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HAYN

Haynes International, Inc. (HAYN) has agreed to be acquired by North American Stainless, a subsidiary of Acerinox, for $61.00 per share in an all-cash deal valued at approximately $970 million. This acquisition price represents a 22% premium over Haynes' six-month volume-weighted average share price as of February 2, 2024. Acerinox plans to invest an additional $200 million in its U.S. operations, including $170 million into Haynes' operations.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 8:04 am

AAPL

Wedbush analyst Daniel Ives hailed Apple Inc.'s Vision Pro as a 'potential game changer,' noting strong customer interest and early success. Despite a high price point of $3,500, the product has seen a very strong reception, leading Wedbush to maintain a bullish outlook on Apple, with a $250 price target. Ives anticipates the Vision Pro will mark Apple's initial foray into AI, with future models evolving into more accessible form factors and pricing, and a separate AI App Store announcement expected at WWDC this summer.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 7:20 am

ARBK

Argo Blockchain plc (NASDAQ:ARBK) reported a 20% decrease in daily Bitcoin production for January 2024, primarily due to a 16% drop in Bitcoin-denominated hashprice and weather-related curtailments in Quebec and Texas. The harsh weather, especially during Winter Storm Heather, led to elevated power prices and operational curtailments at the Helios facility. Despite these challenges, the company generated $5.3 million in mining revenue, a 19% decrease from December 2023. Argo Blockchain held digital assets worth the equivalent of 18 Bitcoin as of January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 7:13 am

MIELF

MIELY

Mitsubishi Electric reported a 1% YoY increase in 3Q24 revenue to ¥1.243T and a 2% YoY increase in net profit to ¥65.8B, achieving record highs in revenue and operating profit. The automotive equipment business saw significant improvement, offsetting market fluctuations in other sectors.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 7:06 am

BA

SPR

Boeing Co (NYSE:BA) has discovered new quality defects in its 737 MAX airplanes, specifically two mis-drilled holes on the fuselages of around 50 undelivered planes, reported by supplier Spirit AeroSystems (NYSE:SPR). This issue may delay near-term deliveries of the 737 MAX, although the safety of the planes is reportedly not compromised. Boeing plans to conduct additional work on the affected aircraft. This comes amid ongoing challenges for Boeing's 737 MAX planes, including intense scrutiny following a series of safety incidents and a recent production freeze ordered by the FAA.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 6:44 am

LVMHF

LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMHF) has launched a new watch division aiming to capture a larger share of the global luxury watch market, projected to reach $37 billion by 2032. The company's jewelry and watch division recorded $11.8 billion in sales in 2023, with a 7% organic growth. Frederic Arnault has been appointed as the CEO of LVMH Watches, overseeing brands like TAG Heuer, Hublot, and Zenith. This move follows a significant restructuring within LVMH and aims to revitalize the company's focus on luxury watches amidst challenges in the luxury retail industry.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 6:36 am

ICLN

TSLA

Short-seller Jim Chanos criticized Tesla CEO Elon Musk's proposal for a carbon tax as a measure against climate change, labeling Musk as 'Subsidy King' and 'new darling of the Right'. Musk advocates for a carbon tax to combat climate change, citing a $5.3 trillion annual carbon subsidy per the IMF. Chanos, known for his bets against Tesla and Enron, recently closed his hedge fund. The debate highlights differing views on addressing climate change and the role of electric vehicles and renewable energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 6:24 am

CAT

Caterpillar Inc. (NYSE:CAT) is anticipated to report higher Q4 earnings on Feb. 5, 2024, with expected earnings of $4.75 per share and revenue of $17.11 billion, up from the previous year. The company has also signed an agreement with CRH for zero-exhaust emissions solutions deployment. Shares rose 2.4% recently. Analysts from Stifel, Tigress Financial, Goldman Sachs, JP Morgan, and TD Cowen have provided various ratings and price target adjustments.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 5:51 am

NPSCY

X

Donald Trump's threat to block Nippon Steel's (OTC:NPSCY) acquisition of United States Steel (NYSE:X) for $15 billion could have broader implications for Japan, potentially affecting future acquisitions in strategic sectors. The deal, facing opposition from U.S. lawmakers and unions, symbolizes the limits of 'friendshoring' between allies. Experts warn that the deal's failure could damage investment ties, raise costs for businesses and consumers, and prompt Japanese companies to reevaluate their U.S. expansion plans.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 5:51 am

BTCUSD

DOGEUSD

ETHUSD

Despite President Nayib Bukele's electoral victory in El Salvador, major cryptocurrencies Bitcoin, Ethereum, and Dogecoin traded in the red. The global cryptocurrency market cap declined by 1.1% to $1.63 trillion. Analysts predict an impending spike in Dogecoin's price volatility and a potential rise in Ethereum's price to $3,000+ in Q2. The cryptocurrency market saw a slight increase in market caps by 0.5% over the past week, despite a 20.3% drop in trading volumes.

Portfolio Pulse from Shivdeep Dhaliwal

February 05, 2024 | 4:50 am