Streetbeat News

Acquisitions Mergers

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

PVSP

Pervasip Corp. (OTCPK: PVSP) is restructuring its cannabis operations, converting $15M in debt into equity in a new subsidiary, aiming for profitability and an OTCQB listing. The move focuses on high-margin branded product sales and reduces debt-to-equity ratios, signaling a strategic shift towards financial health and long-term growth.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 6:38 pm

AMZN

GOOG

MSFT

Amazon.com Inc (NASDAQ:AMZN) reported a strong fourth quarter with pre-tax earnings of $13.2 billion, surpassing analyst estimates due to a record holiday season and cost discipline. Revenue rose 14% to $170 billion, also beating forecasts. AWS saw a 13% year-over-year increase to $24.2 billion. Amazon's advertising revenue grew by 26%, and the company is expanding its AI capabilities, including launching Amazon Q and an AI shopping assistant. Microsoft Corporation (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG) also reported growth in their cloud services, with AI enhancements contributing to Microsoft's Azure revenue. Amazon plans to increase capital spending on AI infrastructure.

Portfolio Pulse from Upwallstreet

February 02, 2024 | 6:17 pm

BTCUSD

ETHUSD

Bloomberg Intelligence ETF analyst James Seyffart predicts a 60% chance of spot Ethereum ETFs being approved in 2024, following the significant approval of spot Bitcoin ETFs in the United States. Seyffart highlights the efficiency and investment benefits of spot ETFs over futures ETFs and expresses cautious optimism for Ethereum ETFs, despite less confidence compared to Bitcoin ETF approvals. He also mentions political influences on the SEC's decision-making process.

Portfolio Pulse from Murtuza Merchant

February 02, 2024 | 6:07 pm

MAT

Activist investor Barington Capital has acquired a stake in Mattel (NASDAQ:MAT) and is pushing for significant organizational changes to boost the company's underperforming stock. Barington's proposals include exploring strategic alternatives for Fisher-Price and American Girl, addressing stock-based compensation, and initiating a $2 billion share buyback plan. The investor believes these actions could potentially double Mattel's share price in three years. Mattel is reviewing Barington's proposals and has been exploring ways to leverage its intellectual property, including film projects.

Portfolio Pulse from Vandana Singh

February 02, 2024 | 6:02 pm