Streetbeat News

Acquisitions Mergers

BLK

Anthony Scaramucci, founder of SkyBridge Capital and former Trump ally, predicts Bitcoin will reach $150,000, citing its current asset composition in SkyBridge and recent ETF adoptions by firms like Blackrock Inc (BLK). He compares the current crypto environment to the early internet era, expecting Bitcoin's user base to expand significantly. Scaramucci's bullish stance is reinforced by his firm's resilience through various market downturns and the FTX collapse. He also mentions his upcoming book detailing his experiences.

Portfolio Pulse from Aaron Bry

May 13, 2024 | 5:02 pm

INTC

Intel shares are experiencing an uptick after reports emerged about the company closing in on a deal with Apollo to back a new chip manufacturing facility in Ireland.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 3:40 pm

ETHUSD

GBTC

Grayscale's potential legal battle with the SEC over an Ethereum ETF rejection and the financial implications of its Bitcoin Trust's management fees are highlighted. The Ethereum Dencun upgrade's impact on ETH prices and gas fees, along with the competitive landscape of Bitcoin Spot ETFs, are also discussed.

Portfolio Pulse from Murtuza Merchant

May 13, 2024 | 3:25 pm

AAPL

GOOG

GOOGL

META

QQQ

The article discusses the current state of the stock market, highlighting the resistance zone of Invesco QQQ Trust Series 1 (QQQ) and the potential impact of upcoming CPI and PPI data. It mentions Apple Inc's (AAPL) talks with OpenAI to integrate ChatGPT on iPhones, which is seen as negative for Alphabet Inc (GOOG, GOOGL). The article also notes positive early trade money flows in AAPL, Amazon.com Inc (AMZN), Microsoft Corp (MSFT), NVIDIA Corp (NVDA), and Tesla Inc (TSLA), with negative flows in GOOG and Meta Platforms Inc (META), and mixed flows in QQQ and SPY. Additionally, it mentions the buying of gold, oil, and Bitcoin in early trade.

Portfolio Pulse from The Arora Report

May 13, 2024 | 3:22 pm

FTRE

PSCH

VIOV

Fortrea Holdings Inc. (NASDAQ:FTRE) shares plummeted after reporting disappointing Q1 FY24 results and lowering its revenue forecast. The company missed revenue expectations with $662.1 million against a consensus of $754.6 million and reduced its FY24 revenue guidance from $3.14-$3.205 billion to $2.785-$2.855 billion. Adjusted EBITDA and EPS also fell short of expectations, with significant declines from the previous year. Fortrea is in the process of divesting its Endpoint Clinical and Fortrea Patient Access businesses to an affiliate of Arsenal Capital Partners, expected to close in Q2. Investors can also gain exposure to Fortrea through Invesco S&P SmallCap Health Care ETF (NASDAQ:PSCH) and Vanguard S&P Small-Cap 600 Value ETF (NYSE:VIOV).

Portfolio Pulse from Lekha Gupta

May 13, 2024 | 3:21 pm

GTBIF

HITI

RTON

TCNNF

VRNOF

Florida's cannabis market is expanding with new dispensaries from Green Thumb Industries, Verano Holdings, and Trulieve Cannabis. Other states and Canada also see growth in cannabis retail, with new stores and expansions from various companies including High Tide Inc. and Right on Brands.

Portfolio Pulse from Jelena Martinovic

May 13, 2024 | 3:18 pm

NDAQ

Nasdaq is reportedly considering the sale of Solovis, a part of its efforts to streamline operations, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 3:14 pm

AMD

BABA

BIDU

BOTZ

NVDA

SMH

Nvidia Corp is in the spotlight as Chinese regulators have instructed local tech firms to reduce reliance on U.S. AI chips, favoring domestic solutions. This includes major companies like ByteDance, Tencent, Alibaba, and Baidu. The U.S. has imposed restrictions on AI chip exports to China, affecting companies like Nvidia and AMD. Despite this, Nvidia and Intel are developing AI chips tailored for the Chinese market. Nvidia's stock has seen significant growth, and exposure to Nvidia can be gained through ETFs like VanEck Semiconductor ETF and Global X Robotics & Artificial Intelligence ETF.

Portfolio Pulse from Anusuya Lahiri

May 13, 2024 | 3:02 pm

GGL

Games Global Limited (NYSE:GGL) is set to IPO on May 14, offering shares between $16.00 and $19.00 with a 180-day insider lock-up period ending on November 10, 2024. The company is a leading developer and marketer of online casino-style gaming content.

Portfolio Pulse from Benzinga Insights

May 13, 2024 | 3:00 pm

WBA

Walgreens Boots Alliance Inc. is reportedly contacting potential buyers for its Boots drugstore chain in the UK, valued at £7 billion ($8.8 billion). The company is in early-stage discussions with would-be bidders, facilitated by advisers, though no formal sale process has started.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:58 pm