Streetbeat News

Earnings

TSLA

Tesla Inc (NASDAQ:TSLA) has shared a video showcasing its Optimus humanoid robot walking at its fastest pace yet, with a 30% speed increase since December. The improvements include enhancements to the robot's vestibular system, foot trajectory, ground contact logic, and motion planner, contributing to its stability and confidence, especially during turns. CEO Elon Musk expressed optimism about delivering some units of Optimus next year, despite acknowledging uncertainties. The main challenge remains making Optimus capable of performing useful tasks, with the goal for it to start contributing in Tesla factories by 2024.

Portfolio Pulse from Anan Ashraf

February 26, 2024 | 5:40 am

BRK

BTCUSD

Berkshire Hathaway's Q4 earnings report revealed a cash reserve of over $167 billion. Anthony Scaramucci speculated on X (formerly Twitter) about the possibility of Warren Buffett investing in Bitcoin as a cash hedge, despite Buffett's historical skepticism towards cryptocurrencies. Buffett has previously criticized Bitcoin as a 'gambling token' without intrinsic value. Bitcoin's value has surged, breaking above $50,000 for the first time in two years.

Portfolio Pulse from Shanthi Rexaline

February 25, 2024 | 10:32 pm

BTCUSD

ETHUSD

RNDRUSD

The cryptocurrency market saw a slight recovery over the weekend, with the market cap increasing by 1.2% to $1.98 trillion. Bitcoin traded sideways, briefly dipping below $1 trillion in valuation, while Ethereum outperformed with a 2.4% gain. Shiba Inu remained in focus due to high burn rates and whale transfers. The MAGA memecoin rallied following Donald Trump's acceptance of Bitcoin. AI-related cryptocurrencies, including Bittensor and Render, gained on positive sentiment after Nvidia's earnings and comments on AI by Ethereum's Vitalik Buterin. Spot Bitcoin ETFs saw a slowdown in flows, while Reddit's IPO and investment in Bitcoin and Ethereum marked significant developments. The Nasdaq Composite and Dow Jones also saw gains, attributed to strong earnings and economic data.

Portfolio Pulse from Khyathi Dalal

February 25, 2024 | 3:03 pm

NVDA

Nvidia Corp. (NASDAQ:NVDA) experienced significant growth due to the AI revolution, with its stock price soaring. Despite Jim Cramer's 2022 sell recommendation due to concerns over Ethereum's merger impacting demand for Nvidia's graphics cards, the company's focus on AI, virtual reality, and machine learning has paid off. Nvidia's recent earnings beat estimates, and its market cap approached $2 trillion, driven by demand for its chips in AI applications. A $1,000 investment in Nvidia in September 2022 would now be worth $5,894, a 490% return.

Portfolio Pulse from Shanthi Rexaline

February 25, 2024 | 2:58 pm

META

NVDA

This week in tech, Mark Zuckerberg of Meta Platforms Inc. (META) discussed Sam Altman's AI chipmaking plan, while Nvidia Corp (NVDA) achieved record highs and surpassed Q4 earnings expectations. Jim Cramer praised Nvidia's performance, and Elon Musk criticized Google's AI. Nvidia's success is highlighted as a significant moment for the tech market.

Portfolio Pulse from Benzinga Neuro

February 25, 2024 | 5:27 am

CLDX

Celldex Therapeutics announced positive Phase 2 results for Barzolvolimab in treating Chronic Spontaneous Urticaria, meeting primary and secondary endpoints. The treatment showed significant decreases in disease activity, rapid onset within 2 weeks, and a favorable safety profile. Results are consistent across different patient groups, and Phase 3 trials are expected to start in 2024. A webcast is scheduled for February 25th.

Portfolio Pulse from Charles Gross

February 24, 2024 | 11:25 pm

BRK

Warren Buffett, CEO of Berkshire Hathaway Inc. (NYSE:BRK), paid tribute to the late Charlie Munger in his annual letter, calling him the 'architect' behind the conglomerate's success. Munger, who passed away on Nov. 28, was pivotal in shaping Berkshire's strategy, advising Buffett to focus on acquiring businesses at fair prices. Berkshire Hathaway's Q4 operating earnings rose 28% year-over-year, with full-year earnings up 21.06%. Buffett also cautioned investors against following Wall Street advice.

Portfolio Pulse from Nabaparna Bhattacharya

February 24, 2024 | 6:27 pm

ALTI

AMZN

BKNG

NVDA

Barron's weekend stock picks highlight Nvidia's AI market leadership, AlTi Global's share drop post-M&A announcement, Booking Holdings' strong earnings but stock drop, Rivian's double downgrade due to EV demand concerns, and Amazon's Dow 30 inclusion potentially leading to underperformance. Nvidia, AlTi Global, Booking Holdings, and Amazon are directly mentioned.

Portfolio Pulse from Justin Chan

February 24, 2024 | 5:11 pm

AAPL

AXP

BAC

BRK

CVX

OXY

Berkshire Hathaway Inc. reported a 28% increase in Q4 operating earnings, driven by its insurance businesses. Annual operating earnings rose 21.06% to $37.350 billion. The company's investments are heavily concentrated in American Express, Apple, Bank of America, Coca-Cola, and Chevron, with significant ownership in Occidental Petroleum. Berkshire used $2.2 billion for share repurchases in Q4, bringing the total to $9.2 billion for the year. The company's cash position reached a record $167.6 billion. Warren Buffet paid tribute to Charlie Munger, describing him as the 'architect' of Berkshire.

Portfolio Pulse from Nabaparna Bhattacharya

February 24, 2024 | 3:30 pm

KARS

LCID

NIO

PSNY

RIVN

TSLA

This week in the EV sector, bearish sentiment surrounded Tesla, with its stock underperforming due to a double miss in Q3 2023 earnings and price adjustments. Rivian and Lucid faced production challenges and disappointing earnings, while Ford paused F-150 Lightning shipments. Nio is testing humanoid robots for production efficiency, and Volvo plans to cut its stake in Polestar. The KraneShares Electric Vehicles ETF saw a slight decline.

Portfolio Pulse from Shanthi Rexaline

February 24, 2024 | 3:17 pm