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Acquisitions Mergers

META

TSLA

Benzinga's analysis highlights a strong week for the S&P 500, Nasdaq, and Dow, driven by tech earnings and job growth. Meta Platforms and AMD received bullish outlooks due to Q4 earnings and AI potential, respectively. Dogecoin is predicted to rise. Tesla faces uncertainty after a court ruling against Musk's pay plan, while Amazon's failed iRobot deal and tech market concentration concerns suggest caution.

Portfolio Pulse from Michael Cohen

February 03, 2024 | 1:42 pm

ARVL

GOEV

KARS

LCID

TSLA

This week in the EV sector, Tesla faced a court verdict invalidating Elon Musk's compensation plan and recalled 2.2 million vehicles. Ford reported a decline in EV sales, while Lucid's stock surged 25% on positive news. Canoo expanded its fleet with Zeeba, and Arrival was delisted from Nasdaq. The KraneShares EV ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

February 03, 2024 | 1:40 pm

AAPL

AMD

MSFT

NVDA

SSNLF

TSLA

This week in AI featured Tesla's plan to buy chips from AMD and Nvidia to boost AI capabilities, Microsoft's CEO Nadella's concerns over AI-generated deepfakes, Elon Musk's tweet increasing OPTI token value, Apple's CEO highlighting AI's role in its future, and Samsung's Galaxy S24 AI features requiring internet. These developments underscore the growing influence of AI across various sectors.

Portfolio Pulse from Benzinga Neuro

February 03, 2024 | 1:37 pm

BRK

BYDDF

RACE

Warren Buffett's Berkshire Hathaway (BRK) is celebrated as a turnaround story, evolving from three failed businesses to a conglomerate nearing a $1 trillion valuation. The company's adaptability and strategic acquisitions, including Pilot Travel Centers, have been pivotal. Berkshire also benefits from investments in BYD Co Ltd (BYDDF/BYDDY) and Ferrari (RACE), with BYD's sales volume increasing by 33.1% year-over-year in January 2024.

Portfolio Pulse from Ananya Gairola

February 03, 2024 | 9:13 am

GOOG

GOOGL

Alphabet Inc. co-founder Larry Page has reportedly purchased a private island in Puerto Rico, Cayo Norte, for $32 million through a limited liability company, US Virgin Island Properties. The island, known for its sandy beaches and coral reefs, was acquired in two sections in 2018. This acquisition is part of a trend where tech billionaires, including Meta Platforms Inc. CEO Mark Zuckerberg and former Google CEO Eric Schmidt, invest in private islands and large-scale properties.

Portfolio Pulse from Rounak Jain

February 03, 2024 | 6:02 am

CTGO

GFI

BMO Capital downgraded Gold Fields Limited (GFI) to Underperform with a lower price target. Reliance Steel & Aluminum Co. (RS) acquired Cooksey Iron & Metal, aiming to strengthen its position in the Southeastern market. Glancy Prongay & Murray LLP is investigating Contango ORE, Inc. (CTGO) for potential state law violations. United States Steel Corporation (X) reported a Q4 net loss of $80 million, a significant decline from the previous year, but remains optimistic about its future, especially regarding its combination with Nippon Steel.

Portfolio Pulse from Austin DeNoce

February 02, 2024 | 9:26 pm

KRE

NYCB

Veteran value investor Tim Melvin remains bullish on regional banks despite their worst performance since March 2023, citing 'ridiculously cheap valuations' as a buying opportunity. Melvin specifically addressed the sell-off of New York Community Bancorp (NYCB), which fell 42%, and the broader sector, as represented by the SPDR S&P Regional Banking ETF (KRE), which fell 7%. He highlighted the unique situation of NYCB due to its systemic bank status and stricter regulations. Melvin also discussed the divergent impact of commercial real estate exposure and predicted a loan reset that would benefit small-town real estate. He criticized the pessimism surrounding regional bank stocks and sees consolidation within the banking sector as a necessary evolution.

Portfolio Pulse from Piero Cingari

February 02, 2024 | 8:47 pm

NTDOY

TCEHY

China's National Press and Publication Administration (NPPA) approved 32 foreign video games, including Tencent Holdings ADR's (OTC: TCEHY) Dungeon & Fighter (DnF) Mobile, leading to a 2.9% stock surge for Tencent in Hong Kong. This approval marks a significant shift after China's recent regulatory crackdown on the gaming industry. Nintendo ADR's (OTC: NTDOY) games Kirby Star Allies and Taiko no Tatsujin, also published by Tencent in China, were among the approved titles. The move is seen as an effort to restore confidence in the gaming sector, which had been impacted by draft regulations aimed at curbing excessive gaming.

Portfolio Pulse from Franca Quarneti

February 02, 2024 | 7:01 pm