Streetbeat News

Stock Prices

VFS

Vingroup's electric vehicle unit, VinFast Auto Ltd (NASDAQ:VFS), faces financial challenges with a $5.7 billion loss over the past three years amid global expansion efforts. Despite substantial capital injections from Vingroup and its affiliates, VinFast's reliance on sales to related entities and a downturn in global EV demand pose risks. Vingroup's stock has fallen 38% since VinFast's U.S. listing, and the company has recently sold assets to support VinFast, which has seen its shares plummet by 97% since its peak post-debut.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 7:59 pm

Macy's Inc (NYSE:M) is at a critical juncture as it appoints two new board members following a proxy fight with Arkhouse Management. The company is considering a buyout proposal from Arkhouse and Brigade Capital Management, who previously offered $21 per share. The board is exploring all options to maximize shareholder value amidst this takeover bid, which could significantly alter Macy's future. The stock closed lower by 3.16% to $19.30 recently.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 7:26 pm

SOFI

President Joe Biden announced a $7.4 billion student debt forgiveness for 277,000 people, sparking criticism from Elon Musk and Bill Ackman, who argue it's a vote-buying strategy using taxpayer money. Critics are concerned about the impact on the fiscal deficit, with the national debt already at $34.65 trillion. The Wharton School estimates the plan's cost at $84 billion, in addition to the $475 billion for the SAVE plan. Following the announcement, shares of private student loan companies like SoFi Technologies, Inc. (NASDAQ:SOFI) fell.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 5:03 pm

SHIBUSD

Shiba Inu (SHIB) experienced a significant liquidation event with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated amid a market downturn. Despite a 12.17% price drop in the last day, large transactions surged by 276.29%, and trading volume increased to $1,199,915,774. Over 12,000 addresses hold at least 1 billion SHIB, with 73% of investors holding for over a year, indicating strong investor confidence and potential for recovery.

Portfolio Pulse from Bibhu Pattnaik

April 13, 2024 | 4:31 pm

CRM

INFA

Salesforce, Inc. (NYSE:CRM) is in advanced talks to acquire Informatica Inc. (NYSE:INFA), a data-management software provider. The acquisition price is reportedly lower than Informatica's recent stock price of $38.48. Salesforce, known for its acquisitive strategy, has over 70 acquisitions since 2006. The deal, if completed, would be one of Salesforce's largest, following its $28 billion acquisition of Slack Technologies. Salesforce's stock has risen about 15% this year, with a market cap of approximately $285 billion.

Portfolio Pulse from Nabaparna Bhattacharya

April 13, 2024 | 3:04 pm

BTCUSD

DOGEUSD

ETHUSD

Billy Markus, co-founder of Dogecoin, humorously commented on the cryptocurrency market crash, where Dogecoin, Bitcoin, and Ethereum saw significant losses. Dogecoin dropped over 19%, Bitcoin fell by 7% to $67,490, and Ethereum by more than 10% to $3,161. The total market liquidation reached approximately $735 million. The downturn comes ahead of the anticipated Bitcoin halving event, expected to potentially surge Bitcoin's price and affect altcoins like Dogecoin.

Portfolio Pulse from Bibhu Pattnaik

April 13, 2024 | 2:09 pm

SBUX

Coffee and cocoa bean prices are surging due to supply concerns, with New York cocoa futures reaching their highest levels since the 1960s. Extreme weather conditions, aging trees, and steady demand are driving prices up. Hershey Co (HS) and Starbucks Corp (SBUX) are facing higher operating costs, impacting their stock prices negatively. Hershey's stock is down over 5% in the last month, while Starbucks' stock has fallen more than 7%. The rise in commodity prices, including copper and gold, is also noted.

Portfolio Pulse from Aaron Bry

April 13, 2024 | 1:49 pm

GOEV

KARS

NKLA

TSLA

VWAGY

Electric vehicle stocks had a mixed week, with Tesla, Inc. (TSLA) ending higher despite volatility. Tesla slashed its FSD subscription price by 50% to $99/month to boost adoption. Elon Musk confirmed a visit to India to discuss Tesla's plans, potentially impacting the company's strategy in the region. Nikola Corporation (NKLA) faced a setback with shares dropping due to a boardroom battle and a proxy filing by founder Trevor Milton. Ford Motor Co. (F) reduced prices for its F-150 Lightning EV, and Volkswagen AG (VWAGY) reported diverging EV sales in Europe and China. Canoo, Inc. (GOEV) announced a pilot program with Red Sea Global in Saudi Arabia. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 1:39 pm

AGI

AMC

COIN

DJT

FCX

TSLA

Benzinga's weekly review highlights Wall Street's downturn, with the S&P 500, Dow, and Nasdaq all falling. Oil prices rose due to geopolitical tensions between Israel and Iran. U.S. consumer sentiment dipped, and expectations for a Federal Reserve rate cut decreased. Bullish reports include AMC's CEO dismissing bankruptcy fears, Dogecoin's post-Bitcoin halving surge, and BofA's positive outlook on gold and copper with upgrades for AGI and FCX. Bearish reports cover Trump Media's legal challenges, a lawsuit against Coinbase, and concerns over Tesla's $25K EV project.

Portfolio Pulse from Michael Cohen

April 13, 2024 | 1:28 pm

EIS

SPY

USO

Iranian commandos seized an Israeli-linked ship near the Strait of Hormuz, according to the UK Telegraph citing Iran state media. This incident could escalate tensions in the region, potentially affecting global oil supply routes and market stability.

Portfolio Pulse from Charles Gross

April 13, 2024 | 11:37 am