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COIN

Coinbase shares are trading lower following reports that CME plans to launch Bitcoin trading.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 6:30 pm

BNBUSD

ETHUSD

SOLUSD

Political-themed meme coins like TRUMP and BODEN are gaining traction as the 2024 U.S. presidential elections approach. Former House Speaker Nancy Pelosi criticized a potential debate between President Biden and former President Trump. TRUMP is expected to break its $10 resistance, while BODEN may rebound. TRUMP has raised $1.5 million for charity and aims to be among the top three meme coins.

Portfolio Pulse from Khyathi Dalal

May 16, 2024 | 6:28 pm

AGIO

CRBP

CRBU

At the RBC Global Healthcare Conference, Chris McCarthy highlighted biotech companies with upcoming data readouts that could lead to significant stock movements. Key companies mentioned include Agios Pharmaceuticals (AGIO), Caribou Biosciences (CRBU), and Corbus Pharmaceuticals (CRBP).

Portfolio Pulse from Vandana Singh

May 16, 2024 | 6:21 pm

SONY

UMGNF

WMG

Sony Group Corp's Sony Music Group has warned AI companies and music streaming services against using its content for AI training without explicit authorization. This move aims to protect intellectual property and ensure rightful compensation for artists. Universal Music Group and Warner Music Group have also taken similar stances.

Portfolio Pulse from Shivani Kumaresan

May 16, 2024 | 6:18 pm

MGNI

Magnite shares are trading higher after Netflix announced plans to launch an in-house advertising technology platform by the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 6:17 pm

SPR

Spirit AeroSystems has announced a workforce reduction in Wichita due to a slowdown in commercial program deliveries. Affected employees will be informed in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 6:15 pm

BND

EMB

JNK

LQD

TLT

The bond market is experiencing a major trend shift as key Treasury yields test the 200-day moving average support, driven by benign economic data and expectations of Federal Reserve rate cuts. Five bond ETFs, including TLT, BND, LQD, JNK, and EMB, are poised to benefit from this trend.

Portfolio Pulse from Piero Cingari

May 16, 2024 | 5:55 pm

SNOW

Analysts from Piper Sandler and KeyBanc reiterated their Overweight ratings on Snowflake Inc (NYSE:SNOW) despite concerns about the adoption of Iceberg tables. The analysts noted that Iceberg adoption is still in its early stages and that broader enterprise adoption could be further out. They projected first-quarter revenue and EPS for Snowflake and highlighted positive usage trends and new product launches as potential growth drivers.

Portfolio Pulse from Anusuya Lahiri

May 16, 2024 | 5:47 pm

AMC

COIN

DIA

GME

KWEB

WMT

The Dow Jones Industrial Average surpassed 40,000 points, marking a historic milestone. Chinese tech stocks, represented by the KraneShares CSI China Internet ETF (KWEB), reached 15-month highs. Meme stocks like GameStop (GME) and AMC Entertainment (AMC) experienced significant declines. Walmart (WMT) surged 6.5% after strong earnings, while Coinbase (COIN) fell over 8% amid a broader cryptocurrency market drop. Berkshire Hathaway's purchase of Chubb Limited (CB) shares led to a 4% rise in CB's stock.

Portfolio Pulse from Piero Cingari

May 16, 2024 | 5:44 pm

MSFT

Microsoft is set to introduce its custom Cobalt chips to its Azure cloud platform next week. This move is expected to enhance Azure's performance and competitiveness in the cloud market.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 5:42 pm