Streetbeat News

Regulatory

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares surged 64% after receiving a conditional commitment for a $1.66 billion loan guarantee from the Department of Energy to finance up to six green hydrogen production facilities. This move aligns with the Biden Administration's Justice 40 Initiative and marks a significant step in Plug Power's expansion of its green hydrogen network in the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 1:26 pm

FSLR

NOVA

RUN

SEDG

Shares of solar companies such as First Solar (FSLR), Sunnova Energy (NOVA), Sunrun (RUN), and SolarEdge Technologies (SEDG) are trading higher after the Biden administration announced an increase in tariffs on Chinese solar panels.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:21 pm

BABA

BEKE

FUTU

PDD

TME

US-listed Chinese stocks, including Alibaba, BEKE, FUTU, JD, LI, PDD, and TME, are trading lower following Alibaba's mixed Q1 earnings and expectations of increased tariffs by Biden targeting Chinese sectors.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:12 pm

GME

SPWR

SunPower Corp (NASDAQ:SPWR) shares surged as high short-interest stocks rallied, influenced by Keith Gill's return to social media and the Biden administration's tariff increase on Chinese solar panels. Gill, known for initiating the 2021 meme stock craze, posted on X, leading to a spike in GameStop (NYSE:GME) and similar stocks. SunPower's short float is notably high at 59.04%, making it a target for traders. Additionally, the U.S. is doubling the import tax on Chinese solar cells to 50%, aiming to protect domestic industries.

Portfolio Pulse from Adam Eckert

May 14, 2024 | 1:03 pm

SVRE

SaverOne 2014 Ltd. (NASDAQ:SVRE) has been awarded a new European patent, EP3158718, for its 'System and Methods to Facilitate Safe Driving'. This patent covers the company's innovative technology that uses machine learning and channel fingerprinting to selectively block certain mobile phone functions for drivers, aiming to enhance road safety by reducing distractions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:48 pm

DIA

QQQ

SPY

Major stock indexes experienced a decline due to hotter-than-expected economic data, suggesting potential inflation concerns that could influence future monetary policy decisions. This situation has led to increased market volatility and investor caution.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:38 pm

DVAX

The FDA issued a Complete Response Letter to Dynavax, indicating that the sBLA for its four-dose HEPLISAV-B regimen lacked sufficient data for a full evaluation of effectiveness or safety.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:35 pm

SPY

The S&P 500 index experienced a decline following the release of April's Producer Price Index (PPI) data, which came in hotter than anticipated. This suggests inflationary pressures that could influence the Federal Reserve's monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:33 pm

SPY

The Core Producer Price Index (PPI) for the month increased by 0.5%, surpassing the estimated 0.2%. This indicates higher than expected inflationary pressures at the production level, which could influence future consumer prices and monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:30 pm

HYFM

Hydrofarm Holdings Group, Inc. (HYFM) reported a year-over-year decrease in Q1 sales and gross profit but narrowed its net loss and saw an improvement in adjusted EBITDA. The company remains optimistic about future growth, citing operational productivity and a positive outlook on cannabis rescheduling in the U.S.

Portfolio Pulse from Jelena Martinovic

May 14, 2024 | 12:23 pm