Streetbeat News

Acquisitions Mergers

XPER

Rubric Capital Management is pressuring Xperi Inc. to implement cost reductions and consider strategic options for its AI division. Rubric plans to nominate two directors, Thomas Lacey and Deborah Conrad, to Xperi's board.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:49 pm

JBLU

SAVE

Spirit Airlines' stock (SAVE) is trading higher, potentially as a result of the company's decision, along with JetBlue, to appeal a judge's ruling that blocked their proposed merger.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:48 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) shares surged after the company was awarded a $16 million project to implement a turnkey fleet electrification program for Fresno EOC's 50-shuttle fleet using its proprietary software and V2G technology. Additionally, Nuvve recently executed a 1-for-40 reverse stock split, reducing its outstanding shares from approximately 49.9 million to about 1.3 million. NVVE shares are up 44.77% to $4.31.

Portfolio Pulse from Nabaparna Bhattacharya

January 23, 2024 | 4:45 pm

ASTS

AST SpaceMobile, Inc. (NASDAQ:ASTS) CEO Abel Avellan released a shareholder letter highlighting strategic investments from AT&T, Google, and Vodafone totaling $306.5 million. The investments, including 10-year subordinated convertible notes and non-dilutive commercial payments, will support the company's mission to deliver space-based cellular broadband connectivity. AST SpaceMobile has secured commercial revenue with AT&T and Vodafone, and is collaborating with Google on product development for Android devices. The funding will help launch the next-generation BlueBirds satellites and maintain the company's momentum.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:35 pm

CSIQ

Canadian Solar Inc. (NASDAQ:CSIQ) stock is rising after its subsidiary, Recurrent Energy, secured a $500 million investment from BlackRock. The investment, convertible into common equity, will account for 20% of Recurrent Energy's fully diluted shares post-conversion. Canadian Solar will retain the majority stake. The capital will help scale Recurrent Energy to meet the growing demand for renewable energy. High short interest in CSIQ shares may also be affecting stock volatility.

Portfolio Pulse from Erica Kollmann

January 23, 2024 | 4:16 pm

CSIQ

Canadian Solar's subsidiary, Recurrent Energy, received a $500 million capital commitment from BlackRock to expand its renewable energy platform. This investment could bolster Canadian Solar's position in the renewable energy sector and potentially enhance its financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:13 pm

ALLY

SYF

Synchrony Financial (NYSE:SYF) reported Q4 sales of $4.466 billion, matching consensus estimates, with a net interest income increase of 9% Y/Y. Loan receivables and purchase volume also saw growth. However, provisions for credit losses rose significantly, and net earnings fell to $440 million, with EPS beating consensus. The efficiency ratio improved to 36%, and the company repurchased $250 million in shares. Synchrony expects 6%-8% loan receivable growth and $17.5-$18.5 billion in net interest income for FY24. The company also acquired Ally Financial's point-of-sale financing business. SYF shares dropped 1.19% to $37.32.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 2:58 pm

NVEE

Nuvve Corporation has been awarded a $16 million project by the Fresno Economic Opportunities Commission (EOC) to electrify its 50-shuttle fleet with vehicle-to-grid capabilities. This initiative is part of Fresno EOC's efforts to promote cleaner transportation and environmental sustainability in the community.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:31 pm

CMCSA

NFLX

TKO

Netflix Inc. has secured a $5 billion, 10-year exclusive rights deal with WWE, starting January 2025, to stream 'Raw' and other WWE content globally. This marks a strategic shift for Netflix into live programming. TKO Group Holdings, WWE's parent company, saw a 22% surge in premarket trading, while Netflix shares were up 2%. The deal is expected to expand WWE's reach and provide Netflix with a dedicated fan base for live viewing.

Portfolio Pulse from Piero Cingari

January 23, 2024 | 2:26 pm

AAPL

AMD

BAC

BTCUSD

BYDDY

NFLX

TCEHY

TTE

Bitcoin has plummeted below $39K, erasing gains since the US spot ETF launch. Shiba Inu's burn rate spikes, and analysts comment on crypto volatility. US stocks brace for earnings reports, with defensive stocks highlighted. JPMorgan is bearish on the S&P 500. US politics feature Trump's comments and potential UAW Biden endorsement. Russia-West tensions rise, and China's economy stumbles but still attracts investors. Apple faces criticism and rolls out updates, while AMD's future is uncertain. Tencent sees workforce cuts but shares surge. BYD challenges Tesla with new electric vehicles. Netflix's studio head departs, and Bank of America lays off bankers in Asia. TotalEnergies expands in offshore energy.

Portfolio Pulse from Akanksha Bakshi

January 23, 2024 | 2:15 pm