Streetbeat News

Acquisitions Mergers

BTCUSD

ETHUSD

SPY

Cryptocurrencies including Bitcoin, Ethereum, and Dogecoin face a downturn with $1.15B in potential liquidations. Veteran traders predict a surprise rally for Bitcoin, while Shiba Inu's developer disputes a misquote. Dogecoin's support from Elon Musk keeps it in the spotlight. Ethereum's co-founder sells $100K of ETH amid a dip. US markets show mixed signals with the Fear & Greed Index entering 'Greed' zone and Dow dropping. Nikki Haley's withdrawal from the 2024 Presidential race could favor Trump. US and global politics, economy updates, and tech and EV sector movements, including Tesla's strategies and Rivian's efficiency improvements, are highlighted.

Portfolio Pulse from Akanksha Bakshi

March 06, 2024 | 2:17 pm

AAPD

AAPL

AAPU

BRK

Apple Inc's stock has declined by 11% this year, hitting a 4-month low, amid various challenges including a significant drop in iPhone sales in China, a $2 billion EU antitrust fine, the closure of its electric car program, and lagging in the AI boom. Berkshire Hathaway, holding nearly 1 billion shares of Apple, may consider selling its stake, potentially impacting the stock further. Direxion offers inverse ETFs for traders to bet against Apple's stock.

Portfolio Pulse from Johnny Rice

March 06, 2024 | 2:13 pm

PLTR

Palantir Technologies Inc. (NYSE:PLTR) shares surged in premarket trading after securing a $178.4 million contract from the Army Contracting Command for the TITAN ground station system, leveraging AI and ML for deep-sensing capabilities. Additionally, Palantir announced over 60 customers will showcase at its AIPCon, including 20+ new customers and partners. The company also revealed a new partnership with the Ministry of Economy of Ukraine, contributing to the stock's 9.45% increase to $26.06.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 1:53 pm

CJET

Chijet Motor Company, Inc. (NASDAQ:CJET), a Chinese high-tech enterprise, has exported 100 Senia R7 taxis to Colombia through its subsidiary FAW Jilin, marking a significant step in its global expansion. The deal is valued at $785,000. This move into South America reflects Chijet's commitment to entering new markets and its focus on sustainable transportation. The company anticipates increased exports in 2024 and plans further expansion into North Africa, the Middle East, Central Asia, and Oceania.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:38 pm

TWIN

Twin Disc, Inc. has entered into a definitive agreement to acquire Katsa Oy for approximately $23 million in an all-cash transaction. This strategic move aims to expand Twin Disc's product offerings and market presence.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:37 pm

CRWD

CrowdStrike Holdings Inc (NASDAQ:CRWD) shares surged following impressive Q4 financial results, beating revenue and EPS estimates. The company also provided a strong outlook for Q1 and FY 2025, exceeding analyst expectations. Additionally, CrowdStrike announced the acquisition of Flow Security, aiming to enhance its cloud security offerings. Analysts from Jefferies, Wells Fargo, Keybanc, Barclays, HSBC, and Mizuho have raised their price targets for CRWD.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 1:29 pm

SPY

UNG

Saudi Aramco and UAE's ADNOC are reportedly in discussions to invest in US LNG projects, signaling a significant interest in the expanding US liquefied natural gas sector. This move could enhance the global LNG supply chain and strengthen ties between these oil-rich nations and the US energy market.

Portfolio Pulse from Charles Gross

March 06, 2024 | 1:21 pm

FCOM

META

NVDA

XLC

Meta Platforms Inc (NASDAQ:META) is ending its authorized sales partner program to directly engage with advertisers, aiming for operational standardization. Entravision Communications, a key partner, is reassessing its strategy due to the program's significant revenue contribution. Meta's AI investments, including Nvidia Corp's (NASDAQ:NVDA) H100 GPUs, have been well-received, contrasting its earlier metaverse strategy. Investors can access Meta through ETFs like The Communication Services Select Sector SPDR Fund (NYSE:XLC) and Fidelity MSCI Communication Services Index ETF (NYSE:FCOM).

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 1:20 pm

APO

SBUX

AlShaya Group, a Starbucks Corp (SBUX) franchisee in the Middle East, plans to lay off over 2,000 employees, 4% of its workforce, due to business setbacks from Gaza war-related boycotts. The layoffs mainly affect Starbucks outlets. Apollo Global Management Inc (APO) is interested in acquiring a stake in AlShaya's Starbucks business. SBUX shares rose 0.47% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 1:18 pm

WULF

TeraWulf Inc. (NASDAQ:WULF) announced preliminary FY23 financial results with revenue of $69M, up from $15M in FY22, and a gross profit of $41M, up from $4M in FY22. The company also reported significant debt reduction and cash increase. For FY24, TeraWulf projects strong growth, aiming for industry-leading bitcoin mining unit economics, and plans to expand its infrastructure capacity significantly. The company's strategy focuses on organic growth, debt reduction, and leveraging its zero-carbon energy-powered facilities.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 1:09 pm