Streetbeat News

Partnerships

PARA

Paramount Global announces leadership changes with Bob Bakish stepping down. George Cheeks, Chris McCarthy, and Brian Robbins appointed to lead as Office of the CEO. The new leadership aims to accelerate growth, streamline operations, and optimize streaming strategy. Paramount Global's Board expresses confidence in the new leaders' ability to enhance company performance and value creation.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:01 pm

TSLA

UBER

BofA analyst Justin Post reiterated a Buy rating on Uber Technologies, Inc (NYSE:UBER) with a price target of $91, citing strong bookings and EBITDA growth. Post expects Uber's core bookings to accelerate and new verticals like Hailables and Grocery to drive growth. Despite potential competition from Tesla's robotaxi plans, Post sees a possible future partnership between Uber and Tesla. He remains constructive on Uber as a top travel and transportation stock.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 6:58 pm

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U.S. stocks saw modest gains with the S&P 500, Nasdaq, and Dow all trading higher. ON Semiconductor reported better-than-expected Q1 results but projected Q2 revenues below consensus. Deciphera Pharmaceuticals surged after an acquisition announcement by ONO Pharmaceutical. Collective Audience and Koninklijke Philips also saw significant gains, while Clever Leaves, Addex Therapeutics, and Annovis Bio experienced sharp declines.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 6:34 pm

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DXL Big + Tall has announced a strategic collaboration with Nordstrom to expand its fit expertise to a broader audience of big and tall customers. This partnership aims to leverage DXL's specialized knowledge in the big and tall market segment, offering Nordstrom's customers access to a wider range of sizes and fits. This move is expected to enhance customer experience and satisfaction by catering to a demographic that often faces limited options in mainstream retail.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 6:32 pm

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TSLA

U.S. stocks opened positively, with major indices rising ahead of key events including tech earnings, a Federal Reserve meeting, and the April jobs report. Tesla surged 16% on a partnership with Baidu for its Full Self-Driving system in China. Small caps outperformed, and the iShares Russell 2000 ETF rose 0.9%. The Bank of Japan intervened to support the yen, causing a significant forex market movement. Natural gas prices jumped 7%, while Bitcoin saw a decline. Sector-wise, consumer discretionary and utilities stocks led gains.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 6:14 pm

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Clever Leaves Holdings Inc. announced its decision to voluntarily delist from Nasdaq, causing a 60% drop in its shares. Other stocks moved significantly in Monday's session, with Deciphera Pharmaceuticals surging 73% after an acquisition announcement, and various companies like Collective Audience and ImmunityBio also seeing substantial gains. Losers included Annovis Bio, down 57% after disappointing trial results, and Addex Therapeutics, falling 48.8% due to a failed epilepsy study.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 5:04 pm

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced T.J. Rodgers as the new CEO, succeeding Chris Lundell. Rodgers plans to leverage his experience in fundraising and M&A to guide the company through its financial challenges, including a significant reduction in quarterly operating expenses and addressing quality issues. The company faces pressure from its private equity debt holders, particularly Carlyle, which Rodgers criticizes for their detrimental financial tactics. Complete Solaria also promoted Brian Wuebbels to COO. Rodgers aims to convert debt to equity to alleviate financial strain and criticizes Carlyle's approach to business and its impact on companies and communities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:48 pm

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TSLA

Wells Fargo analyst comments on Tesla's recent approval for Full Self-Driving (FSD) in China, stating the news is overdone. The approval was positively influenced by Tesla's partnership with Baidu, which eased China regulators' concerns over data security. However, the economic and data sharing details of the partnership between Tesla and Baidu remain unclear.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:47 pm

AAPL

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TSLA

Tesla's stock jumps $20 on China's in-principle approval of Full Self Driving, partnering with Baidu, lifting both TSLA and AAPL stocks. Apple's risk in China is reduced, but faces increased regulatory pressure in Europe. Japan's forex intervention boosts market sentiment. Early trade money flows are positive for AAPL, AMZN, TSLA; neutral for MSFT, NVDA; negative for GOOG, META; mixed for SPY, QQQ. Gold, oil, and bitcoin markets are also discussed, with investment strategies suggested.

Portfolio Pulse from The Arora Report

April 29, 2024 | 4:28 pm

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Domino's Pizza Inc reported better-than-expected Q1 earnings with a 6% sales growth and EPS of $3.58. Deciphera Pharmaceuticals shares surged 72% after an acquisition announcement by ONO Pharmaceutical. Collective Audience shares doubled following a strategic partnership with Insticator. Philips gained 29% after settling litigation and posting strong earnings. Conversely, Clever Leaves announced a voluntary Nasdaq delisting, causing shares to drop 62%. Addex Therapeutics and SoFi Technologies also saw significant declines after disappointing news. Oil prices fell by 1.2%, while gold and silver saw slight increases.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 4:03 pm