Streetbeat News

Acquisitions Mergers

FDX

LULU

NKE

The CNN Money Fear and Greed index indicated a decline in market sentiment, yet the Dow Jones experienced its strongest week since December. Despite this, the S&P 500 and Nasdaq showed mixed results. Lululemon and Nike shares dropped significantly after their earnings reports, while FedEx shares surged following a positive earnings announcement and a new share repurchase program. The U.S. oil rig count decreased slightly. Sectors such as real estate, financial, and consumer discretionary faced losses, whereas information technology and communication services saw gains. Investors are looking forward to earnings results from Westport Fuel Systems, BuzzFeed, and Dada Nexus.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 6:44 am

GOOG

TSLA

Charles Ruizhongtai Qi, a former Waymo staff research scientist and tech lead manager, has announced his move to Tesla Inc to work on its full self-driving software. Qi, who has been with Waymo since October 2019, expressed his continued interest in Tesla and its approach to autonomous driving. He praised Waymo for its achievements in scaling robotaxi services but decided to join Tesla to contribute to its Autopilot team. Meanwhile, Waymo's rival, Cruise, faces operational suspension in the U.S. after a robotaxi accident.

Portfolio Pulse from Anan Ashraf

March 25, 2024 | 5:09 am

AMD

INTC

China has announced guidelines to phase out US microprocessors from Intel Corp. (INTC) and Advanced Micro Devices, Inc. (AMD) in government PCs and servers by 2027, aiming to replace them with domestic technology. This move also targets replacing Microsoft Windows and foreign-made database software with local alternatives, as part of China's strategy to boost domestic technology amidst escalating US tensions.

Portfolio Pulse from Benzinga Neuro

March 25, 2024 | 3:27 am

DWAC

Jeff Yass' firm, Susquehanna International Group, was revealed as the largest institutional shareholder in Digital World Acquisition Corp. (NASDAQ:DWAC), which merged with Trump Media & Technology Group. Susquehanna, a market maker, claims to have zero economic interest in Trump Media, balancing its long position with equivalent short positions. Amidst Trump's financial challenges, including significant legal bills and a potential property 'fire sale', concerns are raised about the implications of his financial decisions on his assets and associated companies.

Portfolio Pulse from Benzinga Neuro

March 25, 2024 | 1:38 am

DWAC

Rep. Alexandria Ocasio-Cortez expressed concerns over the risk of not seizing Donald Trump's assets amid his New York fraud case, highlighting potential political corruption and interesting transactions with Truth Social. Trump faces a $454 million judgment and is expected to post a bond or risk asset seizure. Despite claims of insufficient cash, Trump stated he had nearly $500 million. Trump Media & Technology Group, parent of Truth Social, is set to trade under DJT on NASDAQ after a merger with Digital World Acquisition Corp. (NASDAQ:DWAC).

Portfolio Pulse from Benzinga Neuro

March 25, 2024 | 1:20 am

FMST

ILIT

Foremost Lithium Resource & Technology Ltd (NASDAQ:FMST) has initiated drilling at its Snow Lake site in Manitoba, Canada, with anticipation of a C$10 million grant from Canada's Critical Mineral Infrastructure Fund to support North American lithium production for electric vehicles and batteries. The company is implementing a direct ship ore strategy to enhance operations and is unaffected by recent lithium price drops, focusing on long-term goals and production set for 2025. The iShares Lithium Miners and Producers ETF (NYSE:ILIT) has seen an 18% decrease since the year's start amid falling lithium prices.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 8:10 pm

CAT

NMG

PCRFY

Nouveau Monde Graphite (NYSE:NMG) is challenging China's dominance in the graphite supply chain, critical for lithium-ion batteries. With China restricting graphite exports, NMG's Quebec deposits and partnerships with Panasonic (OTC:PCRFY) and General Motors (NYSE:GM) position it as a key North American supplier. Caterpillar Inc (NYSE:CAT) is collaborating with NMG to create the world's first all-electric open pit mine, emphasizing responsible mining.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 7:13 pm

CCJ

DBO

UNG

URA

URNM

USO

Rick Rule, a seasoned investor in natural resources, emphasizes the importance of contrarian investing in the volatile mining sector. He highlights the cyclical nature of these industries and the necessity to invest in commodities priced below production costs. Rule notes the recent boom and subsequent decline in Uranium prices, suggesting the easy money has been made. He recommends Cameco Corp (CCJ) for investors interested in Uranium. Rule also believes oil and gas remain lucrative despite market skepticism, citing the minimal impact of alternative energies on hydrocarbon market share.

Portfolio Pulse from Natan Ponieman

March 24, 2024 | 6:00 pm

DWAC

Former President Donald Trump is considering selling his stock in Digital World Acquisition Corp. (NASDAQ:DWAC) to pay over $450 million in legal bills. DWAC's stock plummeted nearly 14% after news of a merger to take Truth Social's parent company, Trump Media & Technology Group (TMTG), public. Trump, holding a 58% stake in TMTG, faces restrictions on selling his shares for six months, though this may change with the new board, including his son. TMTG's co-founders are suing Trump, adding to the company's challenges as it prepares to trade under the ticker DJT.

Portfolio Pulse from Bibhu Pattnaik

March 24, 2024 | 1:46 pm

TSLA

This week in politics and business saw significant events including Stephanie Grisham's prediction on Trump's reaction to potential property seizures by Letitia James, Mark Cuban's support for Joe Biden, Elon Musk's critique of Jimmy Kimmel, Musk's disapproval of a fine against Trump, and Jared Kushner's $500M Serbian real estate venture. Notably, Elon Musk took a stand against Jimmy Kimmel's humor and voiced his disapproval of a fine imposed on Donald Trump.

Portfolio Pulse from Benzinga Neuro

March 24, 2024 | 7:48 am