Streetbeat News

Earnings

ARKK

ARKW

DKNG

EXAS

GBTC

ROKU

TDOC

Ark Invest, led by Cathie Wood, purchased $12.6 million worth of Zoom Video Communications (ZM) shares after the company reported positive earnings, surpassing expectations. The shares were bought through ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). Ark Invest also increased its stake in Teladoc Inc (TDOC), sold shares of Exact Sciences Corp (EXAS), Draftkings Inc (DKNG), Roku Inc (ROKU), and Grayscale Bitcoin Investment Trust (GBTC).

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 2:17 am

CRLBF

TCNNF

Major cannabis multistate operators (MSOs) like Trulieve Cannabis Corp (TCNNF) and Cresco Labs Inc (CRLBF) are exiting less profitable state markets to strengthen their financial positions in anticipation of federal reforms and increased investor interest. Cresco Labs reported $191 million in Q3 revenue after leaving Arizona and Maryland, while Trulieve divested from California and ceased Massachusetts operations. The industry is hopeful for legislative changes, such as cannabis rescheduling and the SAFER Banking Act, despite political uncertainties.

Portfolio Pulse from Patricio Liddle

November 23, 2023 | 1:43 am

BIDU

MARA

SPRC

TSLA

U.S. stock indices rose on Wednesday, with the Dow Jones up by 0.5%, NASDAQ by 0.46%, and S&P 500 by 0.41%. SciSparc Ltd surged 16.80% after announcing a non-binding letter of intent to merge with an Israeli vehicle importer. Deere & Company's stock fell 3.11% post Q4 FY23 results showing decreased net sales and revenue. Baidu Inc. climbed 5.91% due to positive Q3 financial results and analyst coverage. Marathon Digital Holdings rose 5.92% amid an uptrend in the crypto market. Tesla Inc. dropped 2.90% following legal concerns over its Autopilot system.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 1:42 am

LexinFintech Holdings has reaffirmed its previous guidance, projecting an annual Gross Merchandise Volume (GMV) growth of 20-25% year over year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 11:06 pm

LexinFintech Holdings reported its Q3 results with an adjusted net income per ADS of $0.32 and sales totaling $480.94 million.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 11:04 pm

BGXX

Bright Green Corporation (NASDAQ:BGXX) reported its Q3 2023 financial results with no revenues, reduced operating expenses from $5.8 million in Q3 2022 to $1.8 million, and a net loss of $1.9 million, which was in line with expectations. The company, under executive chairman Terry Rafih, is a DEA-registered entity for cannabis research and pharmaceutical purposes. It appointed Groovy Singh as CEO, executed an EB-5 capital raising program, and settled $3.6 million in debt with shares and warrants. BGXX also applied for regulatory approval to produce additional controlled substances and joined the Russell 3000 Index in June 2023. The stock traded down at $0.2878 per share, a 3.10% decrease.

Portfolio Pulse from Joana Scopel

November 22, 2023 | 10:57 pm

BMA

Banco Macro reported a significant decline in net income for Q3, with an 87% decrease from the previous quarter and a 65% drop compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:55 pm

MEOH

Methanex Corporation estimates that its Egypt methanol production facility, which experienced an unplanned outage in mid-October due to a mechanical failure in the synthesis gas compressor, will resume production towards the end of Q1 of 2024. Methanex holds a 50% equity interest in the 1.26 million tonne facility, equivalent to 0.63 million tonnes per annum.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:19 pm

BEST

BEST Inc. reported a Q3 adjusted loss per ADS from continuing operations of $(1.21) and sales of $305.20 million.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:04 pm

AAPL

MSFT

Microsoft Corp. (MSFT) reached a new all-time high of $377 per share, with a year-to-date gain of 57%. The company's market cap is at $2.8 trillion, just behind Apple Inc. (AAPL). Microsoft's success is attributed to its leadership in AI, cloud computing, and strong financial performance, with Q3 2023 revenue of $56.5 billion and EPS of $2.99. However, its forward P/E ratio of 33x and bearish RSI divergence signal caution among investors. Goldman Sachs sees MSFT as a compelling investment, with a 1-year target of $406.

Portfolio Pulse from Piero Cingari

November 22, 2023 | 10:01 pm