Streetbeat News

Partnerships

ARM

INTC

MSFT

UMC

Intel Corp (NASDAQ:INTC) hosted Intel Foundry Direct Connect, where CEO Pat Gelsinger outlined the future of Intel, including the division into Intel Products and Intel Foundry. The event detailed updates to the Foundry services roadmap, including new business units, volume production updates, and partnerships. Notably, Intel is expanding its foundry services and has design wins with Microsoft Corp (NASDAQ:MSFT) and Arm Holdings Plc (NASDAQ:ARM) for SoCs. Additionally, Intel announced a partnership with United Microelectronics Corp (NYSE:UMC) for 12nm production. Despite these developments, Oppenheimer analyst Rick Schafer maintains a Perform rating on INTC, citing the company's ongoing efforts to achieve process leadership and foundry ambitions.

Portfolio Pulse from Anusuya Lahiri

February 22, 2024 | 7:37 pm

MSFD

MSFT

MSFU

Microsoft is leading in AI with its investment in OpenAI, powering products like Copilot, and leveraging Azure for backend processing. This has propelled Microsoft's growth, with Azure's revenue up 30% last quarter. The partnership with OpenAI, especially in AI and cloud services, is challenging AWS's market dominance. For investors, Direxion offers leveraged ETFs, MSFU for bulls and MSFD for bears, to capitalize on Microsoft's performance.

Portfolio Pulse from Johnny Rice

February 22, 2024 | 6:58 pm

RACE

Ferrari (NYSE:RACE) stock reached a new 52-week high of $411.90, outperforming the S&P 500 Index significantly over the past year and so far in 2024. Key growth drivers include Warren Buffett's endorsement, a 34% surge in net profit for 2023, raised forecasts for 2024, full order books until 2025, and an approaching $100 billion market cap. UBS rated the stock a Buy with a price target of $448. Ferrari's share buyback program and competitive differentiation in the auto sector also contribute to its strong performance.

Portfolio Pulse from Surbhi Jain

February 22, 2024 | 6:54 pm

AXSUSD

Luke Barwikowski, founder of Pixels, discusses the company's plan to revolutionize Web3 gaming, emphasizing seamless onboarding, strategic use of the Ronin Network, and community engagement through airdrops. The partnership with Binance Launchpool significantly increased daily active users, highlighting the importance of credible partnerships. Barwikowski envisions a future where Pixels leverages Web3 to enhance gaming and content monetization, with plans for multilingual support and the introduction of dungeons feature.

Portfolio Pulse from Jose Rodrigo Safdiye

February 22, 2024 | 5:33 pm

MRK

MRNA

MYNZ

PFE

SGEN

Pfizer Inc (PFE) acquired Seagen Inc. (SGEN) to boost its oncology portfolio, aiming to add $25 billion to its annual revenue by the end of the decade. Moderna Inc (MRNA) and Merck & Co Inc (MRK) reported positive trial data for their melanoma cancer vaccine, showing significant reduction in death and recurrence risk. Mainz Biomed N.V. (MYNZ) announced a partnership for its colorectal cancer screening test, ColoAlert, with Europe's leading online medical retailer, aiming to improve early cancer detection.

Portfolio Pulse from Upwallstreet

February 22, 2024 | 5:21 pm

ADI

INTC

MSFT

NVDA

TSM

Taiwan Semiconductor Manufacturing Co (TSM) stock rose due to Nvidia's positive quarterly results, indicating a sustained interest in AI. Nvidia reported a significant year-over-year revenue increase and provided an optimistic revenue forecast. Additionally, Analog Devices (ADI) announced a partnership with TSMC for long-term wafer capacity, involving TSMC's subsidiary JASM in Japan. This collaboration aims to enhance ADI's supply capabilities for critical technology. The semiconductor industry also sees movements from Microsoft and Intel in chip manufacturing.

Portfolio Pulse from Anusuya Lahiri

February 22, 2024 | 5:03 pm

CNNE

Cannae Holdings, Inc. (CNNE) shares have seen an uptick following the announcement of its fourth-quarter financial results and a strategic partnership with JANA Partners. This development indicates a positive reception from the market, likely due to the potential growth and value addition from the partnership with JANA Partners, alongside strong Q4 performance.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 4:06 pm

RTNTF

Rio Tinto (OTCPK: RTNTF) has received board approval for the $20 billion Simandou iron ore project in Guinea, set to be the world's largest mining project. The project, aiming for a 2025 production start, is expected to add 5% to the global seaborne supply and create 45,000 jobs. It involves collaboration with the Guinean government, China's Chalco Iron Ore Holdings, and other partners. The project emphasizes environmentally friendly steelmaking and has already seen $11.6 billion invested by Rio Tinto.

Portfolio Pulse from Stjepan Kalinic

February 22, 2024 | 3:48 pm

CCHWF

MMNFF

TSNDF

BJ Carretta, a marketing and media veteran with a diverse career spanning TV, sports, music, and now cannabis, is currently the senior VP at TerrAscend Corp. He will be sharing insights on cannabis brand building at the Benzinga Cannabis Market Spotlight: California. Carretta's journey includes significant roles at NBC Universal Television Distribution, NBC Sports Group, Fender Musical Instruments Corporation, MedMen Enterprises Inc., and The Cannabist Company Holdings Inc. His expertise in marketing and brand development is recognized in the cannabis industry.

Portfolio Pulse from Jelena Martinovic

February 22, 2024 | 3:39 pm

NKLA

RIVN

Nikola Corp reported Q4 earnings with sales of $11.53 million, missing the consensus of $12.64 million but showing growth from $5.46 million a year ago. The adjusted EPS loss of $(0.11) beat the consensus loss of $(0.13). Production slowed with 42 trucks produced versus 133 a year ago, but shipments increased to 35 from 20. Nikola secured 225 additional voucher requests for hydrogen fuel cell electric trucks and opened its first HYLA modular refueling station. The company's gross loss widened, but adjusted EBITDA loss improved. Nikola's cash position remains strong with $464.7 million in cash and equivalents. Leadership changes were noted with Stephen Girsky becoming the acting CFO. Nikola's stock has lost 14% YTD, outperforming Rivian's 44% loss. NKLA shares dropped 0.78% to $0.6972.

Portfolio Pulse from Anusuya Lahiri

February 22, 2024 | 3:36 pm