Streetbeat News

Products Services

FTXO

KBWB

WFC

Wells Fargo & Company has launched the Signify Business Cash World Elite Mastercard, offering unlimited 2% cash rewards on business purchases with no annual fee. The card is part of an effort to provide simple, valuable tools for small business owners. Wells Fargo recently reported a 17% increase in noninterest income, leading to a beat on first-quarter FY24 earnings estimates. The stock can also be accessed through First Trust Nasdaq Bank ETF (FTXO) and Invesco KBW Bank ETF (KBWB).

Portfolio Pulse from Lekha Gupta

May 13, 2024 | 2:45 pm

DUOL

JPMorgan analyst Bryan M. Smilek maintains an Overweight rating on Duolingo Inc (NASDAQ:DUOL), with a price target suggesting a 46.5% upside. Despite challenges and a stock dip post-Q1 earnings, Smilek highlights solid Q1 results, the revenue potential of Duolingo Max, growth in Adj. EBITDA margins, expansion into new verticals, and Duolingo's strengths against GenAI competition as key reasons for a bullish outlook.

Portfolio Pulse from Surbhi Jain

May 13, 2024 | 2:39 pm

FXI

MCD

McDonald's is actively cooperating with the local market regulator in China to investigate and verify reports of food issues, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:38 pm

ACB

CURLF

TLRY

Germany is advancing its cannabis legalization with plans to open cannabis shops for scientific purposes, while the UK sees higher than expected medical marijuana sales. German shops aim to assess cannabis's impact on health and the black market, with Cannamedical and Demecan leading in Germany's medical cannabis market. Aurora and Tilray are notable international players. The UK's medical marijuana market is growing rapidly, with high per-patient consumption rates. Curaleaf is a key distributor in the UK, where private clinics are expanding treatment options.

Portfolio Pulse from Nina Zdinjak

May 13, 2024 | 2:33 pm

HERO

HUYA

JFWD

HUYA Inc reported Q1 2024 revenue of $208.31 million, surpassing analyst estimates but facing a decline in live streaming revenues. The company saw growth in game-related services and advertising revenues, with a slight increase in mobile MAUs and paying users. HUYA's stock has risen over 36% in the past year, and it is included in the Jacob Forward ETF and Global X Video Games & Esports ETF.

Portfolio Pulse from Anusuya Lahiri

May 13, 2024 | 2:15 pm

TSLA

Tesla Inc. has received a construction permit for a new mega factory in Shanghai's Lingang new area, marking its first energy storage mega factory outside the U.S. This facility is expected to start mass production in Q1 2025, aiming to produce 10,000 Megapack units annually, which equates to nearly 40 GWh of energy storage. The Megapack is designed to provide substantial energy storage and support, contributing to grid stabilization and outage prevention.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:13 pm

MSFT

Xbox President Sarah Bond discussed the closure of four Microsoft studios, emphasizing the necessity for the long-term health of the Xbox business. The closures are part of a broader strategy to navigate industry transitions, despite the gaming community's shock and concerns over stagnant growth and rising development costs. Microsoft's recent acquisitions and the challenges facing its gaming business, including declining revenue and stagnant subscriber growth, underscore the strategic decisions behind studio closures.

Portfolio Pulse from Franca Quarneti

May 13, 2024 | 2:12 pm

PHG

The FDA has announced that Philips Respironics is recalling its Trilogy Evo Continuous Ventilators due to a potential power malfunction related to software issues. This recall highlights a significant safety concern that could impact patient care and reflects on Philips' commitment to product safety and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:11 pm

GOOG

GOOGL

HPQ

Alphabet announced its plans to bring its Starline project out of the lab, partnering with HP to start commercializing the experience in 2025. This move marks a significant step towards bringing advanced communication technologies to the market, leveraging Alphabet's innovative capabilities and HP's commercial reach.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:09 pm

RTX

Pratt & Whitney Canada's PW545D engine, part of RTX, received Transport Canada Civil Aviation type certification, marking a step closer to powering Textron Aviation's Cessna Citation Ascend business jet. The engine offers improved fuel efficiency, greater thrust, and longer periods between overhauls.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 2:04 pm