Streetbeat News

Assets

ICU

SeaStar Medical has announced a registered direct offering priced at-the-market, raising $9 million through the sale of 10,840,761 shares of common stock or pre-funded warrants. Additionally, in a private placement, the company will issue Series A and B warrants to purchase up to 10,840,761 and 5,420,381 shares of common stock, respectively, to a single institutional investor.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:07 pm

GBTC

Cryptocurrency analyst Justin Bennett predicts a significant drop in Bitcoin's value, suggesting it could fall to $10,000-$15,000. He cites systemic issues and chart analysis as reasons for his bearish outlook. Additionally, Bitcoin ETFs in the U.S. have seen a 14% decline and negative flows since their launch earlier in the month.

Portfolio Pulse from Mehab Qureshi

January 26, 2024 | 12:51 pm

BP

EQNR

Equinor ASA (EQNR) and BP PLC (BP) have restructured their offshore wind power project ownership. Equinor will take full ownership of the Empire Wind lease and projects, including BP's 50% share of the South Brooklyn Marine Terminal lease. BP will own Beacon Wind Holdings LLC and operate Beacon Wind projects. The deal is cash-neutral, except for standard settlements, and reflects both companies' strategic priorities. The transaction is expected to close in Q2 or Q3 2024, pending regulatory approval, and will result in a $200 million reported loss for Equinor. The deal will increase Equinor's capital expenditure to $1.2 billion in 2024 and $1.5 billion in 2025. Equinor's shares dropped by 0.69% to $28.65, while BP's shares rose by 0.74% to $35.41 in premarket trading.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 12:21 pm

DELL

IBM

INTC

ORCL

XLK

Sarat Sethi, Managing Partner at Douglas C. Lane & Associates, highlighted on CNBC's Last Call that '90s tech titans' like IBM, Oracle, Dell, and Intel have outperformed the 'Magnificent Seven' stocks in the past 90 days due to their robust cash flow growth. This trend is significant in the current high-interest rate environment, as cash flow is vital for operations and capital investments without relying on high-interest loans. IBM recently reported strong cash flow in its Q4 results, with $13.9 billion in net cash from operating activities. The Technology Select Sector SPDR Fund (XLK) fell slightly in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 26, 2024 | 12:12 pm

XP

XP reported that its client assets reached R$1.1 trillion as of December 31, 4Q23, marking a 19% increase year-over-year. This growth was attributed to R$105 billion in net inflows and R$72 billion from market appreciation.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 12:09 pm

ERIC

Ericsson (NASDAQ:ERIC) has secured a total of EUR 420 million in funding from the European Investment Bank (EIB) to finance R&D investments in wireless technology through 2025. The company received EUR 250 million in December 2023 and also signed a 7-year EUR 100 million green funding deal with the Nordic Investment Bank (NIB). Despite the funding, Ericsson reported a 16% year-on-year sales decline in Q4 FY23 and a lower EPS compared to last year. The company's net cash at the end of 2023 was SEK 7.8 billion, and its shares closed higher by 1.77% at $5.76 on Thursday.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 10:51 am

PEP

TSLA

PepsiCo Inc (NASDAQ:PEP) has reported that a Tesla Semi truck covered 1,076 miles in a single day with two drivers. PepsiCo, aiming for carbon neutrality by 2040, received Tesla Semis in 2022 and currently operates about 21 of them at its Sacramento distribution center. The Tesla Semi, still in pilot production, is expected to enter volume production in 2024. Tesla (NASDAQ:TSLA) is expanding Giga Nevada for Semi production and is working with PepsiCo to test the vehicle's durability.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 9:17 am

ERIC

Ericsson (NASDAQ:ERIC) has secured two funding agreements with the European Investment Bank (EIB) totaling EUR 420 million, with EUR 250 million already disbursed in December 2023. These loans will support Ericsson's R&D investments in wireless technology from 2023 to 2025, contributing to its goal of achieving Net Zero by 2040 by reducing energy consumption in mobile networks worldwide.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:33 am

COIN

MARA

MSTR

RIOT

Following the introduction of spot crypto ETFs in the US, stocks like MicroStrategy Inc (MSTR) and Coinbase Inc (COIN) have seen a decline in their stock prices, with MSTR down 25% and COIN down 29% over the past month. Bitcoin mining companies Riot Platforms (RIOT) and Marathon Digital Holdings Inc. (MARA) also experienced significant drops of 41% and 38%, respectively. Despite the downturn in crypto stocks, the new Bitcoin ETFs have attracted significant inflows, with $5.2 billion since their inception, countering outflows from Grayscale's Bitcoin Trust. Bitcoin's price remains volatile, trading at $40,060, up 0.52% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

January 26, 2024 | 5:21 am

BTC-USD

Vivek Ramaswamy, an entrepreneur, voiced concerns about the threats to personal financial liberty posed by a Central Bank Digital Currency (CBDC). He believes a CBDC could enable the government to freeze assets of dissenters, citing examples from China and Canada. Ramaswamy praised former President Donald Trump for being open to these concerns and publicly opposing CBDCs. Trump has reiterated his stance against CBDCs, emphasizing the protection of individual financial freedom. Meanwhile, Bitcoin (BTC) saw a slight increase in its price.

Portfolio Pulse from Mehab Qureshi

January 26, 2024 | 3:38 am