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Regulatory

SPY

Fed Governor Michelle Bowman stated the Fed's willingness to raise policy rates if inflation progress stalls or reverses. She also criticized climate guidance from banking regulators, arguing it diverts resources from core financial risks.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

SPY

Fed's Bowman commented on the labor market's supply and demand reaching a better balance but noted that upside risks to inflation persist, including geopolitical factors and easing financial conditions. She emphasized a cautious approach to any changes in the Fed's policy rate.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

PAVM

PAVmed Inc. received a notification from Nasdaq on January 7 stating that the company has regained compliance with the $1 minimum bid price requirement for continued listing, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:34 pm

BLK

BlackRock Inc (NYSE:BLK) is planning to cut its workforce by 3%, affecting around 600 employees. The layoffs are part of the company's adjustments in response to market changes and its maturation phase. BlackRock is also revising its ESG investment strategies, moving away from the term 'ESG' in the U.S. due to political controversies, while still managing substantial sustainable investments internationally. CEO Larry Fink has indicated a shift in approach, with U.S. portfolio managers no longer required to consider ESG metrics in non-ESG funds.

Portfolio Pulse from Michael Cohen

January 08, 2024 | 9:27 pm

BTCUSD

ETHUSD

The total cryptocurrency market cap has reached $1.69 trillion, the highest since May 2022, driven by expectations of a Bitcoin spot ETF approval. Bitcoin's market value nearly doubled to $920 billion, while Ethereum's market share slightly declined. Analysts at Standard Chartered predict a bullish future for Bitcoin, suggesting a potential rise to $100,000 by the end of 2024 if the ETF is approved, with an optimistic forecast of $200,000 by the end of 2025.

Portfolio Pulse from Piero Cingari

January 08, 2024 | 9:27 pm

ES

Eversource Energy (NYSE:ES) expects to record an after-tax impairment of $1.4B-$1.6B for Q4 2023 due to increased costs and uncertainties in its offshore wind investments. The company is in advanced negotiations to sell its 50% interest in three offshore wind projects to a global private infrastructure investor. The sale is subject to regulatory approvals and the execution of partnership agreements with Ørsted. Eversource will continue to make required cash contributions to the JV projects until the sale is completed. The impairment charge will not affect Eversource's future cash flows or current cash balances.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 9:24 pm

SNGX

Soligenix shares surged following the announcement that the FDA has granted 'Fast-Track' designation to its SGX945 development program for Behcet's Disease treatment.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:58 pm

BLK

JPM

The SEC's imminent decision on Bitcoin ETFs has the industry focused on four critical factors: fee wars among ETF applicants, institutional FOMO potentially driving a successful launch, regulatory challenges with established players like JPMorgan involved, and the impact of Grayscale's potential conversion of GBTC into a spot ETF. BlackRock leads with the lowest fee, while Grayscale has the highest. The outcome will significantly influence the Bitcoin ETF market and possibly Bitcoin's price.

Portfolio Pulse from Murtuza Merchant

January 08, 2024 | 8:55 pm

RIO

Rio Tinto (LSE: RIO) is set to initiate the world's largest mining project in Guinea's Simandou mountains, overcoming decades of challenges. The project includes two iron mines, a 400-mile rail system, and a port, with an initial investment of $6.2 billion. Partners include Chalco Iron Ore Holdings and China Baowu Steel Group. The high-grade iron ore from Simandou is crucial for cleaner steelmaking processes, aligning with global climate change goals. Production is expected to start in 2025 with an annual capacity of 60 million tons, Rio Tinto's share being about 27 million tons.

Portfolio Pulse from Stjepan Kalinic

January 08, 2024 | 8:54 pm

MDT

Medtronic plc. (NYSE:MDT) shares are experiencing an uptrend, rising over 2.5% on Monday and approximately 20% over the past two months. The positive momentum follows better-than-expected Q2 results and increased full-year 2024 guidance. Recent FDA approvals for the PulseSelect PFA System and the Percept RC DBS system, along with CE Mark approval for the MiniMed 780G system with Simplera Sync, have contributed to the stock's rise.

Portfolio Pulse from Ryan Gustafson

January 08, 2024 | 8:54 pm