Streetbeat News

Acquisitions Mergers

MSTR

MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor discussed Bitcoin's (CRYPTO: BTC) rise above $50,000 on CNBC, highlighting the significant impact of ETFs on Bitcoin demand. Saylor emphasized Bitcoin's appeal as an uncorrelated asset and noted a substantial demand-supply gap, with ETFs generating ten times more demand than the supply from miners. MicroStrategy is rebranding as a Bitcoin development company, focusing on leveraging its operations to accumulate more Bitcoin and support the network's growth. Saylor also expressed optimism about using AI and cloud migration to drive revenue growth and mentioned exploring various capital market strategies to benefit shareholders.

Portfolio Pulse from Murtuza Merchant

February 13, 2024 | 2:33 pm

AMZN

KRE

META

MSFT

NVDA

QQQ

XLE

Institutional investors are highly bullish on equities, particularly Mega Techs like Nvidia and Microsoft, dismissing recession fears. The 'Magnificent 7' stocks, including Nvidia, Microsoft, Amazon, and Meta Platforms, are seen as the most crowded trade. Investors are shifting funds from cash, commodities, and defensive stocks to U.S. and technology stocks. The Energy Select Sector SPDR Fund and Invesco QQQ Trust, which includes the Magnificent 7, show varied performance in 2024. Concerns over U.S. commercial real estate potentially affecting the regional banking sector, tracked by the SPDR S&P Regional Banking ETF, are highlighted.

Portfolio Pulse from Neil Dennis

February 13, 2024 | 2:30 pm

META

MSFT

OpenAI, backed by Microsoft Corp. (MSFT), is facing competition from new AI startups like Abacus.AI, which has surpassed OpenAI's ChatGPT with its Smaug-72B model on the Hugging Face LLM leaderboard. Abacus.AI's success highlights a trend towards open-source AI models, a strategy also supported by Meta Platforms Inc. (META) and Elon Musk's Grok. This shift challenges OpenAI's dominance and suggests a need for adaptation in the AI industry.

Portfolio Pulse from Caleb Naysmith

February 13, 2024 | 2:30 pm

BMR

NVDA

Beamr Imaging Ltd (NASDAQ:BMR) shares surged after announcing joint research with Nvidia Corp (NASDAQ:NVDA) on automated video modernization, to be presented at the ACM Mile-High-Video 2024 conference. The collaboration aims to address the slow adoption of the AV1 video format by leveraging Nvidia's hardware. Beamr also announced a public offering of 1,714,200 shares at $7 each, intending to use the proceeds for R&D, sales, marketing, and cloud operating costs. The company plans to launch a new Nvidia-powered video cloud service on Amazon's AWS on Feb. 20.

Portfolio Pulse from Adam Eckert

February 13, 2024 | 2:24 pm

F

GM

STLA

TSLA

WKSP

The EV industry is experiencing a slowdown, prompting companies like Ford, Stellantis, and Tesla to reconsider their strategies. Ford is scaling back its EV efforts due to increased losses, while Stellantis and Tesla are cautious about a price war's impact on profitability. Worksport Ltd announced the completion of its AL3PRO hard folding covers compatible with several major automakers' trucks, signaling growth in EV accessories. The industry is at a point where it needs to make EVs accessible to a broader audience, not just early adopters.

Portfolio Pulse from Upwallstreet

February 13, 2024 | 2:23 pm

AAPL

NVDA

TSLA

Bitcoin, Ethereum, and Dogecoin rally, with Bitcoin surpassing $50K and predictions of reaching $130K. Stellantis adopts Tesla's charging standard, NACS. Various tech and EV companies face challenges and developments, including Apple, Nvidia, and Tesla. Financial markets anticipate inflation data, and geopolitical tensions are highlighted. In the crypto space, significant investments and activities are noted, alongside regulatory and market movements.

Portfolio Pulse from Akanksha Bakshi

February 13, 2024 | 2:21 pm

JBLU

SAVE

JetBlue Airways Corporation's stock is trading higher today after activist investor Carl Icahn's Icahn Capital reported a 9.91% stake in the company, purchased for approximately $119.75 million. Icahn plans to discuss board representation and believes JetBlue is undervalued. The company has been in the news for its merger agreement with Spirit Airlines Inc, which faced legal challenges but will be heard in court in June 2024. Despite a 3.7% decline in Q4 2023 operating revenue, JetBlue beat consensus estimates and is working on returning to profitability.

Portfolio Pulse from Vandana Singh

February 13, 2024 | 2:19 pm

SGA

Saga Communications, Inc. (SGA) has agreed to acquire several radio stations from Neuhoff Communications, Inc. serving the Greater Lafayette, IN area. The stations include WKOA, WKHY, WASK (FM and AM), WXXB, and W269DJ. Financial terms were not disclosed. Saga aims to continue expanding its radio business by acquiring middle market stations in dynamic communities.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 2:14 pm

EEFT

Euronet (NASDAQ:EEFT) has acquired Infinitium, a Singapore-based digital payments and risk management services provider. Infinitium's products, including 3D Secure for reducing online transaction fraud, will be integrated into Euronet's Ren payments platform. This acquisition aims to enhance protection against consumer fraud and merchant chargebacks in online transactions. Infinitium serves major banks and merchants across Asia, and its technology is expected to expand Euronet's market opportunity significantly.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 2:13 pm

VOXR

Vox Royalty Corp. (VOXR) is set to acquire an Australian royalty portfolio for up to A$4,700,000, enhancing its asset base with gold and copper projects in Australia. The portfolio includes royalties in various stages, from construction to exploration, and is part of Vox's strategy to expand in low-risk jurisdictions. The transaction, expected to close by the end of Q1 2024, will be funded with current cash on hand.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 2:09 pm