Streetbeat News

Corporate Responsibility

TSLA

Wedbush analyst Daniel Ives lowered Tesla's price target from $350 to $315 and removed it from the Best Ideas List after a disappointing Q4 report and vague 2024 guidance. Ives criticized Tesla's earnings call and suggested a 10-point plan to improve share performance, including a $10 billion buyback, a new 'X Holding' structure for AI initiatives, maintaining automotive margins, hosting an AI Day, securing outside capital for X/Twitter, a new CEO compensation package, setting a Model 2 production timeline, returning to formal guidance, AI acquisitions, and setting long-term AI targets.

Portfolio Pulse from Chris Katje

January 26, 2024 | 6:15 pm

AAPL

AMZN

CRM

GOOG

META

MSFT

Big Tech companies like Amazon, Google, Microsoft, Meta, and Apple, known for their significant cash reserves, are continuing layoffs into the new year, with Amazon and Google announcing more job cuts. These layoffs are part of cost-cutting measures to fund expensive AI initiatives, despite the recovery of online advertising revenues post-pandemic. Microsoft has an early lead in AI due to its partnership with OpenAI, while Amazon and Google are striving to catch up.

Portfolio Pulse from Upwallstreet

January 26, 2024 | 5:52 pm

AAL

ALGT

ALK

DAL

JBLU

UAL

Delta Air Lines Inc (DAL) topped The Wall Street Journal's annual airline rankings for the third consecutive year, demonstrating strong operational efficiency and customer service. Alaska Air Group Inc (ALK) and Allegiant Travel Company (ALGT) followed in second and third place. However, JetBlue Airways Corporation (JBLU) ranked at the bottom due to congested airspace over New York City. The industry overall showed improved performance with the best on-time arrival rate since 2019, though challenges like baggage handling, tarmac delays, and passenger complaints persist. American Airlines Group Inc (AAL) and United Airlines Holdings Inc (UAL) have made significant improvements, but the progress in reducing flight cancellations and delays remains uneven across carriers.

Portfolio Pulse from Michael Cohen

January 26, 2024 | 5:23 pm

EFSH

Shares of 1847 Holdings LLC (AMEX:EFSH) are rising after the company announced securing a $750,000 credit facility for its subsidiary Wolo Manufacturing Corp. The credit facility is expected to strengthen Wolo's liquidity and financial flexibility, allowing for potential sales growth of 50-70% in 2024 without equity dilution. This news follows a recent 1-for-4 reverse stock split effective January 8, 2024. EFSH's stock had dropped over 23% in the past month but is currently up 5.35% at $1.591.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 4:12 pm

HUT

Hut 8 Corp. (NASDAQ:HUT) shares are rising after the announcement of its CCO Matt Prusak's departure to become CEO of a new bitcoin mining company formed from Celsius Network LLC's bankruptcy. Hut 8 will provide managed services for this new company's operations in Texas. The company also responded to a short-seller report from J Capital Research, claiming it aims to harm Hut 8's share price. Additionally, Hut 8's stock movement may correlate with Bitcoin's price changes.

Portfolio Pulse from Erica Kollmann

January 26, 2024 | 3:52 pm

LUMN

Lumen Technologies' stock is trading higher following the announcement of an amended and rested transaction support agreement with a group of creditors.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 3:28 pm

AYX

Alteryx has appointed Kevin Rubin as its Interim CEO, replacing Mark Anderson. Rubin's experience and familiarity with the company's operations are expected to ensure a smooth transition and continued strategic execution.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 2:02 pm

FRHC

Freedom Holding Corp. (FRHC) shares have risen following the completion of an external review of allegations from a short-seller report.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 1:44 pm

JPM

JPMorgan Chase & Co (NYSE:JPM) has announced a major reshuffling of its top management, positioning key executives for more operational experience and potential succession. Jennifer Piepszak and Troy Rohrbaugh are now Co-CEOs of the expanded Commercial & Investment Bank segment. Marianne Lake becomes the sole CEO of Consumer and Community Banking (CCB). Viswas Raghavan will lead global investment banking, while Marc Badrichani is leaving the company. JPMorgan also reported a 12% Y/Y increase in Q4 net revenue, beating consensus estimates. JPM shares saw a slight increase in premarket trading.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 1:35 pm

BHP

VALE

Brazilian federal judge orders Vale SA (NYSE:VALE) and BHP Group Ltd (NYSE:BHP) to pay $9.67 billion for damages related to the 2015 dam collapse in Mariana. The collapse resulted in 19 deaths and severe pollution of the Rio Doce River. The funds are designated for repair and compensation actions. Vale has not been notified of the decision but remains committed to supporting the reparation through the Renova Foundation. Vale's and BHP's shares are down in premarket trading.

Portfolio Pulse from Lekha Gupta

January 26, 2024 | 12:55 pm