Streetbeat News

Acquisitions Mergers

COIN

Bitcoin surged to $48,000, driven by spot Bitcoin ETF inflows, marking its third-best inflow day. Ethereum and Avalanche also saw movements, with Avalanche gaining 3.3%. MicroStrategy's Bitcoin holdings increased by 50% to $9 billion, and Coinbase Global's stock rose 7.2% amid the crypto rally. The global cryptocurrency market cap increased by 1.25% to $1.78 trillion. Analysts remain bullish on Bitcoin, anticipating a rally to $50,000 leading up to the Bitcoin halving event in April 2024.

Portfolio Pulse from Khyathi Dalal

February 10, 2024 | 2:08 pm

KARS

LCID

NKLA

RIVN

TSLA

Electric vehicle stocks had a mixed week, with Tesla seeing a sales drop in China but an increase year-over-year. Rivian introduced new battery packs to lower prices, while Ford aims for the low-end EV market. Lucid partnered with Saks for exclusive demos, and Nikola rejected nominees from its convicted founder. The KraneShares EV ETF saw a slight weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 10, 2024 | 1:52 pm

DIS

PLTR

PYPL

TSLA

Benzinga's analysis highlights the S&P 500 and Nasdaq 100's positive performance, driven by AI optimism. Treasury Secretary Janet Yellen expressed concerns about digital assets and the commercial real estate sector, advocating for regulatory action and fiscal sustainability. Bullish views were shared on Tesla, Palantir, and a meme coin named Floki, while bearish perspectives focused on the market dominance of tech giants, Disney's diversity policies, and PayPal's conservative outlook for 2024.

Portfolio Pulse from Michael Cohen

February 10, 2024 | 1:39 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

TSLA

The escalating geopolitical tensions between China and Taiwan pose a significant risk to the Magnificent Seven tech giants, including Apple, Amazon, NVIDIA, Tesla, Meta Platforms, Alphabet, and Microsoft, as per Jeremy Grantham's GMO. These companies, with substantial revenue exposure and ties to Taiwan's chip industry, could face challenges in accessing crucial technologies for AI development.

Portfolio Pulse from Ananya Gairola

February 10, 2024 | 3:59 am

ACB

Aurora Cannabis Inc (NASDAQ:ACB) CEO Miguel Martin discussed the company's record earnings and strategic global expansion on Benzinga's Cannabis Insider podcast. Aurora reported its fifth consecutive quarter of adjusted EBITDA positivity, a 41% increase in international medical cannabis revenue, and a significant reduction in losses from the previous year. The acquisition of MedReleaf Australia is highlighted as a key move in Aurora's strategy, aiming to lead in high-margin, clinician-led markets. Aurora boasts a strong financial position with over $200 million in the balance sheet and no debt, focusing on innovation, quality, and patient care in the medical cannabis sector.

Portfolio Pulse from Patricio Liddle

February 09, 2024 | 11:34 pm

MSFT

SGAMY

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

CMP

MTAL

NEXA

PLL

JPMorgan Chase analyst Bill Peterson maintained a Neutral rating on Piedmont Lithium Inc. (PLL) and lowered the price target from $25 to $15. Metals Acquisition Limited (MTAL) announced its IPO in Australia was oversubscribed, with proceeds increased to A$325 million. Nexa Resources S.A. (NEXA) reported its 2023 exploration results, achieving 97% of planned activities. Compass Minerals International Inc. (CMP) reported Q1 fiscal 2024 results with a 67% increase in Plant Nutrition sales and announced a 6% reduction in 2024 capital expenditure.

Portfolio Pulse from Austin DeNoce

February 09, 2024 | 9:36 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

NYCB

PLTR

TSLA

The S&P 500 index surpassed 5,000 points, driven by AI optimism. The 'Magnificent Seven' tech giants reached a $13 trillion market cap, while Palantir led the Russell 1000 with a 40% surge. Tesla's status is threatened as its market cap falls. Meta Platforms celebrates Facebook's 20th anniversary with significant returns. Novo Nordisk's weight-loss drugs impact the food industry, and Bill Ackman launches a retail investor fund. Amazon's Alexa faces privacy concerns amid AI enhancements.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 9:08 pm

AYRWF

CURLF

GTBIF

PLNHF

VRNOF

As Super Bowl LVIII approaches in Las Vegas, Nevada's cannabis industry is poised to benefit from increased visitor traffic, thanks to legislative reforms and strategic market positioning. The state has raised legal possession limits and removed medical license requirements for retailers. Nevada's cannabis market, valued at $850 million, is stabilizing with slight sales fluctuations but overall strong economic indicators. The market features 104 dispensaries with high revenue per store and wholesale prices. Leading brands and public multi-state operators (MSOs) like AYR Wellness, Curaleaf Holdings, Green Thumb Industries, and Planet 13 Holdings are key players. Planet 13 stands out for maintaining its market share and enhancing customer experience with innovative offerings.

Portfolio Pulse from Nicolás Jose Rodriguez

February 09, 2024 | 8:58 pm

SHCO

Soho House shares surged following the announcement that its board is evaluating transactions that could lead to the company going private in fall of 2023.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:50 pm