Streetbeat News

Earnings

AAPL

Gene Munster from Deepwater Asset Management believes Apple Inc. (NASDAQ: AAPL) has a significant opportunity to revolutionize AI engagement through a major overhaul of its virtual assistant, Siri. Munster anticipates a successful rollout could solidify Apple's leadership in AI, especially with a potential partnership with OpenAI. He expects a new chip architecture in 2025 to enhance AI capabilities on iPhones. Munster cautions investors about trading around Apple's Worldwide Developers Conference, where a revamped Siri is expected to be a highlight.

Portfolio Pulse from Adam Eckert

June 04, 2024 | 6:48 pm

ANNX

DBI

MLGO

NDRA

SOBR

U.S. stocks turned higher with the Dow Jones gaining around 200 points. Designer Brands Inc (NYSE:DBI) shares plunged over 22% following disappointing Q1 earnings. MicroAlgo Inc (NASDAQ:MLGO) shares surged 558% after announcing a new research center. Sobr Safe Inc (NASDAQ:SOBR) shares rose 96% due to new device purchases. Annexon, Inc. (NASDAQ:ANNX) shares increased 28% after positive Phase 3 trial results. ENDRA Life Sciences Inc (NASDAQ:NDRA) shares dropped 64% following a public offering announcement. Equillium Inc (NASDAQ:EQ) shares fell 24% after Phase 2 study results.

Portfolio Pulse from Avi Kapoor

June 04, 2024 | 6:32 pm

AMD

ARM

INTC

NVDA

Mizuho analyst Vijay Rakesh has boosted estimates for Nvidia (NVDA) following a Taiwan event, citing substantial opportunities with its Hopper platform and upcoming products. Rakesh also highlighted potential catalysts for Arm Holdings (ARM) and Micron Technology (MU), and reiterated Buy ratings for Advanced Micro Devices (AMD) and Intel Corp (INTC).

Portfolio Pulse from Anusuya Lahiri

June 04, 2024 | 6:24 pm

UAL

United Airlines (UAL) is scaling back its hiring plans for 2023 due to delays in airplane deliveries from Boeing (BA). The airline initially aimed to hire 13,000 to 15,000 new employees but has revised this target to around 10,000. Despite this, United Airlines still expects to hire a significant number of new employees in 2024. Boeing's production issues have led to a 25% reduction in jet deliveries, impacting United's operational growth and hiring plans. United Airlines reiterated its financial outlook for 2024, expecting adjusted EPS of $3.75 to $4.25 for Q2 and $9 to $11 for the full year.

Portfolio Pulse from Nabaparna Bhattacharya

June 04, 2024 | 5:46 pm

MRK

MRNA

MYNZ

PFE

Promising trial results from Pfizer, Moderna, Merck, and Mainz Biomed indicate potential new standards in cancer treatment and diagnostics. Pfizer's Lorbrena shows significant long-term benefits for lung cancer patients, while Moderna and Merck's combined melanoma treatment demonstrates durable efficacy. Mainz Biomed's ColoAlert® test for colorectal cancer also shows high sensitivity and specificity.

Portfolio Pulse from Upwallstreet

June 04, 2024 | 5:45 pm

WULF

TeraWulf Inc. (NASDAQ:WULF) shares are trading higher after the company provided an unaudited monthly production and operations update for May 2024. The company self-mined 186 bitcoin in May, with an average production rate of 6 bitcoin per day. Power costs averaged $31,239 per bitcoin. TeraWulf's installed and operational self-mining capacity reached 8.0 EH/s, an 82% year-over-year increase. The company is also making progress on new facilities that will further increase capacity. Analysts have a positive outlook on the stock with an average 12-month price target of $3.78.

Portfolio Pulse from Erica Kollmann

June 04, 2024 | 5:37 pm

CAPR

Capricor Therapeutics (NASDAQ: CAPR) announced positive three-year results from its HOPE-2 open-label extension study with CAP-1002, showing continued benefits for DMD patients. The stock is trading 4.43% higher following the news.

Portfolio Pulse from Dylan Berman

June 04, 2024 | 5:12 pm

HOOK

HOOKIPA Pharma announced positive Phase 2 results for its HB-200 treatment combined with pembrolizumab in HPV16+ head and neck cancer. The data showed significant clinical activity, particularly in patients with a PD-L1 combined positive score (CPS) of 20 or higher. The company will host a conference call to discuss these results.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 5:03 pm

EQT

In the last three months, 27 analysts have published ratings on EQT (NYSE:EQT), showing a range of perspectives from bullish to bearish. The average 12-month price target has risen to $42.78, with a high estimate of $60.00 and a low estimate of $27.00. Recent analyst actions include several rating raises and a few lowers, reflecting mixed sentiments. EQT has faced a -28.89% decline in revenue growth and has below-average net margin, ROE, and ROA compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

June 04, 2024 | 5:01 pm

BBWI

CCL

DIA

IWM

QQQ

SAIA

SPY

TLT

XLB

XLRE

Stocks dipped on Tuesday amid growth concerns, with major indices trading in the red. The S&P 500 faced selling pressure, and small caps were hit hard, with the iShares Russell 2000 ETF (IWM) down 1.4%. Economic data showed a sharp decline in job openings, increasing bets on a Federal Reserve rate cut in September. This boosted bond prices, with the iShares 20+ Year Treasury Bond ETF (TLT) rising 1%. Commodities fell, with oil prices down for five straight days. Bitcoin surged 3%. Notable stock movers included Saia Inc. (SAIA) up 7%, Carnival Corp. (CCL) up 4%, and Bath & Body Works Inc. (BBWI) down 13%.

Portfolio Pulse from Piero Cingari

June 04, 2024 | 5:00 pm