Streetbeat News

Partnerships

AAPL

AMZN

GOOG

GOOGL

MSFT

Wedbush analysts Dan Ives and Scott Devitt have raised their target price for Alphabet Inc. (GOOG/GOOGL) from $160 to $175, adding it to their Best Ideas List with an 'outperform' rating. They believe the risks AI poses to Google Search are overstated and see Alphabet as a beneficiary of generative AI. Despite trailing behind peers like Amazon (AMZN) and Microsoft (MSFT), optimism surrounds Alphabet's potential, especially with rumors of a deal with Apple (AAPL) to integrate Gemini in iPhone updates.

Portfolio Pulse from Rounak Jain

March 22, 2024 | 2:26 pm

MANU

SAEF

Manchester United Ltd. (NYSE:MANU) has entered a multi-year partnership with Malaysia Airlines, making it the club's official commercial airline. This collaboration aims to enhance Malaysia Airlines' global brand recognition, leveraging Manchester United's extensive fanbase in Europe and Southeast Asia. Financially, Manchester United reported an increase in cash and equivalents to £62.8 million as of December 31, 2023, and reaffirmed its fiscal 2024 revenue and adjusted EBITDA guidance. Despite a 45% stock price decline over the past year, MANU shares saw a slight increase of 0.58% to $13.81 recently. Investors can also gain exposure to MANU through the Schwab Strategic Trust Schwab Ariel ESG ETF (NYSE:SAEF).

Portfolio Pulse from Nabaparna Bhattacharya

March 22, 2024 | 1:52 pm

BMO

LBO

PSP

The Carlyle Group Inc. (NASDAQ:CG) and Bank of Montreal (NYSE:BMO) have partnered to launch a private equity strategy for Canada, aimed at accredited investors through BMO Global Asset Management. This strategy, available this spring, will provide access to a global diversified private equity portfolio via a single fund. The initiative is part of BMO Global's effort to expand access to private markets for Canadian investors. Investors can also gain exposure to Carlyle through Invesco Global Listed Private Equity ETF (NYSE:PSP) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO). CG shares saw a slight decrease of 0.58% to $47.12.

Portfolio Pulse from Lekha Gupta

March 22, 2024 | 1:44 pm

ADDDF

NKE

STNC

XLY

Nike Inc (NYSE:NKE) will become the official outfitter for all of Germany's national soccer teams starting in 2027, ending Adidas AG's (OTC:ADDDF) (OTC:ADDYY) 70-year legacy with the German Soccer Federation (DFB). The agreement, lasting until 2034, was influenced by Nike's financial offer and vision for promoting amateur sports and sustainable development. Adidas, facing challenges including a $1.3 billion sales hit from dropping the Yeezy brand, acknowledged the DFB's decision. The sports apparel market is expected to grow with upcoming major sports events. Nike's stock has risen 11% in the past six months, but traded lower by 7.12% at $93.64 in the last premarket check.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 1:33 pm

NTLA

REGN

Intellia Therapeutics has informed Regeneron Pharmaceuticals of its decision to opt out of the co-development and co-funding agreement for Factor IX, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:29 pm

ARKG

ARKK

ARKQ

BTCUSD

ARK Investment Management LLC predicts five disruptive technologies (AI, Energy Storage, Robotics, Multiomics, and Public Blockchains) could reach a market value of $220 trillion by 2030. These technologies are expected to drive significant economic growth and productivity. ARK's ETFs, ARKK, ARKQ, and ARKG, track the progress in AI, Robotics, and Genomics, respectively. The report also highlights the potential of cryptocurrencies, especially Bitcoin, to stabilize renewable energy grids and compete with fiat currencies.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 1:26 pm

ALK

Major airline executives plan to meet with Boeing's board chair Larry Kellner to discuss recent safety issues, excluding CEO David Calhoun from the talks. The concerns stem from an Alaska Air Group Inc mid-air incident and ongoing production challenges. The decision to bypass the CEO for discussions with Kellner, a former airline CEO, signals potential dissatisfaction with Boeing's leadership. The FAA has emphasized the need for safety and quality improvements at Boeing.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 1:20 pm

BTCUSD

ETHUSD

LULU

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed performance amid a decrease in weekly jobless claims. Ripple's CEO comments on SEC's actions against Ethereum and XRP. Lululemon's weak outlook impacts pre-market session alongside Nike. US political tensions rise with Marjorie Taylor Greene's statements. Taiwan's tech surge and China's investigation into PwC over Evergrande fraud affect the global economy. Apple faces an antitrust lawsuit, while Tesla's Cybertruck production ramps up. Air travel costs are expected to rise due to airlines passing on decarbonization expenses. Various companies face legal and market challenges.

Portfolio Pulse from Akanksha Bakshi

March 22, 2024 | 1:13 pm

BIDU

Baidu's stock price increased after a report by the Wall Street Journal indicated that Apple had discussions with Baidu regarding the use of AI technology in Apple's devices.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:06 pm

AAPL

TSLA

China's President Xi Jinping is set to meet with top U.S. business executives in Beijing, coinciding with the China Development Forum. Attendees may include executives from the National Committee on U.S.-China Relations, the U.S.-China Business Council, and Chubb Ltd. High-profile executives like Apple's Tim Cook and Blackstone's Stephen Schwarzman are expected to attend. The meeting aims to reassure foreign investors amid recent tensions and a decline in foreign investment in China. U.S. tech giants like Apple and Tesla have faced challenges in China due to nationalist policies and domestic competition.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:04 pm