Streetbeat News

Legal

LYV

The US Department of Justice (DoJ) has intensified its antitrust investigation into Live Nation Entertainment by issuing new requests for information. This move suggests a deeper probe into the company's practices, potentially focusing on issues related to market dominance and anti-competitive behavior.

Portfolio Pulse from Charles Gross

February 06, 2024 | 12:21 am

CMCSA

The documentary 'Stormy,' focusing on Stormy Daniels and her alleged affair with Donald Trump, is set to release on March 18 on Peacock, owned by Comcast Corporation (NASDAQ:CMCSA). The release coincides with Trump's trial over hush money payments to Daniels, potentially impacting public perception during the 2024 presidential campaign. The documentary is directed by Sarah Gibson, with Judd Apatow as an executive producer.

Portfolio Pulse from Chris Katje

February 05, 2024 | 11:37 pm

CAT

DE

KMTUY

UBS predicts a bull market for gold and silver in 2024, driven by potential Federal Reserve interest rate cuts, with gold expected to reach $2,200 per ounce. The global mining equipment market is also forecasted to grow significantly, benefiting companies like Deere & Company, Caterpillar, and Komatsu America Corp. South Africa's President highlights challenges in the mining sector, including energy shortages and illegal activities, impacting the country's attractiveness to investors.

Portfolio Pulse from Austin DeNoce

February 05, 2024 | 10:44 pm

DIS

Walt Disney Co (NYSE:DIS) is set to report Q1 financial results on Feb. 7, 2024, with expected revenue of $23.685 billion and EPS of 99 cents. Analysts highlight Disney's cost-cutting and strong cash flow growth guidance, particularly from the Experiences and DTC segments. Disney+ subscriber growth and battles with Elon Musk and Florida Gov. Ron DeSantis are key issues. Disney faces challenges from activist investor Nelson Peltz. DIS shares are down 0.49% to $96.65, with a 7% increase YTD in 2024.

Portfolio Pulse from Chris Katje

February 05, 2024 | 10:36 pm

APTM

Mercury Capital announced significant leadership changes at Alpha Partners Technology Merger Corp (APTM), including the resignation of CEO Matt Krna and CFO Sean O'Brien on Dec 28, 2023. Subsequently, on Jan 3, 2024, Kanishka Roy was appointed as President and CEO. Additionally, several board members resigned on Dec 28, 2023, and new members were appointed on Jan 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 8:26 pm

TSLA

Tesla Inc (NASDAQ:TSLA) shares are trading lower due to concerns over alleged illegal drug use by CEO Elon Musk and other board members, as reported by the Wall Street Journal. The report suggests that Musk has normalized drug use among directors, potentially affecting their ability to oversee the company. Additionally, Piper Sandler cut its 2024 delivery estimates for Tesla, citing potential margin impacts from continued price cuts, though it remains bullish on Tesla's long-term prospects.

Portfolio Pulse from Adam Eckert

February 05, 2024 | 8:02 pm

CLF

X

Former President Donald Trump has expressed intentions to block the acquisition of United States Steel Corp. (NYSE:X) by Nippon Steel Corp., despite the deal's potential benefits to shareholders. The $14.1 billion acquisition was chosen over a lower bid from Cleveland-Cliffs Inc. (NYSE:CLF) due to antitrust concerns. Trump's opposition adds uncertainty to the deal's regulatory approval, potentially impacting U.S. Steel's stock, which has significant upside if the deal closes but also downside risk if it doesn't.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 7:33 pm

AMZN

Amazon.com Inc has launched a new AI assistant named Rufus, designed to help shoppers with product-related queries. Rufus, which uses a proprietary algorithm, has sparked debate over its potential to guide users to sponsored products, raising concerns given Amazon's history and ongoing antitrust lawsuit regarding a 'pay-to-play' system in product recommendations. While initially, Rufus is not influenced by advertising, analysts speculate it might eventually incorporate sponsored results to boost advertising revenue. Amazon's efforts in generative AI, including AWS's advancements, highlight the company's focus on enhancing customer experiences through technology.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 6:45 pm

ADM

The U.S. Department of Justice (DOJ) is investigating Archer Daniels Midland (ADM) for its accounting practices, specifically focusing on pricing practices within its nutrition segment. The investigation is being conducted by the U.S. Attorney's Office for the Southern District of New York, which has recently been in contact with former ADM employees for information.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:56 pm

BA

SPR

BofA Securities analyst Ronald J. Epstein maintains a Neutral rating on Boeing Co (NYSE:BA) with a price target of $225, despite the FAA's halt on 737 production. The halt is expected to pressure Boeing's 2025/2026 production and FCF targets but is seen as beneficial in the long term for a stronger production system. The analyst raised FY24 and FY25 EPS estimates but lowered FY26 forecasts due to new quality defects in 737 Max airplanes discovered by Boeing's supplier, Spirit AeroSystems Holdings Inc (NYSE:SPR), potentially delaying deliveries. Boeing's Q4 revenue increased by 10% YOY, with an adjusted loss per share improvement.

Portfolio Pulse from Lekha Gupta

February 05, 2024 | 5:55 pm