Streetbeat News

Acquisitions Mergers

JVSA

Hotel101 Global, a subsidiary of DoubleDragon Corporation, is set to merge with JVSPAC Acquisition Corp (NASDAQ:JVSA), aiming for a Nasdaq listing under the ticker 'HBNB' with a $2.3B equity value. The merger, expected to close in the second half of 2024, is subject to regulatory and shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 7:16 am

CMPUY

EXNWF

Morgan Stanley has highlighted three underappreciated tech stocks with significant growth potential: CompuGroup Medical (OTC:CMPUY), Exclusive Networks (OTC:EXNWF), and W.A.G. Payment Solutions. These stocks are considered undervalued with attractive valuations and have been given an overweight rating by the bank. CompuGroup has a price target of 37 euros, suggesting a 23% upside, while W.A.G. Payment Solutions has a target of 135 pence, indicating a 98.5% upside. Exclusive Networks has a price target of 26.5 euros, a 15.7% upside. This comes amid a volatile market scenario, with some analysts predicting continued bull runs and others warning of potential corrections.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 6:31 am

BTCUSD

Ripple CEO Brad Garlinghouse predicts the cryptocurrency market will reach a $5 trillion capitalization this year, driven by the launch of U.S. spot Bitcoin ETFs and the upcoming bitcoin halving. The optimism is also supported by the influx of institutional money and potential positive regulatory changes in the U.S.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 4:59 am

BTCUSD

Anthony Scaramucci, founder of SkyBridge Capital, predicts a bright future for Bitcoin, attributing its potential growth to increasing demand and decreasing supply. He emphasizes the role of Bitcoin spot market ETFs in attracting new capital and overcoming regulatory barriers. Scaramucci notes the rapid inflow of funds into Bitcoin ETFs, surpassing $10 billion in the first quarter, and contrasts this with the slower pace of the gold ETF GLD. He also highlights the upcoming Bitcoin halving event, which will reduce the daily issuance of new coins, as a factor that has not been fully priced into the market. Bitcoin was trading at $69,866.66, up by almost 3% in the last 24 hours.

Portfolio Pulse from Bibhu Pattnaik

April 07, 2024 | 7:36 pm

ETHUSD

SOLUSD

The article discusses the impact of crypto on society, focusing on Friend.tech's upcoming airdrop, influencer Ansem's role in the crypto community, and broader concerns about the 'dumbing down of America.' Friend.tech, likened to a crypto version of Onlyfans, is gaining attention for its airdrop of $FRIEND tokens. Ansem, a prominent Solana supporter, is highlighted for his market influence. The piece also touches on societal shifts towards a service and information economy, as critiqued by Carl Sagan in 1995, suggesting crypto may be exacerbating these trends.

Portfolio Pulse from Ivan Crnogatić

April 07, 2024 | 2:54 pm

GOOG

GOOGL

TSLA

Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) retains its title as America's Most Innovative Company for 2024 despite facing AI mishaps and internal criticism. CEO Sundar Pichai addresses the inaccuracies of the Gemini AI chatbot, amidst calls for his resignation. Apple and Microsoft are ranked second and third, respectively, in innovation. Alphabet's market capitalization stands at $1.906 trillion, with Bill Ackman expressing confidence in the company's investment potential despite AI challenges.

Portfolio Pulse from Ananya Gairola

April 07, 2024 | 12:21 pm

AAPL

AMZN

GOOGL

MSFT

TSLA

This week in tech, Apple Inc. outperformed OpenAI with its new AI model ReALM, Amazon faced scrutiny over its 'Just Walk Out' technology, Cathie Wood of Ark Invest showed strong support for Tesla, predicting a significant stock price increase, OpenAI is poaching Tesla engineers, and Dan Ives of Wedbush predicts a 15% tech stock rally in 2024, highlighting Alphabet Inc.'s potential.

Portfolio Pulse from Benzinga Neuro

April 07, 2024 | 6:28 am

AAPL

MSFT

Apple Inc. (NASDAQ:AAPL) had a significant week with developments including unveiling a new AI model, ReALM, celebrating its 48th birthday, rumors about the iPhone 16 Pro, conducting layoffs, and releasing the iOS 17.5 beta update. The new AI model outperforms Microsoft Corp.-backed OpenAI's GPT-4, and the company plans a new titanium finish for the iPhone 16 Pro. Layoffs affected 121 people from the Siri annotation team.

Portfolio Pulse from Benzinga Neuro

April 07, 2024 | 6:07 am

APO

PARA

Paramount Global (NASDAQ:PARA) is in exclusive negotiations to be sold to Skydance Media, with a potential deal involving over $2 billion in cash for National Amusements, controlled by Shari Redstone, and a subsequent all-stock transaction worth approximately $5 billion for the acquisition of Skydance by Paramount. This deal could dilute the ownership of nonvoting shareholders. Apollo Global Management, Inc. (NYSE:APO) also submitted a $26 billion bid for Paramount, which includes the assumption of debt, potentially impacting the negotiations with Skydance. The merger could enhance Paramount's flexibility in managing major franchises.

Portfolio Pulse from Nabaparna Bhattacharya

April 06, 2024 | 6:28 pm

CANOO

KARS

NKLA

RIVN

TSLA

Electric vehicle stocks experienced a sell-off in the week ending April 5, influenced by broader market trends and company-specific news. Tesla reported its first year-over-year sales decline since Q2 2020, attributing it to production transitions and disruptions. Despite this, Ark Invest purchased $76 million in Tesla shares. Rivian celebrated its 100,000th vehicle production, while Nikola exceeded Q1 delivery expectations. Ford delayed its EV production plans, and Canoo's shares plummeted after a disappointing forecast. The KraneShares Electric Vehicles ETF saw a slight increase on Friday but fell overall for the week.

Portfolio Pulse from Shanthi Rexaline

April 06, 2024 | 1:17 pm