Streetbeat News

Revenues

ROAD

Construction Partners, Inc. (CPI) has agreed to acquire Asphalt Inc., LLC, known as Lone Star Paving, for $654 million in cash and 3 million shares of Class A Common Stock. This acquisition is expected to be immediately accretive to earnings and contribute significantly to CPI's revenue and EBITDA by fiscal 2025. The transaction is anticipated to close in the first quarter of CPI's 2025 fiscal year.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 10:05 am

SDVKY

Sandvik's Q3 order intake was flat year-on-year but grew 4% at constant exchange rates, with 2% organic growth. Revenues declined by 4%, but grew 1% at fixed rates. Mining demand remains strong, while infrastructure and cutting tools face challenges.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 9:40 am

HON

Honeywell's 33rd annual Global Business Aviation Outlook projects a demand for 8,500 new business jets valued at $280 billion over the next decade, with 2025 deliveries expected to be 12% higher than 2024. The demand is significantly above pre-pandemic levels, with large jets accounting for two-thirds of expenditures.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:13 am

BAC

Bank of America has extended its guaranteed foreign exchange rates for cross-border payments to one year, enhancing risk management for clients. This move follows growth in cross-border payments and the bank being named the world's best for FX payments.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 7:08 am

GOOGL

META

Perplexity, an AI startup backed by Jeff Bezos, is seeking to raise its valuation to $8 billion in a new funding round, aiming to secure $500 million. The company, which has seen rapid growth, is challenging Google's dominance in digital ads and is in talks with major brands like Nike and Marriott.

Portfolio Pulse from Benzinga Neuro

October 21, 2024 | 2:26 am

LPG

Little Green Pharma, an Australian cannabis producer, reported record revenue of AU$10.2 million for the quarter, with significant growth in European sales, particularly in France. The company anticipates further growth as European markets, like France, move towards legalizing medical marijuana.

Portfolio Pulse from Nina Zdinjak

October 21, 2024 | 2:00 am

ASML

CNC

CVS

ELV

ERIE

KLAC

LRCX

MOH

NIO

PDD

Several large-cap stocks experienced significant declines last week, including NIO, ASML, and CVS Health. Factors such as China's export data, earnings reports, and guidance revisions contributed to these losses.

Portfolio Pulse from Lekha Gupta

October 20, 2024 | 8:04 pm

AAPL

AMD

META

MSFT

NVDA

TSM

The Biden administration is considering restrictions on chip sales from NVIDIA and AMD to the Middle East. Apple has a secret deal with BYD for EV batteries and is expanding its payment offerings. Microsoft settles an antitrust lawsuit and expands cloud gaming. Meta faces layoffs and legal challenges. TSMC starts manufacturing A16 chips for Apple in the US.

Portfolio Pulse from Lekha Gupta

October 20, 2024 | 5:45 pm

IVV

SPY

Economist David Rosenberg, known for predicting the 2008 crash, warns of a 'mega-bubble' in the stock market, suggesting the S&P 500 is overvalued by at least 25%. He advises against chasing momentum and highlights economic weaknesses. Investors can track the S&P 500 through ETFs like SPDR S&P 500 (SPY) and iShares Core S&P 500 ETF (IVV).

Portfolio Pulse from Erica Kollmann

October 20, 2024 | 5:00 pm

NVDA

NVDL

NVDU

Nvidia's stock has surged over 233% in the past year, reaching a market cap of over $3 trillion. Experts predict further growth, with some expecting the stock to double in the coming years due to strong demand for GPU chips and AI investments. Analysts have set various price targets, with Bofa Securities raising theirs to $190. ETFs tracking Nvidia, such as NVDL and NVDU, have also seen significant gains.

Portfolio Pulse from Anan Ashraf

October 20, 2024 | 5:22 am