Streetbeat News

Partnerships

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares surged after CEO Elon Musk's unexpected visit to China, meeting Premier Li Qiang and other officials, sparking a series of positive announcements. Future Fund's Gary Black speculates this effort is to secure approval for Musk's 2018 compensation plan at the 2024 shareholder meeting, especially after a positive Q1 earnings call and a deal with Baidu ($BIDU). Tesla's recent proxy statement calls for a re-vote on Musk's compensation plan, previously rescinded by a court. Tesla's stock fell over 2% in premarket trading following a 15% rise.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 11:03 am

CNVS

DRCT

META

The article highlights the top 3 oversold tech and telecom stocks in the communication services sector, suggesting potential investment opportunities. Direct Digital Holdings, Inc. (DRCT), Meta Platforms, Inc. (META), and Cineverse Corp. (CNVS) are identified as major players with their RSI values indicating they are oversold. DRCT's stock fell due to Nasdaq non-compliance notification, META's stock dropped despite better-than-expected earnings, and CNVS's stock declined following a deal with Konami Cross Media.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 11:02 am

META

MSFT

The 'GPT2-Chatbot' has recently gained attention for potentially outperforming OpenAI's GPT-4 in various tasks, including solving an International Math Olympiad problem and complex reasoning tasks. OpenAI CEO Sam Altman expressed a 'soft spot' for GPT2, hinting at its significance. Amidst speculation about its origins, some believe it could be an OpenAI creation, while others think it might come from a different entity. This development occurs as OpenAI prepares to launch GPT-5, expected to be a major upgrade over GPT-4, with Microsoft possibly integrating it into its Copilot Pro subscription. Meanwhile, Meta Platforms has introduced its Llama 3 model, claiming superior performance in benchmarks, though GPT-4 was not included in its comparisons.

Portfolio Pulse from Rounak Jain

April 30, 2024 | 10:38 am

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are up in premarket trading after announcing two upcoming Electron launches for NASA's PREFIRE mission, aimed at measuring Earth's polar heat loss. The launches, marking Rocket Lab's 48th and 49th, are scheduled for post-May 22, 2024, with the missions deploying satellites to aid in climate change research.

Portfolio Pulse from Nabaparna Bhattacharya

April 30, 2024 | 10:26 am

HAP

HJEN

SHEL

Nigeria's oil regulator has begun evaluating Shell plc's divestment of its Nigerian onshore subsidiary, SPDC, to Renaissance, a consortium. The $1.3 billion sale includes assets with significant oil and gas reserves. The evaluation will cover financial and technical capabilities, labor relations, and community obligations. Shell also signed a deal to supply gas to Nigeria's Brass methanol facility. Investors can track Shell's stock through Direxion Hydrogen ETF and VanEck Natural Resources ETF.

Portfolio Pulse from Lekha Gupta

April 30, 2024 | 10:19 am

BLND

Blend Labs shares surged following the announcement of a strategic partnership with Haveli Investments, which includes a significant $150 million investment into the company.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:14 am

IBM

IBM is expanding its team and capabilities at its Canada Software Lab to accelerate the adoption of generative AI and other key technologies. This move is aimed at enhancing IBM's position in the rapidly growing field of artificial intelligence, particularly in generative AI, which has seen increased interest and application across various industries.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 10:10 am

CHGG

COUR

MED

YUMC

Medifast reported mixed Q1 results, missing EPS estimates but beating sales expectations, leading to a 15.6% pre-market drop. Coursera, Chegg, ADC Therapeutics, Mesoblast, Coeur Mining, Prudential, Yum China, Sibanye Stillwater, and Rambus also saw pre-market declines due to various factors including disappointing financial results, leadership changes, and clinical trial updates.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 10:07 am

AMBA

Neusoft Reach and Ambarella have entered into a strategic partnership to accelerate developments in autonomous driving and intelligent automotive technology. This collaboration aims to leverage both companies' strengths to innovate in the rapidly evolving automotive sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:04 am

BMY

Scenic Biotech has entered into a research collaboration with Bristol Myers Squibb (BMY), granting BMY access to Scenic's Cell-Seq technology. The collaboration aims to explore genetic interactions in cellular pathways. Scenic will receive an upfront payment and may receive more based on achieving certain milestones.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:03 am