Streetbeat News

Acquisitions Mergers

HLT

During a conference call, Hilton's CEO mentioned that the current higher interest rates and increased stress in the environment are seen as opportunities for more mergers and acquisitions (M&A) activities. This statement suggests that Hilton may be looking to expand or strengthen its portfolio through strategic acquisitions.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:27 pm

DAY

Dayforce projects Q1 2024 revenue between $424M-$427M, slightly below the $427.81M estimate, and FY24 revenue between $1.72B-$1.73B, under the $1.74B estimate. The company anticipates a 14%-15% revenue increase in Q1 and a 14% increase for FY24 on a GAAP and constant currency basis. Dayforce expects a decline in other recurring revenue due to sunsetting legacy solutions but predicts an increase in PowerPay recurring revenue. Adjusted EBITDA is forecasted at $123M-$126M for Q1 and $480M-$495M for FY24, reflecting investments in global expansion and the Dayforce rebrand and eloomi acquisition.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:19 pm

MRK

MRNA

MYNZ

PFE

Merck & Co Inc (MRK) reported higher Q4 revenue and earnings, driven by Keytruda and Gardasil, despite a net loss from a deal with Daiichi Sankyo. Moderna Inc (MRNA) and Pfizer Inc (PFE) are focusing on oncology for future revenue. Mainz Biomed N.V. (MYNZ) announced impressive colorectal cancer screening results and opened a European Oncology Lab. Merck and Moderna showed promising trial results for a melanoma treatment, and Mainz Biomed reported high sensitivity and specificity in colorectal cancer screening.

Portfolio Pulse from Upwallstreet

February 07, 2024 | 3:13 pm

TFG

The Fortegra Group, Inc (NYSE:TFG) is set to begin trading on the NYSE on February 8, with its IPO priced between $15.00 and $18.00 per share. The company, a specialty insurance firm with a focus on niche markets, has announced a 180-day insider lock-up period ending on August 6, 2024.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 3:00 pm

PMNT

Perfect Moment Ltd (NASDAQ:PMNT) is set to begin trading on NASDAQ on February 8, with an IPO price range of $6.00 to $7.00 per share. The company, a luxury lifestyle brand known for its fashion-forward skiwear, outerwear, swimwear, and activewear, will have an insider lock-up period ending on August 06, 2024.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 3:00 pm

KYTX

Kyverna Therapeutics, Inc (NASDAQ:KYTX) is set to begin trading on NASDAQ on February 8, with an IPO price range of $20.00 to $21.00 per share. The company, specializing in cell therapies for autoimmune diseases, has a 180-day insider lock-up period ending on August 6, 2024.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 3:00 pm

GLT

HOLO

NVTA

SMX

SNAP

UBER

U.S. stocks traded higher with the Dow Jones gaining around 100 points. Uber Technologies reported better-than-expected Q4 sales, with revenue growth of 15% year-on-year to $9.94 billion. MicroCloud Hologram, Glatfelter Corporation, and SMX Public Limited Company saw significant stock price increases. Conversely, Invitae Corporation, CytoMed Therapeutics, and Snap Inc. experienced notable declines. Oil and gold prices traded up, while silver and copper saw decreases.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 2:58 pm

AAPL

GOVT

MSFT

NVDA

SPY

TSLA

Hedge funds experienced over $100 billion in withdrawals in 2023, continuing a trend from 2022 due to underperformance, particularly in equity long-short funds. Short sellers faced significant losses, notably in AAPL, MSFT, and TSLA. Meanwhile, investing in the S&P 500 index through SPY would have yielded a 24.3% return. U.S. Treasury funds underperformed, but the iShares US Treasury Bond ETF (GOVT) saw a 1.5% increase. New SEC rules may increase compliance risks and costs for hedge funds managing over $50 million.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 2:17 pm

AAPL

MSFT

NVDA

Apple Inc. (AAPL) is currently behind its peers in AI technology but is expected to lead in personalized AI, according to Deepwater Asset Management's Gene Munster. Munster's optimism is based on Apple CEO Tim Cook's recent statements about the company's AI efforts. Apple's potential in AI spans across its various services, with expectations of an AI bot announcement this year. The importance of AI leadership is highlighted by the success of Nvidia Corp. (NVDA) and Microsoft Corp. (MSFT), with Microsoft's investment in OpenAI's ChatGPT boosting its stock and valuation. Apple's stock rose 0.50% in premarket trading to $190.25.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 2:13 pm

EQNR

Equinor ASA (NYSE:EQNR) shares fell premarket after reporting a 20% Y/Y decline in Q4 FY23 adjusted revenue to $28.48 billion, missing estimates. Adjusted earnings dropped 49% Y/Y to $8.68 billion. The company declared a Q4 ordinary and extraordinary dividend of $0.35 each, payable on May 28, 2024, and announced a $10-$12 billion share buyback program for 2024-2025. Equinor completed 12 exploration wells with nine commercial discoveries. FY24 outlook expects stable production and $13 billion in organic capital expenditures, with $14 billion in dividends and share buybacks.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 2:11 pm