest, Inc. (FFNW) surged 53% due to an acquisition announcement, and Transphorm, Inc. (TGAN) jumped 25.3% after a buyout offer. Crypto-related stocks like Canaan Inc. (CAN) and Stronghold Digital Mining, Inc. (SDIG) also rose after the SEC approved the listing and trading of spot Bitcoin ETFs. Conversely, several companies saw their shares fall, such as Clearmind Medicine Inc. (CMND), Office Properties Income Trust (OPI), and Plug Power Inc. (PLUG), which was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 6:32 pm

SPY

Richmond Fed President Barkin states that evidence is needed to show inflation is moving towards the target. He notes that inflation improvement is mainly in goods, suggesting banks may prefer more liquidity post-pandemic.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:16 pm

ETHUSD

On Wednesday, 8,122.32 Ether (ETH) valued at $21.1M was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 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 Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -9.32% yesterday.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:00 pm

ARGT

BMA

MELI

TEO

Argentina's inflation rate hit around 200% in 2023, with food prices rising significantly. The new president, Javier Milei, has been in office for a month and warns that it may take time to reduce inflation, which some economists predict could reach 500% this year. Milei's strategy includes cutting government spending and subsidies, which some experts fear may initially lead to higher consumer prices. Despite Argentina's economic challenges, the Global X ETF's MSCI Argentina ETF (ARGT) is up nearly 10% over the past six months, and MercadoLibre Inc (MELI) is trading higher. However, Telecom Argentina SA (TEO) and Banco Macro SA ADR (BMA) have seen declines in the last month.

Portfolio Pulse from Aaron Bry

January 11, 2024 | 6:00 pm

ACI

The Federal Trade Commission (FTC) is not expected to make a decision on the proposed merger between Kroger (KR) and Albertsons (ACI) until February. The delay in the regulatory review process means that stakeholders will have to wait to see if the FTC will challenge the merger of these two supermarket giants.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:55 pm

BTCUSD

ETHE

ETHUSD

JPM

The SEC has approved applications for spot Bitcoin ETFs, potentially boosting Bitcoin's price. Meanwhile, Congressman Mike Collins has been purchasing Ethereum, with recent trades disclosed in January. Collins' investment activity comes amid scrutiny of Congress members' trading due to potential conflicts of interest. Collins' stance on cryptocurrency was highlighted in a tweet responding to JPMorgan CEO Jamie Dimon's criticism. The approval of Bitcoin ETFs and interest in Ethereum ETFs, such as from the Grayscale Ethereum Trust, could signal increased institutional interest in cryptocurrencies.

Portfolio Pulse from Chris Katje

January 11, 2024 | 5:55 pm

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm

REE

REE Automotive has started deliveries of its P7-C electric chassis cab following the receipt of Federal Motor Vehicle Safety Standards and EPA certification, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:40 pm

BTCUSD

Better Markets CEO Dennis M. Kelleher criticizes the SEC's approval of Bitcoin ETFs, predicting it will 'unleash crypto predators' and increase systemic risks. He describes Bitcoin as a 'worthless, volatile, and fraud-filled financial product' and expresses concerns over inadequate regulation by the CFTC. Despite such criticism, Bitcoin's price surged past $48K, and crypto-related stocks are rallying.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 5:36 pm

BITF

BTCM

BTDR

CAN

COIN

MARA

MSTR

RIOT

WULF

Shares of miners and crypto-related stocks are down due to volatility after the SEC approved spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:33 pm