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Treasury Secretary Janet Yellen emphasized the importance of focusing on the long-term inflation trend, stating inflation is 'moving decisively down' despite a recent report showing a rise in January's inflation figures. The S&P 500 and Nasdaq experienced significant sell-offs following the report but saw partial recoveries the next day. Yellen highlighted improvements in the economy, including lower gas prices, declining prices for eggs and cars, and wage increases, particularly for lower-income workers. She also discussed the U.S. economy's resilience compared to other advanced economies and the focus on supporting middle-class families and investments in clean energy.

Portfolio Pulse from Dustin Blitchok

February 14, 2024 | 7:01 pm

WBTCUSD

Wrapped Bitcoin (WBTC) experienced a 4.67% price increase over the past 24 hours, reaching $51,427.00. This marks an 18% gain over the past week from $43,607.24. The coin's all-time high is $70,643.00. Trading volume for WBTC has risen by 4.0% over the last week, while its circulating supply decreased by 0.57%, now estimated to be at 100% of its max supply of 156 thousand. WBTC's market cap ranks it #16 at $8.08 billion.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:01 pm

CWST

Casella Waste Systems (CWST) is scheduled to release its quarterly earnings report on February 15, 2024. Analysts predict an EPS of $0.16. The company's past earnings performance shows mixed results with both misses and beats in EPS estimates, leading to varied stock price reactions. Shares of CWST have increased by 12.94% over the last 52 weeks, indicating a generally positive sentiment among long-term shareholders. Investors will be keenly watching for not only the earnings results but also the company's guidance for future growth.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:01 pm

DCO

Ducommun (NYSE:DCO) is scheduled to release its quarterly earnings report on February 15, 2024, with an estimated EPS of $0.62. Historical data shows mixed reactions to past earnings, with the last quarter beating estimates but resulting in a 4.74% share price drop. Over the last year, DCO shares have decreased by 7.52%, indicating potential concern among long-term shareholders ahead of this earnings announcement.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:01 pm

EIG

Employers Holdings (NYSE:EIG) is scheduled to release its quarterly earnings report on February 15, 2024, with an expected EPS of $1.08. Analysts and investors will be closely watching for not only an earnings beat but also positive guidance for future growth. Historical data shows a mixed reaction to past earnings reports, with share price movements varying based on performance relative to expectations. Currently, shares are trading at $42.27, down 1.65% over the last year, indicating potential concern among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:01 pm

IDA

Idacorp (NYSE:IDA) is scheduled to release its quarterly earnings report on February 15, 2024, with an estimated EPS of $0.60. Analysts and investors are keen on whether the company will surpass this estimate and provide positive guidance for the next quarter. Historical data shows Idacorp's performance has occasionally led to share price movements post-earnings announcement. Currently, shares are trading at $86.94, marking a 15.68% decline over the last year, indicating long-term shareholders' dissatisfaction ahead of the earnings release.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:00 pm

DOGE-USD

Dogecoin (CRYPTO: DOGE) has seen a 5.56% increase in price over the past 24 hours, reaching $0.09. Over the last week, it has risen over 7.0%, moving from $0.08. The trading volume for DOGE has surged 176.0% in the past week, while its circulating supply slightly decreased by 0.01%, now standing at 143.07 billion. Dogecoin's market cap ranks it as the 11th largest, at $12.22 billion.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 7:00 pm

SONY

Sony Group Corp. (NYSE:SONY) acknowledges the PlayStation 5 (PS5) is entering the latter stage of its life cycle, with sales projections reduced from 25 million to 21 million units for the current fiscal year. The company cites disappointing sales during the 2023 holiday quarter despite promotions. Sony anticipates a decline in PS5 sales momentum starting the next fiscal year (April 2024 - March 2025). Major PlayStation franchise releases are on hold until April 2025, impacting titles like 'God of War Ragnarok' and 'Marvel’s Spider-Man 2'. Despite this, Sony's gaming division reported record quarterly profits with $9.5 billion in revenue, driven by strong PS5 and PS4 game sales. Sony plans to diversify its game lineup with exclusive 'second-party' titles to boost PS5's appeal.

Portfolio Pulse from Franca Quarneti

February 14, 2024 | 6:59 pm

AKAM

COIN

IWM

UBER

U.S. stocks rebounded with the S&P 500 and Nasdaq 100 up by 0.4% and 0.5% respectively, driven by positive corporate earnings. The iShares Russell 2000 ETF (IWM) saw a significant rally of 1.7%. Bitcoin surpassed a $1 trillion market value. In the commodities market, U.S. natural gas prices dropped. Notable stock movements included Uber Technologies Inc. (UBER) and Akamai Technologies Inc. (AKAM) due to their earnings reports. Other companies like MGM, IQVIA, Charler River Laboratories, Kraft Heinz, Welltower, Airbnb, Lyft, and QuidelOrtho also reacted to earnings. Crypto-related stocks such as Coinbase, Marathon Digital, and Riot Platforms saw rallies.

Portfolio Pulse from Piero Cingari

February 14, 2024 | 6:51 pm

QQQ

Gene Munster of Deepwater Asset Management predicts a multi-year bull run for the Nasdaq, driven by AI, potentially doubling or tripling its value in 2 years. The Nasdaq Composite and Nasdaq 100, tracked by Invesco QQQ Trust (QQQ), have seen significant gains, attributed to AI adoption. Munster ranks AI's impact near that of electricity, suggesting a transformative effect on the market. He anticipates a bubble similar to the dot-com era but driven by AI, with QQQ currently trading around 28 times earnings.

Portfolio Pulse from Adam Eckert

February 14, 2024 | 6:48 pm