Streetbeat News

Acquisitions Mergers

AVGO

GOOGL

NVDA

TSM

Jim Cramer highlighted Broadcom (AVGO) as a chip stock poised for a breakout, despite market focus on Nvidia (NVDA) due to strong AI chip demand. Taiwan Semiconductor (TSM) reported robust sales, boosting Nvidia's shares. Cramer suggested trimming Procter & Gamble (PG) after reaching new highs and noted Alphabet's (GOOGL) decline amid acquisition talks.

Portfolio Pulse from Navdeep Yadav

May 11, 2024 | 9:40 pm

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), compared Tesla's focus on vehicle autonomy to Netflix's shift from DVD rentals to streaming, suggesting autonomous vehicles will dominate the future. Despite Tesla's current share value drop, Musk remains optimistic about the success of vehicle autonomy, with plans to unveil a robotaxi product. Netflix, having phased out DVD rentals, highlights a similar successful pivot.

Portfolio Pulse from Anan Ashraf

May 11, 2024 | 3:24 pm

JPM

WFC

JPMorgan Chase & Co. disclosed a $760,000 investment in Bitcoin ETFs and shares in crypto-related companies, despite CEO Jamie Dimon's criticism of the crypto industry. The bank's holdings include ETFs like BlackRock's iShares Bitcoin Trust, ProShares Bitcoin Strategy ETF, and others, alongside investments in Bitcoin Depot Inc. and Bit Digital Inc. This move reflects the growing acceptance of Bitcoin in traditional finance.

Portfolio Pulse from Rounak Jain

May 11, 2024 | 2:57 pm

AAPL

KARS

RIVN

TSLA

This week in the EV sector saw Tesla grappling with executive departures and sales challenges in China, Rivian's earnings surpassing estimates amidst Apple partnership rumors, Fisker's Austrian unit filing for bankruptcy, and the Biden administration planning to impose tariffs on Chinese EV imports. Ford revisited its European EV transition plan, and the KraneShares Electric Vehicles ETF saw a decline.

Portfolio Pulse from Shanthi Rexaline

May 11, 2024 | 1:37 pm

DIS

HTZ

NVDA

PLTR

SBUX

Benzinga's weekly review highlights bullish and bearish perspectives on stocks like Nvidia, Starbucks, Palantir, and insights into meme coin investments. Key financial indicators and upcoming events, such as the Consumer Price Index report and a speech by the Federal Reserve Chair, are also noted. Bullish views include Palantir's buying opportunity post-Q1 earnings, Disney's DTC unit's profitability, and an investor's success with meme coins. Bearish takes involve Hertz's wrongful Tesla refueling charge, Starbucks' sales slump due to Middle Eastern policy backlash, and a significant Nvidia stake sale by a former Soros fund manager.

Portfolio Pulse from Michael Cohen

May 11, 2024 | 1:25 pm

TSLA

Morgan Stanley analyst Adam Jonas highlights the significance of Tesla Inc's upcoming shareholder meeting, focusing on a vote regarding CEO Elon Musk's pay package, which could influence the company's long-term strategy and stock volatility. The package, previously rescinded by a Delaware court, is crucial for Musk's potential 25% voting block, impacting Tesla's AI development and overall market position. The meeting will also consider relocating Tesla's incorporation from Delaware to Texas.

Portfolio Pulse from Anan Ashraf

May 11, 2024 | 6:09 am

BAX

Recent analyst ratings for Baxter Intl (NYSE:BAX) show a mix of perspectives, with an average 12-month price target of $45.75, reflecting a 1.67% increase from the previous target. Analysts from TD Cowen, Citigroup, B of A Securities, and Barclays have updated their ratings and price targets, indicating varying levels of optimism. Baxter's financials reveal challenges in revenue growth, net margin, ROE, ROA, and debt management, despite positive developments like the acquisition of Hillrom.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 9:00 pm

DECA

Denali Capital Acquisition Corp. has announced an extension of the deadline to complete its business combination from May 11 to June 11. This extension provides additional time for Denali Capital Acquisition Corp. to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 8:38 pm

DECA

Denali Capital Acquisition Corp. (DECA) has extended the deadline to complete its business combination from May 11, 2024, to June 11, 2024. This extension provides additional time for DECA to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 8:35 pm

BAC

Bank of America advises shareholders to reject Tutanota LLC's mini-tender offer to buy up to 1M shares at $40 each, citing the offer's below-market price conditioned on BAC's stock closing above $40 on the offer's last day.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 8:34 pm