Streetbeat News

Products Services

GOOG

GOOGL

MSFT

Alphabet Inc's (GOOG, GOOGL) shares dropped following reports that OpenAI, backed by Microsoft (MSFT), plans to develop a web search tool to compete with Google. OpenAI's new product may use Microsoft's Bing, challenging Google's dominant market position. Google's search engine significantly contributes to its revenue, with $48.02 billion in the fourth quarter, highlighting the potential impact of competition.

Portfolio Pulse from Adam Eckert

February 15, 2024 | 2:48 pm

CRWD

High-rolling investors have shown a bullish sentiment on CrowdStrike Holdings (NASDAQ:CRWD), with options trading data revealing a significant interest in the stock. Benzinga's options scanner identified 9 notable trades, with a majority being bullish. The trades suggest a price target range of $120 to $400 for CRWD. The company, known for its cloud-based cybersecurity solutions, has seen its stock price slightly increase by 0.26% to $335.43, with an upcoming earnings announcement in 19 days.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 2:47 pm

WIMI

WiMi has developed a technology based on the K-Means algorithm to enhance security and user trust in Bitcoin trading platforms. This innovation aims to improve the safety and reliability of transactions, addressing key concerns in the cryptocurrency trading space.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:31 pm

MMSI

Merit Medical has received FDA 510(k) clearance for its SCOUT MD Surgical Guidance System, marking a significant regulatory milestone for the company.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:27 pm

TVGN

Tevogen Bio Holdings Inc. (NASDAQ:TVGN), a clinical-stage immunotherapy biotech company, has entered into a securities purchase agreement for the sale of Series A Preferred Stock worth $8M to an investor. This move marks the company's transition to a public entity, aiming to advance in virology, oncology, and neurology with affordable T cell therapies. The Series A Preferred Stock, convertible into 2,000,000 common shares, features a 5% annual dividend, increasing annually by 2%, and a call right for the company under certain conditions.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:26 pm

VMAR

Vision Marine Technologies Inc. (NASDAQ:VMAR) unveiled the Phantom, a rotomolded boat, at the Miami International Boat Show 2024, highlighting its economic and environmental benefits. The Phantom, designed for efficiency and affordability, can produce up to 300 units annually at a cost 70% lower than fiberglass alternatives. Vision Marine secured an exclusive distribution deal with Nautical Ventures Marine Group for Florida, including an initial order of 50 units. The Phantom is recyclable, seats up to 10 passengers, and supports both electric and gas motors, making it appealing for a variety of activities.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:19 pm

HCTI

Healthcare Triangle, Inc (NASDAQ:HCTI) announced strategic cost reduction initiatives aimed at achieving profitability, with expected annualized savings of $3M-$4M in FY24. These initiatives include enhancing platform portfolios, reducing SG&A costs, streamlining leadership, adjusting market focus, and improving process efficiencies to boost gross margins and optimize operations.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:18 pm

NVDA

Nvidia has announced an upgrade to its GeForce NOW service, allowing users to play games at ultimate quality. This includes titles like 'Skull and Bones' and 'Halo Infinite'.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:13 pm

LUNR

The IM-1 Mission Nova-C lunar lander is currently on its way to the Moon following a successful launch by SpaceX's Falcon 9 rocket. This marks a significant milestone in lunar exploration and showcases the capabilities of SpaceX's launch technology.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:12 pm

ALL

The Allstate Corporation (NYSE:ALL) reported estimated catastrophe losses of $276 million for January 2024, with $218 million after-tax. The losses were mainly due to two events, offset by favorable reserve reestimates. Allstate has implemented rate increases for auto and homeowners insurance, expected to raise annualized written premiums by $363 million and $40 million, respectively. This has led to a 12.1% increase in homeowners insurance average gross written premium compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 2:10 pm