Streetbeat News

Products Services

ANPCY

AZN

ANGLE has signed a supplier agreement with AstraZeneca to develop a Parsortix-based androgen receptor (AR) detection assay for prostate cancer studies, valued at £550,000. The development will occur in ANGLE's UK labs, aiming for completion in Q1 2025. Success could highlight Parsortix's role in evaluating prostate cancer treatments and promise ongoing business for ANGLE in supporting clinical studies.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:06 am

AAPL

AXL

COIN

FLR

HSY

U.S. stock futures are trading higher with focus on Apple, Hershey, American Axle, Coinbase, and Fluor due to earnings reports and corporate actions. Apple announced a $110-billion stock buyback and a dividend increase after reporting strong Q2 results. Hershey, American Axle, and Fluor are anticipated to release their earnings, with Hershey expected to report $2.76 EPS on $3.11 billion revenue. Coinbase reported higher sales for Q1 and projected Q2 subscription and services revenue between $525 million to $600 million.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 6:46 am

ARKB

COIN

FBTC

HODL

Coinbase Global Inc. (NASDAQ:COIN) reported significant growth in Q1 2024, attributed to the excitement around Bitcoin ETFs, leading to all-time highs in trading volume and active clients, especially in its institutional business. The launch of Bitcoin spot ETFs like ARK 21Shares Bitcoin ETF (BATS:ARKB), Fidelity Wise Origin Bitcoin Fund (BATS:FBTC), and VanEck Bitcoin Trust (BATS:HODL) contributed to this surge. Coinbase's revenue and institutional trading volume reached record levels, with total revenue of $1.64 billion, surpassing estimates. The company's stock surged over 300% in the past year, outperforming Bitcoin's 103.13% increase.

Portfolio Pulse from Kaustubh Bagalkote

May 03, 2024 | 4:05 am

VUZI

Block Inc. (NYSE:SQ) CEO Jack Dorsey addressed a potential DOJ investigation into Bitcoin transactions linked to sanctioned countries during the company's Q1 earnings call. Dorsey highlighted the company's proactive compliance measures, including a thorough review of transactions, real-time screening with blockchain analytics, and maintaining restrictive withdrawal limits. Despite facing scrutiny over allegations of processing transactions for terrorists, Block Inc. reported strong Q1 earnings, leading to a 7.80% surge in after-hours trading. Dorsey also mentioned new features for Square merchants and developments in Bitcoin mining.

Portfolio Pulse from Kaustubh Bagalkote

May 03, 2024 | 3:30 am

AAPL

AMZN

GOOGL

Following Apple's Q2 2024 earnings call, Dogecoin co-creator Billy Markus and tech YouTuber Marques Brownlee criticized Siri's performance. Markus suggested Siri could improve with a competent GPT integration. Despite efforts to enhance Siri with AI, it remains behind Google Assistant and Amazon's Alexa in user satisfaction. Apple is rumored to unveil an upgraded Siri at the WWDC in June 2024.

Portfolio Pulse from Ananya Gairola

May 03, 2024 | 3:30 am

AAPL

AMGN

COIN

TSLA

Apple, Coinbase, Block, Amgen, and Tesla stocks were in focus following their latest financial results and strategic moves. Apple announced a $110-billion stock buyback and a dividend increase after beating Q2 expectations. Coinbase's Q1 results exceeded estimates with record institutional trading volume. Block reported strong Q1 earnings, surpassing analyst expectations. Amgen's Q1 earnings also beat estimates with a significant sales increase. Tesla slightly rose after reports of abandoning its gigacasting manufacturing process amid challenges.

Portfolio Pulse from Benzinga Neuro

May 03, 2024 | 3:07 am

AAPL

Apple Inc. (NASDAQ:AAPL) CEO Tim Cook described China as the most competitive market following a decline in quarterly revenue to $90.75 billion, attributed to a 10.5% drop in iPhone sales. Despite the overall decline, iPhone sales in Mainland China grew, with the iPhone 15 and iPhone 15 Pro Max being the top-selling smartphones in Urban China. Cook remains optimistic about China's long-term prospects, highlighting the recent opening of a new store in Shanghai. Apple's Q2 earnings exceeded forecasts, leading to a $110 billion stock buyback program and a slight increase in its quarterly dividend, resulting in a 3.5% rise in its stock.

Portfolio Pulse from Ananya Gairola

May 03, 2024 | 2:48 am

AAPL

Apple Inc. CEO Tim Cook hinted at significant AI developments in 2024 during the Q2 earnings call, emphasizing substantial investments in AI technologies without providing specifics. Cook highlighted Apple's strengths in hardware, software, and privacy, and mentioned AI's role in enhancing Apple Watch features. Apple's Q2 2024 revenue was $90.8 billion, a 4% decrease from the previous year. The company's AI strategy, including potential collaborations with OpenAI and Google, is highly anticipated, with the WWDC developer conference expected to reveal more.

Portfolio Pulse from Ananya Gairola

May 03, 2024 | 2:08 am

AAPL

Apple, Inc. (AAPL) reported fiscal year 2024 Q2 results surpassing expectations, leading to a 7%+ stock price rally. The positive outcome was attributed to earnings in line with forecasts, optimistic June quarter revenue guidance by CEO Tim Cook, a smaller-than-expected decline in China sales, and a massive $110 billion buyback program. CFO Luca Maestri confirmed the guidance, expecting single-digit revenue growth despite forex impacts, and projected double-digit Services revenue growth. Apple plans to integrate generative AI into its products and expand into new markets, while the DOJ probe remains an overhang.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 2:02 am

AAPL

Jim Cramer praised Apple's Vision Pro, highlighting its success with Fortune 100 companies and potential in B-to-B markets. Despite its high price and initial consumer market challenges, the product has seen enthusiasm from enterprises, with over half of the Fortune 100 companies purchasing units. Apple CEO Tim Cook and Nvidia CEO Jensen Huang have both expressed optimism about the product's capabilities. However, analysts note challenges in consumer adoption and a reduction in shipment forecasts for 2024.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 1:59 am