Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Following the market opening Tuesday, the Dow traded down 0.02 percent to 17,028.20 while the NASDAQ surged 0.06 percent to 4,521.73. The S&P also rose, gaining 0.13 percent to 1,986.67.
Leading and Lagging Sectors
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In trading on Tuesday, energy shares were relative leaders, up on the day by about 0.59 percent. Top gainers in the sector included Bill Barrett (NYSE: BBG), up 10.9 percent, and Abraxas Petroleum (NASDAQ: AXAS), up 7 percent.
Telecommunications services shares fell 0.78 percent in today’s trading. Meanwhile, top decliners in the sector included China Unicom (Hong Kong) (NYSE: CHU), down 3.7 percent, and China Mobile (NYSE: CHL), off 3.6 percent.
Top Headline
FactSet Research Systems (NYSE: FDS) reported a rise in its fiscal fourth-quarter profit.
The Norwalk, Connecticut-based company posted a quarterly profit of $55.4 million, versus a year-ago profit of $51 million. Its per-share earnings surged to $1.31 versus $1.16. Excluding special items, FactSet earned $1.18 per share in the year-ago period.
Its revenue gained 9% to $238.7 million. FactSet Research in June expected earnings of $1.30 to $1.32 per share on revenue of $235 million to $240 million. However, analysts were expecting earnings of $1.30 per share on revenue of $236.99 million.
Equities Trading UP
Glimcher Realty Trust (NYSE: GRT) shares shot up 30.41 percent to $13.81 after Washington Prime Group (NYSE: WPG) announced its plans to acquire Glimcher Realty Trust for $4.3 billion in a stock and cash deal.
Shares of SodaStream International (NASDAQ: SODA) got a boost, shooting up 3.24 percent to $32.50 following TheMarker story suggesting that the company is in talks with British Fund for $840 million sale.
Entropic Communications (NASDAQ: ENTR) shares were also up, gaining 4.38 percent to $2.86 after the company announced its plans to explore strategic alternatives and lowered its Q3 forecast.
Equities Trading DOWN
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Shares of Lehigh Gas Partners LP (NYSE: LGP) were down 5.39 percent to $33.50 after the company priced 3.6 million units at $33.99 per unit for net proceeds of $117.4 million.
Analogic (NASDAQ: ALOG) shares tumbled 4.55 percent to $68.24 after the company reported weaker-than-expected fourth-quarter revenue. However, the company reported upbeat quarterly earnings. Brean Capital downgraded Analogic from Buy to Hold and removed the price target of $95.00.
Alcoa (NYSE: AA) was down, falling 1.28 percent to $16.18 after the company reported a proposed public offering of 25 million in mandatory convertible preferred shares.
Commodities
In commodity news, oil traded up 0.15 percent to $93.06, while gold traded up 0.04 percent to $1,235.10.
Silver traded up 0.40 percent Tuesday to $18.70, while copper rose 0.41 percent to $3.10.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 fell 0.54 percent, the Spanish Ibex Index declined 0.52 percent, while Italy’s FTSE MIB Index slipped 0.40 percent. Meanwhile, the German DAX fell 0.44 percent and the French CAC 40 fell 0.58 percent while UK shares dropped 0.43 percent.
Economics
The ICSC-Goldman Store Sales Index declined 2.6% in the week ended Saturday versus the earlier week.
The producer price index remained flat in August versus July, while the index gained 1.8% y/y in August.
The Johnson Redbook Retail Sales Index dropped 0.4% in the first two weeks of September versus August.
The Federal Open Market Committee will begin its two-day meeting today.
The Treasury is set to auction 4-week and 52-week bills.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.