Streetbeat News

Acquisitions Mergers

MRAI

Marpai, Inc. (NASDAQ:MRAI) announced two key financial agreements: an amendment with AXA S.A. to delay payment obligations and secure $1.7 million in revenue-based financing from Libertas Funding, LLC. The amendment with AXA reduces the 2024 payment to $473,688 and delays further payments to 2025, with potential payment reduction criteria including maintaining NASDAQ listing. Marpai's CEO, Damien Lamendola, commits to investing $3 million in equity in 2024. The financing from Libertas, which has provided over $2.6 billion to businesses since 2016, will be used for short-term working capital needs.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:15 pm

ARKK

NVDA

SARK

TARK

TSLA

Cathie Wood's ARK Invest, known for its bold investments in companies like Tesla and NVIDIA, and its bullish stance on Bitcoin, has been named the top 'wealth destroyer' by Morningstar. ARK Innovation ETF (ARKK) ranked 3rd in funds that depreciated the most over the last decade, with ARK's firm losing approximately $14.3 billion overall. Despite past successes, ARKK's value plummeted in the 2022 bear market. Options for investors include shorting ARKK through AXS Short Innovation Daily ETF (SARK) or leveraging with AXS 2X Innovation ETF (TARK).

Portfolio Pulse from Johnny Rice

February 08, 2024 | 8:53 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) faces a supply crisis for its RTX 4090 graphics cards due to high demand and US sanctions on chip exports to China. This has led to price hikes of up to 60% and a surge in demand for Nvidia's H100 chips. The company is also launching the H20 chip for the Chinese market, amidst broader industry concerns over geopolitical tensions and the need for supply chain diversification.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 8:37 pm

LMT

Rep. Kathy Manning disclosed the purchase of Lockheed Martin Corp (NYSE:LMT) shares before making a statement on holding Iran accountable after a drone attack in Jordan killed three U.S. soldiers. The transactions, potentially made by her spouse, could indicate a conflict of interest as defense stocks like LMT may benefit from increased military action. Manning, a member of the Committee on Foreign Affairs, has made over 700 trades since taking office. Lockheed Martin's stock could rise if the U.S. retaliates against Iran, as indicated by statements from President Biden and Defense Secretary Lloyd Austin.

Portfolio Pulse from Chris Katje

February 08, 2024 | 7:44 pm

SAVE

Spirit Airlines is exploring options to manage its debt maturities for 2025 and 2026 after the failed merger with JetBlue. The airline has engaged Davis Polk and Perella Weinberg as advisers to navigate this financial restructuring.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:34 pm

GBTC

MSTR

Bitcoin surged past $45,000, up 3.7%, as regional banks faltered. The surge was attributed to an increase in Bitcoin wallets holding more than 1,000 Bitcoin and substantial inflows into spot ETFs, with total inflows reaching $8.05 billion. The price movement defied the New York Community Bancorp trading loss, suggesting Bitcoin may be seen as a hedge against uncertainty. ETFs are expected to surpass MicroStrategy in Bitcoin holdings soon. Analysts remain optimistic about Bitcoin's prospects, with expectations of continued upward trends and a potential all-time high before the end of March.

Portfolio Pulse from Khyathi Dalal

February 08, 2024 | 7:34 pm

BAC

YUM

Flynn Group, the world's largest franchisee operator, is exploring a sale of a majority stake potentially valuing the company at over $5 billion, including debt. The company, which operates franchises such as Applebees, Taco Bell, Panera Bread, Arby's, Pizza Hut, Wendy's, and Planet Fitness, is working with Bank of America on the sale. Private equity firms and sovereign wealth funds are interested suitors. Ontario Teachers' Pension Plan and Main Post Partners, current investors in Flynn Group, might sell part of their stakes but remain invested post-deal. Flynn Group generates over $450 million in EBITDA annually and has over $4.5 billion in annual sales from over 2,600 restaurants and fitness clubs in the U.S. and Australia.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:23 pm

BKKT

CMP

SYRA

TENX

Compass Minerals International, Inc. (CMP) shares fell by 9% following disappointing quarterly results, missing both earnings and sales estimates. Other stocks showed significant movement, with notable gainers including Syra Health Corp. (SYRA) and Hitek Global Inc. (HKIT), and losers like Tenax Therapeutics, Inc. (TENX) and Bakkt Holdings, Inc. (BKKT). The article also highlights stocks that surged due to partnerships, financial results, and other corporate announcements.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 6:07 pm

AMKBY

Moller Maersk (OTC:AMKBY) shares fell 15.5% after warning of potential impacts on its 2024 earnings due to the Red Sea crisis, leading to immediate capacity constraints and a temporary increase in rates. The crisis has caused the company to suspend its share buyback program and revise its full-year earnings forecast for 2024 to between $1 billion and $6 billion, down from $9.6 billion in 2023. The crisis has also led to increased costs and delays for shipping firms as they divert routes, potentially affecting global commodity markets and inflation.

Portfolio Pulse from Neil Dennis

February 08, 2024 | 5:52 pm

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) shares are rising as Bitcoin exceeds $45,000. CleanSpark announced the acquisition of three bitcoin mining facilities in Mississippi for $19.8 million, expecting to close the deal within 21 days. The facilities' hashrate is anticipated to reach 2.4 EH/s post-closure. CleanSpark mined 577 bitcoins in January. The stock has gained over 20% in the past five days, with investors looking forward to the Q1 financial results. Analysts predict a loss of 24 cents per share and $70.411 million in revenue. CleanSpark has an average 1-year price target of $11.20, indicating a 10.67% upside.

Portfolio Pulse from Erica Kollmann

February 08, 2024 | 5:01 pm