Streetbeat News

Acquisitions Mergers

GOOG

GOOGL

MSFT

Alphabet Inc.'s Google quadrupled a salary offer to retain an employee targeted by Perplexity AI, highlighting the intense competition and talent wars in the AI sector. Despite recent layoffs, Google's move indicates the high value it places on key personnel. This comes as Google faces increasing competition from AI startups like OpenAI, backed by Microsoft, and others aiming to challenge Google Search's dominance.

Portfolio Pulse from Rounak Jain

February 16, 2024 | 11:22 am

BGNE

PRDSY

XPEV

The Hang Seng Index is set to expand by potentially including Prada (OTC:PRDSY), XPeng (NYSE:XPEV), and BeiGene (NASDAQ:BGNE) in its upcoming quarterly review. This move aims to boost the global market presence and appeal of Hong Kong's stock market, which has faced challenges including a more than 6% drop this year. The inclusion of foreign and electric vehicle companies could enhance the market's diversity and attractiveness to global companies.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 11:19 am

MSTR

MicroStrategy Inc (NASDAQ:MSTR), the largest corporate holder of Bitcoin, is on the path to potentially join the S&P 500 index. If included, this could significantly expose Bitcoin to a wide range of investment portfolios, including traditional 401k and pension funds. The company's market cap and profitability are approaching the eligibility criteria for the S&P 500, but inclusion is not guaranteed and depends on the U.S. Index Committee's approval. MicroStrategy's investment in Bitcoin has been profitable, with the company holding around 190,000 BTC.

Portfolio Pulse from Mehab Qureshi

February 16, 2024 | 11:00 am

XOM

The New York State Common Retirement Fund is restricting investments in eight oil and gas companies, including Exxon Mobil Corp (NYSE:XOM), due to climate change concerns. The fund plans to divest its corporate bonds and actively manage public equity holdings in these companies, deemed not transition-ready for a sustainable future. The total value of these holdings is approximately $26.8 million, with around $25 million in Exxon shares to be divested, while maintaining about $500 million in other Exxon holdings in passive index funds.

Portfolio Pulse from Lekha Gupta

February 16, 2024 | 10:54 am

Carlyle Group has entered into an agreement to sell Assala Energy to Gabon's national oil company, according to Reuters.

Portfolio Pulse from Charles Gross

February 16, 2024 | 10:22 am

AMZN

GOOGL

MSFT

NVDA

Stanley Druckenmiller's Duquesne Family Office has sold its stakes in Alphabet Inc (GOOGL, GOOG) and Amazon.com Inc (AMZN), while increasing investments in Microsoft Corp (MSFT) and NVIDIA Corp (NVDA), focusing on AI technology. The firm increased its Microsoft stake by 6.7% and reduced Nvidia exposure by 29%, but acquired Nvidia call options worth over $242 million. Druckenmiller's bullish stance on AI has been consistent, with significant investments in Microsoft and Nvidia due to their AI initiatives. Nvidia's stock has surged nearly 90% in eight months, and Microsoft's recent earnings exceeded expectations, partly due to its AI integration.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 9:41 am

Senior Vice President of Autonomous Vehicle Platforms at General Motors Co's (NYSE:GM) autonomous driving unit Cruise has resigned, marking another executive departure since the company suspended operations in the US last year following a pedestrian accident. GM reported a $3.48 billion operating loss at Cruise in 2023, up from $3.24 billion in 2022. Despite these challenges, GM CEO Mary Barra reaffirmed the company's commitment to Cruise, indicating a reduction in spending but continued investment in self-driving technology.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 7:45 am

BLK

CBOE

Cboe Global Markets has listed iShares by BlackRock ETFs on its global exchange network, marking a significant milestone in its mission to expand the investable universe for investors. BlackRock is the first asset manager to list ETFs across Cboe's entire global network of listings exchanges. The newly listed ETFs, part of iShares by BlackRock's Factor ETF suite, are available for trading on Cboe Australia.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 7:27 am

DWAC

Digital World Acquisition Corp. (DWAC) received SEC approval for its merger with Trump Media & Technology Group, potentially benefiting Donald Trump with over $3.94 billion in shares. The merger, subject to a six-month lock-up, could significantly impact Trump's financial situation amidst legal challenges. DWAC's stock surged 16.10% following the announcement.

Portfolio Pulse from Shanthi Rexaline

February 16, 2024 | 7:05 am

COIN

GOOGL

NVDA

TXG

Cathie Wood's Ark Invest sold shares of Coinbase (COIN), Nvidia (NVDA), and Alphabet (GOOGL), while buying shares of Unity Software (U) and 10X Genomics (TXG). The sales occurred despite Coinbase's surprise profit and amidst a Bitcoin rally. Nvidia and Alphabet shares were sold amid AI sector adjustments, with concerns over Nvidia's valuation and Alphabet facing new competition from OpenAI. Ark also increased investments in U and TXG, indicating a bullish outlook on gaming, software, and genomics sectors.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 5:07 am