Streetbeat News

Acquisitions Mergers

SHCO

Soho House shares surged after the company announced its board is evaluating transactions that could lead to it becoming private in fall 2023.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:42 pm

SMH

The Biden-Harris Administration plans to invest over $5 billion in semiconductor-related R&D and workforce development, including in the National Semiconductor Technology Center (NSTC), as part of the CHIPS and Science Act. This investment aims to advance U.S. leadership in semiconductor R&D, reduce commercialization costs, bolster national security, and support semiconductor job creation. The NSTC, a public-private consortium, will focus on innovation, workforce development, and lowering R&D participation barriers. Additional investments include $200 million in a CHIPS Manufacturing USA Institute and up to $300 million in advanced packaging R&D.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 8:13 pm

SYBX

Synlogic Inc (NASDAQ:SYBX) stock plummeted by 48.4% to $1.78 after announcing the discontinuation of Synpheny-3, ceasing operations, and a workforce reduction of over 90%. The decision was based on an internal review suggesting the trial wouldn't meet its primary endpoint, not safety concerns. The company is exploring strategic options to enhance shareholder value, including potential acquisitions, mergers, or other transactions. Dr. Aoife Brennan, President and CEO, will leave, retaining only essential personnel for strategic review.

Portfolio Pulse from Henry Khederian

February 09, 2024 | 7:39 pm

DOOR

EMKR

INBS

NET

NWL

PLCE

SYBX

U.S. stocks showed mixed performance with the Nasdaq Composite rising by 1.26% and the S&P 500 gaining 0.55%, while the Dow slightly declined. Newell Brands Inc. reported higher than expected Q4 sales but forecasted a significant sales decline for FY24, impacting its stock. In other news, Intelligent Bio Solutions, Masonite International, and Cloudflare saw significant stock price increases following positive financial results and acquisition news. Conversely, The Children's Place, Synlogic, and EMCORE Corporation experienced substantial drops in their stock prices due to disappointing financial updates and operational changes.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 7:38 pm

DIA

ENPH

EXPE

NVDA

QQQ

SPY

The S&P 500 surpassed 5,000 points and the Nasdaq approached 18,000, marking a significant rally driven by optimism in artificial intelligence. NVIDIA Corp. saw a nearly 50% increase in its shares since the year's start, contributing to the 'Magnificent Seven's combined market cap of $13.2 trillion. Bitcoin also saw a notable rise, exceeding $47,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust saw varied movements, while sector and industry ETFs like the Technology SPDR Select Sector Fund and VanEck Semiconductor ETF experienced gains. Companies such as Enphase Energy Inc., First Solar Inc., and Cloudfare Inc. saw significant stock movements due to earnings and outlooks, whereas Expedia Group Inc. faced a downturn after a downgrade.

Portfolio Pulse from Piero Cingari

February 09, 2024 | 6:45 pm

CVE

CVX

EQNR

GOOG

MSFT

NIO

A significant milestone in nuclear fusion was achieved at the UK's Joint European Torus (JET) facility, generating a record 69 megajoules of energy. Despite the progress, practical application remains distant. The UK's future in European fusion research is uncertain post-Brexit, with plans to build the first fusion power plant. Companies like Chevron, Alphabet, Cenovus Energy, Microsoft, NIO, Eni SpA, and Equinor ASA have invested in nuclear fusion technology.

Portfolio Pulse from Vandana Singh

February 09, 2024 | 6:44 pm

GOOG

MCD

SBUX

Starbucks Corporation (NASDAQ:SBUX) reported disappointing first fiscal quarter results, missing both top and bottom-line estimates and lowering its full-year revenue outlook. The company cited misperceptions of McDonald's positioning in the Middle East and the US as a negative impact. McDonald's Corporation (NYSE:MCD) also reported lower-than-expected sales growth, attributing part of the issue to the Middle East conflict. Both companies are pursuing growth strategies, with Starbucks aiming for 55,000 stores by the end of the decade and McDonald's targeting 50,000 locations by 2027. McDonald's partnership with Alphabet (NASDAQ:GOOG) to enhance its restaurant platform with Google Cloud and AI could position it as a future competitor to Starbucks.

Portfolio Pulse from Upwallstreet

February 09, 2024 | 6:37 pm

BRK

COIN

HOLO

KKR

Benzinga's Stock Whisper Index highlights five stocks: Block Inc, MicroCloud Hologram Inc, Coinbase Global, Berkshire Hathaway, and KKR & Co Inc, noting their recent developments and potential investor interest. Block Inc is anticipated for its upcoming earnings report, MicroCloud Hologram saw a significant share price movement after joining the Communications Industry Association, Coinbase Global benefits from Bitcoin's value rise, Berkshire Hathaway gains attention with its investments, and KKR & Co Inc impresses with its earnings beat.

Portfolio Pulse from Chris Katje

February 09, 2024 | 6:26 pm

DOOR

SUNW

TTWO

Take-Two Interactive Software, Inc. (TTWO) shares fell by approximately 9% following disappointing third-quarter results and a downward revision of its 2024 net bookings forecast. Other stocks experienced significant movements, with Sunworks, Inc. (SUNW) filing for Chapter 7 bankruptcy, leading to a 267% jump in its shares. Masonite International Corporation (DOOR) surged 34.5% after Owens Corning announced its acquisition for $3.9 billion. Various companies reported financial results, leading to both gains and losses in their stock prices.

Portfolio Pulse from Avi Kapoor

February 09, 2024 | 6:18 pm

ENB

Enbridge Inc (NYSE:ENB) reported a slight increase in Q4 FY23 adjusted EPS to C$0.64 from C$0.63 a year ago, with adjusted EBITDA rising to C$4.11 billion from C$3.91 billion. The growth was driven by higher Mainline volumes, increased contributions from the Midcontinent and Gulf Coast segment, and higher Canadian utility rates, among other factors. The company also announced a 3.1% increase in its 2024 quarterly dividend, marking the 29th consecutive annual increase, and reiterated its 2024 financial guidance. Additionally, Enbridge sold its stakes in Alliance Pipeline and Aux Sable to Pembina Pipeline Corporation for C$3.1 billion. ENB shares dropped by 0.99% to $34.01.

Portfolio Pulse from Lekha Gupta

February 09, 2024 | 5:58 pm