Streetbeat News

Acquisitions Mergers

GNS

Genius Group Limited (NYSE:GNS) and OpenExO have signed a definitive merger agreement in an all-share transaction to form a global AI Education Group. This merger aims to serve a network of 100 Genius Cities and prepare 100 million students for the future. The merger, leveraging OpenExO's global community and AI-driven tools, is expected to accelerate Genius Group's growth towards achieving $1 billion in annual revenues and expanding its educational and entrepreneurial ecosystem.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:03 pm

SOLUSD

WIF

The original Dogwifhat meme image was auctioned for $4.3 million or 1,210 Ether by the pseudonymous trader GCR. The image, which contributed to the popularity of the Dogwifhat (WIF) meme coin on the Solana (SOL) blockchain, was sold on the Foundation auction site. GCR, known for their market analyses and accurate forecasts, won the image after a bidding war. Following the auction, Dogwifhat (WIF) saw a 16% increase in its price.

Portfolio Pulse from Murtuza Merchant

March 18, 2024 | 4:58 pm

AMZN

CRWD

GOOG

META

MSFT

NVDA

ORCL

PANW

QOWZ

TRFK

Nvidia's GTC 2024 event, termed the 'AI Woodstock', is anticipated to showcase groundbreaking AI innovations, driving significant analyst enthusiasm. Wedbush analyst Daniel Ives predicts the event will catalyze over $1 trillion in AI investments over the next decade, marking a pivotal moment in the AI Revolution. The introduction of the Blackwell B100 AI chip is highlighted as a key milestone. Major tech companies like Microsoft, Alphabet, Amazon, Oracle, and Meta are noted for their transformative AI investments. The AI sector's growth is expected to significantly impact IT budgets and spur additional spending across software, IT services, and infrastructure. The article also mentions the positive outlook for cloud cybersecurity firms like Zscaler, CrowdStrike, and Palo Alto Networks due to increased AI adoption. Analysts from Truist Securities and HSBC have raised their price targets for Nvidia, reflecting a bullish sentiment on the stock.

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 4:56 pm

AZUL

Azul TecOps, a business unit of Azul (AZUL), has received certification from the European Union Aviation Safety Agency (EASA) to provide aircraft and component maintenance services to EU companies. This certification, valid for 2 years with renewal possibility, marks Azul TecOps' first international endorsement and allows it to expand its services beyond Brazil. The certification process involved training over 750 crew members and conducting internal audits. Azul TecOps, leveraging its 15+ years of operational experience and diverse fleet, aims to capture new customers and generate significant revenue in the EU.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 4:52 pm

AMD

DELL

HPE

NVDA

PAMC

SMCI

XMHQ

Super Micro Computer, Inc (NASDAQ:SMCI) is set to join the S&P 500, leveraging its strategic partnerships with Nvidia Inc (NASDAQ:NVDA) and Advanced Micro Devices Inc (NASDAQ:AMD) to stay at the forefront of the generative AI revolution. Its close proximity to these chip giants has enabled rapid growth and a competitive edge over Dell Technologies Inc (NYSE:DELL) and Hewlett Packard Enterprise Co (NYSE:HPE), leading to a 289% share surge this year. Super Micro's strategy and expansion plans aim to increase its server production for AI applications, with revenues more than doubling in the final quarter of 2023. Investors can gain exposure to Super Micro through Pacer Lunt MidCap Multi-Factor Alternator ETF (NYSE:PAMC) and Invesco S&P MidCap Quality ETF (NYSE:XMHQ).

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 4:47 pm

U.S. Steel (NYSE:X) forecasts Q1 EPS of $0.80-$0.84, below the consensus of $0.89, with adjusted EBITDA around $425 million. The company expects improvements in its Flat-Rolled and Mini Mill segments, while anticipating a decline in the Tubular segment. The merger with Nippon Steel is highlighted as a strategic move towards becoming the 'Best Steelmaker'. Last quarter, U.S. Steel exceeded earnings expectations, and its shares saw a slight increase.

Portfolio Pulse from Lekha Gupta

March 18, 2024 | 4:40 pm

WAVD

WaveDancer, Inc. (NASDAQ:WAVD) shares surged after receiving necessary stockholder approvals for its merger with Firefly Neuroscience, Inc. The merger, expected to complete in Q2 2024, will see the combined entity operate under Firefly Neuroscience, Inc. and trade on the Nasdaq. WaveDancer's stock has seen significant fluctuations, with a 40.41% decrease over the past year but a 68.35% increase over the past month. The stock is currently considered overbought with an RSI of 85.69.

Portfolio Pulse from Erica Kollmann

March 18, 2024 | 4:25 pm

GOEV

SOND

SWIN

VERB

WKSP

WLDS

U.S. stocks traded higher with the Dow, NASDAQ, and S&P 500 all seeing gains. The NAHB/Wells Fargo Housing Market Index rose to 51 in March, indicating a positive outlook for the housing market. Canoo Inc. (GOEV) surged 53% after its Oklahoma City facility was approved as a Foreign Trade Zone. Wearable Devices Ltd. (WLDS) and Verb Technology Company, Inc. (VERB) also saw significant gains. Conversely, Solowin Holdings (SWIN), Sonder Holdings Inc. (SOND), and Worksport Ltd. (WKSP) experienced notable declines.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 4:20 pm

GSK

HLN

PFE

Pfizer Inc plans to reduce its stake in Haleon Plc to about 24%, selling approximately 630 million shares valued at £2 billion. This follows Pfizer's strategy to divest its ownership in Haleon, a company known for brands like Sensodyne, which emerged from a merger between Pfizer's and GSK Plc's consumer healthcare divisions in 2019. Haleon intends to buy back £500 million of shares in 2024 and repurchase about £315 million of shares from Pfizer off-market. GSK has also been reducing its stake in Haleon, with its latest sale in January bringing its ownership down to 4.2%.

Portfolio Pulse from Vandana Singh

March 18, 2024 | 4:08 pm

BABA

CGRO

PGJ

Alibaba Group Holding Ltd (NYSE:BABA) has appointed Yan Xiaolei as the new CEO of its grocery division, Freshippo, amidst efforts to recover from regulatory challenges and competition. Alibaba is also partnering with Huawei to develop apps for HarmonyOS, aiming to compete with Google's Android and Apple's iOS in China. This move includes transitioning Alibaba's major apps to HarmonyOS. Alibaba continues to invest in AI and diversification, including efforts to revive Hong Kong's cultural sectors. BABA shares saw a slight increase, and exposure to Alibaba can also be gained through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 3:57 pm