Streetbeat News

Products Services

AAPL

AMZN

MSFT

Amazon.com Inc. (NASDAQ:AMZN) plans to invest $9 billion in Singapore to expand its cloud computing infrastructure, doubling its current investment in the region. This move is part of a broader trend among tech giants like Microsoft Corp. (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL) to increase their presence in Southeast Asia, diversifying away from China due to geopolitical tensions. The investment aims to meet the growing demand for cloud services and accelerate AI adoption. Amazon's after-hours trading showed a slight decrease following the announcement.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 5:22 am

BTCUSD

Transaction fees on the Bitcoin network have significantly increased, now constituting over 7% of miners' total earnings, a sharp rise from 1% two years ago. This increase is attributed to the development of new token protocols like Ordinals and Runes, enhancing Bitcoin's utility and leading to more transactions. The rise in transaction fees is crucial for offsetting the impact of decreasing block rewards from halving events, ensuring a more sustainable income source for miners. Bitcoin's price saw a slight decline of 1.16% in the last 24 hours, trading at $63,264.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 4:53 am

BA

Boeing Co's (NYSE:BA) first crewed test flight of the Starliner space capsule has been postponed due to a technical issue, marking another setback in its space program. The delay follows a series of challenges, including a parachute failure in 2019 and software glitches in 2020, despite successful milestones like the Starliner's docking with the ISS in 2022. Boeing had aimed for a crewed flight by March 2023, with support from SpaceX's Elon Musk on parachute systems.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 4:26 am

MSFT

NVDA

Jim Cramer, host of CNBC's 'Mad Money', suggests the market sell-off, especially in Big Tech, may be over, highlighting the recovery of NVIDIA and Microsoft. Despite concerns over the Federal Reserve's interest rate decisions, NVIDIA's new graphics chip and Microsoft's strong earnings and cloud business success have contributed to their rebound. Cramer's optimism is based on the recent rally and the high demand for NVIDIA's AI infrastructure, alongside Microsoft's significant AI investments.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 3:15 am

BTCUSD

DOGEUSD

Elon Musk, CEO of Tesla and SpaceX, met with Argentina's President Javier Milei, a known Bitcoin supporter, for the second time in less than a month at the Milken Institute Global Conference. Musk recommended investing in Argentina and highlighted their shared pro-cryptocurrency stance. Both have previously expressed support for cryptocurrencies like Bitcoin and Dogecoin. The meeting could hint at future collaborations in the cryptocurrency field. Bitcoin and Dogecoin experienced slight price movements, with Bitcoin dropping 0.6% and Dogecoin plunging 4.4%.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 2:56 am

PLTR

Palantir Technologies Inc. CEO Alex Karp, in the first-quarter 2024 earnings call, claimed that Palantir has no competitors in the U.S. commercial and government sectors, attributing this to their unique technologies like the ontology knowledge management system, Foundry, and Apollo. Despite his confidence and the company's financial growth, Palantir's stock dropped 8.37% in after-hours trading.

Portfolio Pulse from Kaustubh Bagalkote

May 07, 2024 | 2:00 am

BTCUSD

Bitcoin ETFs have not sparked the expected retail investor enthusiasm, despite institutional interest. Social activity around Bitcoin has decreased since the ETF approval in January, with a significant drop in engagements and content creator traction. Despite Bitcoin's price reaching an all-time high of over $73,000 in March, search interest and social activity have declined. The cryptocurrency market, including Bitcoin, faced a tough month with a more than 15% drop in April, suggesting a cautious approach from retail investors.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 1:52 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and SpaceX, discussed various topics at MI Global, including immigration, Starlink's impact on GDP, Mars colonization, the absence of AI in space exploration, and personal insights on joy and concerns. The conversation, held with Mike Milken of the Milken Institute, was live-streamed on X (formerly Twitter). Musk emphasized the importance of secure but expedited legal immigration, Starlink's potential to enhance global productivity, the goal of making life multi-planetary to safeguard civilization, and shared personal reflections on what brings him joy and keeps him up at night.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 1:51 am

RIVN

Rivian Automotive is set to report its Q1 financial results, with analysts expecting $1.16 billion in revenue and a loss of $1.17 per share. Despite a recent price target cut by Needham due to questions on long-term EV demand, Rivian's R1S model shows promising used vehicle pricing. The company's unveiling of the R2 and R3 models could expand its total addressable market, though the R2 is not seen as an immediate catalyst. Analyst ratings vary, with price targets ranging from $9 to $23. Key focuses include production/delivery updates and cost efficiency metrics. Rivian's stock is currently down 56% YTD.

Portfolio Pulse from Chris Katje

May 06, 2024 | 9:32 pm

RKLB

Rocket Lab USA Inc. (NASDAQ:RKLB) reported Q1 financial results with a per-share loss of 9 cents, beating analyst expectations by 10% but missing sales estimates with $92.767 million versus the expected $94.995 million. The company highlighted a $1 billion backlog, four successful Electron missions, and the initiation of a $515 million contract with the Space Development Agency. Rocket Lab also announced the completion of its Archimedes engine's first full assembly, a key component for its Neutron vehicle. The company anticipates Q2 revenue between $105 million and $110 million.

Portfolio Pulse from Erica Kollmann

May 06, 2024 | 9:15 pm