Streetbeat News

Earnings

BLZE

DBX

NVX

PDFS

In Monday's pre-market session, several Information Technology stocks showed significant movement. Notably, NOVONIX, Infobird Co, Bit Origin, HeartCore Enterprises, and Backblaze were among the top gainers, with increases ranging from 13.49% to 15.9%. On the downside, Dropbox, MultiSensor AI Holdings, Unusual Machines, ARB IOT Group, D-Wave Quantum, and PDF Solutions experienced declines between 7.36% and 14.8%. These movements come in the wake of recent Q4 earnings releases for some companies.

Portfolio Pulse from Benzinga Insights

February 19, 2024 | 1:05 pm

META

Meta Platforms Inc. CEO Mark Zuckerberg emphasized the company's ongoing commitment to the metaverse, despite the current focus on AI. In a podcast interview, he highlighted Meta's substantial annual investment of at least $15 billion in both AI and the metaverse. Zuckerberg's remarks underscore the importance of the metaverse to Meta's long-term strategy, even as AI garners more immediate attention. This comes amid scrutiny of Meta's metaverse initiatives, including a public critique by Elon Musk and layoffs in the Reality Labs unit.

Portfolio Pulse from Ananya Gairola

February 19, 2024 | 9:10 am

META

SNAP

Snap Inc. (NYSE:SNAP) faces growing investor frustration due to its financial underperformance, with its stock plummeting 40% this month after reporting a $248 million loss and another round of layoffs. Wedbush's Dan Ives highlighted the continuous disappointment among investors, contrasting Snap's struggles with Meta Platforms' (NASDAQ:META) record ad sales profits. Snap's leadership, particularly CEO Evan Spiegel, is under scrutiny as investor confidence wanes, exacerbated by Snap's significant control structure and ongoing legal challenges.

Portfolio Pulse from Benzinga Neuro

February 19, 2024 | 7:32 am

FFND

META

TSLA

Gary Black of Future Fund criticized Tesla for accumulating a large cash reserve, suggesting it return some to shareholders through dividends or buybacks. Tesla's cash is predicted to reach $150B by 2030. Black highlighted that tech rivals, like Meta Platforms which recently initiated a dividend, are returning cash to shareholders, which could support Tesla's stock. He also mentioned a potential $50B buyback could increase Elon Musk's voting control. The Delaware Chancery Court nullified Musk's 2018 compensation plan, impacting future plans.

Portfolio Pulse from Shanthi Rexaline

February 18, 2024 | 8:40 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

The cryptocurrency market saw significant activity with predictions of Dogecoin's rise, warnings of Bitcoin's fall, Jim Cramer's mixed reactions to Robinhood's Q4, a surge in Shiba Inu whale inflows, and Donald Trump selling Ethereum. Dogecoin is predicted to surpass $0.10, Bitcoin may fall below $10,000, Shiba Inu experienced a 2595% increase in whale inflows, and Trump missed out on $500,000 in potential ETH profits.

Portfolio Pulse from Benzinga Neuro

February 18, 2024 | 10:12 am

ANET

DIS

NVDA

PANW

TSLA

The article discusses the end of a five-week winning streak for major indexes due to unexpectedly high inflation data, influencing market expectations for Federal Reserve rate cuts. It highlights bullish and bearish perspectives on stocks like Tesla, Nvidia, Disney, and AI-related companies Palo Alto Networks and Arista Networks, as well as a prediction for Dogecoin. Concerns over inflation, market peaks, and corporate governance issues at Disney are also mentioned.

Portfolio Pulse from Michael Cohen

February 17, 2024 | 2:22 pm

IREN

Iris Energy (NASDAQ:IREN) reported a significant improvement in its Q2 earnings, with a loss of $(0.07) per share compared to a loss of $(0.73) per share YoY. Sales surged to $42.57M from $13.76M YoY, marking a 209.52% increase.

Portfolio Pulse from Happy Mohamed

February 17, 2024 | 2:34 am

BTCUSD

META

NVDA

TSLA

Bitcoin surpassed $50,000, reaching a $1-trillion market valuation after SEC approval for a Bitcoin ETF. Nvidia outpaced Amazon and Alphabet, becoming the third-largest U.S. company. Inflation reports led to reassessment of Fed rate cuts, affecting tech stocks. AI investment is predicted to reach $1 trillion in 10 years, with Nvidia at the forefront. Tesla's stock may rise due to stable pricing and Full Self-Driving adoption. The top seven U.S. tech giants' stocks surged 140%, raising bubble concerns. Wealth migration to tax-favorable states is noted, and Zuckerberg praised Meta's Quest 3 over Apple's Vision Pro.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 9:29 pm

QQQ

SPY

XLK

The S&P 500 and Nasdaq 100 ended their five-week winning streak due to higher-than-expected inflation reports, raising concerns about delayed Federal Reserve interest rate cuts. The Consumer Price Index and core inflation rates exceeded forecasts, while the Producer Price Index saw a monthly increase, leading to a rise in Treasury yields and negatively impacting markets, especially tech stocks.

Portfolio Pulse from Piero Cingari

February 16, 2024 | 9:20 pm

SCX

L.S. Starrett Company reported a Q2 2024 EPS of $(0.05), a decrease from $0.42 YoY. Revenue also fell to $62.076M from $66.775M YoY.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 9:20 pm