Streetbeat News

Acquisitions Mergers

HSBC

IFF

MCD

PINS

McDonald's, HSBC Holdings, Pinterest, International Flavors & Fragrances, and ON Semiconductor are the stocks to watch heading into Monday. McDonald's is expected to report quarterly earnings of $3.00 per share on revenue of $6.58 billion. HSBC reported a 240% surge in pre-tax profit for Q3 and announced a $3 billion share buyback program. Pinterest is expected to earn 20 cents per share on revenue of $743.50 million. Clariant has agreed to buy the cosmetic ingredients unit of IFF for $810 million. ON Semiconductor is expected to report quarterly earnings of $1.34 per share on revenue of $2.15 billion.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 7:31 am

WDC

Western Digital Corporation (NASDAQ:WDC) is expected to report a Q1 loss of $1.91 per share, compared to earnings of 20 cents per share in the same period last year. The company's revenue is projected to be $2.65 billion, down from $3.59 billion a year ago. Western Digital recently ended merger talks with Kioxia due to lack of approval from some Kioxia shareholders. The company's shares closed at $38.97 on Friday, up 1.9%. Several analysts have provided their ratings and price targets for the company.

Portfolio Pulse from Lisa Levin

October 30, 2023 | 6:54 am

CLZNF

IFF

Clariant has agreed to acquire the cosmetic ingredients business unit of International Flavors & Fragrances (IFF) for $810 million. The deal is expected to strengthen Clariant's position in the cosmetic ingredients market.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 6:14 am

CYBN

PSIL

TSLA

Psychedelics companies Cybin Inc. and Small Pharma Inc. have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The combined company has received two patent grants from the USPTO and one from the European Patent Office. The AdvisorShares Psychedelics ETF has been showing a descending trend in its opening and closing prices. Other psychedelics stocks such as GH Research, COMPASS Pathways, Mind Medicine, Enveric Biosciences, Bright Minds Biosciences, Silo Pharma, Atai Life Sciences, Incannex Healthcare, FSD Pharma, and Cybin Inc. have also seen changes in their closing prices.

Portfolio Pulse from Lara Goldstein

October 30, 2023 | 2:48 am

MSFT

Microsoft Corporation (NASDAQ:MSFT) has been one of the best-performing technology stocks since its IPO in 1986. The company, now valued at over $2 trillion, has seen significant growth through new products and acquisitions. In 2023, Microsoft invested an additional $10 billion in OpenAI, which became a catalyst for the AI sector. An initial $1,000 investment in Microsoft's IPO would be worth $4,521,299.33 today.

Portfolio Pulse from Chris Katje

October 29, 2023 | 6:11 pm

AAPL

META

MSFT

Apple Inc. has made several significant developments over the past week, including a $1B investment in generative AI, a major overhaul of its TV app for streaming dominance, and potential product redesigns. The company plans to procure between 2,000 and 3,000 AI servers in 2023, with a significant increase to 18,000 to 20,000 units in 2024. Apple's TV app overhaul includes discontinuing specific apps on the Apple TV box and removing sections for movies and TV shows in the iTunes Store app. Analyst predictions suggest a total MacBook Pro redesign by 2025. The iPhone 15 Pro's ratings have also stirred discussions.

Portfolio Pulse from Benzinga Neuro

October 29, 2023 | 1:44 pm

CVX

LLY

MSOS

NVO

TSLA

The past week saw significant declines in major averages due to concerns over potential Middle East conflicts and a conservative Q4 earnings forecast from U.S. companies. However, the U.S. economy showcased a strong 4.9% growth in Q3. Novo Nordisk and Eli Lilly are benefiting from the growing interest in weight loss drugs. Chevron Corp has agreed to purchase Hess Corp in a $53 billion all-stock deal. Dogecoin co-founder Billy Markus is optimistic about Bitcoin, Ethereum, and Doge. Tesla Inc reported subpar quarterly results, and the Nasdaq 100 Index faced a 2.5% drop this week. The election of Rep. Mike Johnson as House speaker may impact cannabis reforms.

Portfolio Pulse from Michael Cohen

October 28, 2023 | 12:49 pm

CEPU

Central Puerto (NYSE:CEPU), the largest producer of electric energy in Argentina, has acquired its first photovoltaic technology park, 'Guañizuil II A', from Norwegian companies SCATEC and EQUINOR. The solar farm, the third largest in Argentina, will allow Central Puerto to generate 9.6% of the country's total solar energy and reach a capacity of 475 MW of renewable energy. The financial terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 9:28 pm

AMZN

GOOG

GOOGL

MSFT

Google, a subsidiary of Alphabet Inc, has committed to a significant investment in AI startup Anthropic, intensifying competition in the AI sector. The investment includes an initial $500 million, with plans for an additional $1.5 billion. This follows Amazon's decision to invest $4 billion in Anthropic. Microsoft has also invested $10 billion in OpenAI. Anthropic, established by ex-OpenAI engineers, aims to create AI models that can rival those of OpenAI.

Portfolio Pulse from Michael Cohen

October 27, 2023 | 9:14 pm

AMZN

GOOG

Google has agreed to invest up to $2 billion in AI startup Anthropic, building on its earlier investment. This follows a separate commitment by Amazon last month to invest $4 billion in the company. Anthropic, founded by former OpenAI engineers, aims to develop rival generative AI models.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 7:39 pm