Streetbeat News

Acquisitions Mergers

BLK

Blackrock has issued $3 billion in debt to partially fund its planned acquisition of Global Infrastructure Partners. This strategic move aims to bolster Blackrock's position in the infrastructure investment sector.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:01 am

ILMN

VGK

The European Union has approved Illumina's plan to divest Grail, a significant move that could impact Illumina's strategic direction and financial outlook. This decision by the EU may influence Illumina's stock as it navigates the divestiture process.

Portfolio Pulse from Charles Gross

April 12, 2024 | 9:48 am

BTCUSD

Hong Kong is poised to become a key player in the cryptocurrency ETF market, potentially accelerating Bitcoin's rise to $100,000. Insider sources indicate that spot Bitcoin ETFs may launch in Hong Kong this month, with Chinese asset managers like China Asset Management, Harvest Fund Management, and Bosera Asset Management leading the initiative. The introduction of these ETFs is expected to attract significant global investment, mirroring the success seen in the U.S., where Bitcoin ETFs have amassed $58 billion in assets. This development comes despite China's ban on cryptocurrency trading, highlighting Hong Kong's strategic position to tap into the crypto market through more lenient regulations.

Portfolio Pulse from Ramakrishnan M

April 12, 2024 | 7:33 am

SOL

Marginfi, a Solana-based DeFi protocol, experienced over $214 million in withdrawals following the resignation of its CEO, Edgar Pavlovsky, due to internal disagreements. The departure led to significant fund outflows and a public dispute with Solana staking pool SolBlaze over governance token management. Competitor Solend capitalized on the situation by offering airdrops to dissatisfied Marginfi users. Despite these challenges, Marginfi is committed to mending its partnership with SolBlaze and moving forward.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 6:52 am

TSLA

Mercedes-Benz, India's leading luxury car seller, views Tesla Inc.'s potential entry into the Indian market positively, expecting it to boost the overall electric vehicle (EV) market growth. Mercedes plans to keep its EV charging bays open for Tesla and other brands, reflecting confidence in the expanding market. Despite Tesla's lower price points, Mercedes remains optimistic, citing a record-breaking first quarter in 2024 with plans to introduce three new electric models. The company anticipates EVs could account for 25% of its sales by 2030.

Portfolio Pulse from Shomik Sen Bhattacharjee

April 12, 2024 | 6:13 am

LBAI

PFS

The Federal Reserve has approved the merger between Provident Financial Services and Lakeland Bancorp, paving the way for the consolidation of these two financial institutions.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 5:52 am

STT

State Street Corporation (NYSE:STT) is anticipated to report Q1 earnings of $1.50 per share, a slight decrease from $1.52 the previous year, with revenue expected at $3.06 billion, down from $3.1 billion. The company completed the acquisition of CF Global Trading on Feb. 1. Shares dropped 0.6% to $73.91 recently. Analysts have updated their ratings, with price targets ranging from $81 to $92, reflecting varied expectations.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 4:55 am

COIN

HOOD

MSFT

PLTR

TSLA

Ark Invest, led by Cathie Wood, announced an investment in OpenAI through the Ark Venture Fund. This investment gives exposure to various companies including private entities like SpaceX and public companies such as Microsoft, which has invested $13 billion in OpenAI. The Ark Venture Fund, with $53.7 million in assets, has seen a 34.7% increase in the net asset value of shares over the past year. Top public holdings include Coinbase, Robinhood, Palantir, and Tesla.

Portfolio Pulse from Chris Katje

April 11, 2024 | 10:22 pm

MSTR

Peter Schiff predicts a significant crash for Bitcoin, attributing it to speculative ETF buyers selling off, leading to a lack of liquidity. He also foresees a potential bankruptcy for MicroStrategy (NASDAQ:MSTR) due to its heavy investment in Bitcoin. Schiff criticizes the blockchain and Bitcoin as a 'Digital Ponzi' scheme and questions MicroStrategy's financial strategies. Despite Bitcoin's recent losses, analysts predict its holdings will increase significantly by 2025.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 9:53 pm

GATO

IE

MT

MTUS

Ivanhoe Electric (IE) and Ma'aden completed Q1 exploration in Saudi Arabia, identifying high-priority drill sites. Metallus (MTUS) joined the Global Steel Climate Council, investing over $10M in sustainability efforts. ArcelorMittal (MT) undergoes a safety audit by dss+ with results expected in September 2024. BMO Capital maintains Gatos Silver (GATO) with a Market Perform rating, raising the price target to $9.

Portfolio Pulse from Austin DeNoce

April 11, 2024 | 9:04 pm