Streetbeat News

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AMC

BRK

CB

GME

JPM

RDDT

SOXX

TSLA

Major market indexes hit record highs, with the Dow reaching 40,000 as inflation fears recede. Meme stocks like AMC and GME saw a resurgence, while GameStop later dropped due to a share offering and weak revenue estimates. Reddit partnered with OpenAI, and Berkshire Hathaway acquired a significant stake in Chubb. Jamie Dimon warned about the national deficit, and Tesla's Cybertruck lagged behind Ford's F-150 Lightning in registrations.

Portfolio Pulse from Piero Cingari

May 17, 2024 | 8:07 pm

ERAS

Erasca shares are trading higher following the announcement of exclusive license agreements for two preclinical RAS programs.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 7:22 pm

GOOG

GOOGL

META

MSFT

OpenAI has disbanded its superalignment team after key members, including co-founder Ilya Sutskever, departed. The team’s responsibilities have been integrated into broader research efforts. The departures have sparked debates over the company's focus on safety versus speed in AI development. The Biden Administration and tech giants like Meta, Microsoft, and Alphabet are actively addressing AI safety concerns.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 6:59 pm

GDRX

GoodRx shares are trading lower after a recent rise due to a deal with Kroger.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 6:57 pm

GOOGL

MGNI

NFLX

TTD

Netflix's first live Upfront event showcased its robust content slate, 40 million ad-supported viewers, and new ad integrations. Analysts have mixed ratings but see potential in Netflix's advertising strategy. Key partnerships include The Trade Desk, Alphabet's DV360, and Magnite.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 6:34 pm

DXC

MSFT

DXC Technology (NYSE:DXC) shares are down 16.5% after reporting Q4 earnings that beat estimates but issuing weak guidance for Q1 and FY 2025. Analysts have lowered their price targets. DXC also announced a partnership with Ferrovial and Microsoft to create a new AI platform.

Portfolio Pulse from Dylan Berman

May 17, 2024 | 5:41 pm

REE

Roth MKM analyst Craig Irwin initiated coverage on REE Automotive Ltd. (NASDAQ:REE) with a Buy rating and a price target of $14. The analyst highlights REE's potential in billion-dollar markets and expects significant revenue growth and positive EBITDA by FY26. REE's recent partnership with Penske and its innovative REEcorner technology are key factors in its growth strategy.

Portfolio Pulse from Lekha Gupta

May 17, 2024 | 5:34 pm

AMD

MSFT

NVDA

SHOC

SMH

Nvidia Corp (NASDAQ:NVDA) stock is trading lower due to reports of Microsoft Corp (NASDAQ:MSFT) considering Advanced Micro Devices, Inc (NASDAQ:AMD) AI chips for its cloud computing clients. Despite this, analysts see strong demand for Nvidia's products, particularly in AI and data centers, and predict continued growth. Investors can gain exposure to Nvidia through EA Series Trust Strive U.S. Semiconductor ETF (NYSE:SHOC) and VanEck Semiconductor ETF (NASDAQ:SMH).

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 4:53 pm

AMPG

DESP

DOCS

DXC

GME

RBC

RDDT

U.S. stocks traded mixed with the NASDAQ Composite slightly down. RBC Bearings shares rose 4% after strong Q4 results. Reddit, Despegar.com, and Doximity saw significant gains due to positive news, while DXC Technology, AmpliTech Group, and GameStop experienced notable declines.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 4:09 pm

GD

General Dynamics Information Technology (GDIT) has secured a $185 million task order to provide cybersecurity services for the U.S. Air Force Civil Engineer Center. The contract includes a one-year base period and four option years.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:01 pm