Streetbeat News

Assets

IMTX

Immatics reported a Q4 GAAP EPS of €(1.20), a decrease from €0.55 YoY. Revenue from collaboration agreements was €54.00M, down from €172.83M YoY. The company's cash and equivalents total €425.9M (~$470.6M), expected to fund operations into 2027.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:27 am

CABA

Cabaletta Bio reported a Q4 EPS of $(0.46), missing the $(0.39) estimate, a significant decrease from the previous year's $0.52 per share. The company has $241.2M in cash and equivalents, expected to fund operations into H1 2026.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:22 am

CATO

Cato Corporation plans to navigate the challenging economic environment of 2024 with caution, opening up to 15 new stores while closing up to 75 underperforming ones as leases expire.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:13 am

KGEI

Kolibri Global Energy announced its proved reserves for FY23, revealing a net present value of $483 million. This significant valuation highlights the company's strong asset base and potential for future growth.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:55 am

GLD

SPY

USO

UUP

Global markets saw gains with the S&P 500, Dow Jones, and Nasdaq all closing higher after the Federal Reserve announced it would keep borrowing costs stable and hinted at possible rate cuts. Gold surged to a record high, crossing $2,200. Asian and European markets also experienced gains, with notable increases in Japan's Nikkei 225 and Australia's S&P/ASX 200. U.S. crude oil stocks fell unexpectedly, and the U.S. Dollar Index dropped.

Portfolio Pulse from Akanksha Bakshi

March 21, 2024 | 10:54 am

ARKG

ARKK

MRNA

PFE

Cathie Wood's Ark Invest has significantly increased its stake in Moderna, Inc. (MRNA), doubling its holdings since the fourth quarter, as indicated by recent purchases through its ARK Innovation ETF (ARKK) and Ark Genomic Revolution ETF (ARKG). This move comes as Moderna diversifies its product pipeline beyond its COVID-19 vaccine, Spikevax, and reports strong revenue figures. Meanwhile, Ark has sold off its shares in Pfizer, Inc. (PFE), a rival COVID-19 vaccine maker. Moderna's stock has seen a modest year-to-date gain, lagging behind the broader market, but analysts see a potential upside.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 10:00 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki, commented on a trader's significant loss in Tesla stock throughout 2022, emphasizing that gambling is not investing. The trader, Charles Harris, saw his margin account drop from eight figures to six due to Tesla's 69% stock decline, influenced by various factors including supply chain disruptions and Elon Musk's acquisition of Twitter. Gerber advises against margin trading and urges consulting a financial advisor.

Portfolio Pulse from Anan Ashraf

March 21, 2024 | 9:58 am

USDT

The 'overnight effect' observed in traditional stock markets, where significant price movements occur outside regular trading hours, is being scrutinized for its relevance in the cryptocurrency market. Unlike the stock market, the crypto market operates 24/7, making it susceptible to news-driven fluctuations at any time. Studies, including one from the Federal Reserve Bank of New York, suggest that crypto might still be influenced by traditional market movements, particularly during the opening hours of other global markets. Factors such as global interdependence, investor sentiment, and the role of Tether (USDT) in the crypto market are crucial in understanding this dynamic. However, crypto's inherent features like decentralization, a continuous news cycle, and high volatility could mitigate the 'overnight effect'.

Portfolio Pulse from Murtuza Merchant

March 21, 2024 | 9:39 am

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) successfully launched its fifth national security mission for the National Reconnaissance Office (NRO) from Launch Complex 2 in Wallops, Virginia. The mission, NROL-123 named 'Live and Let Fly', marks Rocket Lab's first NRO launch from the United States, adding to four previous NRO missions launched from New Zealand.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:24 am

BLK

BlackRock has launched BUIDL, its first tokenized investment fund on the Ethereum blockchain, allowing qualified investors to earn U.S. dollar yields. Investors can subscribe to the fund through Securitize Markets, LLC, in which BlackRock has made an investment to enhance digital assets infrastructure.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 7:31 am