Streetbeat News

Earnings

CSCO

DIA

FCX

MRNA

NVDA

QQQ

SPY

Stocks fell ahead of key inflation data, with the S&P 500, Dow, and Nasdaq showing declines. Treasury yields dipped as bond demand rose, and gold prices reached new highs. Bitcoin saw a significant drop. Key ETFs like SPY, DIA, and QQQ moved lower, while specific stocks like NVDA, CSCO, MRNA, MP, and FCX experienced notable price movements due to various factors including analyst ratings and study results.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 5:53 pm

ACB

CGC

Aurora Cannabis, Inc. (NASDAQ:ACB) and Canopy Growth Corporation (NASDAQ:CGC) shares are trading lower in response to Tilray Brands, Inc. (NASDAQ:TLRY) reporting worse-than-expected third-quarter results and revising its fiscal year 2024 outlook to no longer expect positive adjusted free cash flow. This downturn occurs despite recent optimism in the cannabis sector due to legalization in Germany and potential rescheduling in the U.S.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 5:30 pm

NRIX

Nurix Therapeutics has presented new clinical evidence at the AACR 2024 Annual Meeting, showing CNS activity of NX-5948, an orally available BTK degrader in development for B cell malignancies. The data includes case studies of patients with CLL and PCNSL, highlighting the potential for broader application in autoimmune disorders with CNS involvement.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:16 pm

CVX

Recent options trading activity for Chevron (NYSE:CVX) shows a bullish sentiment among investors, with 63% of trades being bullish and 37% bearish. Significant trading activity has been observed, with a total of 11 trades, including 4 puts and 7 calls, indicating an expected price range for Chevron's stock between $125.0 and $230.0 over the next three months. Chevron, a major integrated energy company, has a current stock price of $161.67, showing a slight increase of 0.25%. The company is expected to announce its earnings in 17 days, and its trading volume and RSI indicators suggest the stock may be overbought.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 5:16 pm

BSGM

LASE

TLRY

VINC

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell by 22% after missing Q3 estimates and revising its fiscal year 2024 outlook. Other stocks showed significant movement, with Laser Photonics Corporation (NASDAQ:LASE) and BioSig Technologies, Inc. (NASDAQ:BSGM) among the top gainers. Vincerx Pharma, Inc. (NASDAQ:VINC) led the losers after presenting preliminary Phase 1 data.

Portfolio Pulse from Avi Kapoor

April 09, 2024 | 5:12 pm

ALKS

In the last three months, 5 analysts have updated their ratings on Alkermes (NASDAQ:ALKS), showing a mix of bullish and bearish sentiments. The average 12-month price target has been raised to $38.0, indicating a 7.8% increase from the previous target. Alkermes's financial performance is strong, with a notable revenue growth of 23.89%, a net margin of 29.88%, and an ROE of 8.82%. The company's debt management is prudent with a debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 5:01 pm

Chemours Co (NYSE:CC) received a double upgrade from BMO Capital Markets, moving from Underperform to Outperform with a price target increase from $19 to $34. This upgrade follows Chemours' Q4 earnings report, which exceeded expectations. Analyst John McNulty highlighted the resolution of accounting issues and potential growth across the company's segments. Despite a lower-than-expected Q1 guidance, McNulty is optimistic about Chemours' performance improvement through 2024, citing effective leadership and strategic planning by CEO Dignam.

Portfolio Pulse from Priya Nigam

April 09, 2024 | 4:56 pm

TLRY

Tilray Brands Inc (NASDAQ:TLRY) shares dropped significantly after the company reported third-quarter revenue of $188.34 million, missing the consensus estimate of $198.5 million, and announced it no longer expects to generate positive adjusted free cash flow for FY 2024. Despite a 30% year-over-year increase in revenue and growth in various business segments, the revised financial outlook and missed earnings estimates have negatively impacted investor sentiment.

Portfolio Pulse from Adam Eckert

April 09, 2024 | 4:38 pm

MTEM

Molecular Templates, Inc (NASDAQ:MTEM) shares experienced volatility after presenting positive interim data from its MT-6402 Phase I study in patients with PD-L1+ solid tumors. The data showed MT-6402's unique action and good tolerance, with no severe adverse events. CEO Eric Poma highlighted the drug's potential in treating checkpoint-experienced head and neck cancer patients. The stock saw heavy trading, with over 1.47 million shares traded, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 4:37 pm

VVOS

Vivos Therapeutics, Inc. (NASDAQ:VVOS) shares dropped after filing a prospectus for the resale of up to 1.73 million shares by selling shareholders. The company could receive $8.4 million if all warrants are exercised. Vivos also announced Medicare reimbursement approval for its CARE oral medical devices and reported Q4 losses of $3.05 per share, missing estimates by 59.69%, with sales of $3.248 million also missing estimates.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 4:36 pm