Streetbeat News

Partnerships

AMD

FTXL

INTC

NVDA

SOXQ

Intel Corp has managed to continue its chip sales to Huawei, leveraging a license from the previous U.S. administration despite AMD's objections and broader sanctions concerns. This situation underscores the competitive and regulatory challenges in the tech industry, with Intel's ability to supply Huawei being a significant factor for both companies. Additionally, Intel is positioned to benefit from U.S. government funding under the Chips Act, highlighting its role in artificial intelligence technology alongside Nvidia Corp. The First Trust Nasdaq Semiconductor ETF and Invesco PHLX Semiconductor ETF offer investment avenues into this sector.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:17 pm

ASAN

BCAN

CLRO

RGLS

SPPL

Asana, Inc. (ASAN) shares fell by 11% following soft FY25 revenue guidance, despite beating quarterly earnings and sales estimates. Other stocks showed significant movement, with ClearOne, Inc. (CLRO) and Regulus Therapeutics Inc. (RGLS) among the top gainers, while BYND Cannasoft Enterprises Inc. (BCAN) and Simpple Ltd. (SPPL) led the losers. The market saw a mix of positive and negative financial results, strategic moves, and guidance updates.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 6:07 pm

BYDDY

HMC

NSANY

Nissan Motor Co Ltd (OTC:NSANY) and Honda Motor Co Ltd (NYSE:HMC) are considering production cuts in China due to increased competition from electric vehicle manufacturers like BYD Company (OTC:BYDDY). Nissan plans a 30% reduction, about 500,000 cars, and Honda looks at a 20% cut, around 1.2 million vehicles. This decision comes as both companies face declining sales in China, with Nissan's sales dropping 16.1% and Honda's by 10% last year. Nissan is also planning to restructure its production with local partners to focus on exports.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 6:04 pm

RUM

Rumble, Inc. (NASDAQ:RUM) has expressed interest in becoming a cloud technology partner for TikTok, as revealed in an offer letter posted by CEO Chris Pavlovski. The letter highlights Rumble's recent launch of the Rumble Cloud, emphasizing its secure, US-based infrastructure. The news has sparked discussions among traders on Stocktwits, with many seeing significant growth potential for Rumble if it becomes TikTok's partner, especially in light of potential bipartisan support to ban TikTok unless it meets certain requirements. Rumble's stock was trending on Stocktwits, with a notable increase in trading volume and a 17.6% rise in share price to $7.86.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 6:01 pm

META

PSTG

Pure Storage (PSTG) shares are declining as traders share information from 'The Fly' indicating that Meta Platforms (META) appears to be moving away from using third-party Pure Storage hardware for AI, according to Wedbush.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:46 pm

DISH

FOXA

Fox has announced the expansion of its FOX Nation distribution to include DISH Network and SLING TV. This move is aimed at increasing the reach and accessibility of FOX Nation's content, potentially attracting more subscribers and enhancing viewer engagement across these platforms.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:15 pm

MSFT

NVDA

ORCL

Oracle Corporation (NYSE:ORCL) experienced a 13% stock value surge following a solid earnings report and a confident outlook, emphasizing 'hypergrowth' in its Gen2 cloud infrastructure business. The company's expansion plans include rapidly opening and expanding cloud datacenters to meet high demand. Analysts have responded positively, with upgrades in ratings and target prices. Oracle's strategic partnerships with Nvidia Corporation (NASDAQ:NVDA) and Microsoft Corporation (NASDAQ:MSFT) further bolster its position in the cloud and AI sectors.

Portfolio Pulse from Neil Dennis

March 12, 2024 | 5:03 pm

CELH

Celsius Holdings (NASDAQ:CELH) has seen significant options trading activity, with a bullish sentiment from the majority of investors. Analysis of 25 trades shows 60% bullish and 40% bearish expectations. The trading volume and open interest suggest a price target range of $55.0 to $130.0. Celsius Holdings, known for its energy drinks, has a 20-year distribution agreement with PepsiCo. The stock is currently up 1.86% at $86.9, potentially overbought. Analysts have mixed target prices, ranging from $67 to $95, with an average of $83.4.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 5:00 pm

ASTS

AST SpaceMobile, Inc. (NASDAQ:ASTS) has updated its satellite constellation filing with the ITU and FCC, aligning its planned commercial satellites under U.S. jurisdiction. This move is part of AST SpaceMobile's strategy to build the first space-based cellular broadband network accessible by smartphones. The company, benefiting from U.S. regulatory frameworks, has secured investments from AT&T, Google, and Vodafone, and a contract with the U.S. Government. It has partnerships with over 40 mobile operators globally.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:17 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) shares rose after announcing a new U.S. government contract valued at over $500,000 for the development of DeepView SnapShot, a handheld version of its DeepView Wound Imaging System. The contract, awarded by the Defense Health Agency and the US Army Medical Material Development Activity, underscores Spectral AI's commitment to AI-driven healthcare innovation and battlefield burn solutions.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 4:09 pm