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C

Citigroup CFO Mark Mason stated that the charges disclosed today are part of an effort to build credibility and show transparency, and do not alter the company's strategy.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:10 pm

PARA

PARAA

WBD

Skydance Media is reportedly in discussions for an all-cash bid for a majority stake in National Amusements, the parent company of Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA). The deal would also include a merger of Paramount Global with Skydance. The discussions are in early stages and may not proceed due to the complexity of the deal and Paramount's dual-class share structure. Paramount and Skydance have a history of partnerships on successful projects. Warner Bros. Discovery Inc (NASDAQ:WBD) also showed interest in merging with Paramount, but those discussions have not progressed.

Portfolio Pulse from Erica Kollmann

January 10, 2024 | 10:08 pm

BITB

Bitwise Asset Management is set to launch a new Spot Bitcoin ETF, ticker BITB, on January 11. The ETF will provide investors with exposure to Bitcoin without the need to directly purchase and hold the cryptocurrency. This launch comes amid growing interest in cryptocurrency investment vehicles and could potentially offer a more regulated and accessible way for investors to gain Bitcoin exposure.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:06 pm

AGI

Alamos Gold Inc. (NYSE:AGI) reported record annual gold production of 529,300 ounces for 2023, a 15% increase from 2022, and provided a three-year production and operating guidance. The company expects production growth and declining costs over the next few years, with a 7% growth anticipated by 2026. The Phase 3+ Expansion at Island Gold is on track, and the company is advancing other growth initiatives, including the development plan for PDA and Lynn Lake. Alamos Gold ended 2023 with strong financial performance, generating record revenues of $1.0 billion and increasing its cash position to $225 million while remaining debt-free. The company has increased its 2024 production guidance and expects total cash costs and AISC to remain flat in 2024 and decrease by 2026. Capital spending is projected to decrease by 46% by 2026 at existing operations. Alamos Gold has also increased its exploration budget to the highest level in its history.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:04 pm

DTE

DTE Energy has provided its operating earnings per share (EPS) guidance for 2024, projecting a range of $6.54 to $6.83. This forecast is in line with the estimated consensus of $6.65.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:03 pm

OGN

Shares of Organon & Co. (NYSE:OGN) rose after announcing the availability of XACIATO 2%, a vaginal gel. The product can be applied at any time, reduces leakage, increases retention time, and releases clindamycin gradually. The company emphasizes its commitment to women's health and innovation. OGN's stock increased by 6.17% to close at $17.20 on Wednesday.

Portfolio Pulse from Ryan Gustafson

January 10, 2024 | 10:01 pm

AAPL

The U.S. International Trade Commission (ITC) has opposed Apple Inc.'s motion to stay an import ban on some of its products pending an appeal. The ITC's decision could potentially lead to a ban on the import of certain Apple devices that infringe on a patent held by a competitor. Apple is likely to face challenges in its supply chain and sales if the ban is enforced.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:01 pm

KINS

Kingstone Companies, Inc. CEO Meryl Golden issued a letter to shareholders reviewing 2023 accomplishments and 2024 expectations. The company faced macro-economic challenges in 2023 but anticipates positive changes in 2024, including abating inflation, declining reinsurance rates, and falling interest rates. Kingstone's Non-Core business outside New York is expected to reduce its impact on the loss ratio from 7.2% in 2023 to 2.8% in 2024. The company has also achieved a significant reduction in its expense ratio, which is forecasted to drop from 36% in 2022 to 29% in 2024. Personal lines average premiums are expected to increase, leading to wider margins and higher underwriting profits.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:59 pm

TTGT

Trading for TTGT was halted and then resumed at 4:55 PM ET, with an update on quotation resumption, news, and resumption times.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:55 pm

SPY

In a recent speech, John Williams, President of the New York Federal Reserve, noted that financial markets are currently very sensitive to new data. This observation suggests that investors are closely monitoring economic indicators and adjusting their expectations accordingly. Williams did not comment on specific policy actions but emphasized the importance of data in shaping market reactions.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:52 pm