Streetbeat News

Partnerships

PINS

Pinterest, Inc. (NYSE:PINS) received a 30% price target increase from KeyBanc Capital Markets, raising it from $37 to $48, ahead of its Q4 earnings release. Analyst Justin Patterson maintained an Overweight rating, citing expected solid Q4 performance with 14% revenue growth and potential for 15-17% future growth. Factors contributing to the positive outlook include a strong ad market, product innovation, and partnerships. Patterson also anticipates EBITDA to be 4% above consensus at $370 million, driven by recent expense efficiencies.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 10:55 am

CAT

MCD

SG

TSN

VALN

Ahead of Monday's trading session, notable stocks include Caterpillar Inc. (CAT), Sweetgreen (SG), McDonald's Corporation (MCD), Valneva SE (VALN), and Tyson Foods, Inc. (TSN). Caterpillar is expected to report earnings of $4.75 per share on $17.11 billion revenue. Sweetgreen announced Rossann Williams as the new COO. McDonald's is anticipated to earn $2.82 per share on $6.45 billion revenue. Valneva sold an FDA Priority Review Voucher for $103 million. Tyson Foods is expected to report earnings of 41 cents per share on $13.27 billion revenue.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 7:49 am

AAPL

MOMO

Hello Group Inc. (NASDAQ:MOMO) has launched inSpaze, a native immersive social app for Apple Vision Pro in the U.S. The app, designed for visionOS, offers 3D interaction, Spatial Audio, and social features like real-time translation and social games. It's available for Apple Vision Pro users and can also be used on iPhone via the App Store.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 7:20 am

ICLN

TSLA

Short-seller Jim Chanos criticized Tesla CEO Elon Musk's proposal for a carbon tax as a measure against climate change, labeling Musk as 'Subsidy King' and 'new darling of the Right'. Musk advocates for a carbon tax to combat climate change, citing a $5.3 trillion annual carbon subsidy per the IMF. Chanos, known for his bets against Tesla and Enron, recently closed his hedge fund. The debate highlights differing views on addressing climate change and the role of electric vehicles and renewable energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 6:24 am

WBA

Walgreens has announced a partnership with colleges of pharmacy to address key issues facing the pharmacy profession, such as staffing challenges and declining pharmacy school enrollment. This collaboration aims to advance the profession and ensure a steady pipeline of qualified pharmacists.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 6:03 am

CAT

Caterpillar Inc. (NYSE:CAT) is anticipated to report higher Q4 earnings on Feb. 5, 2024, with expected earnings of $4.75 per share and revenue of $17.11 billion, up from the previous year. The company has also signed an agreement with CRH for zero-exhaust emissions solutions deployment. Shares rose 2.4% recently. Analysts from Stifel, Tigress Financial, Goldman Sachs, JP Morgan, and TD Cowen have provided various ratings and price target adjustments.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 5:51 am

SPHR

Sphere Entertainment Co. (NYSE:SPHR) and the NFL have announced a collaboration to display custom Super Bowl LVIII content on Sphere's Exosphere in Las Vegas. This content, created by Sphere Studios, will be featured throughout Super Bowl Week and during the game's broadcast on CBS and Paramount+. The Exosphere will showcase a variety of Super Bowl-themed visuals, including a countdown clock, welcome visuals, key graphics of the teams, and all 57 Super Bowl rings. Additionally, Sphere's interior will be highlighted in CBS Sports' broadcast with custom videos. The collaboration aims to leverage Sphere's unique digital canvas to enhance the Super Bowl experience in Las Vegas.

Portfolio Pulse from Benzinga Newsdesk

February 04, 2024 | 6:40 pm

BLK

JPM

Financial experts including Bill Gross, BlackRock, and Jamie Dimon provided insights on the U.S. economy, discussing a looming debt crisis, bullish views on U.S. stocks, and potential unemployment rate increases. Gross compared the U.S.'s $34 trillion debt to climate change impacts, predicting inflation due to annual deficits. BlackRock upgraded U.S. stocks to 'overweight', anticipating an economic soft landing and interest rate cuts. Mizuho's Dominic Konstam projected unemployment could double by year-end. Peter Schiff criticized the Federal Reserve's inflation policy, and Dimon warned of a global market 'rebellion' due to U.S. debt levels.

Portfolio Pulse from Benzinga Neuro

February 04, 2024 | 11:08 am

WMG

Warner Music Group (WMG) and Megan Thee Stallion have entered into a unique agreement where Megan retains full ownership of her masters and publishing. She will release music through Hot Girl Productions and work with WMG and its international affiliates, maintaining full creative control and the option to bring artists signed to her imprint into the WMG ecosystem.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 9:52 pm

TCNNF

A Florida bill proposing to cap delta-9 THC levels in cannabis products gains momentum, with amendments setting limits at 30% for pre-rolls and whole buds, and 60% for processed substances. The bill, backed by Trulieve Cannabis Corp., progresses as New York faces a lawsuit from women-owned social equity cannabis companies over the licensing process. Meanwhile, Virginia considers treating cannabis like alcohol, proposing a regulated marketplace to start in 2025.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 8:44 pm