Streetbeat News

Acquisitions Mergers

NFLX

Malaysia's Ministry of Transport is considering resuming the search for the missing Malaysia Airlines Flight 370 (MH370) with Ocean Infinity, a Texas-based company, proposing a 'no find, no fee' search. The Boeing 777 disappeared in 2014 with 239 people on board, and despite previous searches, remains unfound. The potential new search comes as interest in the MH370 mystery was reignited by a Netflix docuseries.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 1:00 am

IGT

IPG

RELY

ZBH

Barron's cover story highlights the best luxury second home resort markets in the US, with Austin, Texas, Lake Geneva, Wisconsin, and Park City, Utah topping the list. Luxury second home prices rose 11% in 2015. The article also discusses investment opportunities in hedge funds through closed-end funds run by Bill Ackman and Dan Loeb, and mentions stocks like Interpublic Group (IPG), Zimmer Biomet Holdings (ZBH), Real Industry (RELY), and International Game Technology (IGT) for their potential.

Portfolio Pulse from Nelson Hem

March 03, 2024 | 9:37 pm

AAPL

Apple, Inc. (AAPL) abandoned its self-driving car project due to the ambitious goal of surpassing Tesla with a fully autonomous vehicle, a challenge even Apple found too difficult. Bloomberg's Mark Gurman highlighted the project's downfall was Apple's attempt to create a car that required zero driver intervention, a goal the auto industry still struggles with. The project's cessation came after significant investment into a Level 5 self-driving system and design work for a car without traditional controls. Gurman also noted the auto industry's thin profit margins and high production challenges as additional hurdles for Apple.

Portfolio Pulse from Shanthi Rexaline

March 03, 2024 | 9:36 pm

AAPL

GOOG

IBIT

RIVN

Cryptocurrencies experienced significant gains, with Bitcoin leading the surge. The total market capitalization of cryptocurrencies increased by over 17% to $2.33 trillion. Bitcoin's weekly gain was 19.5%, and Ethereum rose by 12.4%. Memecoins, particularly Dogwifhat, saw a 400% weekly surge. BlackRock's iShares Bitcoin ETF (IBIT) recorded high trading volumes, increasing its bitcoin holdings to over $7 billion. In traditional finance, the Nasdaq 100 gained 2.04%, while Apple Inc (AAPL) dropped after being removed from Goldman Sachs' Conviction List. Rivian Automotive Inc (RIVN) and Alphabet Inc. (GOOG) received optimistic outlooks from notable investors.

Portfolio Pulse from Ivan Crnogatić

March 03, 2024 | 5:33 pm

AMDI

RYDE

Amphitrite Digital Inc (NASDAQ:AMDI) and Ryde Group Ltd (NYSE:RYDE) are set to go public the week of March 4, 2024, with their IPOs. AMDI's shares are priced between $3.50 and $4.50, offering 1,750,000 shares at $4.00 each. RYDE's shares are priced between $4.00 and $5.00, offering 3,000,000 shares at $4.50 each. Both companies have a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

March 03, 2024 | 5:13 pm

AAPL

BABA

This week in the Appleverse, significant events included a preference for older iPhone models among Android switchers, a revelation about Steve Jobs' initial flip phone design for the iPhone, massive discounts on the iPhone 15 in China, and suggestions for Apple's growth through acquisitions. Apple Inc. (AAPL) and Alibaba Group Holding Ltd. (BABA) were directly mentioned, with AAPL making headlines for various reasons and BABA's Tmall offering discounts on the iPhone 15.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 10:13 am

AAPL

GOOG

MSFT

This week in AI, Google faced criticism over its Gemini AI's inaccuracies, Apple shifted focus from its EV project to generative AI, and Elon Musk sued OpenAI and Microsoft. Google's CEO addressed the Gemini AI issues, Apple informed employees about the EV project's halt, and Musk's legal actions highlight concerns over AI's direction and Microsoft's practices. Additionally, c3.ai, Inc. reported strong Q4 results, indicating a growing AI revolution.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 4:50 am

BLK

JPM

Presidential candidate Robert Kennedy Jr. criticized big banks like BlackRock and JP Morgan for influencing Congress against Bitcoin, emphasizing the need for transactional freedom and protection against inflation for the middle class. He highlighted the importance of Bitcoin in ensuring such freedoms, contrasting with government-controlled digital currencies. Donald Trump also expressed a cautious acceptance of Bitcoin and opposed central bank digital currencies, citing control over money as a threat to freedom.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 8:29 pm

CVX

Chevron Corporation (NYSE:CVX) has paused biodiesel production at two facilities in the U.S. Midwest due to unfavorable market conditions, despite acquiring Renewable Energy Group in 2022 for $3.15 billion to boost renewable fuel output. Biodiesel prices have fallen, and renewable credits' value has decreased. Concurrently, Chevron unveiled a green hydrogen initiative in California's Central Valley, aiming to produce low carbon energy using solar power and non-potable water.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 7:06 pm

AVGO

DELL