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IP

Brazil's Suzano has proposed to acquire U.S.-based International Paper at $42 per share, marking a significant move in the paper and pulp industry. This offer could potentially reshape the market dynamics and create a global powerhouse in the sector.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:33 pm

BTCUSD

ETHUSD

Bitcoin and Ethereum experienced losses, with Bitcoin falling below the $64,000 mark and Ethereum trading below $3,100. The global crypto market cap decreased by 1.4% to $2.34 trillion. AIOZ Network was the top gainer, while Starknet was the biggest loser among cryptocurrencies over the past 24 hours.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 1:32 pm

LITE

Lumentum's stock price increased following the announcement of their Q3 results, which surpassed expectations. Additionally, the company provided EPS guidance for the upcoming quarter that exceeded analysts' estimates.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:31 pm

OTTR

Otter Tail Corporation's shares have seen an increase following the announcement of their Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:28 pm

RYTM

Rhythm Pharmaceuticals shares are trading lower following the release of their Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:27 pm

AAPL

AI

ALCC

BAC

CELH

DIS

NVDA

PLTR

RIVN

TSLA

The top 10 trending stocks on WallStreetBets as of May 7, 2024, include DIS, PLTR, AAPL, RIVN, NVDA, TSLA, ALCC, AI, BAC, and CELH, according to data from Swaggy Stocks.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:27 pm

PODD

Insulet shares are trading higher following an upgrade by Wolfe Research from Peer Perform to Outperform.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:26 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD), also known as SG Devco, has announced its agreement to acquire MyVONIA, an AI assistant technology, with the purchase price consisting of up to 500,000 shares of SGD restricted common stock. The acquisition, expected to close in Q2 2024, will integrate MyVONIA's machine learning and natural language processing capabilities into SG Devco's operations, specifically into the Xene AI Real Estate Platform. This move aims to enhance user experience, streamline processes, and provide valuable recurring revenue.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:26 pm

APO

BLCR

PARA

SONY

WBIL

Sony Group Corp (NYSE:SONY) and Apollo Global Management Inc (NYSE:APO) have jointly bid $26 billion for Paramount Global (NASDAQ:PARA), causing Sony's shares to drop significantly. The deal raises concerns about Sony's financial capacity and the strategic fit, given it exceeds Sony's cash reserves and involves a substantial premium. The acquisition could face regulatory scrutiny, especially regarding the CBS channel. Meanwhile, Sony is focusing on its Bravia line to compete in the streaming market, where Netflix Inc (NASDAQ:NFLX) and Walt Disney Co (NYSE:DIS) are major players. PARA stock has lost 22% in the last 12 months, while SONY gained 3%. Investors can gain exposure to SONY through WBI BullBear Quality 3000 ETF (NYSE:WBIL) and BlackRock Large Cap Core ETF (NASDAQ:BLCR).

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 1:25 pm

ROOT

Keefe, Bruyette & Woods analyst Thomas McJoynt-Griffith reiterates an Outperform rating on Root (NASDAQ:ROOT) and raises the price target from $70 to $80.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:22 pm