Streetbeat News

Assets

XOM

Exxon Mobil Corporation (NYSE:XOM) is on track to complete the overhaul of its Beaumont, Texas refinery's hydrocracker by the end of March. Additionally, Exxon is nearing the sale of a majority stake in Italy's largest LNG terminal to VTTI, backed by Vitol. This move could enhance Exxon's position in the European LNG market.

Portfolio Pulse from Lekha Gupta

March 05, 2024 | 4:02 pm

Ethiopian Airlines has agreed to purchase up to 20 Boeing 777X jets, including a firm order for eight 777-9 passenger airplanes, marking the airline as the first 777X customer in Africa. This deal builds on Ethiopian Airlines' 2023 order for 11 787 Dreamliner and 20 737 MAX airplanes, aiming to modernize and expand its fleet. The 777-9, featuring advanced technologies for improved fuel efficiency and reduced carbon emissions, supports Ethiopian Airlines' growth and fleet renewal strategy. Boeing's partnership with Ethiopian Airlines extends to developing the country's aerospace industry and educational initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 4:00 pm

The analysis compares Visa (V) with its competitors in the Financial Services industry, highlighting its financial metrics, market positioning, and growth potential. Visa, the largest payment processor globally, shows potential undervaluation based on its PE ratio, strong market sentiment from its PB and PS ratios, and high profitability and operational efficiency through its ROE, EBITDA, and gross profit. However, its lower revenue growth compared to the industry average may concern future performance.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 4:00 pm

ARR

ARMOUR Residential REIT (NYSE:ARR) has seen a 24.49% increase in short interest since its last report, with 4.28 million shares sold short, representing 9.81% of its float. This indicates a bearish market sentiment towards ARR, as short selling suggests investors anticipate a price decline. However, an increase in short interest can sometimes be bullish, as covering short positions can drive the stock price up. ARR's short interest is higher than its peer group average of 6.24%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 4:00 pm

QQQ

SPY

TLT

Economic data revealed a mixed U.S. economic outlook with the service sector expanding for the 14th consecutive month, despite a slight decrease in the ISM Services PMI to 52.6%. Conversely, factory orders in January 2024 saw a significant drop of 3.6%, the largest since April 2020. The decrease in U.S. Treasury yields and a rise in rate cut expectations influenced market reactions, with bonds and gold outperforming stocks. The iShares 20+ Year Treasury Bond ETF (TLT) rallied 1.4%, while the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) fell 0.9% and 1.9% respectively.

Portfolio Pulse from Piero Cingari

March 05, 2024 | 3:53 pm

FIX

Comfort Systems USA (NYSE:FIX) has seen a 15.37% increase in short interest since its last report, with 1.15 million shares sold short, representing 4.58% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 3.99%. The article suggests that an increase in short interest doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 3:45 pm

ASML

INTC

NVDA

SMCI

TSM

A Reddit post on r/wallstreetbets sparked a discussion favoring Taiwan Semiconductor Manufacturing Company (TSMC) over other semiconductor companies like Nvidia, Super Micro Computer, ASML, and Intel. Redditors highlighted TSMC's strategic importance, global expansion, and high yields as key investment catalysts. The discussion also touched on geopolitical tensions, TSMC's role in Taiwan's defense, and its significance in AI, with some users citing Cathie Wood's investment in TSMC.

Portfolio Pulse from Surbhi Jain

March 05, 2024 | 3:30 pm

BTCUSD

ETHUSD

Bitcoin (BTC) approached new all-time highs around $69,000, with experts predicting a bullish future due to factors like institutional demand and Bitcoin ETFs. Analysts see a potential for prices to reach $100,000-$200,000. The introduction of Bitcoin ETFs and the broader implications of Bitcoin's rise for decentralized finance were also highlighted. Despite optimism, some caution against potential market overheating.

Portfolio Pulse from Murtuza Merchant

March 05, 2024 | 3:27 pm

AMD

AOTG

NVDA

SOXQ

AMD stock is trading lower due to difficulties in selling its AI chip in China, following U.S. export restrictions. The U.S. deemed AMD's compliant chip too advanced, requiring a special license for distribution. This comes amid broader U.S. efforts to limit China's access to advanced semiconductors, with China moving towards the RISC-V architecture to reduce reliance on Western technologies like AMD's x86. AMD is recognized as a key player in AI technology, second to Nvidia. Investors can gain exposure to AMD through AOT Growth And Innovation ETF (AOTG) and Invesco PHLX Semiconductor ETF (SOXQ).

Portfolio Pulse from Anusuya Lahiri

March 05, 2024 | 3:11 pm

ALB

Albemarle Corp (NYSE:ALB) shares fell after announcing a proposed public offering of $1.75 billion in depositary shares, with an option for underwriters to purchase an additional $262.5 million. The proceeds are intended for general corporate purposes, including funding growth capital expenditures and repaying outstanding commercial paper. This follows the company's fourth-quarter financial results, reporting $1.9 billion in liquidity.

Portfolio Pulse from Adam Eckert

March 05, 2024 | 3:05 pm