Streetbeat News

Products Services

AMPE

GCO

POLA

Genesco Inc. shares fell by approximately 20% following their quarterly results. The article also lists other stocks that moved significantly in Friday's mid-day session, categorizing them as gainers and losers. Notable gainers include Harbor Custom Development, Altimmune, and Elastic N.V., which rose due to positive trial results, financial results, and guidance, respectively. Among the losers, Polar Power experienced a significant drop after pricing a public offering, and Ampio Pharmaceuticals fell after a previous surge. The article provides a snapshot of the mid-day stock movements, highlighting the volatility and market reactions to company-specific news and broader market trends.

Portfolio Pulse from Lisa Levin

December 01, 2023 | 5:04 pm

MRVL

Marvell Technology (NASDAQ:MRVL) received positive analyst ratings post Q3 financial results, with a strong focus on its AI capabilities in data centers. Six analysts maintained or adjusted their ratings, with price targets ranging from $60 to $75. The consensus is that Marvell's AI data center revenue could exceed $800M in 2024. Despite some segments underperforming, the AI and data center segments are expected to drive growth, with the company well-positioned to benefit from the tech sector's rapid AI adoption. Marvell shares are down 5% but have risen 55% YTD in 2023.

Portfolio Pulse from Chris Katje

December 01, 2023 | 4:59 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TLT

TSLA

USO

The stock market experienced its second-best November since the 1980s, largely due to rising bond prices as indicated by the iShares 20 Plus Year Treasury Bond ETF (TLT), and amplified by market mechanics. Investors are advised to watch for a potential break above the lower resistance zone in bonds, which could trigger another stock market rally. Jerome Powell's speech in Atlanta is anticipated, with the market looking for indications on interest rate cuts. If Powell supports the market's rate cut projections, a significant rally is expected; if he contradicts them, a pullback is likely. Early trade money flows are negative for major tech stocks and ETFs like SPY and QQQ. The momo crowd is buying stocks and gold, while smart money activity is undisclosed. Oil trading is volatile due to OPEC+ uncertainties, and Bitcoin is showing a positive bias, potentially aiming to break above $40,000.

Portfolio Pulse from The Arora Report

December 01, 2023 | 4:37 pm

CLSK

CleanSpark, Inc. (NASDAQ:CLSK) shares have surged over 75% in the past month, with a significant 19.6% increase on heavy trading volume following their latest Bitcoin mining update. The company reported mining 666 Bitcoin in November and a total of 6,671 Bitcoin in 2023. They sold 402 Bitcoin in November and currently hold 2.575 Bitcoin. CEO Zach Bradford highlighted improved efficiency and increased production from fees, hinting at potential revenue growth from Bitcoin's expanding use cases.

Portfolio Pulse from Erica Kollmann

December 01, 2023 | 4:34 pm

GM has announced that it is well positioned to maintain EV tax incentives for many of its electric vehicles in 2024 and beyond, following recent U.S. regulatory guidance. This statement suggests that GM's EV models will likely meet the criteria set by the U.S. government to qualify for consumer tax credits, which are designed to encourage the adoption of electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 4:29 pm

FSR

Fisker Inc (NYSE:FSR) is implementing strategies to increase deliveries, including expanding its real estate footprint and accelerating deliveries in the U.S. and Europe. The company delivered 123 vehicles as of Nov. 30 and opened its first Fisker Lounge in NYC. Fisker partnered with Boxer Property for delivery logistics and is enhancing ownership experiences with upcoming leasing solutions. Discussions are underway to sell emission credits and a pooling agreement is in place in Europe. Fisker plans to introduce new features like improved SolarSky roof and torque split in Q1 2024. The company revised its 2023 production guidance to over 10,000 units, reducing December production to prioritize liquidity and unlock over $300 million in working capital. FSR shares rose 1.90% to $1.61 in premarket trading.

Portfolio Pulse from Lekha Gupta

December 01, 2023 | 4:27 pm

The NHTSA has initiated an investigation into approximately 73,000 Chevrolet Volt vehicles, produced by General Motors Company (NYSE:GM), for reports of sudden power loss and other issues in models from 2016 to 2019. General Motors had previously issued a technical service bulletin for the issue but has not initiated a formal recall. GM shares were trading higher by 1.52% at $32.08 on the last check Friday.

Portfolio Pulse from Shivani Kumaresan

December 01, 2023 | 4:22 pm

CANC

HRTS

LUX

MSFT

ROYA

RSHO

TOLL

Tema ETFs is revolutionizing thematic investing by focusing on long-term structural trends and precise security selection, avoiding short-term market fads. Yuri Khodjamirian, CFA, highlighted Tema's approach during Benzinga's 'ETFs Unlocked' session. Tema ETFs, with six funds in the market, emphasizes quality and alignment between themes and securities, as seen in their ETFs targeting reshoring in the U.S. (RSHO), cardio-metabolic diseases (HRTS), and luxury goods (LUX). The company also offers ETFs focused on oncology (CANC), global royalties (ROYA), and monopolies and oligopolies (TOLL).

Portfolio Pulse from Piero Cingari

December 01, 2023 | 4:14 pm

Electronic Arts (EA) has announced the open-sourcing of IRIS, a photosensitivity analysis tool, and the pledging of four additional accessibility-related video game patents. IRIS helps identify potential photosensitivity issues in games, benefiting players with epilepsy or similar conditions. The tool is already used in EA SPORTS titles and will be expanded to more content. EA's patent pledge allows free access to patented accessibility technologies, supporting players with disabilities and promoting inclusive gaming. The patents cover systems for automated player control, adaptive tutorials, route navigation, and personalized coaching. EA's initiatives, including the accessibility portal and previous patent pledges, have been positively received by the gaming community.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 4:13 pm

AMZN

CRM

Salesforce Inc (CRM) reported an 11% YoY increase in Q3 revenue to $8.72 billion and an adjusted profit of $2.11 per share, surpassing Wall Street expectations. Shares rose by 10% following the report. Salesforce is expanding its AI partnership with Amazon.com Inc (AMZN), integrating Amazon Bedrock into its services. Salesforce's largest units saw revenue growth, and it raised its fiscal 2024 operational cash flow growth guidance from 30% to 33%. The company is also forecasting a 10% revenue increase for Q4 and an 11% YoY rise for the full fiscal year.

Portfolio Pulse from Upwallstreet

December 01, 2023 | 4:12 pm