Streetbeat News

Products Services

PDCO

ROVR

VVOS

WOOF

Patterson Companies, Inc. (PDCO) shares fell by 14% after reporting Q2 earnings of $0.50 per share, missing estimates of $0.58 per share, and lowering FY24 adjusted EPS guidance below expectations. The company's sales were $1.65 billion, below the expected $1.70 billion. Other stocks moved in the mid-day session with various companies experiencing significant gains or losses due to various factors such as FDA clearances, earnings reports, acquisition announcements, and public offerings.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 7:02 pm

EWC

GOOG

GOOGL

The Canadian government has reached an agreement with Google to ensure that news remains available in Google's search results. Google has committed to contributing C$100 million to support news businesses across Canada.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:35 pm

INTC

NVDA

SSNGY

TSM

NVIDIA Corporation's CEO, Jensen Huang, stated that the U.S. may take up to two decades to achieve independence from foreign chip manufacturing. At the DealBook conference, he highlighted the global dependency of NVIDIA's supply chain and the impracticality of U.S. supply chain independence in the short term. Despite U.S. efforts to localize chip production, Huang emphasized NVIDIA's commitment to China, its largest market, and the need to develop new chips that comply with U.S. regulations for export. Leading chipmakers like TSMC, Samsung, and Intel are expanding their U.S. operations. NVIDIA's stock (NVDA) saw a slight increase of 0.74% to $481.75.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 6:34 pm

ABBV

AbbVie Inc (NYSE:ABBV) reported positive Phase 2 trial results for Teliso-V in treating a subtype of advanced/metastatic nonsquamous non-small cell lung cancer (NSCLC) patients. The study showed an overall response rate of 35% in c-Met High and 23% in c-Met Intermediate patients, with median overall survival of 14.6 and 14.2 months, respectively. The safety profile was consistent with previous findings, and no new safety concerns were identified. AbbVie's stock rose 0.60% to $138.91.

Portfolio Pulse from Vandana Singh

November 29, 2023 | 6:21 pm

BIDU

Goldman Sachs analyst Lincoln Kong has reiterated a Buy rating on Baidu, Inc (NASDAQ:BIDU) with a price target of $174, citing the company's focus on AI investments and cost discipline. Baidu's ad business is expected to see a high-single-digit year-on-year recovery in Q4 2023, with additional AI revenue. The cloud service is projected to recover with double-digit revenue growth in Q4 2023. The company's core margin is expected to remain stable in 2024, and Q4 revenue and net profit are projected at RMB35.65 billion and RMB6.44 billion, respectively. BIDU shares were down 1.18% at $118.22 on the last check.

Portfolio Pulse from Anusuya Lahiri

November 29, 2023 | 6:14 pm

ETHUSD

On Tuesday, 8,496.22 Ether (ETH) valued at approximately $17.3 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -10.07% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 6:00 pm

PBLA

Panbela Therapeutics' stock is trading higher following a recommendation from the independent Data Safety Monitoring Board to continue its study without modification.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:56 pm

AMC

CNK

IMAX

AMC Entertainment Holdings is set to release 'Renaissance: A Film by Beyonce,' expected to gross $40 million worldwide in its opening, following the success of Taylor Swift's concert film. The film will be shown in premium formats, including IMAX theaters, and will also be available at Cinemark Holdings locations. These releases, part of AMC's Q4 earnings, could significantly impact the company's financial results, especially with the Swift film grossing $250 million. AMC's stock is up 5.22% but down 80% YTD.

Portfolio Pulse from Chris Katje

November 29, 2023 | 5:54 pm

RDHL

Redhill Biopharma Ltd. (NASDAQ:RDHL) stock has surged approximately 700% over the last five days following the FDA's grant of five years' market exclusivity for its drug, Talicia, in addition to three years' exclusivity for the drug's approval. Talicia, a therapy for H. pylori infection, is protected by intellectual property until 2034. RDHL's trading volume has significantly exceeded its 100-day average, with over 67 million shares traded in a session. The stock is currently trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 5:39 pm

SONY

Sony Group Corp.'s PlayStation exclusive Marvel's Spider-Man 2, released on Oct. 20, had significant content cuts before launch, particularly scenes involving Venom. Voice actor Tony Todd revealed at Fan Expo 2023 that only about 10% of his recorded Venom dialogue was used in the final game. Despite this, the game has been successful, becoming the fastest-selling PlayStation Studios game on PS5. The cuts hint at potential future DLC or sequels involving Venom.

Portfolio Pulse from Franca Quarneti

November 29, 2023 | 5:34 pm