Streetbeat News

Acquisitions Mergers

AAPL

AMZN

DIS

LLY

NKLA

XLE

Recent economic data and Federal Reserve officials' remarks have led investors to adjust expectations for interest rate cuts, as the U.S. economy shows resilience with job growth and manufacturing expansion. Energy stocks, particularly the Energy Select Sector SPDR Fund, benefited from rising oil prices. Apple is refocusing on home robotics, potentially entering a new market. Disney's board received strong shareholder support, affirming CEO Bob Iger's leadership. Eli Lilly faces supply challenges for its popular weight loss drugs on Amazon Pharmacy. Nikola Corp outperformed other EV stocks, including Tesla, Rivian, and Lucid, highlighting its recovery and focus on hydrogen fuel cell trucks.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 8:23 pm

AIR

AAR CORP. (NYSE:AIR) has initiated the expansion of its MRO facility in Oklahoma City, with the new facility expected to be operational by early 2026. This expansion, supported by a grant and rent concessions, aims to accommodate all 737 variants and is in line with a recently expanded maintenance commitment from Alaska Airlines. The project, which will create 200 additional full-time jobs, underscores AAR's growth and its collaboration with local and state entities, including the Oklahoma City Airport Trust.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 7:14 pm

CRH

CRH has acquired BoDean Company Inc. and Northgate Ready Mix, LLC, marking its first entry into the California market. These acquisitions add significant resources to CRH's Materials Solutions business, including two aggregates quarries, two ready mixed concrete plants, one asphalt plant, and one recycle plant, enhancing its offerings in Northern California. The move is part of CRH's strategy to capitalize on the construction market in California, one of the largest in the U.S., and to provide integrated solutions to customers with a focus on quality, innovation, and sustainability.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 7:13 pm

SPNS

Sapiens International is reportedly exploring a sale, according to sources cited by Reuters. This news could indicate a significant shift in the company's strategy and potentially impact its stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 6:58 pm

MATICUSD

MadFi, the team behind BONSAI, a memecoin, has raised $1 million in an angel round to support its growth on the Lens Protocol, a decentralized social media platform. BONSAI, launched in March 2024 and initially distributed via airdrop to Lens users, has become the platform's primary currency, facilitating content monetization and user engagement. The coin's valuation has reached nearly $100 million. The funding round saw participation from crypto investment firms and notable figures like Robert Leshner and Sandeep Nailwal. MadFi plans to use the funds to develop 'Open Actions' to enhance creator monetization on Lens.

Portfolio Pulse from Murtuza Merchant

April 05, 2024 | 6:52 pm

FQVLF

GOLD

Zambia aims to increase its copper production to 1 million tons by 2026, leveraging the revival of Konkola Copper Mines and investments in existing mines like First Quantum Minerals' Kansanshi and Barrick's Lumwana. The emergence of KoBold Metals' AI-powered Mingomba project, potentially one of the world's largest mines, further boosts this goal. Despite facing debt restructuring challenges, Zambia remains optimistic about reaching its copper production targets.

Portfolio Pulse from Stjepan Kalinic

April 05, 2024 | 6:28 pm

BDSX

GCTS

HUBC

MDIA

STIX

ZGN

U.S. stocks saw significant gains with the S&P 500 rising over 1%. GCT Semiconductor shares surged 52% after signing an MOU with Aramco for 4G and 5G development in Saudi Arabia. MediaCo Holding shares skyrocketed 190% due to a major stake acquisition by Standard General. HUB Cyber Security also gained 35% after announcing $8 million in financing. Conversely, Semantix, Ermenegildo Zegna, and Biodesix saw notable declines in their stock prices.

Portfolio Pulse from Avi Kapoor

April 05, 2024 | 6:20 pm

BYDDY

RIVN

TSLA

Tesla regained its title as the world's top EV seller, surpassing BYD, despite a challenging quarter. BYD continues its aggressive expansion, planning to launch an electric pickup that could compete with Tesla's Cybertruck and Ford's F-150 Lightning. Ford faces challenges with demand for the Lightning and cut workforce at its plant. BYD also announced an ultra-cheap car and a supercar, targeting various market segments. Rivian announced reaching 100,000 EVs produced and unveiled new models, aiming to continue its growth amidst rising competition.

Portfolio Pulse from Upwallstreet

April 05, 2024 | 6:14 pm

AKR

KIM

ROIC

SKT

BofA Securities analyst Jeffrey Spector updated ratings for several retail REITs following a Retail Executive Summit. Acadia Realty Trust (AKR) was upgraded to Buy with a price target of $20, reflecting a positive growth outlook. Tanger Inc. (SKT) was upgraded to Neutral with a price target of $31, due to a strong platform and balance sheet. Kimco Realty Corporation (KIM) was downgraded to Neutral with a price target of $20, following less accretion from its acquisition of RPT Realty. Retail Opportunity Investments Corp. (ROIC) was downgraded to Underperform with a price target of $12, due to higher risk from dilutive acquisitions.

Portfolio Pulse from Lekha Gupta

April 05, 2024 | 5:52 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares have fallen over 30% in the past five days amid concerns over its financial health and a request for a probe into its merger with Digital World Acquisition. The Congressional Integrity Project has asked for an investigation into potential influence peddling and corruption. Trump Media reported a revenue of $4.13 million for 2023 but warned of ongoing financial losses and negative cash flows.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 5:41 pm