Streetbeat News

Acquisitions Mergers

CPB

Campbell Soup Company (NYSE:CPB) reported a slight decline in Q2 FY24 revenue but beat analyst estimates, with a 1.2% year-on-year decrease to $2.46 billion. The company saw a gross margin expansion and an increase in adjusted EBIT. Adjusted EPS also surpassed expectations. Campbell reaffirmed its FY24 outlook and highlighted the anticipated acquisition of Sovos Brands to boost its Meals & Beverages division. Shares rose 2.68% to $44.10.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 2:45 pm

CTLT

LLY

NVO

Eli Lilly (LLY) and Novo Nordisk (NVO) are intensifying efforts to meet the surging demand for obesity drugs by expanding production capacities through collaborations and acquisitions. Eli Lilly has partnered with National Resilience and BSP Pharmaceuticals to increase the production of its obesity drug, Zepbound. Despite Novo Nordisk's acquisition of three fill-finish plants from Catalent Inc (CTLT), scaling up production is anticipated only by 2026. The global contract drug manufacturing market is expected to grow significantly, yet supply constraints for obesity drugs may persist for years.

Portfolio Pulse from Vandana Singh

March 06, 2024 | 2:33 pm

AMD

AOTG

BIDU

NVDA

SOXQ

TCEHY

AMD is advancing in the AI chip market despite U.S. sanctions affecting its operations in China. It introduced the MI300 series, including the MI309 tailored for China, amidst competition with Nvidia. AMD's strategic moves include hiring Thomas Zacharia to boost global AI solution adoption and launching the Spartan UltraScale+ FPGA family for I/O-intensive applications. The U.S. restrictions have led AMD to design a lower-performance chip for China, aligning with export regulations. Investors can gain exposure to AMD through AOT Growth And Innovation ETF (AOTG) and Invesco PHLX Semiconductor ETF (SOXQ). AMD's stock rose 2.86% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 2:27 pm

CRKN

Crown Electrokinetics Corp. (NASDAQ:CRKN) has signed a $3.5M agreement with the Twin Dolphin Club in Los Cabos, Mexico, to construct slant wells for a desalination plant. The project, starting this spring and concluding in early fall, involves a $1.2M upfront payment and may lead to similar future projects. This marks Crown's expansion into new verticals beyond traditional fiber optics, potentially opening up new revenue opportunities in Mexico, Central America, and the Caribbean.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 2:27 pm

CSSE

Chicken Soup for the Soul Entertainment Inc (NASDAQ:CSSE) is exploring financial options to address its cash crisis, including issuing preferred equity, raising new debt, and selling assets. The company, which expanded from publishing to various entertainment sectors, faces financial instability with $4.1 million in cash and $360 million in debt from its merger with Redbox. Despite efforts to reduce costs and renegotiate contracts, its stock has lost over 95% of its value in the past year.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 2:21 pm

BLK

CABA

GNRC

MARA

POWL

PTLO

VICI

Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round'. He recommended holding onto Regions Financial Corporation (RF), praised BlackRock, Inc. (BLK) for its financial significance, and expressed caution about VICI Properties Inc. (VICI) due to its dicey nature despite good management. Cramer advised buying a bitcoin ETF over Marathon Digital Holdings, Inc. (MARA), supported Generac Holdings Inc. (GNRC) in a low-interest environment, and recognized Powell Industries, Inc. (POWL) as a solid company. He criticized Portillo's Inc. (PTLO) for being overvalued and lacking in earnings, while showing optimism for Cabaletta Bio, Inc. (CABA) due to its potential in T-cell immunity.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 2:20 pm

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