Streetbeat News

Corporate Responsibility

RIOT

Riot Blockchain's CEO announced that the company has been preparing for the Bitcoin halving event for several years, focusing on infrastructure development during the last downturn. They aim to increase their self-mining hash rate by over 150% this year.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:48 pm

DKNG

FLUT

NCAA President Charlie Baker criticized college prop betting, particularly highlighting the focus on Caitlin Clark's performance, as problematic. DraftKings Inc. (DKNG) shares dropped, while Flutter Entertainment PLC (FLUT), FanDuel's parent company, saw a rise in its stock. Baker's concerns include the potential for harassment of student-athletes by bettors and the risk of fixed bets compromising game integrity. Despite these issues, companies like DraftKings and FanDuel continue to see financial growth.

Portfolio Pulse from Anthony Noto

April 09, 2024 | 6:27 pm

AMZN

MSFT

TSM

Microsoft Corp (NASDAQ:MSFT) announced a $2.9 billion investment in Japanese data centers by 2025 to boost AI and cybersecurity, coinciding with Prime Minister Kishida's US visit. This move aligns with Tokyo's AI ambitions and positions Microsoft as a key cloud services provider, second to Amazon.Com Inc (NASDAQ:AMZN). Additionally, Taiwan Semiconductor Manufacturing Co (NYSE:TSM) plans to source 60% of materials locally for its Japanese chip facility by 2030, with significant Japanese government investment. AWS also commits $15.5 billion to Japanese operations from 2023 to 2027.

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 6:07 pm

ITA

MISL

RTX

RTX Corporation's shares are trading lower despite the announcement of its Pratt & Whitney unit's North American Technology Accelerator (NATA) in Florida, aimed at enhancing commercial and military aftermarket operations. NATA focuses on material restoration, process automation, and advanced repairs to reduce costs, environmental impact, and improve customer value. A significant initiative includes additive repairs for GTF engine parts, with an anticipation of reclaiming $100 million in parts over five years.

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 5:51 pm

REE

SBOT

Brian Read has been appointed as the CFO of Serve Robotics, with his role becoming effective around April 29, 2024, according to an SEC filing. The companies REE and SBOT are mentioned in relation to this news.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:49 pm

BA

SPY

Senator Blumenthal is set to hold a hearing on April 17 with a Boeing whistleblower to discuss the company's safety culture, according to a spokesperson for Blumenthal, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:14 pm

NCLH

Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) announced plans for eight new ships across three brands, adding nearly 25,000 berths, and the construction of a multi-ship pier at Great Stirrup Cay. The ships are scheduled for delivery between 2026 and 2036, with financing secured for two of the ships. Stifel analyst Steven Wieczynski reiterated a Buy rating with a $25 price target, highlighting the company's aggressive expansion and potential for market entry with minimal fleet cannibalization. Despite a short-term 2.35% drop in NCLH shares to $18.93, the long-term growth prospects are deemed positive.

Portfolio Pulse from Shivani Kumaresan

April 09, 2024 | 5:01 pm

CRON

Cronos Group Inc (NASDAQ:CRON) shares fell by 2.78% to $2.63, influenced by Tilray's worse-than-expected Q3 results. Tilray reported a 16.8% increase in net revenue, with significant growth in beverage-alcohol and global cannabis net revenue. Despite Tilray's growth, the cannabis sector, including Cronos, experienced a downturn. Cronos does not pay dividends but may engage in buyback programs as a form of shareholder value return. The upcoming Benzinga Cannabis Capital Conference in Florida could be a significant event for cannabis industry stakeholders.

Portfolio Pulse from Henry Khederian

April 09, 2024 | 4:34 pm

HLIT

Harmonic Inc. announced a CEO succession plan and updated its Q1 guidance, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 3:54 pm

INTC

Intel announced at Vision 2024 its commitment to advancing enterprise AI through the introduction of Gaudi 3, an AI Open Systems Strategy, and securing new customer partnerships. This move signifies Intel's strategic focus on open and secure AI solutions across various industries.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 3:37 pm