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Acquisitions Mergers

NVDA

PANW

Nancy Pelosi and her husband recently purchased call options in Palo Alto Networks Inc (PANW) around the time of its Q2 financial results, following a profitable trade in NVIDIA Corporation (NVDA). The transactions were made before and after PANW's earnings report, which saw the stock price fluctuate significantly. The timing of these trades, especially with potential government contracts for PANW on the horizon, could attract scrutiny. PANW's stock has seen a significant increase over the past year.

Portfolio Pulse from Chris Katje

February 26, 2024 | 6:48 pm

GM

General Motors (NYSE:GM) has launched its electric Cadillac Lyriq in France, marking a significant step in its re-entry into the European market. Unlike in the U.S., GM is adopting an online sales model for European customers. The move comes as part of GM's broader strategy to tap into the growing European electric vehicle market, following its initial EV sales in Switzerland. The company plans to expand its electric vehicle offerings in Europe, with Germany expected to see the Lyriq by year-end. GM shares rose 0.62% to $39.88.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 6:46 pm

BYDDY

F

GM

TSLA

BYD Company Limited is targeting the luxury EV market with its new super EV, the U9, from its luxury brand Yangwang, challenging established brands like Ferrari with its high speed and acceleration. BYD's expansion into Europe includes building its first factory in Hungary, a move supported by Beijing's subsidies. Meanwhile, Tesla Inc faces increased competition from BYD, especially as BYD does not sell its EVs in the U.S. due to tariffs but is expanding globally. General Motors is also re-entering the European market with luxury EVs, starting with the Cadillac Lyriq in France.

Portfolio Pulse from Upwallstreet

February 26, 2024 | 6:44 pm

AYRWF

CURLF

GLASF

JUSHF

TCNNF

The article discusses the expectations for EBITDA growth among the largest MSOs in the cannabis industry for Q3:23, Q4:23, and the full year 2024. It highlights that sequential quarter growth was negative for ten out of twelve companies, with an overall projected EBITDA decrease of 5.9% from Q3 to Q4:23. However, year-over-year growth is expected to be stronger among smaller companies. The departure of major companies from several markets is noted, with a focus on concentrating on more profitable markets as a key driver for potential better-than-expected performance in 2024. The expected growth in 2024 EBITDA is 13.4%, driven by modest revenue growth and an increase in EBITDA margins. The article suggests that analysts might be underestimating the potential for 2024 due to continuous downward revisions in 2023.

Portfolio Pulse from Viridian Capital Advisors

February 26, 2024 | 6:41 pm

ALK

BA

RYAAY

Ryanair Holdings Plc is facing potential disruptions to its summer schedule due to Boeing Co's delivery delays of the 737 Max 10 models, with an expected reduction from 57 to around 50 aircraft by the end of June. This situation may lead to minor schedule cuts and a decrease in passenger forecast from 205 million to 200 million for the financial year starting in April. CEO Michael O'Leary expressed frustration and is discussing compensation with Boeing, also hinting at possible ticket price increases.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 6:20 pm

MRK

NGM

NGM Biopharmaceuticals Inc (NASDAQ:NGM) is trading lower after The Column Group, its largest stockholder, agreed to acquire it for $1.55/share, an 80% premium over its last closing price before the acquisition announcement. This acquisition values NGM Bio at $135 million. NGM Bio's stock volume surged to 1.9 million, surpassing its average of 1.02 million. Despite recent challenges, including a significant workforce reduction and a failed Phase 2 trial, NGM Bio had previously reported encouraging data from a study in collaboration with Merck & Co Inc (NYSE:MRK).

Portfolio Pulse from Vandana Singh

February 26, 2024 | 6:15 pm

PODC

PodcastOne Inc (NASDAQ:PODC) saw its shares rise after Roth Capital Partners initiated coverage with a Buy rating and a $4.50 price target. The company is highlighted for its unique position as the only pure-play podcast stock in the U.S., expected to see 23%-25% annual revenue growth over the next several years. Adjusted EBITDA is projected to be positive by fiscal 2024, reaching approximately $6 million by 2027. Growth is anticipated from new podcast launches, increased ad revenue, and acquisitions.

Portfolio Pulse from Priya Nigam

February 26, 2024 | 6:03 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has purchased an additional 3,000 Bitcoin, increasing its holdings to 193,000 coins at an average price of $31,544 each. This acquisition, costing $155 million at an average price of $51,813 per Bitcoin, comes amid a surge in crypto investment product inflows, with Bitcoin-based products leading. The broader market saw almost $600 million in inflows, with Bitcoin accounting for over 85% of this. Other cryptocurrencies like Ethereum, Chainlink, and XRP also saw investments, while Solana experienced outflows. MicroStrategy's stock rose 13.98% to $784.

Portfolio Pulse from Murtuza Merchant

February 26, 2024 | 5:48 pm

MOD

Modine Manufacturing's shares are trading higher following the announcement of a definitive agreement to acquire Scott Springfield Manufacturing. This strategic acquisition is expected to enhance Modine's product offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:44 pm

AA

Alcoa Corp's shares are trading lower following the announcement of its agreement to acquire Alumina Limited. This strategic move could potentially expand Alcoa's operations and market share but has initially led to a negative reaction in the stock market.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:43 pm