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BTC

ETH

Economist Henrik Zeberg predicts a favorable environment for cryptocurrencies due to a weakening U.S. Dollar, citing the declining U.S. Dollar Index and bond yields as indicators. This scenario is expected to benefit the crypto market, particularly Bitcoin, which historically inversely correlates with the dollar's value. Bitcoin's recent bullish trend and surpassing 1 billion on-chain transactions signal potential growth, with Bitcoin and Ethereum experiencing price increases.

Portfolio Pulse from aniketverma@benzinga.com

May 06, 2024 | 12:34 pm

KRYS

Krystal Biotech shares are trading lower following the announcement of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:32 pm

FMC

FMC Corporation (NYSE:FMC) is set to release its Q1 earnings after the close on May 6, with expected earnings of 33 cents per share, down from $1.77 a year ago, and projected revenue of $1.01 billion, down from $1.34 billion. The company declared a quarterly dividend of 58 cents per share, maintaining a dividend yield of 3.75%. To earn a monthly dividend income of $500, an investor would need approximately 2,586 shares, equating to $159,944 worth of FMC stock. The article also explains how dividend yield changes with stock price and dividend payment adjustments. FMC shares rose 2.2% to close at $61.85 recently.

Portfolio Pulse from Avi Kapoor

May 06, 2024 | 12:32 pm

BABA

CGRO

MA

PGJ

Alibaba Group's fintech affiliate Ant Group is expanding its global reach with Alipay+, aiming to unify mobile payments worldwide. Launched in 2020, Alipay+ connects 88 million merchants across 57 countries to over 1.5 billion consumer accounts from 25+ e-wallets and banking apps. The platform facilitates payments with users' home-country apps abroad, partnering with services like SGQR and ZeroPay. Ant Group's strategy includes investments in Southeast Asia and expansions into Europe and the Middle East. Mastercard Inc has partnered with Alipay to enhance cross-border remittance capabilities. Despite Alibaba's stock decline over the last 12 months, analysts remain positive about its potential for recovery and growth in cross-border volumes and the public cloud market.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 12:32 pm

MFA

MFA Financial (MFA) reported Q1 earnings of $0.35 per share, missing the consensus estimate of $0.39, and sales of $47.81M, below the estimate of $54.56M. Despite the miss, earnings and sales increased from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:32 pm

LYRA

Trading of Lyra Therapeutics shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:30 pm

VST

Vistra shares are trading higher following the announcement that the company will join the S&P 500.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:29 pm

LYRA

Trading for LYRA was halted but has now resumed as of 8:25:00 AM ET, following an update on quotation resumption times.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:25 pm

RTH

TGT

XLP

Target Corp is expanding its private-label brand sales beyond its own stores, starting with its Cat & Jack brand in Canada through Hudson's Bay Co. The company is exploring further expansion in Europe and the Americas, aiming to rebound from declining sales by leveraging the higher margins of private-label goods. Despite challenges from reduced consumer spending and product controversies, Target plans to boost performance through store expansion, a revamped loyalty program, and exclusive offerings. This strategy aligns with competitors like Walmart and Kroger, focusing on private-label products. Target's stock has seen a modest gain, and its movements can impact related ETFs such as the VanEck Retail ETF and the Consumer Staples Select Sector SPDR Fund.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 12:21 pm

EFSH

1847 Holdings has engaged Shareholder Intelligence Services to investigate potentially improper and illegal trading activity in its common stock, aiming to protect shareholder interests and ensure fair trading practices.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:20 pm