Streetbeat News

Stock Prices

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) has completed its offering of 0.875% convertible senior notes due 2031, raising $603.75 million. The company used $592.3 million of the proceeds to purchase approximately 9,245 bitcoins at an average price of $67,382 each. As of March 18, MicroStrategy holds about 214,246 bitcoins, acquired at an average price of $35,160 per bitcoin. The stock is trading lower amid a pullback in Bitcoin prices, with shares down 11.7% at $1,327.53. Predictions for MSTR's stock price in 2030 are challenging but based on a 5-year annualized performance of 58.63%, it could potentially trade at $12,850.88.

Portfolio Pulse from Erica Kollmann

March 19, 2024 | 3:43 pm

STNE

StoneCo Ltd. (NASDAQ:STNE) shares fell after reporting mixed Q4 financial results, with earnings per share beating estimates but sales missing expectations. The company saw a 20.1% year-over-year growth, driven by a 24.4% increase in financial services platform revenues. Despite the growth, shares dropped due to the sales miss and high trading volume. StoneCo's stock has been volatile, with a significant increase over the past year but recent losses due to overbought conditions indicated by an RSI of 94.76.

Portfolio Pulse from Erica Kollmann

March 19, 2024 | 3:39 pm

KO

PEP

PepsiCo Inc. (NASDAQ:PEP) has won a 10-year deal to become the exclusive beverage supplier for Subway restaurants across the U.S. starting January 1, 2025. This agreement includes a wide range of PepsiCo's beverages, such as Pepsi, MTN DEW, and Gatorade, and marks a significant shift as it replaces The Coca-Cola Company (NYSE:KO) as Subway's primary drink provider. The transition will see Coca-Cola products phased out from Subway locations beginning January 2025. This deal also strengthens PepsiCo's existing relationship with Subway, including snack provision through its Frito-Lay division until 2030.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 3:35 pm

JWN

Nordstrom Inc (NYSE:JWN) shares surged following a report that the founding family is considering taking the company private, with assistance from Morgan Stanley and Centerview Partners to explore potential deals with private equity firms. This news comes six years after a previous attempt. The stock was halted then rose 11.2% to $18.98. The 200-day moving average of JWN is $17.61, indicating a bullish signal for investors using technical analysis.

Portfolio Pulse from Adam Eckert

March 19, 2024 | 3:35 pm

FSR

Fisker Inc (NYSE:FSR) shares dropped 9.5% to $0.13 after announcing a financing commitment of up to $150 million and plans to halt production for six weeks to balance inventory. The company is also in talks with a major automaker for potential collaboration on EV platforms and manufacturing in the US. Fisker delivered approximately 1,300 vehicles globally in 2024 and has around 4,700 vehicles in inventory.

Portfolio Pulse from Henry Khederian

March 19, 2024 | 3:33 pm

FSR

Fisker's stock is trading lower due to ongoing weakness following the announcement of $150 million in financing and a six-week production pause.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 3:33 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading lower amid a pullback in Bitcoin prices. Despite a 25% increase year-to-date, COIN is affected by Bitcoin's retreat from all-time highs. The company completed a $1.265 billion convertible senior notes offering and received a price target upgrade from JP Morgan. FY23 revenue growth was -2.67%, influenced by macroeconomic factors. Economic conditions and sector performance are crucial for COIN's future prospects, with shares currently down 6.5% at $224.01.

Portfolio Pulse from Erica Kollmann

March 19, 2024 | 3:32 pm

CME

$1000 invested in CME Gr (NASDAQ:CME) 20 years ago would now be worth $11,700.70, showcasing an average annual return of 12.99% and outperforming the market by 5.04% on an annualized basis. CME Gr currently has a market capitalization of $79.23 billion.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 3:31 pm

CRSP

CRISPR Therapeutics (NASDAQ:CRSP) has delivered an average annual return of 15.84% over the past 5 years, outperforming the market by 2.9%. A $1000 investment in CRSP 5 years ago would be worth $2,003.58 today. The company's market capitalization stands at $5.68 billion.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 3:31 pm

ETHUSD

LDOUSD

Fidelity has updated its Ethereum ETF application to include staking, aiming to allow investors to earn additional income. Despite a brief price surge for Lido DAO following the announcement, the broader Ether ecosystem, including Lido DAO, has seen a downturn. Fidelity's application is among eight seeking SEC approval, with a decision deadline set for May 23. Analysts, including Bloomberg's James Seyffart, are skeptical about approval due to regulatory challenges.

Portfolio Pulse from Murtuza Merchant

March 19, 2024 | 3:31 pm