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ETHUSD

On Sunday, 1,809.40 Ether (ETH) worth $3,056,867 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was 0.98%.

Portfolio Pulse from Benzinga Insights

October 23, 2023 | 6:00 pm

ENPH

SEDG

Enphase Energy Inc (ENPH) shares have dropped by 21.7% over the past five sessions, possibly due to volatility in solar-related stocks. This is in sympathy with SolarEdge Technologies Inc (SEDG), which recently issued a weak preliminary third-quarter outlook and lowered its non-GAAP gross margin guidance. SolarEdge's financial difficulties could signal potential issues for Enphase Energy, raising concerns about Enphase's ability to sustain profitable margins.

Portfolio Pulse from Henry Khederian

October 23, 2023 | 5:59 pm

ASAN

AYX

CRM

MSFT

MTTR

PCOR

Piper Sandler analyst Brent A. Bracelin has lowered ratings and revised estimates for several Cloud Applications and Analytics stocks due to concerns about near-term demand stabilization trends and a potential slowdown in unique visitor growth. Despite these concerns, the analyst still favors Microsoft Corp and Procore Technologies Inc. Salesforce Inc, Unity Software Inc, Asana Inc, Alteryx Inc, and Matterport Inc have all seen their ratings and price targets lowered.

Portfolio Pulse from Lekha Gupta

October 23, 2023 | 5:47 pm

VHAQ

Shares of Viveon Health Acquisition Corp. have been halted due to pending news.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 5:45 pm

ALGS

Aligos Therapeutics Inc (NASDAQ:ALGS) shares dropped by 15.8% after the company announced $92 million in private placement financing. The funding, led by a life sciences investment firm and involving various institutional investors, including Armistice Capital and Roche Venture Fund, will support the development of Aligos' drug candidates and research for expanding their drug pipeline. The company believes this funding will sustain its operations through 2025.

Portfolio Pulse from Henry Khederian

October 23, 2023 | 5:44 pm

CCG

CNFR

FGFPP

GOCO

KMPR

MCY

MHLD

MRAI

OXBR

SLQT

TIRX

Insurance stocks showed mixed performance in Monday's intraday session. Gainers included GoHealth (GOCO), Marpai (MRAI), Oxbridge Re Holdings (OXBR), Cheche Group (CCG), SelectQuote (SLQT), and F&G Annuities & Life (FG). Losers included Conifer Holdings (CNFR), Maiden Hldgs (MHLD), FG Finl Gr (FGFPP), Mercury General (MCY), Tian Ruixiang Holdings (TIRX), and Kemper (KMPR).

Portfolio Pulse from Benzinga Insights

October 23, 2023 | 5:40 pm

CYBN

DMTTF

Psychedelics companies Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTCQB:DMTTF) have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The deal is seen as a significant milestone for Cybin, positioning it as a leader in the psychedelics sector. The combined company now has the industry’s largest deuterated DMT pipeline program and a large IP portfolio in the psychedelic drug development space. The merger is expected to accelerate innovation in the industry and deliver enhanced value for shareholders.

Portfolio Pulse from Lara Goldstein

October 23, 2023 | 5:39 pm

DIS

HAS

Hasbro, Inc. (NASDAQ:HAS) has expanded its relationship with Marvel, a subsidiary of Walt Disney Company (NYSE:DIS), to develop collectible products and tentpole sets for the trading card game, Magic: The Gathering. The first set based on Marvel's characters will appear globally in 2025. HAS shares are trading lower by 2.32% at $54.76.

Portfolio Pulse from Shivani Kumaresan

October 23, 2023 | 5:38 pm

ELF

IEP

NWL

Raymond James analyst Olivia Tong has upgraded e.l.f. Beauty Inc (ELF) to 'Strong Buy' from 'Outperform' with a lowered price target of $140 from $145, expecting the company to maintain growth momentum. On the other hand, Newell Brands Inc (NWL) was downgraded to 'Outperform' from 'Strong Buy' with a cut price target to $10 from $13 due to a challenging sales recovery and other factors. Icahn Enterprises LP (IEP) was also mentioned in relation to NWL's lowered outlook.

Portfolio Pulse from Lekha Gupta

October 23, 2023 | 5:35 pm

BAC

COIN

JPM

KEY

PNC

RJF

SCHW

TFC

WAL

The article reports on the options activity of 10 financial stocks in today's session. The stocks include Bank of America (BAC), Charles Schwab (SCHW), Citigroup (C), Coinbase (COIN), Western Alliance Bancorp (WAL), JPMorgan Chase (JPM), Raymond James Financial (RJF), KeyCorp (KEY), Truist Financial (TFC), and PNC Financial Services (PNC). The article provides details on the type of options trade, sentiment, expiration date, strike price, total trade price, open interest, and volume for each stock.

Portfolio Pulse from Benzinga Insights

October 23, 2023 | 5:35 pm