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AMC

FFIE

GME

Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has seen a significant surge in its stock price, rising 33% to $2.20 per share. This comes after a 134% increase the previous day and a 52.6% rise in pre-market trading. The rally is driven by retail investor interest and social media buzz, despite the company's financial challenges and risk of delisting. The stock is trading above its 5, 20, and 50-day moving averages, but analysts caution that it may soon become overbought.

Portfolio Pulse from Surbhi Jain

May 17, 2024 | 5:59 pm

PFE

Pfizer expressed disappointment over the European Patent Office's decision to maintain Moderna's European Patent EP3590949 B1. Pfizer is considering all legal options and may appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 5:40 pm

PGR

Progressive Corporation has filed a mixed securities shelf with the SEC, though the size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 5:25 pm

ARKK

COIN

The cryptocurrency community is speculating on Ethereum's potential rebound ahead of the SEC's decision on spot Ethereum ETFs on May 23. Traders have mixed views, with some seeing technical patterns and sentiment as potential buy signals, while others remain cautious. The approval of an Ethereum ETF could significantly impact Ethereum's price by unlocking new capital inflows and providing regulatory clarity.

Portfolio Pulse from Khyathi Dalal

May 17, 2024 | 5:23 pm

DTEGF

DTEGY

Germany is close to deciding on a ban of Huawei and ZTE components from its 5G core network by 2026 due to national security concerns. The decision is supported by three out of four relevant ministries, with the digital ministry opposing it. Deutsche Telekom AG has stated that the ban is impractical.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 5:02 pm

COIN

BofA Securities analyst Mark McLaughlin upgraded Coinbase Global, Inc (NASDAQ:COIN) to Neutral from Underperform, raising the price forecast to $217 from $110. The upgrade is driven by retail reengagement in crypto, operating leverage from expense cuts, and a more robust market environment. Risks include regulatory overhang and dependence on transaction revenue.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 4:38 pm

MSFT

The Pentagon is considering expanding its use of Microsoft software, specifically upgrading to Microsoft's E5 licenses, to support its zero trust security strategy. This move has raised concerns among competitor cybersecurity and software vendors. The transition is expected to be completed by June 2025.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:30 pm

CCJ

URG

UUUU

Shares of uranium stocks are trading higher following reports that the US will offer up to $3.4 billion for domestic uranium enrichment. Additionally, President Biden has signed a bill banning Russian uranium imports.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:23 pm

COIN

ETHE

Coinbase Research suggests that the likelihood of approval for a U.S. spot Ethereum ETF is higher than current market pricing indicates, estimating a 30-40% chance. This could unlock new capital inflows for Ethereum, despite competition from other layer-1s like Solana.

Portfolio Pulse from Murtuza Merchant

May 17, 2024 | 4:17 pm

SPY

Fed Chair Powell has tested positive for COVID-19 and is experiencing symptoms. He is working from home and staying away from others.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:49 pm