Streetbeat News

Assets

BA

Boeing has initiated a sale of dollar bonds following its announcement of experiencing cash burn. This move is aimed at raising capital in light of its financial challenges.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:30 pm

AVGO

MRVL

JPMorgan analyst Harlan Sur highlights Broadcom (AVGO) and Marvell (MRVL) as key beneficiaries of increased AI infrastructure spending by tech giants like Microsoft (MSFT), Alphabet (GOOG/GOOGL), and Meta (META). These companies are investing heavily in GPUs, custom AI compute processors (ASICs), and networking infrastructure, benefiting chip manufacturers. Broadcom's collaboration with Meta and Google on custom silicon chips and Marvell's involvement with Microsoft's next-gen AI processor ASIC indicate significant revenue opportunities for both companies.

Portfolio Pulse from Surbhi Jain

April 29, 2024 | 12:28 pm

WEC

WEC Energy Group (NYSE:WEC) is set to acquire a 90% stake in the Delilah I Solar Energy Center, a 300-megawatt project near Dallas, Texas, developed by Invenergy. The investment totals $459 million, with commercial operations expected by end of June. The project, part of the larger Samson & Delilah solar portfolio, will supply renewable energy to a global automaker under a long-term agreement. This acquisition aligns with WEC's focus on expanding its renewable energy portfolio, which includes over 2 gigawatts of solar and wind capacity.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:09 pm

VVPR

VivoPower International PLC has sold its non-core business unit, Kenshaw Electrical, to ARA Group Limited for A$5M. This sale is part of VivoPower's strategy to concentrate on its high-growth businesses, including Tembo.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 11:38 am

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) is in talks with Turkey for a multibillion-dollar LNG deal to help Turkey reduce its reliance on Russian natural gas. Turkey aims to secure up to 2.5 million tonnes of LNG annually from Exxon, which could cost about $1.1 billion and cover 7% of its consumption. Exxon is expanding its LNG portfolio and recently reported first-quarter revenue of $83.083 billion. Investors can also gain exposure to XOM through Energy Select Sector SPDR Fund (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 11:27 am

BTCUSD

Bernstein's report indicates the slowdown in Bitcoin ETF inflows is a temporary pause, not a negative trend. The report suggests a future integration with private bank platforms and wealth advisors, maintaining a projection of a Bitcoin cycle high of $150,000 by 2025. Despite recent outflows, the bitcoin mining cycle remains healthy, and the market is in a consolidation phase, hinting at potential future upswings.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 11:27 am

BRK

Elliott Management Corp. has acquired a significant stake in Sumitomo Corp., a move reflecting the growing interest in Japanese trading companies by major investors, including Warren Buffett. The stake, worth several tens of billions of yen, represents about a 0.2% interest in Sumitomo for every ¥10 billion based on the recent closing share price. Sumitomo's shares have surged 27% this year, reaching an all-time high, partly due to Buffett's increased investments in Japanese trading houses. Berkshire Hathaway Inc. holds an 8.3% stake in Sumitomo, aiming for 9.9% in similar firms. This investment trend underscores Japan's appeal to activist investors, with Elliott Management leading the charge by targeting companies for strategic and financial overhauls to enhance shareholder returns.

Portfolio Pulse from Benzinga Neuro

April 29, 2024 | 11:25 am

ASXC

Asensus Surgical has announced a lease agreement with Sendai Tokushukai Hospital in Japan for the use of its Senhance Surgical System. This marks the second system to be utilized by one of Japan's largest private hospital systems, indicating a growing acceptance and integration of Asensus Surgical's technology in the Japanese medical sector.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:57 am

R

Ryder System, Inc. (NYSE:R) has opened a new multiclient logistics facility in El Paso, Texas, near the Ysleta Port of Entry, marking its second such facility at a major U.S.-Mexico port in recent months. This expansion aims to support the increasing nearshoring activity, following Mexico's emergence as the U.S.'s top trading partner last year.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:56 am

AULT

Ault Alliance, Inc. (NYSE:AULT) reported a preliminary Q1 2024 revenue of $36M, marking the highest first quarter revenue in the company's history. This figure excludes $3M from its AGREE hotel properties, which were initially considered for sale but will now be reclassified into continuing operations.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:33 am