Streetbeat News

Assets

LYFT

Lyft, Inc. (NASDAQ:LYFT) announced a private offering of $400 million Convertible Senior Notes due 2029 to qualified institutional buyers. The offering includes an option for initial purchasers to buy an additional $60 million to cover over-allotments. The sale is expected to settle on February 27, 2024, with an anticipated net proceeds of approximately $389.6 million for Lyft, after deducting costs.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:44 am

SMCI

Super Micro Computer has announced the pricing of a $1.5 billion private offering of convertible senior notes due 2029, with an option for initial purchasers to buy an additional $225 million. The offering targets qualified institutional buyers under Rule 144A of the Securities Act of 1933.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:31 am

RUN

Sunrun Inc. (NASDAQ:RUN) has announced the pricing of $475 million in 4.00% convertible senior notes due 2030, with an option for initial purchasers to buy an additional $75 million. The notes will be sold at 99.75% of their principal amount, with the sale expected to close on February 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:30 am

COIN

HOOD

NVDA

ROKU

TDOC

Cathie Wood's Ark Invest sold nearly $4 million worth of Nvidia (NVDA) shares despite its post-earnings rally, reflecting a strategic portfolio adjustment. The firm also adjusted its stakes in Roku (ROKU), Coinbase (COIN), Robinhood (HOOD), and Teladoc (TDOC), indicating a broader reassessment of its investment strategy amid varying market conditions.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 5:28 am

BTCUSD

ETHUSD

MATICUSD

Reddit has disclosed investments in Bitcoin, Ethereum, and Polygon ahead of its $5B IPO filing. The social platform aims to use these cryptocurrencies for transactions and to enhance its product and engineering teams' understanding of digital assets. This move comes as Reddit prepares to list on the NYSE under the ticker RDDT.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 5:10 am

BTCUSD

Former President Donald Trump, known for his criticism of cryptocurrencies and central bank digital currencies (CBDCs), has shown a softened stance towards Bitcoin (BTC) in a recent Fox News appearance. While still expressing a preference for the dollar, Trump acknowledged Bitcoin's growing popularity and its increasing use in payments, suggesting a potential need for regulation. This marks a notable shift from his previous outright opposition to cryptocurrencies.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 4:50 am

Block Inc. (NASDAQ:SQ) reported a significant profit from its Bitcoin investments, largely driven by sales through its Cash App. In Q4 2023, Block's Bitcoin sales reached $2.52 billion, a 37% increase year-over-year, resulting in a gross profit of $66 million, up 90% from the previous year. The company's strategic Bitcoin purchases in late 2020 and early 2021 have led to a current estimated profit of $207 million. The Cash App generated $205 million in Bitcoin profits in 2023, with total Bitcoin revenue of $9.50 billion. Block's overall revenues for the fiscal year increased by 33.54%, reversing a previous downward trend. Following the earnings report, Block's stock price surged 20% to $52 per share, and after-hours trading saw a further 13% increase to $76.95.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 4:09 am

CAT

PEP

UTX

The article discusses the challenges of stock valuation, emphasizing the limitations of common methods like P/E, EV/EBITDA, and P/B ratios. It advocates for a more nuanced approach using Discounted Cash Flow (DCF) analysis to account for future cash flows, acknowledging the inherent uncertainty in any valuation method. The piece critiques simplistic valuation tools for their inability to capture the full complexity of a business's value, suggesting that a detailed DCF analysis offers a more comprehensive understanding of a stock's worth.

Portfolio Pulse from Minyanville

February 23, 2024 | 3:55 am

FBTC

IBIT

Major cryptocurrencies surged, pushing the global crypto market cap towards $2 trillion. Bitcoin's correlation with ETF inflows has decreased, according to JPMorgan. BlackRock's IBIT and Fidelity's FBTC dominate ETF inflows. The S&P 500, Nasdaq, and Dow Jones surged, influenced by Nvidia's performance and lower jobless claims. Analysts predict potential corrections for Bitcoin but remain optimistic about its long-term prospects, with predictions of reaching $300k this cycle.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 3:30 am

LOW

TSCO

The rise in multi-generational households due to economic pressures is impacting various sectors, including housing, banking, and retail. The trend, driven by financial necessity and demographic changes, is leading to increased demand for multi-generational homes and remodeling, affecting companies like Home Depot, Lowe's, Lumber Liquidators, and Tractor Supply Company. This shift also poses challenges for the banking sector, as it could lead to decreased demand for credit.

Portfolio Pulse from Marco Rabinowitz

February 23, 2024 | 3:26 am