March 2, 2016 12:08 PM | 3 min read |
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.
Midway through trading Wednesday, the Dow traded down 0.05 percent to 16,856.34 while the NASDAQ declined 0.24 percent to 4,678.43. The S&P also fell, dropping 0.05 percent to 1,977.33.
Leading and Lagging SectorsOn Wednesday, basic materials shares rose by 1.63 percent. Top gainers in the sector included
LSB Industries, Inc. (NYSE: LXU),
L.B. Foster Co (NASDAQ: FSTR), and
AK Steel Holding Corporation (NYSE: AKS). In trading on Wednesday, cyclical consumer goods & services shares fell by 0.29 percent. Meanwhile, top losers in the sector included
Kona Grill Inc (NASDAQ: KONA), down 15 percent, and
Big 5 Sporting Goods Corporation (NASDAQ: BGFV), down 11 percent.
Top Headline Abercrombie & Fitch Co. (NYSE: ANF) reported upbeat results for its fourth quarter. Abercrombie & Fitch's quarterly net income surged 30.1 percent to $57.7 million. Excluding items, the company earned $1.08 per share.Its net sales slipped 0.6 percent to $1.11 billion, while sales at stores open at least 12 months increased 1 percent in the quarter. However, analysts were expecting earnings of $0.99 per share on revenue of $1.10 billion.
Equities Trading UP Everyday Health Inc (NYSE: EVDY) shares shot up 25 percent to $5.82 on stronger-than-expected Q4 results. Shares of
Checkpoint Systems, Inc. (NYSE: CKP) got a boost, shooting up 29 percent to $10.19 after the company agreed to be acquired by CCL Industries for $10.15 per share in cash.
Darling Ingredients Inc (NYSE: DAR) shares were also up, gaining 27 percent to $11.63. Darling Ingredients reported Q4 earnings of $0.54 per share on revenue of $809.7 million.
Equities Trading DOWN Kona Grill Inc (NASDAQ: KONA) shares dropped 15 percent to $12.79. Kona Grill reported a Q4 loss of $0.18 per share on restaurant sales of $38.066 million.Shares of
Big 5 Sporting Goods Corporation (NASDAQ: BGFV) were down 11 percent to $11.86. Big 5 Sporting Goods reported upbeat earnings for its fourth quarter, but the company issued a weak earnings outlook.
Northwest Pipe Company (NASDAQ: NWPX) was down, falling around 17 percent to $8.62. Northwest Pipe reported a Q4 loss of $1.43 per share on revenue of $45.6 million.
CommoditiesIn commodity news, oil traded up 1.25 percent to $34.83, while gold traded up 0.58 percent to $1,238.00. Silver traded up 1.48 percent Wednesday to $14.98, while copper rose 1.33 percent to $2.17.
EurozoneEuropean shares were mostly higher today. The eurozone's STOXX 600 gained 0.47 percent, the Spanish Ibex Index climbed 1.81 percent, while Italy's FTSE MIB Index jumped 0.95 percent. Meanwhile, the German DAX climbed 0.51 percent, and the French CAC 40 rose 0.28 percent, while U.K. shares fell 0.26 percent.
EconomicsUS private sector added 214,000 jobs in February, according to ADP. However, economists were expecting an addition of 185,000 jobs.Crude oil supplies gained 10.4 million barrels for the week ended February 26, the U.S. Energy Information Administration reported. However, analysts expected a rise of 2.5 million barrels. Gasoline supplies slipped 1.5 million barrels, while distillate stockpiles rose 2.9 million barrels last week.The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.
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.
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