Streetbeat News

Partnerships

AVNW

GLT

HOLO

SNAP

TCS

TGI

YUM

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Yum! Brands reported disappointing Q4 results, missing sales and EPS estimates. MicroCloud Hologram, Glatfelter Corporation, and Aviat Networks saw significant stock price increases, while Triumph Group, The Container Store Group, and Snap Inc. experienced notable declines. Oil prices rose, while gold remained mostly flat.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 7:32 pm

MSFT

Phil Spencer, head of Xbox, announced a business update event for next week to share details about Xbox's future vision, amidst rumors of Xbox titles being ported to other platforms like PlayStation 5. This move suggests a shift towards multi-platform gaming and a device-agnostic approach, potentially impacting Microsoft Corp.'s strategy by emphasizing accessibility and revenue diversification.

Portfolio Pulse from Franca Quarneti

February 07, 2024 | 6:08 pm

FAZE

GAME

FaZe Holdings Inc. (NASDAQ:FAZE) shares are trading lower despite announcing the continuation of 'FaZe Fridays' through 2024, a live event series for gamers with over $1 million in cash prizes. Additionally, a special meeting for shareholders is scheduled on Feb. 16 to vote on a merger with GameSquare Holdings, Inc. (NASDAQ:GAME).

Portfolio Pulse from Erica Kollmann

February 07, 2024 | 6:06 pm

AMZN

GOOGL

MSFT

Alphabet Inc's Google Cloud is collaborating with Singapore to establish the city-state as a global AI hub, showcasing generative AI solutions at the Explore AI summit. Despite this, Google Cloud faces slowing growth, with analysts predicting further deceleration in revenue growth and potential negative earnings revisions due to high operating expenses. Amazon Web Services leads the U.S. cloud market, followed by Microsoft's Azure and Google Cloud Platform.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:46 pm

AMZN

BABA

GOOG

MSFT

Microsoft Corp is in talks with the Cloud Infrastructure Services Providers in Europe (CISPE), including Amazon.Com Inc and 26 smaller cloud providers, to address a complaint to the EU about its cloud computing licensing practices. The aim is to avoid a potential EU antitrust investigation that could lead to fines and operational changes. The complaint, initiated by CISPE, accuses Microsoft of contractual terms that harm the European cloud computing market. Notably, licensing changes made by Microsoft excluded major competitors like Amazon, Alphabet Inc's Google, Alibaba Group, and Microsoft's own services. The European Commission has received multiple complaints against Microsoft, focusing on its Azure platform and investments in OpenAI, as well as issues with Microsoft Teams.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:43 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

FCX

Freeport-McMoRan (NYSE:FCX) announced Kathleen L. Quirk as its new CEO, effective June 11. Quirk, with the company since 1989 and previously CFO and President, succeeds Richard Adkerson, who remains Chairman. The leadership transition is part of a strategic plan, with Quirk's extensive experience expected to continue Freeport's successful trajectory in the mining industry. The company anticipates $5.8 billion in operating cash flows in 2024, with significant sales volumes of copper, gold, and molybdenum.

Portfolio Pulse from Stjepan Kalinic

February 07, 2024 | 5:23 pm

HLT

Hilton Worldwide Holdings Inc (NYSE:HLT) reported a 6.8% year-on-year sales growth in Q4 fiscal 2023, reaching $2.61 billion, in line with consensus. Adjusted EPS was $1.68, surpassing the consensus of $1.57. The company saw a system-wide occupancy rate of 69%, with notable room growth and a development pipeline increase of 11% year-on-year. Total expenses rose by 13.9%, and operating income decreased by 20.6%. Hilton also announced a strategic partnership with Small Luxury Hotels of the World, integrating unique luxury hotels into its offerings. The company provided Q1 and full-year 2024 outlooks, expecting adjusted EPS and adjusted EBITDA growth.

Portfolio Pulse from Akanksha Bakshi

February 07, 2024 | 4:19 pm

DIS

FOX

WBD

Disney, Warner Bros. Discovery, and Fox Corporation are forming a sports streaming joint venture to offer a comprehensive lineup of sports content, including ESPN and other major channels. This move aims to recapture revenues lost to cord-cutting by leveraging their control of approximately 85% of U.S. sports rights. Despite Disney's streaming services reporting a $1.6 billion loss in the first nine months of 2023, this partnership is seen as a strategic effort to improve profitability and market position. The platform is expected to launch in fall 2024, pending definitive agreements.

Portfolio Pulse from Chris Katje

February 07, 2024 | 4:18 pm

VCNX

Vaccinex Inc (NASDAQ:VCNX) shares surged 15% to $0.69 after announcing a $3.7 million private placement with significant participation from new and existing investors, including company leadership. The deal involves selling shares and warrants, expected to fund the SIGNAL-AD trial until Q3 2024. VCNX's 52-week range is $0.51 to $12.35.

Portfolio Pulse from Henry Khederian

February 07, 2024 | 4:09 pm