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BTCUSD

MSTR

MicroStrategy Inc's CEO, Michael Saylor, has shared insights into the company's decision to invest in Bitcoin as a means to drive growth and protect capital. Saylor acknowledged that competing with tech giants like Google, Microsoft, and Apple was not viable for MicroStrategy. The company has acquired 6,067 Bitcoins during the third quarter for an average price of $27,531, bringing its total holdings to 158,400 Bitcoins at an average cost of $29,586 per coin. Saylor also expressed optimism about the future of Bitcoin, mentioning the upcoming halving in 2024 and the potential impact of spot ETFs.

Portfolio Pulse from Mehab Qureshi

November 07, 2023 | 11:04 am

LCID

RIVN

TSLA

Rivian Automotive Inc (NASDAQ:RIVN) is gradually reducing losses and moving towards profitability, despite Tesla CEO Elon Musk's warning of potential bankruptcy due to high spending. The company delivered 12,640 vehicles in Q2 2021, with a loss of $1.2 billion, marking a significant reduction in loss per vehicle. Rivian aims to achieve a positive gross profit by 2024, with increased production volume. The company has also outlined strategies to reduce costs, such as eliminating certain customization options.

Portfolio Pulse from Anan Ashraf

November 07, 2023 | 11:03 am

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) is facing a labor dispute as over 1,000 workers at one of its central England warehouses are on strike over wage disagreements. The strike is expected to continue on the following Wednesday and Thursday, as well as on November 24—Black Friday—a crucial day for Amazon's operations. This follows a year of broader industrial unrest across the U.K., with workers demanding higher wages to cope with inflation. Amazon announced last month that the minimum initial wage would increase by at least one pound per hour, with further increases planned for April next year.

Portfolio Pulse from Nabaparna Bhattacharya

November 07, 2023 | 10:59 am

FXI

INDA

SPY

USO

VGK

OPEC Secretary General has stated that the demand for oil continues to rise significantly. This could potentially impact the prices of oil-related ETFs.

Portfolio Pulse from Charles Gross

November 07, 2023 | 10:45 am

VAL

Valaris Ltd reported Q3 2023 revenues of $455.1 million, missing the consensus of $469.4 million. The lower results were due to lower-than-expected floater revenue efficiency and two contract commencement delays. However, the company got new contracts and extensions, with an associated contract backlog of around $465 million, increasing to $3.2 billion. Valaris repurchased $85 million of shares in Q3 and reiterated the 2023 share repurchase target at $200 million. The company's outlook is positive, expecting improved earnings in 2024 and 2025.

Portfolio Pulse from Lekha Gupta

November 07, 2023 | 10:44 am

ARKK

ROKU

Cathie Wood's Ark Innovation ETF (ARKK) sold 171,268 shares of its biggest holding, Roku (ROKU), on Monday, according to Bloomberg.

Portfolio Pulse from Charles Gross

November 07, 2023 | 10:20 am

SOLUSD

Solana's native token, SOL, has seen a 10% price correction, falling to $40 on Nov. 6 after failing to breach the $44.50 mark. This follows a 36.6% rise between Oct. 30 and Nov. 2. Despite recent developments such as the unveiling of Firedancer, a new client designed to boost speed and reduce hardware requirements for validators, and Solana’s network data being made available on Google Cloud BigQuery, challenges remain. Lido Finance announced its withdrawal from the Solana network due to financial unsustainability, and Solana's DApp deposits saw a 30% drop in 30 days. Issues of possible centralization have also surfaced.

Portfolio Pulse from Benzinga Neuro

November 07, 2023 | 10:08 am

ARBUSD

BLURUSD

ETHUSD

OPUSD

Crypto analyst Kaleo predicts a potential rise in the value of Ethereum (ETH) and three other altcoins: Arbitrum (ARB), Optimism (OP), and Blur (BLUR). He suggests that Ethereum could climb to around $2,100 after breaking its diagonal resistance at $1,900. ARB, a scaling solution for Ethereum, may rally up to $1.30 after flipping a key diagonal resistance into support. OP, a layer-2 protocol, is following a similar trajectory to ARB. BLUR, the native token of an NFT marketplace, is in an uptrend following a break through its diagonal resistance.

Portfolio Pulse from Benzinga Neuro

November 07, 2023 | 10:03 am

ACMR

ACM Research reported Q3 earnings of $0.57 per share, beating the analyst consensus estimate of $0.35 by 62.86%. However, the company's quarterly sales of $168.57 million missed the analyst consensus estimate of $173.69 million by 2.95%. This represents a 35.71% increase in earnings and a 26.07% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 10:01 am

BIDU

NVDA

Baidu has reportedly placed an order for AI chips from Huawei, shifting away from Nvidia. The order includes 1,600 of Huawei's Ascend 910 AI chips.

Portfolio Pulse from Charles Gross

November 07, 2023 | 9:47 am