Streetbeat News

Stock Prices

GOOGL

Google (NASDAQ:GOOGL) is set to start manufacturing its Pixel smartphones in India, beginning with the Pixel 8 Pro in Southern India and the Pixel 8 in Northern India. This move aims to diversify its supply chain and tap into the Indian market, following a trend among tech companies like Apple and Samsung. The decision reflects a shift from manufacturing in Vietnam due to US-China tensions and aligns with the 'China+2' strategy for supply chain resilience.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 22, 2024 | 6:07 am

ADAUSD

BTCUSD

ETHUSD

Arthur Hayes, co-founder of BitMex and a Bitcoin supporter, criticized the utility of dApps within the Cardano ecosystem, calling ADA 'dog sh*t'. He challenged the Cardano community to name heavily used dApps that launched on Cardano. Charles Hoskinson, Cardano's co-founder, was tagged in Hayes' comments but responded without addressing the challenge directly. Hayes has previously described Cardano as a 'wannabe Ethereum'. Despite growth, Cardano's DeFi sector remains modest with a TVL of $460 million.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 5:59 am

ACHR

ARKF

ARKK

COIN

SOFI

TXG

Ark Invest, led by Cathie Wood, sold $6.6M worth of Coinbase (COIN) shares as the crypto exchange experienced a significant Bitcoin (BTC) withdrawal, leaving it with its lowest reserve since 2015. The sale occurred through ARKK and ARKF ETFs. Despite this, Coinbase's Q4 earnings exceeded expectations. Ark also made notable investments in SOFI, TXG, U, and ACHR, indicating a bullish stance on these companies.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:52 am

SJW

SJW Group reported Q4 2023 earnings of $0.59 per share, surpassing the consensus estimate of $0.57. Quarterly sales reached $171.34M, exceeding the $161.00M estimate but marking a slight decrease from $171.37M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:37 am

NVDA

Tesla Inc. investor Ross Gerber praised Nvidia Corporation (NASDAQ:NVDA) for its performance and AI expansion, calling it 'wildly undervalued' after a record quarter. Nvidia's Q4 earnings exceeded forecasts with non-GAAP EPS of $5.16 and revenue of $22.10 billion, marking a 265% year-over-year growth. The company's success in AI and gaming has led to a 529% increase in shares, rebounding from a previous 68% decline. Gene Munster highlighted Nvidia's long-term growth potential in the AI sector.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:32 am

AAL

DAL

UAL

United Airlines Holdings Inc (NASDAQ:UAL) is set to resume direct flights to Israel in March, becoming the first U.S. carrier to do so since the Gaza war in October. The service will restart from Newark to Tel Aviv with daily nonstop flights using a Boeing 787-10. This move could mark a turning point for travel to Israel, which had seen a decline due to security concerns. Other major U.S. carriers, American Airlines Group Inc. (NASDAQ:AAL) and Delta Air Lines, Inc. (NYSE:DAL), had also suspended their services following the Hamas attack but have not announced plans to resume flights.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:27 am

AMZN

RIVN

Rivian Automotive Inc.'s CFO, Claire McDonough, disclosed that a significant decrease in electric delivery van (EDV) deliveries to Amazon.com Inc. in Q4 negatively impacted Rivian's gross margin. Deliveries to Amazon accounted for only 8% of Rivian's total revenue in Q4, down from 30% in the previous quarter. This decline was expected due to Amazon's restriction on new commercial van intake during peak periods. Rivian ended Q4 with a surplus of commercial vans, contributing to a 46% drop in gross margin. Despite a partnership with Amazon to deploy 100,000 EDVs by 2030, only over 10,000 are currently operational. Rivian has revised its agreement with Amazon to sell vans to other parties but does not expect significant demand from non-Amazon customers until around 2025.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 4:36 am

ARKB

BTCUSD

Max Keiser predicts a market crash akin to 1987, with Bitcoin soaring past $500,000 as a safe haven. He warns that Bitcoin ETFs and domestic miners in the US might face government seizure. Keiser also foresees a migration wave into El Salvador due to market imbalances, with the top 10% of US stocks representing 75% of market value, a concentration level not seen since the Great Depression.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 4:35 am

Jim Cramer, host of CNBC's 'Mad Money', recommends holding onto Home Depot (HD) shares despite a disappointing quarter, citing management's conservative forecast and potential for future growth. Home Depot reported a nearly 3% drop in quarterly sales, attributed to falling lumber prices and interest rate hikes. However, the company's outlook remains cautiously optimistic, with expectations of benefiting from the spring planting season and potential interest rate decreases.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 4:34 am

NVDA

Nvidia Corporation's CEO, Jensen Huang, during the Q4 earnings call, expressed optimism for the company's future, highlighting its strong position in the data center business due to industry-wide transitions to accelerated computing and generative AI. He introduced the concept of AI generation factories, emphasizing Nvidia's role in powering applications like ChatGPT with its AI supercomputers. The CFO, Colette Kress, noted that 40% of data center revenue was for AI inference, underscoring the company's significant growth and strong financial performance, including a revenue beat of $22.10 billion and a non-GAAP EPS of $5.16 for Q4 2024.

Portfolio Pulse from Ananya Gairola

February 22, 2024 | 4:17 am