Streetbeat News

Stock Prices

UUP

In February 2024, U.S. inflation rose to 3.2%, exceeding expectations and dampening hopes for a June Fed rate cut. The CPI's year-over-year increase and the core CPI's monthly rise both surpassed forecasts, affecting market predictions and leading to a surge in the Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP). Treasury yields increased, and S&P 500 futures traded lower, indicating market adjustments to the unexpected inflation data.

Portfolio Pulse from Piero Cingari

March 12, 2024 | 12:35 pm

UVE

Universal Insurance Holdings has announced a new share repurchase authorization of $20 million. This move allows the company to buy back its own shares, potentially increasing the value of remaining shares and signaling confidence in its financial health.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:33 pm

SPY

The USA Core Consumer Price Index (CPI) for February was reported at 3.8%, slightly above the estimated 3.7% and below the previous month's 3.9%.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:31 pm

SPY

The Consumer Price Index (CPI) for February showed a year-over-year increase of 3.2%, slightly above the expected 3.1% and the previous month's 3.1%.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:30 pm

SPY

The USA Consumer Price Index (CPI) for February increased by 0.4%, matching the estimated 0.4% and showing a slight increase from the previous month's 0.3%.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:30 pm

BTCUSD

MSTR

Bernstein analysts predict Bitcoin (BTC) will reach $150,000 by 2025, following a recent price surge. They recommend buying bitcoin mining stocks to leverage the expected rally, highlighting that bitcoin miners will benefit the most from institutional interest. Despite Bitcoin's rally, mining stocks have lagged, with investors favoring spot ETFs over mining stocks due to halving-related risks. Bitcoin was trading at $71,968.03 at the time of the article.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 12:16 pm

HESM

Hess Midstream LP (HESM) announced a $100M repurchase of Class B units from its sponsors, Hess Corporation and Global Infrastructure Partners. This move, unanimously approved by the Board and its conflicts committee, is part of Hess Midstream's strategy to enhance shareholder returns and maintain a strong balance sheet. The repurchase is expected to reduce total unit count by over 20%, increase distributable cash flow per Class A share, and support distribution growth above 5% annually through 2026. The transaction will be funded through existing credit facilities and is expected to close on March 14, 2024.

Portfolio Pulse from Happy Mohamed

March 12, 2024 | 12:14 pm

MAIN

NYCB

WU

Wall Street's most accurate analysts recommend holding three financial stocks with over 6% dividend yields: New York Community Bancorp, Inc. (NYCB), Main Street Capital Corporation (MAIN), and The Western Union Company (WU). These recommendations come amidst market turbulence, with detailed analyst ratings and recent news affecting each company.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 12:12 pm

HGAS

INHD

The article highlights Global Gas Corporation (HGAS) and Inno Holdings Inc. (INHD) as the top 2 oversold materials stocks with potential for recovery. HGAS's stock fell 28% with an RSI of 28.52, while INHD announced a revolutionary Mobile Factory, leading to a 21% stock decrease and an RSI of 26.18.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 12:11 pm

ORCL

RNLX

SGLY

Oracle Corporation (NYSE:ORCL) shares surged 13.4% in pre-market trading after reporting fiscal third-quarter earnings that exceeded expectations, with a 7% year-over-year revenue increase to $13.3 billion. Other stocks also showed significant movement in pre-market trading, with notable gainers including Singularity Future Technology Ltd. (NASDAQ:SGLY) and Nukkleus Inc. (NASDAQ:NUKK), and losers such as Renalytix Plc (NASDAQ:RNLX) and CytomX Therapeutics, Inc. (NASDAQ:CTMX).

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 12:11 pm