Streetbeat News

Products Services

AAPL

FXI

Market sources in China report a significant drop in iPhone unit sales post-Lunar New Year, leading Apple to implement rare pricing cuts.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:06 pm

AMCX

NFLX

VZ

Verizon announced a new streaming bundle for customers combining select home internet and 5G mobile plans, offering Netflix Premium and AMC+ Ad-Free for $25.99/month, a savings of $5.99 monthly. This deal, available until March 31, is part of Verizon's strategy to provide exclusive offers and savings, highlighted in a new ad campaign featuring Tony Hale. Customers can also save up to $300 a year on their home internet bill by combining services. The promotion underscores Verizon's commitment to delivering value and exclusive content deals through its +play platform.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:03 pm

LKNCY

SBUX

Baicha Baidao Industrial Co. Ltd., operating as Chabaidao, has filed for an IPO in Hong Kong, aiming to capitalize on its rapid growth in China's premium tea market. With a 34.8% revenue increase in 2023 to 5.7 billion yuan and a consistent profit over the past three years, Chabaidao plans to expand by targeting lower-tier cities, moving overseas, and diversifying into coffee. The company, a top-three player in China's tea market, faces stiff competition in a saturating market but has outlined strategies for continued growth.

Portfolio Pulse from The Bamboo Works

February 28, 2024 | 3:01 pm

AAPL

Analyst Ming-Chi Kuo reports a significant slowdown in U.S. market demand for Apple's Vision Pro, with shipping times improved to 3-5 days indicating decreased demand. Despite this, U.S. shipments are expected to exceed Apple's original estimates. Global release is dependent on regulatory compliance, with a potential launch in more countries before WWDC. Supply chain production has expanded slightly, but Vision Pro remains a niche product. The return rate is under 1%, with some returns due to setup issues. Apple is predicted to focus on production efficiency rather than spec changes for the next Vision Pro model, with significant spec changes not expected until 2027. Vision Pro's impact on Apple and supplier share prices is considered limited, with its transition to a mass-market product dependent on applications, price, and comfort improvements.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:52 pm

ACB

Aurora Cannabis Inc. (NASDAQ:ACB) has announced a partnership with Script Assist, a UK-based medical cannabis prescription platform. This collaboration will introduce Aurora's medical cannabis products, including three new cannabis flower products, to the UK market through Script Assist. The partnership aims to improve access and provide valuable information to medical cannabis patients in the UK. Aurora's shares saw a 2.4768% increase to $3.31 after the announcement.

Portfolio Pulse from Jelena Martinovic

February 28, 2024 | 2:50 pm

DDD

F

MSTR

TSLA

Bitcoin's surge to $59K led to $71M in short squeezes, boosting meme coins like Dogecoin, Shiba Inu, and Floki, pushing their market cap to $26.5B. MicroStrategy's stock is predicted to hit $990 amid a Bitcoin rally to $125K. In US markets, 3D Systems reported downbeat Q4 results, affecting pre-market session movements. Cox Enterprises is set to acquire OpenGov for $1.8B. Tesla shows premarket gains, while Ford recalls 63K trucks. Viatris partners with Idorsia for heart attack treatments, and PNM Resources and AEP complete a solar venture sale.

Portfolio Pulse from Akanksha Bakshi

February 28, 2024 | 2:46 pm

VKTX

Viking Therapeutics (NASDAQ:VKTX) has seen a mix of bullish and bearish options trading, with a recent trend towards bearish sentiment. Despite this, the stock price is up 5.7% at $89.9. Analysts have varied target prices, with an average of $81.2. The company specializes in biopharmaceutical development for metabolic and endocrine disorders.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 2:46 pm

GOGO

Gogo Inc (NASDAQ:GOGO) reported a Q4 fiscal 2023 revenue decline of 10% year-on-year to $97.8 million, surpassing the consensus of $96.5 million. EPS was $0.11, aligning with consensus. Service revenue grew 5% Y/Y, while equipment revenue fell 45% Y/Y. Adjusted EBITDA declined 24% Y/Y to $35.1 million. The company anticipates significant improvements with the launch of Gogo Galileo and Gogo 5G, expecting FY24 revenue of $410 million to $425 million. GOGO shares dropped 0.69% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 2:41 pm

MDXXF

TRUFF

Red Light Holland Corp. (OTCQB:TRUFF) and PharmAla Biotech Holdings (OTC:MDXXF) are collaborating on psilocybin research and product development. Red Light Holland has received a permit allowing CCrest Labs to import 5kg of its natural psilocybin truffles for R&D, aiming to develop clinical-grade psilocybin drug products. The collaboration also includes potential sales agreements for global markets. Additionally, Red Light Holland is expanding its non-psychedelic mushroom business in North America, with plans to build a large production facility in Peterborough, Ontario.

Portfolio Pulse from Lara Goldstein

February 28, 2024 | 2:33 pm

IXHL

Incannex shares are trading higher following the announcement that its Psi-GAD1 trial met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:28 pm