Streetbeat News

Stock Prices

LBRT

Liberty Energy Inc. (LBRT) has increased its share repurchase authorization to $750 million, up from the previous $500 million, and extended the program through July 31, 2026. The company has repurchased 21.9 million shares for approximately $328 million to date. Additionally, Liberty Energy declared a quarterly cash dividend of $0.07 per share, payable on March 20, 2024, to shareholders of record as of March 6, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 6:30 am

ASML

ASML, a key player in the semiconductor industry, reported Q4 net bookings of €9.2 billion, with €5.6 billion attributed to EUV (extreme ultraviolet) technology systems. This indicates strong demand for ASML's advanced lithography machines, which are crucial for manufacturing cutting-edge semiconductor chips.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 6:13 am

ASML

ASML, a leading semiconductor equipment manufacturer, forecasts Q1 net sales of €5B-€5.5B with a gross margin of 48%-49%. The company anticipates R&D costs around €1,070 million and SG&A costs near €300 million. Despite positive indicators, ASML expects 2024 net sales to be on par with 2023, while preparing for significant growth anticipated in 2025.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 6:09 am

JL

J-Long Group has priced its IPO at $5 per share, offering 1.4 million ordinary shares for total gross proceeds of $7 million. The company has also granted the underwriter an option to purchase up to an additional 210,000 shares. The shares are expected to trade on the Nasdaq Global Market under the symbol 'JL' starting January 24, 2024, with the offering expected to close on January 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 6:00 am

BTCUSD

ETHUSD

SEC Commissioner Hester Peirce, known as 'Crypto Mom,' indicated that a lawsuit is not necessary for the SEC to approve a spot Ethereum ETF. She emphasized the importance of proper disclosures and preparation for exchange-traded products. Financial firms such as BlackRock and VanEck have pending applications for Ethereum ETFs, with decision deadlines approaching. Bloomberg's Eric Balchunas gives a 70% chance of approval by May. Meanwhile, the SEC delayed its decision on Fidelity's proposed Ethereum ETF to March 5. Ethereum's price is currently down 5.51%.

Portfolio Pulse from Mehab Qureshi

January 24, 2024 | 5:41 am

TSLA

Tesla Inc (NASDAQ:TSLA) is planning to produce a new mass market electric vehicle, codenamed 'Redwood', which is expected to be a compact crossover with production starting in mid-2025, according to a Reuters report citing sources familiar with the matter.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 5:38 am

AMZN

NFLX

Netflix Inc (NASDAQ:NFLX) is experiencing positive results from its crackdown on password sharing, leading to increased user engagement and new account sign-ups. Co-CEO Ted Sarandos expressed satisfaction with the strategy during an earnings call, noting that while engagement was slightly impacted by paid sharing, it is expected to normalize as users create their own accounts. The company's Q4 earnings showed a 12.5% year-over-year revenue increase, surpassing consensus estimates, continuing the positive trend from Q2 2023. Netflix's move has also drawn attention from competitors like Amazon.com Inc's (NASDAQ:AMZN) Prime Video.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 5:07 am

BABA

PDD

SFBQF

Jack Ma and Joe Tsai have become the largest shareholders of Alibaba Group Holding Ltd (NYSE:BABA), surpassing SoftBank Corp (OTC:SFBQF). Ma increased his stake to over 4.3% by purchasing $50 million worth of shares, while Tsai bought 1.957 million shares through Blue Pool Management. Their combined stake now exceeds that of SoftBank, which has reduced its stake to less than 0.5%. Alibaba's stock price, which had dropped by 11% in Q4 2023, saw a resurgence of over 7% following the co-founders' investments, signaling their confidence in the company's future.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 4:58 am

TM

TSLA

Tesla CEO Elon Musk expressed skepticism with a 'Sigh' in response to Toyota Chairman Akio Toyoda's view that battery electric vehicles (BEVs) will only secure up to 30% of the global automotive market. Toyoda believes in a diverse approach to reducing CO2 emissions, including hybrids, hydrogen fuel cells, and combustion engines. Musk, who is focused on BEVs at Tesla, has previously stated that electric cars will replace combustion cars, much like cars replaced horses, and has criticized hydrogen as an inefficient energy source for vehicles.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 4:24 am

AAPL

AMZN

GOOG

GOOGL

META

MSFT

Alphabet Inc. has ended its contract with Appen, the AI firm that has been instrumental in training Google's Chatbot Bard and contributing to Google Search results. This decision, effective March 19, follows a strategic review by Alphabet and will impact around two thousand subcontracted workers. Appen, which has been facing challenges such as client attrition and declining financials, relied on Alphabet for about one-third of its revenue. Alphabet's move aligns with its focus on developing proprietary AI technology, amidst defending a $7 billion lawsuit over AI patent infringement.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 3:45 am