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BABA

NVDA

RIVN

TSLA

Cryptocurrencies trade mixed as Dogecoin mirrors 2023 bull market patterns, and Bitcoin's potential post-halving correction could target $40K. Rivian rebounds in premarket trading. Analysts predict a pause in US stock rally and discuss potential impacts of a second Trump presidency. International tensions rise with US-China relations and covert operations in Ukraine. Tech sector sees Nvidia's upside potential and Alibaba's optimism, while electric vehicle companies like Tesla and Rivian make headlines. Broadcom nears a strategic sale, and financial deals include Ant Group's acquisition of Credit Suisse's China unit.

Portfolio Pulse from Akanksha Bakshi

February 26, 2024 | 1:46 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) inaugurated its first chip plant in Japan, a move aimed at diversifying supply chains amid U.S.-China trade tensions. This expansion is part of TSMC's global strategy, including a $40 billion investment in Arizona. The company, a key supplier to Nvidia and Apple, is responding to geopolitical pressures for local operations. Additionally, Cathie Wood's Ark ETF sold TSMC and Nvidia shares, reallocating investments towards emerging software companies. TSMC's stock has gained 28% YTD, while Nvidia's stock is up 64%.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 1:44 pm

MSTR

MicroStrategy and its subsidiaries acquired approximately 3,000 Bitcoins for about $155.4M, at an average price of $51,813 each, between February 15 and February 25, 2024. As of February 25, 2024, the company holds an aggregate of ~193,000 Bitcoins, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:22 pm

AHT

Ashford Hospitality Trust, Inc. (AHT) is advancing its plan to pay off its strategic financing by January 2026 through asset sales, mortgage debt refinancings, and capital offerings. The company has agreements for the sale of six assets totaling over $220 million and is in various stages of marketing additional assets. This is part of AHT's broader strategy to manage its financing obligations.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 1:17 pm

CCO

Clear Channel Outdoor (CCO) announced its intention to offer $865M in senior secured notes due 2030 through a private offering. This move is aimed at raising capital, possibly for debt refinancing, expansion, or other corporate purposes. The success of this offering could impact CCO's financial flexibility and debt profile.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:24 pm

PPG

PPG is exploring strategic alternatives for its Architectural Coatings business in the U.S. and Canada, which accounted for about 10% of its total net sales in 2023.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 12:06 pm

AVGO

KKR

Broadcom Inc (NASDAQ:AVGO) is reportedly nearing a deal to sell a software division acquired through its VMware takeover to KKR & Co (NYSE:KKR) for about $4 billion. The sale, expected to be announced on Monday, is part of Broadcom's strategic shift towards cloud services. The division specializes in software for remote desktop and application access. Broadcom is also looking to sell another VMware asset, Carbon Black, for around $1 billion. This move follows Broadcom's acquisition of VMware in November after an 18-month regulatory review.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 12:01 pm

LCID

Lucid Group, Inc. (NASDAQ: LCID) announced the European debut of three electric vehicles (EVs) at the Geneva International Motor Show, including the SUV Gravity, the Air Sapphire, and a Rear-Wheel-Drive version of the Air Pure. The company also revealed expanded service offerings and an updated portfolio for its Air lineup, marking a significant step in its European market expansion.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:54 am

FRPT

Freshpet projects its 2024 net sales to reach at least $950 million, surpassing the consensus estimate of $945.74 million. The company also forecasts an adjusted EBITDA between $100 million and $110 million, with capital expenditures around $210 million. This guidance indicates a minimum 24% increase in net sales from 2023.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:35 am

IREN

Iris Energy announced an update on its expansion, aiming to increase its operating hashrate to 20 EH/s by H2 2024. Currently, the hashrate has reached 7 EH/s, with an additional 3 EH/s expected by H1 2024. The expansion includes securing 10 EH/s of new Bitmain T21 miners through fixed price contracts and a 200MW expansion at the Childress data center.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 11:14 am