Streetbeat News

Assets

MLM

Martin Marietta Materials (MLM) has agreed to purchase 20 active aggregates operations located in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries for $2.05 billion in cash. This acquisition, along with the recent purchase of Albert Frei & Sons, Inc. in Colorado, adds about 1 billion tons of high-quality reserves to MLM's portfolio and is expected to generate over $180 million in annualized EBITDA.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:58 am

LAZ

Lazard, Inc. (NYSE:LAZ) reported a decrease in its assets under management (AUM) to $243.8 billion in January 2024 from $246.7 billion in December 2023. The change reflects foreign exchange depreciation of $2.3 billion, net outflows of $2.1 billion, and market appreciation of $1.6 billion.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:48 am

SGML

Sigma Lithium has received a letter of intention for a project finance credit line from the Development Bank of Brazil to be used for the expansion of its Quintuple Zero Green Lithium Grota do Cirilo project.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:14 am

DOGEUSD

A cryptocurrency analyst, Crypto Tony, predicts Dogecoin (DOGE) will initiate a 'Memeseason' by rising to $0.10, potentially setting off a trend for meme cryptocurrencies. The prediction is supported by an uptick in large-scale Dogecoin transactions and a significant transfer to Robinhood. Another analyst, MindCluster, notes Dogecoin's low DOGE/BTC ratio, while World of Charts suggests a potential 45-50% bullish rally.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 11:06 am

DOGEUSD

LINKUSD

Chainlink (LINK) has surpassed Dogecoin (DOGE) in market capitalization after a whale acquired 4.56 million LINK tokens worth $83.6 million through Binance. This buying spree resulted in LINK's price increasing by 41.8% to $20.57, moving its market cap over $11.76 billion, above Dogecoin's $11.5 billion.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 5:31 am

BTCUSD

Edward Snowden, known for his critical views on privacy and government surveillance, expressed his interest in the Bitcoin market over the Super Bowl LVIII, highlighting his focus on the cryptocurrency's chart. This year's Super Bowl lacked advertisements from major crypto firms, a departure from previous years. Jack Dorsey, co-founder of Twitter and Block Inc, made a subtle nod to Bitcoin by wearing a 'Satoshi' sweatshirt at the event. Bitcoin's value saw a significant increase, reaching over $48,000, coinciding with the Lunar New Year celebrations in Asia. The cryptocurrency market has seen a surge in investment, particularly in BTC Exchange Traded Funds (ETFs), which have attracted over a billion dollars, indicating a rising demand for Bitcoin. Notably, U.S. Spot Bitcoin ETFs experienced a substantial influx of funds, contrasting with the reduced outflows from GrayScale's Bitcoin Trust.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 3:58 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies showed mixed trading as the Lunar New Year began, with Bitcoin, Ethereum, and Dogecoin experiencing varied changes in their prices. Analysts predict a significant price target for Bitcoin, influenced by historical Lunar New Year trends and anticipation of Bitcoin ETFs. The global cryptocurrency market cap increased by 2.90% to $1.70 trillion. U.S. stock futures remained steady, with upcoming economic data releases expected to be closely monitored by traders.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 2:43 am

MSFT

Microsoft Corp. (NASDAQ:MSFT) has surpassed Apple as the most valuable global corporation, with a market cap of $3.125 trillion, driven by its significant embrace of artificial intelligence (AI). Despite this, analysts find it puzzling that Microsoft's valuation is nearly double that of the entire energy sector in the S&P 500, even though it generates half the free cash flow of these companies. The comparison highlights concerns about the sustainability of high valuations based on future growth expectations in a high-interest rate environment. Microsoft's free cash flow has been steady since 2022, with expectations of growth due to its AI initiatives. The energy sector, on the other hand, faces potential decreases in free cash flow due to increased capital expenditures driven by rising oil prices.

Portfolio Pulse from Shanthi Rexaline

February 11, 2024 | 7:55 pm

BTCUSD

Crypto analyst Pentoshi predicts Bitcoin (BTC) could reach $180,000 by the end of 2025, a 277% increase from current levels. This forecast is based on patterns on Bitcoin's three-day chart, the potential approval of spot Bitcoin ETFs, and growing interest from wealthy investors. Pentoshi's outlook hinges on Bitcoin's perceived finite supply and the unlimited nature of fiat money. Currently, Bitcoin trades at $48,164.61, nearing a $1 trillion market cap.

Portfolio Pulse from Bibhu Pattnaik

February 11, 2024 | 7:24 pm

AMDI

MTRS

SCRP

This week, three companies are scheduled for their initial public offerings (IPOs) according to Benzinga Pro. METROS DEVELOPMENT CO., LTD. (MTRS), Amphitrite Digital Inc (AMDI), and Scripps Safe, Inc (SCRP) are set to become publicly listed with their shares priced within specific ranges. Each company has a 180-day lockup period post-IPO.

Portfolio Pulse from Benzinga Insights

February 11, 2024 | 5:31 pm