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Acquisitions Mergers

AMD

INTC

NVDA

AMD President Victor Peng emphasized the importance of AI-powered PCs in competing with Nvidia and Intel. He believes AMD is well-positioned in the AI PC market, which is expected to grow significantly, with 60% of PCs being AI-capable by 2027. Despite AMD's focus on AI, its stock fell after Q4 results. Intel and Nvidia are also advancing in AI, with Intel launching Core Ultra chips and Nvidia announcing new GPUs for AI applications. Goldman Sachs maintains a Buy rating on AMD, raising its price target.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 10:45 am

NPSCY

Japan is intensifying efforts to communicate its concerns to Donald Trump regarding potential agreements with China that could destabilize Asia. This includes diplomatic dialogues and attempts to arrange meetings with Trump, who has indicated he would block the $14.9 billion acquisition of United States Steel Corporation by Japan's Nippon Steel Corp if re-elected. Japan's worries include possible trade or security agreements with China, weakening U.S. support for Taiwan, and the re-imposition of protectionist trade measures.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 9:30 am

SVM

Silvercorp Metals has received unconditional approval from the Tanzanian FCC for its takeover of OreCorp. An independent expert appointed by OreCorp deemed the Silvercorp offer fair and reasonable, in the absence of a superior proposal. All OreCorp directors have accepted the Silvercorp offer.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 7:02 am

CVX

Chevron Corporation (NYSE:CVX) is anticipated to report lower Q4 earnings with an expected EPS of $3.21, down from $4.09 the previous year, and revenue forecasted at $51.62 billion, a decrease from $56.47 billion. The company is also selling its natural gas business in Canada's Duvernay Shale as part of its global operations streamlining. Analysts have recently adjusted their ratings and price targets for Chevron, reflecting a mixed outlook.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 6:06 am

NTLA

RKLB

TSLA

TWLO

TXG

Cathie Wood's Ark Invest purchased $4.7 million in Tesla Inc (TSLA) shares and an equal amount in Rocket Lab USA Inc (RKLB) shares, showing confidence in both companies. The Tesla shares were bought through ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW), while Rocket Lab shares were acquired via ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space Exploration & Innovation ETF (ARKX). Additionally, Ark Invest sold shares in Twilio Inc (TWLO) and Zoom Video Communications (ZM), and bought more shares in 10X Genomics Inc (TXG) and Intellia Therapeutics Inc (NTLA).

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 4:18 am

INTC

Intel Corporation has delayed its $20 billion chip-manufacturing project in Ohio, initially set for next year, to late 2026 due to market challenges and slow government funding. The project, aimed at expanding domestic chip production and reducing reliance on Asian factories, aligns with the Biden administration's $53 billion Chips Act. Despite the delay, Intel remains committed to the project, which is expected to create 3,000 new factory jobs. The delay follows Intel's recent earnings report, which showed a 10% year-over-year revenue increase but disappointing guidance.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 1:34 am

MAT

Barington Capital, a shareholder of Mattel, Inc. (MAT), has sent a letter to Mattel's CEO advocating for strategic changes to enhance shareholder value. These include exploring strategic alternatives for Fisher-Price and American Girl, reducing stock-based compensation, and initiating a $2 billion share repurchase program.

Portfolio Pulse from Charles Gross

February 02, 2024 | 1:25 am

ACN

Accenture plc (NYSE:ACN) shares have increased over 20% since the end of October, with a brief pause in early January before resuming its uptrend. The rise is attributed to several developments, including acquisitions of Work & Co. and Navisite, and a joint venture with Mujin to leverage AI and machine learning for data-driven management. Shares were up 1.93% at $370.91 at market close Thursday.

Portfolio Pulse from Ryan Gustafson

February 01, 2024 | 11:06 pm

DECK

Deckers Outdoor Corp (NYSE:DECK) reported Q3 earnings of $15.11 per share, surpassing estimates of $11.48, with a 44% increase from the previous year. Revenue reached $1.560 billion, beating estimates of $1.448 billion, a 16% growth year-over-year. HOKA brand sales rose by 21.9% to $429.3 million. The company forecasts FY24 adjusted earnings between $26.25 and $26.50 per share, with revenue around $4.15 billion. Gross margin is expected to be approximately 54.5%. CEO Dave Powers announced retirement effective Aug. 1, with Stefano Caroti set to succeed. DECK shares rose 4.87% to $810.50 in after-hours trading.

Portfolio Pulse from Ryan Gustafson

February 01, 2024 | 10:21 pm

GME

NFLX

SONY

The GME Coin, an unofficial memecoin based on GameStop, has surged in value, coinciding with the anniversary of GameStop's 2021 short squeeze and the increased attention from the Netflix release of 'Dumb Money', a movie about the event. Produced by Sony and grossing over $34 million worldwide, the movie's success on Netflix has paralleled the memecoin's rise. GME Coin, trading on Solana, hit a $56 million market cap, with analysts suggesting it could surpass GameStop's valuation.

Portfolio Pulse from Chris Katje

February 01, 2024 | 9:58 pm