Streetbeat News

Partnerships

AMZN

DDOG

GOOG

GOOGL

MSFT

Analysts from Morgan Stanley, Truist Securities, and DA Davidson provided optimistic outlooks for Datadog, Inc. (DDOG), citing strong Q1 2024 performance, product innovation, and AI-driven growth potential. Price targets range from $115 to $155. The company's alignment with cloud hyperscalers like Microsoft Azure, Alphabet's GCP, and Amazon AWS is noted as a key growth driver, with AI and new product adoption expected to sustain and accelerate growth.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 6:26 pm

PUBM

RBLX

Roblox Corp. (NYSE:RBLX) is set to report its Q1 financial results on May 9, 2024, with analysts expecting bookings of $922.98 million and a loss of 53 cents per share. The company has surpassed bookings estimates in four of the last five quarters and earnings per share estimates in three of the past five quarters. Guidance for Q1 bookings is between $910 million and $940 million, with full-year bookings expected to be between $4.14 billion and $4.28 billion. JPMorgan upgraded Roblox to Overweight, raising the price target to $48, citing consistent bookings growth and potential in advertising, particularly through a partnership with Walmart for virtual e-commerce and efforts to boost video ad sales with PubMatic Inc (NASDAQ:PUBM). Analysts are optimistic, with several issuing Buy ratings and price targets ranging from $50 to $55.

Portfolio Pulse from Chris Katje

May 08, 2024 | 5:47 pm

BYND

MCD

Beyond Meat has re-issued a press release announcing the launch of McPlant Famous Meals in McDonald's Germany, featuring a menu with McPlant Burger and McPlant Nuggets. This collaboration highlights the expansion of plant-based options in McDonald's menu, potentially increasing Beyond Meat's visibility and market share in the fast-food industry.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:11 pm

FNCL

IYG

JPM

WFC

ZION

Mastercard Inc is collaborating with major U.S. banks and financial institutions to test a shared-ledger technology for the unified settlement of tokenized assets, aiming to simplify and speed up transactions while reducing errors and fraud. The technology supports commercial bank money, wholesale central bank money, and securities like investment-grade debt on a single system. Participants include Citigroup Inc, JPMorgan Chase & Co, US Bancorp, Wells Fargo & Co, Visa Inc, Swift, TD Bank NA, Zions Bancorp, with contributions from Bank of New York Mellon Corp and the International Swaps and Derivatives Association. Mastercard's stock gained 18% in the last 12 months, and investors can also gain exposure through IShares U.S. Financial Services ETF and Fidelity MSCI Financials Index ETF.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 5:05 pm

BYND

MCD

A post on Beyond Meat's website announcing a Beyond Burger for McDonald's was removed after briefly appearing. The initial announcement had indicated a collaboration for the McPlant famous meals in Germany.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 5:04 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares surged over 50% in the past five days, attributed to the announcement of a new commercial dealer, National Auto Fleet Group, and a service agreement between its subsidiary Bollinger Motors and Amerit Fleet Solutions. The stock experienced heavy trading volume, with over 13.5 million shares traded, significantly above its 100-day average. The high short interest in MULN shares also contributed to the stock's volatility.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 4:57 pm

BYND

MCD

McDonald's Germany has introduced McPlant Famous Meals in collaboration with Beyond Meat, marking a significant expansion of plant-based options in its menu. This move is part of a broader trend towards offering more sustainable and vegetarian-friendly choices to customers.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 4:47 pm

AMZN

JBHT

RIVN

Amazon.Com Inc (NASDAQ:AMZN) has launched its first electric big rigs at the Los Angeles/Long Beach port complex, marking a significant step towards its goal of net-zero carbon emissions by 2040. The company is using eight Volvo electric semi trucks, with plans to operate twelve by year's end. This initiative is part of Amazon's broader vehicle electrification effort, which includes over 13,500 Rivian Automotive, Inc (NASDAQ:RIVN) electric cargo delivery vans nationwide. J.B. Hunt Transport Services, Inc (NASDAQ:JBHT) is providing drivers for these electric trucks. The move aligns with regulatory requirements for zero-emission drayage trucks by 2035 and highlights the challenges of transitioning to electric vehicles, including the need for robust charging infrastructure.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 4:39 pm

EIS

ITA

The U.S. has temporarily halted a shipment of high-payload munitions to Israel, reflecting concerns over potential civilian casualties in Rafah, Gaza. The decision underscores discord between the U.S. and Israel, with the Biden administration conditioning aid on efforts to limit civilian harm. The shipment included 3,500 bombs intended to enhance strike precision, featuring technology from Boeing Co. (NYSE:BA). U.S. defense stocks, including the U.S. Aerospace & Defense ETF (NYSE:ITA), rose following the announcement, while Israeli-related stocks, tracked by the iShares MSCI Israel ETF (NYSE:EIS), also saw gains.

Portfolio Pulse from Piero Cingari

May 08, 2024 | 4:36 pm

LAZR

MOON

ROBT

TSLA

Tesla Inc. has become Luminar Technologies, Inc.'s largest lidar customer, contradicting CEO Elon Musk's past criticism of lidar technology. In Q1 2024, Tesla contributed over 10% of Luminar's revenue, totaling more than $2 million, despite Luminar's overall revenue decreasing by 5% from the previous quarter. This partnership was highlighted in Luminar's earnings report, which also noted a 45% year-over-year revenue increase and a net loss reduction. Luminar announced a 20% workforce reduction and plans to outsource lidar production. Tesla's use of lidar, despite Musk's skepticism, aligns with its anticipated robotaxi reveal. Luminar's stock has dropped over 74% in the last 12 months, but it is featured in the Direxion Moonshot Innovators ETF and First Trust Nasdaq Artificial Intelligence And Robotics ETF.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 4:28 pm