Streetbeat News

Assets

BA

COIN

JNPR

Analysts predict Bitcoin ETFs could face premiums up to 8% amid high anticipation and lobbying efforts for approval. Cathie Wood's ARK Invest halts Coinbase selling and invests $8M in a chip giant. Emirates President highlights Boeing's quality control issues after a 737 Max 9 incident. Jim Cramer believes Bitcoin is topping out as ETF approval nears. Solana-based meme coin Bonk surges 30%. Former SEC Chair Jay Clayton sees Bitcoin ETF approval as inevitable. Juniper Networks' stock surges on news of a potential $13B acquisition by Hewlett Packard Enterprise.

Portfolio Pulse from Akanksha Bakshi

January 09, 2024 | 12:47 pm

CHPT

EVGO

TSLA

Tesla, Inc. (TSLA) has significantly outpaced competitors ChargePoint Holdings, Inc. (CHPT) and EVgo Inc (EVGO) in the installation of fast chargers, adding 6,000 in 2023 while CHPT and EVGO added only 410 and 850, respectively. Tesla's unique connector design gives it a competitive edge. ChargePoint experienced a market value decline and a CEO change, with new CEO Rick Wilmer citing economic uncertainty as a reason for customers' reluctance to invest in chargers. U.S. public charging stations are behind BloombergNEF's 2023 forecast by 76%, and the U.S. is expected to trail China and Europe in charging infrastructure. CHPT and EVGO stocks are trading lower premarket, as is TSLA.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 12:33 pm

VNT

Vontier Corporation has sold its Coats business to Victor Capital Partners for $72.5 million in an all-cash deal. Coats is expected to generate $110 million in revenue and $10 million in EBITDA for 2023. The financial results of Coats are included in Vontier's 'Other' segment and will be removed from continuing operations from the transaction's completion date, January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:05 pm

ES

Eversource Energy (NYSE:ES) is in advanced talks to sell its 50% stake in three offshore wind projects to a global private infrastructure investor. The company will record an impairment charge of $1.4-$1.6 billion in Q4 due to revised construction costs, which will not affect future cash flows or current cash balances. Eversource will provide 2024 earnings guidance and other financial forecasts in an upcoming earnings call.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 11:44 am

FLNG

Flex LNG announced that its Flex Constellation ship will return in Q2 2024 after the charterer decided not to extend the charter option. This news follows an earlier report on Monday.

Portfolio Pulse from Charles Gross

January 09, 2024 | 11:09 am

CTRE

CareTrust REIT has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility in California. CareTrust entered into a joint venture with a third-party investor, contributing $10.7 million in common and preferred equity, funded by cash on hand.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:04 am

MTCH

Elliott Management has taken a roughly $1 billion position in Match Group, the online-dating company. The Wall Street Journal reported this late Monday, indicating a significant investment by the activist hedge fund in the owner of popular dating platforms like Tinder.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:57 am

FLNG

Flex LNG Ltd. (FLNG) announced that the charterer of its Flex Constellation ship has not exercised the extension option. The ship was on a three-year Time Charter since May 17, 2021, with an option to extend up to three years. Flex LNG expects to take redelivery of the ship in Q2 2024. The company has a 95% charter coverage for 2024 and anticipates recontracting the vessel at higher rates than the current $80,000 per day, as market rates are quoted at $90-100,000 per day.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:44 am

DIS

SONY

Zee Entertainment has reportedly missed a $200 million payment deadline for cricket broadcasting fees owed to Disney. The missed payment could have implications for both companies, potentially affecting their financials and stock performance.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:07 am

COIN

PATH

QCOM

ROKU

Cathie Wood's Ark Investment Management paused its sell-off of Coinbase Global, Inc. (COIN) shares, after consistently selling since July 2023. Coinbase is a major holding in Ark's ETFs, including ARKK, ARKF, and ARKW. Despite the sell-off, the value of Ark's Coinbase stake increased by over $400 million due to a rally in the shares. Ark also invested $8M in Qualcomm, Inc. (QCOM) through ARKW and ARKQ, marking a re-entry after a 5-year hiatus. Additionally, Ark sold shares of Roku, Inc. (ROKU) and UiPath Inc. (PATH).

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 9:43 am