Streetbeat News

Earnings

TSLA

Tesla Inc (NASDAQ:TSLA) faces challenges with a -12.5% decline over the past year and -30% year-to-date. Production issues in China and a downturn in the Cybertruck's resale market have contributed to investor concerns. Technical analysis indicates a bearish outlook, with Tesla's stock falling below key moving averages and indicators like MACD, RSI, and Bollinger Bands suggesting further declines.

Portfolio Pulse from Surbhi Jain

March 22, 2024 | 1:59 pm

BCAN

BIOL

FDX

ISPR

MRNO

NVFY

SINT

U.S. stocks edged lower with the Dow, NASDAQ, and S&P 500 all seeing slight declines. FedEx Corporation reported better-than-expected Q3 earnings and announced a new $5 billion share repurchase program. Utilities shares rose, while consumer discretionary shares fell. Murano Global Investments, Nova LifeStyle, and BIOLASE saw significant stock price increases, whereas BYND Cannasoft Enterprises, Sintx Technologies, and Ispire Technology experienced notable drops.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 1:45 pm

AMD

NVDA

SMH

AMD's stock has experienced significant volatility, with a notable drop of 23.5% from its high despite strong AI narratives and institutional support. Analysts highlight a valuation gap between AMD and Nvidia, suggesting potential for AMD's growth. Micron Technology's recent success and the overall semiconductor sector's rally, including the VanEck Semiconductor ETF (SMH), underscore the sector's strength. AMD's ability to compete and meet earnings forecasts could lead to a substantial return for investors.

Portfolio Pulse from Neil Dennis

March 22, 2024 | 1:41 pm

THTX

Theratechnologies Inc. announced it will phase down its preclinical oncology research activities to focus on its Phase 1 clinical trial of sudocetaxel zendusortide in advanced ovarian cancer patients. The company aims to leverage its SORT1+ Technology platform data to attract an R&D partner. It also plans to present preclinical data at the AACR annual meeting. The restructuring is expected to result in charges of approximately $1.395 million during 2024, aligning with its goal of achieving positive Adjusted EBITDA.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:39 pm

ARKG

ARKK

ARKQ

BTCUSD

ARK Investment Management LLC predicts five disruptive technologies (AI, Energy Storage, Robotics, Multiomics, and Public Blockchains) could reach a market value of $220 trillion by 2030. These technologies are expected to drive significant economic growth and productivity. ARK's ETFs, ARKK, ARKQ, and ARKG, track the progress in AI, Robotics, and Genomics, respectively. The report also highlights the potential of cryptocurrencies, especially Bitcoin, to stabilize renewable energy grids and compete with fiat currencies.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 1:26 pm

DKNG

RSI

Rush Street Interactive Inc (RSI), a Chicago-based online betting firm, is exploring strategic options, including a potential sale, and has contacted DraftKings Inc (DKNG) among other potential buyers. Despite a 17% revenue increase to $691 million last year, RSI remains a minor player in the online sports betting market. DraftKings, known for engaging with various entities, has not commented on specifics. The online betting sector has seen exits and sales, highlighting the competitive landscape.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 1:25 pm

CBAY

GILD

Gilead Sciences has finalized its acquisition of CymaBay, with an expected reduction in Gilead's GAAP and Non-GAAP 2024 EPS by approximately $3.10-$3.20.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:21 pm

HOOK

HOOKIPA Pharma (NASDAQ:HOOK) reported Q4 earnings with an EPS of $-0.22, missing estimates by -16.0% and a revenue decrease of $421 thousand from the previous year. Despite beating EPS estimates in Q3 2023, this quarter's miss and revenue decline may concern investors.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 1:20 pm

MTNB

Matinas BioPharma reported a complete clinical response in three patients with serious invasive Fusarium infection after treatment with MAT2203, indicating positive outcomes from its drug trial.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:16 pm

BTCUSD

ETHUSD

LULU

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed performance amid a decrease in weekly jobless claims. Ripple's CEO comments on SEC's actions against Ethereum and XRP. Lululemon's weak outlook impacts pre-market session alongside Nike. US political tensions rise with Marjorie Taylor Greene's statements. Taiwan's tech surge and China's investigation into PwC over Evergrande fraud affect the global economy. Apple faces an antitrust lawsuit, while Tesla's Cybertruck production ramps up. Air travel costs are expected to rise due to airlines passing on decarbonization expenses. Various companies face legal and market challenges.

Portfolio Pulse from Akanksha Bakshi

March 22, 2024 | 1:13 pm