Streetbeat News

Products Services

CR

Crane Company (NYSE:CR) has acquired Vian Enterprises, Inc. for approximately $103 million, aiming to enhance its aerospace and defense offerings. Vian, known for its lubrication pumps and system components, reported trailing 12-month sales of $33 million and adjusted EBITDA of $8 million. The acquisition is expected to be financed through Crane's revolving credit facility and is anticipated to be immediately accretive to its Aerospace & Electronics segment EBITDA margins. Crane will discuss the acquisition further in its Q4 FY23 results on January 29, 2024. As of September 30, 2023, Crane had a cash balance of $274 million and total debt of $250 million. CR shares dropped by 2.75% to $113.70.

Portfolio Pulse from Lekha Gupta

January 04, 2024 | 11:13 am

SG

Sweetgreen has initiated a marketing campaign titled 'New Year, Full You', which features a new twist on a popular menu item. This campaign is likely aimed at attracting customers and boosting sales by leveraging the common New Year's resolution trend where individuals aim to eat healthier.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:06 am

TSLA

Driving schools in Norway are banning new Tesla vehicles, particularly the Model 3, as instruction cars due to concerns over the unconventional steering wheel design. The design, which replaces the traditional indicator lever with buttons on the steering wheel, has been criticized for causing loss of focus and direction, particularly in roundabouts. This has raised safety concerns among driving instructors and the National Roads Administration, potentially affecting Tesla's reputation and complicating driving tests for students using these vehicles.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 11:06 am

FSLR

First Solar, Inc. has signed a 15-year Power Purchase Agreement (PPA) with Cleantech Solar, a leading provider of renewable energy solutions in India and Southeast Asia. This agreement will enable First Solar to supply solar power to Cleantech Solar's customers in the region, reinforcing First Solar's presence and commitment to the renewable energy market in Asia.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:04 am

WISA

WiSA Technologies has successfully demonstrated its WiSA E software across various SOCs, Wi-Fi chips, and a broad spectrum of consumer electronics devices, showcasing its versatility and compatibility in enhancing audio experiences in different hardware environments.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:03 am

GS

Goldman Sachs Asset Management has closed its West Street Life Sciences I fund, raising $650 million, surpassing its target. The fund, which is the first in the firm's Life Sciences Investing strategy, will focus on growth-oriented private equity investments in early to mid-stage therapeutic companies, life sciences tools, and diagnostics companies. It has already committed approximately $90 million across five portfolio companies. Goldman Sachs Asset Management oversees more than $2.6 trillion in assets as of September 30, 2023. GS shares saw a slight increase of 0.32% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 04, 2024 | 10:51 am

CELZ

Creative Medical Technologies has filed a U.S. patent application (#20240002792) for a method to repair ovarian damage and reduce inflammation by using monocytic-granulocytic progenitors with immune modulatory activities. This could represent a significant advancement in medical treatments related to ovarian health.

Portfolio Pulse from Charles Gross

January 04, 2024 | 10:50 am

AMD

KeyBanc Capital Markets analyst John Vinh maintained an Outperform rating on AMD shares and increased the price target from $140 to $170, indicating over 25% upside potential. The optimism is based on AMD's positioning to capitalize on the 'genAI' market, expected to be worth $150 billion by 2027. Vinh predicts AMD could take a 10%-15% market share, equating to a $20 billion revenue opportunity. He also expects AMD to continue gaining server market share from Intel and sees gross margin improvement throughout 2024. AMD shares rose 0.88% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

January 04, 2024 | 10:34 am

FSR

Fisker Inc. has decided to abandon the direct-sales model, similar to that of Tesla, and instead will utilize traditional dealerships to sell its electric vehicles. This strategic shift is aimed at leveraging the established infrastructure and customer service benefits that dealerships offer, which Fisker believes will be more advantageous for its business model and customer experience.

Portfolio Pulse from Charles Gross

January 04, 2024 | 10:31 am

F

TSLA

Ford Motor Co. (NYSE:F) has reportedly adjusted prices for its 2024 F-150 Lightning EV pickup trucks, increasing prices for some models by $2,000 to $10,000 and reducing prices for premium trims by up to $10,000. The price changes were confirmed with the company following a report by Detroit Free Press. The 2023 model year prices remain unchanged. The price cuts for the Platinum trims may be due to their ineligibility for the federal tax subsidy. A new variant, the Flash, with an estimated EPA range of 320 miles, is priced at $73,495. Meanwhile, Tesla, Inc. (NASDAQ:TSLA) is set to enter the market with its Cybertruck, with prices ranging from $61,000 to $99,000, and the vehicle is expected to qualify for the federal tax subsidy. Ford's stock ended down 3.70% at $11.71 on Wednesday.

Portfolio Pulse from Shanthi Rexaline

January 04, 2024 | 10:05 am