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Acquisitions Mergers

AMZN

VCR

XLY

Amazon.com, Inc. (NASDAQ:AMZN) is expanding its AWS free credits program to include models from Anthropic, Meta, Mistral AI, and Cohere, aiming to boost its AI platform, Bedrock's market share. The company has invested $4 billion in Anthropic and offered over $6 billion in credits to startups over the past decade. In partnership with Y Combinator, Amazon is offering $500,000 in credits for AI models and chips. Competitors like Microsoft Azure and Google Cloud are also offering credits for AI models. The FTC has launched an inquiry into generative AI investments due to competitive concerns. Investors can gain exposure to Amazon through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR). AMZN shares are currently down 1.03% at $179.11.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:33 pm

AAPL

TSLA

UBS

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a market correction, with analysts predicting all-time highs for Bitcoin as its halving event nears. The US and UK are collaborating to regulate and address risks associated with emerging artificial intelligence technologies. In the US, market sentiment is cautious with Wall Street poised for a weak open, influenced by Fed speeches and key data. Internationally, the Russia-Ukraine conflict may reach a stalemate, and China is seen as a preferred ally in Southeast Asia. In tech, Apple unveils a new AI model, and Tesla's China sales offer hope ahead of its Q1 deliveries report. UBS announces a $2B buyback plan amid its Credit Suisse takeover.

Portfolio Pulse from Akanksha Bakshi

April 02, 2024 | 1:28 pm

GE

GEV

NETZ

PPA

GE Aerospace (NYSE:GE) has officially launched as an independent public company following the spin-off of GE Vernova (NYSE:GEV). Both companies will ring the NYSE opening bell on April 2, 2024. GE Aerospace, with a significant global presence in commercial and military engines, expects a $10 billion operating profit by 2028 and plans to return 70%-75% of available funds to shareholders this year. GE Vernova, focusing on power generation, aims for mid-single digit organic revenue growth and a 10% adjusted EBITDA margin by 2028. TCW Transform Systems ETF (BATS:NETZ) and Invesco Aerospace & Defense ETF (NYSE:PPA) offer exposure to these stocks.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:27 pm

GDNSF

Goodness Growth Holdings, Inc. (OTC:GDNSF) reported a significant increase in Q4 2023 revenue, gross margin, and operating profits, with revenue reaching $24.2 million, a 34.4% increase year-over-year. Operating income for Q4 was $5.4 million, marking the second consecutive quarter of surpassing the $5 million threshold. The company also highlighted the successful execution of its CREAM & Fire strategy and anticipates the launch of adult-use cannabis sales in Minnesota in 2025. Additionally, Goodness Growth announced the divestiture of its New York operations to ACE Venture Enterprises, Inc., including a $20 million investment from Ace for development and assumption of the IIP lease.

Portfolio Pulse from Nicolás Jose Rodriguez

April 02, 2024 | 1:27 pm

BLK

DIS

STT

Disney (NYSE:DIS) is gaining support from major investors like BlackRock (NYSE:BLK) and T. Rowe Price in its proxy battle against Trian Partners. The battle, which could become the most expensive in history, centers on board representation and the direction of the company. Despite Disney's current lead, the outcome remains uncertain with the annual meeting approaching. Trian, advocating for board restructuring for better returns, collaborates with significant shareholders like former Marvel chairman Ike Perlmutter.

Portfolio Pulse from Vandana Singh

April 02, 2024 | 1:22 pm

AVCNF

Avicanna Inc. (AVCNF) reported a 314% year-over-year increase in total revenue for 2023, reaching $12.3 million. The growth is attributed to the acquisition of Medical Cannabis by Shoppers and the launch of MyMedi.ca. Gross profit saw a nearly 500% increase to $6.64 million. Despite the revenue and profit growth, the company reported a net loss of $8.7 million, a 40% improvement from the previous year. Shares of Avicanna traded 2.1450% higher at $0.4 per share after the market close on Monday.

Portfolio Pulse from Jelena Martinovic

April 02, 2024 | 1:18 pm

VMD

Viemed Healthcare, Inc. (NASDAQ:VMD) has finalized a strategic partnership with East Alabama Health, acquiring a majority interest in East Alabama HomeMed, LLC. This partnership is expected to generate an incremental annualized revenue of approximately $4 million for Viemed. The collaboration aims to enhance home medical services within the EAH network and can serve as a model for future nationwide expansions.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:04 pm

ESEA

Euroseas Ltd. (NASDAQ:ESEA) announced a one-year time charter contract for its containership, M/V Synergy Antwerp, at a daily rate of $26,500, starting April 2, 2024. The ship underwent retrofits, including energy-saving devices, expected to reduce CO2 emissions by 9,800 metric tons annually. These upgrades are part of Euroseas' efforts to modernize its fleet and reduce its carbon footprint. The charter is expected to contribute about $6.5 million of EBITDA and increases Euroseas' 2024 charter coverage to 80%.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:03 pm

BECN

Beacon Roofing Supply has entered into an agreement to acquire Smalley & Company. The financial terms of the deal were not disclosed. The transaction's completion is contingent upon a majority vote from the plan's participants, allowing the ESOP Trustee to approve the sale.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:02 pm

MS

Morgan Stanley Capital Partners (MSCP) has acquired a controlling interest in Resource Innovations, a company specializing in energy efficiency and sustainability services. The acquisition, terms of which were not disclosed, sees Resource Innovations' CEO Lauren Casentini remain in her role and retain significant equity. This marks MSCP's third investment in industrials and outsourced services, highlighting Resource Innovations' growth and potential in energy policy implementation and clean energy transition.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:01 pm