Streetbeat News

Assets

GPN

Global Payments Inc (NYSE:GPN) shares dropped 1.7% to $131.96 after announcing a plan to offer $1.75 billion in convertible senior notes due 2031, with an additional option for $250 million. The notes, accruing semi-annual interest and maturing in 2031, will be convertible under certain conditions. The company aims to use the proceeds for capped call transactions to minimize stock dilution, stock repurchases, and general corporate purposes. Market reactions and analyst views suggest a generally positive outlook for GPN, with a notable rise in stock price over the past three months and a positive revenue trend.

Portfolio Pulse from Henry Khederian

February 20, 2024 | 2:34 pm

CMG

HLT

QSR

SPY

Bill Ackman, founder of Pershing Square Capital Management, earned $610 million in 2023, ranking him No. 7 among hedge fund founders. Pershing Square achieved a 26.7% gain with a focused portfolio of eight stocks, slightly outperforming the S&P 500 but trailing the Nasdaq 100. Top holdings include Chipotle (CMG), Restaurant Brands (QSR), and Hilton (HLT), contributing significantly to the portfolio's performance. Other notable hedge fund earners were Millennium's Izzy Englander and Citadel's Ken Griffin.

Portfolio Pulse from Piero Cingari

February 20, 2024 | 2:32 pm

MRNA

Moderna's (NYSE:MRNA) short interest has decreased by 9.44% since the last report, with 20.88 million shares sold short, representing 7.29% of its float. This indicates a potential shift in market sentiment towards a more bullish outlook, as the short interest is higher than its peer group average of 4.41%. The decrease in short interest suggests fewer traders are betting against the stock, which could influence its short-term price movement.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 2:30 pm

CRWD

CrowdStrike Holdings (NYSE:CRWD) has seen a 16.01% decrease in short interest, now at 6.16 million shares or 2.78% of float, taking 1.9 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards CRWD compared to its peers, where the average short interest as a percentage of float is 4.10%.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 2:30 pm

GFS

GlobalFoundries shares are trading higher following the announcement that the U.S. has awarded the company $1.5 billion in direct funding as part of the U.S. CHIPS and Science Act.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 2:12 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) is set to invest $2.1 billion in Spain to expand its artificial intelligence (AI) and cloud infrastructure over the next two years. This move follows a $3.45 billion investment in Germany, emphasizing Microsoft's commitment to AI and digital transformation globally. The investment aims to support Spain's security, government, businesses, and citizens' digital transformation, reflecting Microsoft's long-term commitment to the country.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 2:02 pm

SMMT

Summit Therapeutics announced that it now has enough cash to operate into the first quarter of 2025, indicating a stronger financial position.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:51 pm

CNP

CenterPoint Energy, Inc. (CNP) reported Q4 adjusted earnings per share of 32 cents, aligning with expectations and marking a 14% year-over-year increase. This growth was driven by regulatory recovery and a one-time tax benefit. Additionally, CNP announced the sale of its Louisiana and Mississippi natural gas operations to Bernhard Capital Partners for $1.2 billion, representing less than 4% of its rate base. The sale will fund a $1 billion boost to its capital plan, now totaling $44.5 billion through 2030. CNP reaffirmed its 2024 EPS guidance, indicating an 8% growth.

Portfolio Pulse from Nabaparna Bhattacharya

February 20, 2024 | 1:49 pm

MWG

Multi Ways Holdings Limited (NYSE:MWG), a leading supplier of heavy construction equipment in Singapore, announced its fleet expansion and renewal strategy, including a significant purchase agreement with SANY International Development Limited. This strategy aims to enhance its market position, service reliability, and cater to a wider customer base by integrating new and used equipment. The company's approach is driven by customer feedback and market analysis, focusing on reducing operational costs and adapting to changing needs. The construction demand forecast for 2024 in Singapore supports the timing of these investments.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 1:38 pm

DFS

MEDS

SPRC

TRxADE HEALTH announced the sale of assets of its subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5M, potentially rising to $30M. SciSparc and Clearmind are enhancing their international patent portfolio with new psychedelic-based compounds. Capital One Financial is set to acquire Discover, affecting pre-market movements.

Portfolio Pulse from ryanfaloona@benzinga.com

February 20, 2024 | 1:36 pm