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The SEC has postponed decisions on two cryptocurrency-related ETF applications: Hashdex's proposal to convert its Bitcoin futures ETF into a spot Bitcoin ETF and Grayscale's bid to launch an Ether futures ETF. The initial decision deadline of Nov. 17 has been extended, with no new date provided for Hashdex and Jan. 1, 2024, set for Grayscale. Despite historical rejections of similar products and concerns over market manipulation, the price of Bitcoin has risen by over 5% following the news.

Portfolio Pulse from Murtuza Merchant

November 15, 2023 | 8:31 pm

EQIX

Equinix (NASDAQ:EQIX) has delivered an average annual return of 18.89% over the past 20 years, outperforming the market by 11.37% annually. A $100 investment in EQIX 20 years ago would be worth $3,487.90 today. The company's current market capitalization stands at $73.19 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:30 pm

CRH

Over the past 5 years, CRH (NYSE:CRH) has produced an average annual return of 13.92%, outperforming the market by 2.66% annually. A $100 investment in CRH 5 years ago would be worth $218.07 today. CRH's market capitalization currently stands at $41.66 billion.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:30 pm

HNRA

HNR Acquisition Corp (NYSE:HNRA) has completed its acquisition of Pogo Resources, LLC, gaining control of the Grayburg-Jackson oil field in the Permian Basin. The field has significant production potential, with plans to increase output from 1,400 to 4,000 barrels per day in three years. Pogo's assets include 13,700 acres, 343 producing wells, and 207 injection wells. Pogo generated $35 million in revenue in 2022. HNRA's management team, with extensive industry experience, aims to grow the company and expand revenues and profits through strategic acquisitions and a hedging program to protect profits.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 8:20 pm

PXD

XOM

Pioneer Natural Resources Co (PXD) was downgraded by Mizuho Securities analyst Nitin Kumar from Buy to Neutral, maintaining a price target of $301. The downgrade reflects the pending acquisition by Exxon Mobil Corp (XOM). PXD's Q3 FY23 adjusted EPS was $5.83, surpassing consensus, but revenue fell short at $3.46 billion. The company raised its FY23 production guidance. Concerns include potential strategy missteps and underperformance on recoveries per lateral foot on new laterals. Q4 FY23 EBITDAX/CFPS estimates are above consensus. PXD shares dropped by 0.70% to $235.24.

Portfolio Pulse from Lekha Gupta

November 15, 2023 | 8:17 pm

FMX

Fomento Economico (NYSE:FMX) has seen a 7.69% decrease in short interest since its last report, with 1.04 million shares sold short, representing 0.48% of its float. The average time to cover these short positions is 1.5 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. FMX has less short interest compared to its peer group average of 7.03%.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:15 pm

PKX

POSCO Holdings (NYSE:PKX) has seen a 32.5% decrease in short interest since its last report, with 828 thousand shares sold short, representing 0.27% of its float. The short interest is below the peer group average of 3.85%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in the stock price.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:15 pm

CAH

Cardinal Health (NYSE:CAH) has seen a 3.31% increase in short interest since the last report, with 6.93 million shares sold short, representing 3.74% of available shares. It would take about 3.77 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, Cardinal Health has a lower short interest percentage of float, with the peer group average at 4.79%.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 8:15 pm

BIDU

Baidu Inc (NASDAQ:BIDU) shares increased by 3.4% following JD.com's positive third-quarter results, which showed a slight decrease in net product revenue but a significant increase in net service revenues. Investors are optimistic about the Chinese e-commerce sector, potentially benefiting Baidu as well.

Portfolio Pulse from Henry Khederian

November 15, 2023 | 8:11 pm

BBY

TGT

Best Buy Co., Inc. (NYSE:BBY) stock rose in response to Target's (NYSE:TGT) strong Q3 financial results. Target's earnings of $2.10 per share surpassed estimates, and its revenue of $25.40 billion also beat expectations. Despite a 4.9% drop in comparable sales, same-day services grew by 8%. Target forecasts Q4 earnings between $1.90 and $2.60 per share, with a mid-single digit decline in comparable sales. Best Buy is expected to report its Q3 earnings on Nov. 21, with an estimated $1.19 per share and $9.91 billion in revenue. BBY shares increased by 3.40% to $68.74.

Portfolio Pulse from Ryan Gustafson

November 15, 2023 | 8:06 pm