Streetbeat News

Acquisitions Mergers

Goldman Sachs Group Inc (NYSE:GS) has entered into a $1 billion private credit deal with Abu Dhabi's Mubadala Investment Co. to expand its private credit business in the Asia-Pacific region, focusing on India. This move is part of Goldman's strategy to grow its presence in the alternative investment space and capitalize on the surging interest in the Asia-Pacific market. The deal follows a trend of increasing private credit collaborations in the Middle East, with Barclays and Mubadala engaging in similar partnerships.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 6:35 am

TSLA

Tesla Inc. is set to begin construction of its Gigafactory in Mexico next week, with the groundbreaking ceremony scheduled for March 3. The factory, located in Santa Catarina, Nuevo León, will produce Tesla's next-generation, lower-cost electric vehicles, including the Model Y, batteries, and the Cybertruck, with production expected to start by the second half of 2025. This move is part of Tesla's expansion strategy and comes amid reports of Chinese EV maker BYD Co also considering a production facility in Mexico.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 4:36 am

BHP

GDX

LIT

NCMGY

RTNTF

VALE

Elliott Management is launching Hyperion, a new venture aimed at acquiring global mining assets worth at least $1 billion, under the leadership of Sandeep Biswas, former CEO of Newcrest Mining (OTC:NCMGY). The venture will focus on assets critical for electric vehicle production and renewable energy, leveraging low valuations in the sector. This marks a significant shift for Elliott, indicating a long-term commitment to the mining industry. Notable companies and ETFs in the sector include BHP Group Ltd. (NYSE:BHP), Rio Tinto Group (OTC:RTNTF), Vale S.A. (NYSE:VALE), VanEck Vectors Gold Miners ETF (NYSE:GDX), and Global X Lithium & Battery Tech ETF (NYSE:LIT).

Portfolio Pulse from Bibhu Pattnaik

February 25, 2024 | 7:09 pm

MTRS

METROS DEVELOPMENT CO., LTD. (NASDAQ:MTRS) is set to go public on Feb. 27, 2024, with an IPO price range of $8.00 to $9.00, offering 1,000,000 shares at $8.50 each. The company will have a 180-day lockup period post-IPO. The article also explains the IPO process, including SEC requirements, working with investment banks, establishing a price range, and the insider lock-up period.

Portfolio Pulse from Benzinga Insights

February 25, 2024 | 5:06 pm

ALCPF

This week's top economic news includes concerns among Japanese businesses about a potential Trump return, IRS targeting wealthy Americans for tax evasion, Taiwanese chip firms expanding in Japan due to US-China decoupling, Saudi Arabia's financial strains from development projects, and Indonesia's 'Swiftonomics' tourism strategy. Notably, Alchip Techs (OTC:ALCPF) is moving R&D from China to Japan amid semiconductor industry shifts.

Portfolio Pulse from Benzinga Neuro

February 25, 2024 | 12:03 pm

META

NVDA

This week in tech, Mark Zuckerberg of Meta Platforms Inc. (META) discussed Sam Altman's AI chipmaking plan, while Nvidia Corp (NVDA) achieved record highs and surpassed Q4 earnings expectations. Jim Cramer praised Nvidia's performance, and Elon Musk criticized Google's AI. Nvidia's success is highlighted as a significant moment for the tech market.

Portfolio Pulse from Benzinga Neuro

February 25, 2024 | 5:27 am

AVGO

KKR

Broadcom is close to finalizing the sale of its remote access unit to KKR for $3.8 billion, according to a report by Reuters. This move is part of Broadcom's strategy to streamline its operations and focus on its core semiconductor business.

Portfolio Pulse from Charles Gross

February 24, 2024 | 11:21 pm

BRK

Warren Buffett, CEO of Berkshire Hathaway Inc. (NYSE:BRK), paid tribute to the late Charlie Munger in his annual letter, calling him the 'architect' behind the conglomerate's success. Munger, who passed away on Nov. 28, was pivotal in shaping Berkshire's strategy, advising Buffett to focus on acquiring businesses at fair prices. Berkshire Hathaway's Q4 operating earnings rose 28% year-over-year, with full-year earnings up 21.06%. Buffett also cautioned investors against following Wall Street advice.

Portfolio Pulse from Nabaparna Bhattacharya

February 24, 2024 | 6:27 pm

ACB

CRLBF

CURLF

GTBIF

TCNNF

TLRY

Germany's legalization of limited cannabis possession and consumption has positively impacted U.S. cannabis stocks, with Curaleaf Holdings seeing a 3.1% rise. The move is seen as a step towards broader European legalization, benefiting companies with a presence in Germany like Curaleaf. Other U.S. cannabis stocks also saw gains, while Canadian companies Tilray and Aurora Cannabis had mixed results. The industry views this as a significant opportunity for growth, especially in medical cannabis.

Portfolio Pulse from Maureen Meehan

February 24, 2024 | 5:26 pm

ALTI

AMZN

BKNG

NVDA

Barron's weekend stock picks highlight Nvidia's AI market leadership, AlTi Global's share drop post-M&A announcement, Booking Holdings' strong earnings but stock drop, Rivian's double downgrade due to EV demand concerns, and Amazon's Dow 30 inclusion potentially leading to underperformance. Nvidia, AlTi Global, Booking Holdings, and Amazon are directly mentioned.

Portfolio Pulse from Justin Chan

February 24, 2024 | 5:11 pm