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.
Toward the end of trading Friday, the Dow traded up 0.25 percent to 17,309.73 while the NASDAQ dropped 0.17 percent to 4,585.44. The S&P also rose, gaining 0.12 percent to 2,013.71.
Leading and Lagging Sectors
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In trading on Friday, utilities shares were relative leaders, up on the day by about 0.27 percent. Top gainers in the sector included Enbridge (NYSE: ENB), up 2.2 percent, and NiSource (NYSE: NI), up 1.6 percent.
Basic materials shares fell 1.04 percent on Friday. Top losers in the sector included Cliffs Natural Resources (NYSE: CLF), down 5.5 percent, and Thompson Creek Metals Company (NYSE: TC), off 5.4 percent.
Top Headline
Oracle (NYSE: ORCL) reported downbeat fiscal first-quarter results and unexpectedly shuffled its top management.
Founder Lawrence J. Ellison stepped aside as CEO and will serve as company’s chairman, while presidents Safra A. Catz and Mark V. Hurd were named co-chief executives. The company also boosted its existing buyback program by an additional $13 billion.
Equities Trading UP
Concur Technologies (NASDAQ: CNQR) shares shot up 17.87 percent to $127.06 after the company agreed to be acquired by SAP (NYSE: SAP) subsidiary, SAP America, for $129 per share.
Shares of Dresser-Rand Group (NYSE: DRC) got a boost, shooting up 10.24 percent to $80.50 on report of a $85 per share bid from Siemens (OTC: SIEGY).
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Alibaba Group Holding (NYSE: BABA) shares were also up, gaining 35.59 percent to $92.20. Alibaba priced its initial public offering of 320,106,100 American depositary shares, each representing one of its ordinary shares, at a price to the public of US$68 per ADS.
Equities Trading DOWN
Shares of Red Hat (NYSE: RHT) were down 4.60 percent to $57.87. Red Hat reported better-than-expected second-quarter results and raised its FY15 forecast.
Yahoo! (NASDAQ: YHOO) shares tumbled 3.03 percent to $40.81 following the open of Alibaba.
Oracle (NYSE: ORCL) was down, falling 3.73 percent to $40.00 after the company reported downbeat fiscal first-quarter results and unexpectedly shuffled its top management. Analysts at Deutsche Bank downgraded Oracle from Buy to Hold and lowered the target price from $48 to $42.
Commodities
In commodity news, oil traded down 0.67 percent to $92.45, while gold traded down 0.86 percent to $1,216.40.
Silver traded down 3.55 percent Friday to $17.86, while copper fell 0.21 percent to $3.09.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.21 percent, the Spanish Ibex Index surged 0.10 percent, while Italy’s FTSE MIB Index declined 0.74 percent. Meanwhile, the German DAX rose 0.01 percent and the French CAC 40 fell 0.08 percent while UK shares gained 0.27 percent.
Economics
The Conference Board's index of leading indicators rose 0.20% in August, versus economists’ expectations for a 0.40% gain.
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.