Streetbeat News

Acquisitions Mergers

AMZN

CMCSA

DIS

WBD

Amazon Prime Video is nearing a deal with the NBA to become a primary broadcaster for league games, starting the 2025-2026 season. This deal, expected to last at least a decade, includes significant regular and postseason games. ESPN/ABC is also finalizing a similar long-term agreement, maintaining the Finals broadcast. The negotiations leave Warner Bros. Discovery's TNT Sports and Comcast's NBC competing for the remaining game packages. The NBA aims to incorporate streaming in its broadcasting strategy, impacting traditional broadcasters.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:47 pm

AIQ

ANET

BOTZ

COHR

DELL

FLEX

JBL

ROBO

Microsoft, Alphabet, and Meta's increased investments in AI and cloud capex are expected to benefit Arista Networks, Coherent Corp, Dell Technologies, Lumentum Holdings, Flex Ltd., and Jabil Inc., according to a JPMorgan report. This investment surge indicates a strong year ahead for data center capex, with industry growth forecasts for data center investments from top CSPs now in the mid-teens range for 2024. AI-focused ETFs like BOTZ, AIQ, and ROBO are also anticipated to see positive impacts.

Portfolio Pulse from Surbhi Jain

April 26, 2024 | 7:37 pm

NEM

Recent analyst ratings for Newmont (NYSE:NEM) show a mix of perspectives, with a total of 5 analysts offering their views. The ratings range from bullish to indifferent, with no bearish outlooks. Over the last 30 days, there has been a shift towards a more cautious stance compared to previous months. Analysts have adjusted their 12-month price targets for Newmont, resulting in an average target of $46.5, down 8.82% from the previous average. Notable actions include adjustments by analysts from TD Securities, Citigroup, Scotiabank, BMO Capital, and RBC Capital, with changes in ratings and price targets reflecting varying expectations for the company's performance. Newmont, the world's largest gold miner, has recently acquired Newcrest and is expected to sell some higher cost mines. Despite a positive revenue trend, Newmont faces challenges with its net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 7:01 pm

INTC

KKR

Apollo, KKR, and Stonepeak are reportedly considering an investment in a chip joint venture with Intel, according to Bloomberg. This move could signal a significant partnership in the semiconductor industry, potentially boosting Intel's capabilities and financial resources.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:57 pm

PARA

PARAA

Matrix Asset Advisors express that the majority of Paramount shareholders oppose the Paramount/Skydance deal, believing it does not serve their interests, according to CNBC.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:55 pm

BDRX

ICLK

MSFT

NUWE

SAIA

SNAP

ULH

U.S. stocks saw gains with the Dow Jones rising over 200 points, led by Microsoft's positive earnings report. Microsoft's shares increased by more than 2% after reporting a 17% year-over-year revenue increase to $61.9 billion, surpassing estimates. Other notable movements included Biodexa Pharmaceuticals surging 78% due to an exclusive license agreement, Snap Inc. rising 26% on strong financial results, and Universal Logistics Holdings gaining 37% after exceeding quarterly expectations. Conversely, iClick Interactive, Nuwellis, and Saia saw significant drops due to various negative announcements.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 6:50 pm

BNTX

CVAC

GSK

PFE

Acuitas Therapeutics and CureVac NV settled a lawsuit over COVID-19 vaccine patent credits. Acuitas accused CureVac of omitting its scientists from patent applications for lipid nanoparticle technology. This settlement comes amid broader legal battles involving CureVac, Pfizer, BioNTech, and now GSK over mRNA vaccine patents. A German court recently invalidated a CureVac patent central to its case against BioNTech and Pfizer. GSK has also sued Pfizer and BioNTech for patent infringement.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:45 pm

SPR

Fitch Ratings projects Boeing will maintain positive annual Free Cash Flow (FCF) with the potential to reach double-digit billions by the end of 2027. It also notes that a possible all-debt-funded acquisition of Spirit AeroSystems is included within Boeing's negative outlook.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:42 pm

ALPN

VRTX

Vertex Pharmaceuticals Inc (VRTX) has seen significant success with its cystic fibrosis drug Trikafta, generating $26 billion in revenues since 2019 and expected to reach $10 billion in annual sales next year. The company is now focusing on developing non-opioid painkillers, with VX-548 in late-stage trials and potential FDA approval this year. Vertex also acquired Alpine Immune Sciences Inc (ALPN) for $4.9 billion to develop treatments for autoimmune kidney disease. Analysts predict Vertex's new pain medication could bring in $2.3 billion in annual sales by 2030.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:34 pm

DJT

Trump Media & Technology Group (NASDAQ:DJT), after its SPAC merger with Digital World Acquisition Corporation, has seen its stock fluctuate significantly. Short sellers and investors buying put options have reportedly made $200 million in paper profits as the stock declined from its peak. Despite a high cost to borrow and a significant portion of the float being shorted, the stock has recently gained, partly due to news on short selling and Trump's ongoing legal issues. Trump owns a majority in the company, which complicates potential stock sales and short selling strategies.

Portfolio Pulse from Chris Katje

April 26, 2024 | 6:34 pm