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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Macro Focus
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U.S. stock futures traded higher in early pre-market trade. Futures for the Dow Jones Industrial Average rose 14 points to 18,023.00, while the Standard & Poor’s 500 index futures gained 2 points to 2,124.25. Futures for the Nasdaq 100 index rose 8.50 points to 4,732.50.
Oil prices traded higher as Brent crude futures rose 0.30 percent to trade at $47.24 per barrel, while US WTI crude futures also rose 0.37 percent to trade at $45.65 a barrel.
- Data on import and export prices for August will be released at 8:30 a.m. ET.
- The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
BZ News Desk Focus
Dr. Ron Farkas has left the U.S. Food & Drug Administration, people familiar with the matter told Benzinga. Farkas was the most vocal critic of Sarepta's (NASDAQ: SRPT) eteplirsen, although there were other FDA members who agreed there was little efficacy for the drug.
Click here to read everything you need to know form yesterday's Delivering Alpha event.
Sell-Side Themes
Exane BNP Paribas downgraded GlaxoSmithKline (NYSE: GSK) and AstraZeneca (NYSE: AZN), and upgraded Novo Nordisk (NYSE: NVO).
Sell-Side's Most Noteworthy Calls
- Morgan Stanley downgraded Coach (NYSE: COH) to Underweight.
- Citi upgraded Macy's (NYSE: M) to Buy.
- Oppenheimer upgraded F5 Networks (NASDAQ: FFIV) to Outperform.
- Raymond James started Aerie Pharmaceuticals (NASDAQ: AERI) at Strong Buy.
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Deal Talk
Bayer (OTC: BAYRY) won over Monsanto's (NYSE: MON) management with a $128 per-share cash offer to acquire the global seed market leader, a person familiar with the matter told Reuters, in a move to command more than a quarter of the combined world market for seeds and pesticides.
Vitae Pharma (NASDAQ: VTAE) will be purchased by Allergan (NYSE: AGN) for $21 per share in cash.
In The News
In his first solo appearance on the campaign trail Tuesday, President Barack Obama accused Republican nominee Donald Trump of adopting authoritarian Russian President Vladimir Putin as his “role model.”
One week into the NFL season and so far the league isn't celebrating as loudly as in past years. Ratings for the inaugural editions of "Thursday Night Football," "Sunday Night Football" and "Monday Night Football" are all down.
Blogosphere
Fractional Reserve Banking : After banks create money through lending, can they call on a central bank to send them cash? How is this done?
Trending
MON UVXY HLF SRPT YELP ASHR COH CXRX CRBP ED GOOG APC NFLX
Guess This Chart
- This company conceivably got good news for one of their main products on Tuesday night.
- The stock currently has Buy ratings at Needham, Wedbush, and Oppenheimer, and Sell ratings at SunTrust Robinson, Jefferies, and JMP Securities.
- Sympathy plays include Gilead Sciences (NASDAQ: GILD), PTCT Therapeutics (NASDAQ: PTCT) and Vertex Pharmaceuticals (NASDAQ: VRTX).
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.