Streetbeat News

Acquisitions Mergers

CEG

Constellation has filed for a license renewal with the NRC for its Clinton Clean Energy Center in Illinois, aiming to extend its operation by 20 years, through 2047. This move is part of Constellation's efforts to support carbon-free energy production and the regional economy. The Clinton facility, which powers 800,000 homes, is a key part of Illinois' clean energy future, with the renewal potentially providing 179 terawatt hours of additional carbon-free electricity. The company has also made other investments in clean energy, including acquiring a stake in the South Texas Project and uprate projects in Illinois and Maryland.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:01 pm

SPWR

SunPower Corp (NASDAQ:SPWR) reported a Q4 FY23 revenue decline of 28.3% YoY to $356.91 million, missing consensus estimates. The adjusted EPS loss widened to 51 cents, also missing expectations. Despite these results, SPWR's stock price increased after announcing a funding update, including $175 million in new capital financing from TotalEnergies and Global Infrastructure Partners. The company added 16,000 customers but saw declines in adjusted gross margin and EBITDA. SunPower expects a net loss for FY24 but aims to be free cash flow positive in the second half of 2024.

Portfolio Pulse from Anusuya Lahiri

February 15, 2024 | 6:01 pm

PLCE

Children's Place, Inc. (NASDAQ:PLCE) shares surged after Mithaq Capital disclosed ownership of approximately 54% of the company's shares, intending to nominate 11 board members at the 2024 annual meeting. The company is in talks with Mithaq regarding financing for liquidity needs but faces a potential default under its credit agreement due to this change of control. The stock's significant rise is also attributed to a high short interest combined with heavy trading volume.

Portfolio Pulse from Erica Kollmann

February 15, 2024 | 5:35 pm

AMZN

AVGO

GOOG

GOOGL

META

MSFT

Meta Platforms Inc (NASDAQ:META) is expanding its board with Broadcom Inc's (NASDAQ:AVGO) CEO, Hock E. Tan, and philanthropist John Arnold, following Sheryl Sandberg's departure. This move aligns with Meta's focus on artificial general intelligence (AGI) and efficiency. The tech sector, including Amazon (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corp (NASDAQ:MSFT), and Meta, is shifting towards cost control and efficiency, with Meta's stock rising 2.77% recently.

Portfolio Pulse from Anusuya Lahiri

February 15, 2024 | 5:26 pm

AMD

AVGO

MSFT

NVDA

TSMWF

The AI 5, coined by Light Street Capital's Glen Kacher, highlights Nvidia, Microsoft, AMD, TSMC, and Broadcom as leading stocks in the AI-driven market. Nvidia excels in GPUs for AI, Microsoft invests heavily in AI with OpenAI, AMD introduces the MI300X chip for AI computations, TSMC leads in semiconductor manufacturing with advanced technologies, and Broadcom's semiconductor solutions support AI applications. Warren Buffett has invested in Apple and Amazon, part of The Magnificent Seven, but not directly in AI 5 stocks.

Portfolio Pulse from Stjepan Kalinic

February 15, 2024 | 5:19 pm

FXI

SPY

U.S. Senator Marco Rubio has called on the SEC to prevent the IPO of Chinese fashion retailer Shein unless the company discloses its operational risks in China. This move highlights growing concerns over Chinese companies listed in the U.S. without full transparency.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:02 pm

Mizuho upgraded Eversource Energy (NYSE:ES) to Buy with a new price target of $62.00, up from $54.00. Eversource Energy's shares are currently up 1.82% at $58.10. The company, a diversified holding entity, provides electric, gas, and water distribution in the Northeast U.S. and is exiting a partnership with Orsted for offshore wind projects.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 5:00 pm

BZFD

BuzzFeed shares are trading higher after a Financial Times report indicated that The Independent is in discussions to take control of BuzzFeed and Huffington Post operations in the UK and Ireland.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 4:33 pm

BZFD

The Independent is in talks to take control of BuzzFeed and HuffPost's operations in the UK and Ireland, aiming to expand in a challenging advertising climate. The deal includes editorial and commercial control, staff transfers, and a strategic partnership for content and tech support. This move comes as digital advertising faces hurdles due to Google's decision to end third-party tracking cookies, impacting revenue generation. The partnership aims to leverage combined audiences for better commercial offerings and reflects the industry's shift towards first-party data for advertising.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 4:31 pm

LGBI

The legal saga involving Cannabiz Mobile (OTC:LGBI) and its former consultant Anthony Jay Pignatello has concluded with a final judgment. Pignatello was involved in a securities fraud scheme, including a pump-and-dump operation with Christopher Esposito, leading to misleading investors. The judgment prohibits Pignatello from holding certain positions and requires him to pay $43,337, which is considered settled by a parallel criminal case's forfeiture order.

Portfolio Pulse from Jelena Martinovic

February 15, 2024 | 4:26 pm