Streetbeat News

Earnings

MARA

Marathon Digital CEO, Fred Thiel, discussed the upcoming Bitcoin halving with Benzinga, highlighting that the marginal cost to mine Bitcoin will increase as the energy required will double.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:49 pm

RIOT

Riot Blockchain CEO predicts that due to varying power costs and machine efficiency, some miners will become uneconomic, leading to a potential decrease in the network hash rate by at least 5%, with further reductions possible depending on Bitcoin price trends.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:47 pm

RIOT

Riot Blockchain CEO, Jason Les, discussed the upcoming BTC halving with Benzinga, highlighting that it will cut miners' revenue in half and double their costs.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:47 pm

MMM

Financial analysts have observed a mix of bullish and bearish options trading activity on 3M (NYSE:MMM), with an equal split between bullish and bearish sentiments. The trading activity suggests a predicted price range of $50.0 to $95.0 for 3M in the coming three months. Notable options activity includes both calls and puts with varying sentiments and strike prices. 3M, a multinational conglomerate, has seen its stock price increase by 1.12%, with a current price of $92.96. Analysts have set an average price target of $98.8, with ratings ranging from Overweight to Underperform. The next earnings report is expected in 21 days.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:31 pm

ALKS

Alkermes plc (NASDAQ:ALKS) announced positive results from a phase 1b study of ALKS 2680 for narcolepsy, showing significant improvements in sleep latency compared to placebo. The company plans to initiate a phase 2 study in the second half of 2024. Following the news, Jefferies increased the price target for ALKS from $42 to $50 and raised the probability of success for ALKS-2680 to 50%, with peak sales expected to reach $1 billion. ALKS shares rose 3.43% to $26.82.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:23 pm

Goldman Sachs analyst Mark Delaney downgraded Sensata Technologies (NYSE:ST) to Neutral from Buy, lowering the price forecast to $36 from $44, citing slower revenue growth in its North American auto business tied to EVs. Delaney highlighted weaker near-term EV sales and delays in certain EV launches by traditional OEMs as key challenges. Despite Sensata having a higher content in battery electric vehicles compared to internal combustion engine vehicles in North America, challenges in China and recent delays in EV production by Ford (NYSE:F) add risk and uncertainty for Sensata. The analyst also noted Sensata's declining margins and predicts the stock will trade at a lower multiple while fundamentals are pressured.

Portfolio Pulse from Nabaparna Bhattacharya

April 09, 2024 | 6:23 pm

MRK

MRNA

Moderna Inc's stock rose after presenting positive Phase 1 trial results for its mRNA-4157 therapy in combination with Merck & Co's Keytruda for treating advanced unresectable HPV-negative head and neck carcinoma. The trial showed promising response rates and disease control, with the vaccine combination being safe and well tolerated. The companies are also collaborating on Phase 3 trials for melanoma and non-small cell lung cancer.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:16 pm

Financial analysis of Energy Transfer (NYSE:ET) options market reveals a bearish sentiment among traders, with 62% showing bearish tendencies and 37% bullish. The analysis highlighted unusual trades, including 3 puts and 5 calls, aiming for a price range of $12.0 to $20.0. The current market status shows ET trading at $15.85, with a volume of 7,473,081 and an RSI suggesting it may be approaching overbought territory. The anticipated earnings release is in 29 days.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:16 pm

JETS

MAGS

SMH

TLT

Investors are awaiting March inflation data from the Bureau of Labor Statistics, with expectations of a rise in the CPI inflation rate to 3.4% from 3.2%, and a slight decrease in core inflation from 3.8% to 3.7%. Wells Fargo predicts higher rates, while Bank of America expects more subdued inflation, potentially influencing the Fed's rate cut decision in June. February's CPI data caused volatility in ETFs, with some surging and others falling in response.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 6:01 pm

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