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ETHDYDX

The dYdX token (CRYPTO: ETHDYDX) has surged over 20% in anticipation of a token unlock for early investors and team members. The dYdX platform, initially a DEX, launched its own blockchain, leading to a price increase. The upcoming unlock will increase the circulating supply significantly, which could impact the market.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:29 am

ETH-USD

SHIB-USD

The Shiba Inu ecosystem Shibarium has partnered with the Manny Pacquiao Foundation to aid in fundraising and operations. Shibarium, a layer 2 blockchain built on Ethereum, offers faster and cheaper transactions, which could benefit the foundation's charitable activities. Despite initial launch issues, Shibarium is processing thousands of transactions daily. SHIB, the ecosystem's token, has seen a 4.70% increase in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:09 am

AVAXUSD

ETHUSD

SOLUSD

Ether (ETH) has surged over 3% in the last 24 hours, now trading above $2,000. Ethereum's competitors, Solana (SOL) and Avalanche (AVAX), have seen significant gains in 2023, with SOL up 566% and AVAX up 87% year to date. SOL's price recovery follows a period of instability linked to Sam Bankman-Fried's legal issues, while AVAX's rise is attributed to interest from JPMorgan and Apollo in using blockchain for tokenizing funds.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 3:31 am

BTCUSD

DOGEUSD

ETHUSD

The cryptocurrency market saw a strong rebound with Bitcoin nearing an 18-month high, surpassing $37,000, after a brief drop below $35,000. Ethereum and Dogecoin also posted gains. Over $110 million in short liquidations occurred as a result, with $51 million in BTC shorts and $16 million in ETH shorts liquidated. The S&P 500, Nasdaq, and Dow Jones also rose, while the 10-year U.S. Treasury yield increased. Analysts suggest BTC and ETH could become part of 401k retirement plans, indicating a bullish long-term outlook despite short-term volatility.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 2:50 am

BABA

CSCO

PANW

TGT

WMT

On a positive trading day, Alibaba (BABA) rose 3.82% after peer JD.Com's Q3 results and regulatory inquiries into its logistics arm. Palo Alto Networks (PANW) fell 1.91% post Q1 earnings despite beating estimates. Cisco (CSCO) saw a marginal 0.21% increase after Q1 results with weak guidance. Walmart (WMT) grew 1.28% before its earnings report, and Target (TGT) jumped 17.81% ahead of its Q3 financial release.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 2:19 am

MSFT

Wedbush analyst Dan Ives has increased the price target for Microsoft Corporation (NASDAQ:MSFT) from $400 to $425, citing the potential for 'game-changing' AI monetization from its Co-Pilot AI product. Microsoft also announced the development of two custom chips, Maia and Cobalt, to enhance its Azure cloud service and reduce internal costs, respectively. These developments position Microsoft as a 'Top Pick' for 2024 and reflect the company's strategic moves in AI amidst a global chip shortage.

Portfolio Pulse from Ananya Gairola

November 16, 2023 | 1:28 am

TTWO

Take-Two Interactive Software Inc's CEO Strauss Zelnick proposed a new algorithm for video game pricing based on the length and engagement of a game during a financial call. The algorithm would calculate the cost of a game by considering the per-hour value multiplied by the anticipated play hours and the perceived value of ownership. Zelnick noted that while gamers get great deals from extensive play, publishers lack direct control over retail prices, which could complicate the implementation of this pricing strategy. The impact on the price of the upcoming Grand Theft Auto 6 (GTA 6) was not specified, but it could be higher if the algorithm is applied.

Portfolio Pulse from Franca Quarneti

November 15, 2023 | 11:06 pm

XRT

Historical data shows that the S&P 500 typically experiences gains during November, ranking as the third-best month with an average increase of 0.88%. Specifically, Thanksgiving week has shown an average gain of 0.54% over the last 50 years, with a 68% chance of positive returns. The SPDR S&P Retail ETF (XRT) has seen an average gain of 1.72% during this period. However, investors are cautioned not to rely solely on Black Friday sales as an indicator of Q4 performance.

Portfolio Pulse from Piero Cingari

November 15, 2023 | 10:02 pm

HOLI

Hollysys Automation Technologies (HOLI) reported a 40.54% increase in adjusted EPS to $0.52 for Q1, up from $0.37 YoY. Sales rose 17.56% to $199.90M from $170.04M YoY.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 10:02 pm

USDP

USD Partners LP has announced that trading of its stock on the NYSE has been suspended. The company expects that its stock will begin trading on the OTC exchange starting November 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:54 pm