Streetbeat News

Marketing

SBUX

Starbucks Corp (NASDAQ:SBUX) is experiencing a significant sales decline, with a deceleration pace in same-store sales rarely seen outside major economic crises, according to BofA Securities. Analyst Sara Senatore maintains a Buy rating on Starbucks, with a price target of $108, despite the sales slump. The decline is attributed to a social media narrative around Starbucks' position on the Middle East, rather than consumer check fatigue or pricing issues, as Starbucks' pricing remains competitive. The company's Net Promoter Score has also dropped sharply from October to November 2023.

Portfolio Pulse from Priya Nigam

May 06, 2024 | 4:02 pm

TCNNF

The Florida GOP has officially opposed a marijuana legalization initiative, enabling Governor Ron DeSantis to fundraise for a campaign against it. DeSantis argues that legalization would worsen the state by increasing marijuana presence and is motivated by profit for certain individuals. Despite opposition, economic analysts predict the initiative could generate significant sales tax revenue. Trulieve, a major medical cannabis company, has been the primary financial supporter of the initiative, contributing significantly towards its campaign.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:54 pm

MSFT

Microsoft is preparing to launch a new AI model named MAI-1, aiming to compete directly with Google and OpenAI. This move signifies Microsoft's commitment to advancing in the AI technology race and positions it as a key player against significant competitors.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:23 pm

AMZN

GOOG

GOOGL

YouTube star MrBeast is parting ways with his talent management company, Night Media, to seek more control over his business. Despite the potential for continued collaboration, the move reflects MrBeast's desire for greater autonomy and possibly to manage his ventures, including the Feastables candy bar company and MrBeast Burger brand. MrBeast, with over 250 million YouTube subscribers, is also launching a game show on Amazon Prime Video, promising creative control and a significant prize, which could expand his audience and attract new brand partnerships.

Portfolio Pulse from Chris Katje

May 06, 2024 | 2:16 pm

BWMX

Betterware de Mexico S.A.P.I. de C.V. (NASDAQ:BWMX), known for its innovative consumer products, has expanded into the U.S. market with a new office in Dallas, Texas. This move is part of its growth strategy, leveraging its multi-year period of consistent, organic growth. The U.S. expansion aims to tap into an untapped customer base and capitalize on Dallas's distribution network and talent pool. Betterware, a leading direct-to-consumer company in Mexico, plans to introduce over 250 new products in 2024 and expand its direct selling arm in Texas.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:02 pm

LYRA

Lyra Therapeutics Inc (NASDAQ:LYRA) stock plummeted 93% to $0.30 after announcing its Phase 3 ENLIGHTEN 1 trial for LYR-210 in chronic rhinosinusitis failed to meet its primary endpoint. Despite some improvements in secondary measures, the trial's main goal was not achieved. The company plans operational changes and workforce reductions to conserve cash. Over the past year, LYRA shares have fallen 88.24%, with a significant drop of 93.98% in the last month. The stock's all-time high was $9.43, indicating a potential upside of 2972.66% from current levels. The stock is considered oversold, with an RSI of 20.68.

Portfolio Pulse from Henry Khederian

May 06, 2024 | 1:25 pm

CART

CMCSA

ROFDA wholesalers, representing over 2,250 stores in the U.S., have chosen Instacart's Carrot Ads solution to power their new online retail media networks. This collaboration aims to enhance digital advertising capabilities for these stores.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:06 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) announced it will present clinical data on the NaviCap Targeted Oral Delivery Platform at Digestive Disease Week 2024. The presentation will include results from device function studies in healthy volunteers and patients with Ulcerative Colitis (UC), taking place on May 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:18 pm

DCOM

Dime Community Bancshares, Inc. (DCOM), the parent company of Dime Community Bank, announced the hiring of a deposit-focused group to expand in the Williamsburg market. The group, led by John McDonough and Emanuel "Manny" Diconimakis, previously worked at the former Signature Bank and its successor, Flagstar Bank.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:52 am

PEV

Phoenix Motor Inc. is set to unveil its new branding at the Advanced Clean Transportation Expo 2024, where it will also showcase its extensive range of commercial electric vehicle (EV) solutions. These include various sizes of transit buses, medium-duty shuttle buses, work trucks, delivery trucks, and a Type A School Bus, targeting a diverse clientele such as transit agencies, airport parking companies, cities, school districts, universities, and corporate fleets.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:50 am