Streetbeat News

Revenues

SPY

USA housing starts for June came in at 1.353 million, surpassing the estimated 1.300 million and the revised prior figure of 1.314 million.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:30 pm

SPY

Building permits for June came in at 1.446 million, surpassing the estimated 1.4 million. This indicates a stronger-than-expected housing market.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:30 pm

FTXO

IAT

USB

U.S. Bancorp (NYSE:USB) reported its Q2 FY24 earnings, showing a dip in net interest income but growth in fee income. Revenue was $6.867 billion, beating expectations. Net interest income fell 8.9% Y/Y, while non-interest income rose 3.3% Y/Y. Adjusted EPS was $0.98, beating the consensus of $0.94. The provision for credit losses decreased by 30.8% Y/Y. USB shares are up 1.41% premarket.

Portfolio Pulse from Lekha Gupta

July 17, 2024 | 12:29 pm

FDIS

TSLA

XLY

Tesla Inc (NASDAQ:TSLA) has extended the delivery wait times for its Model 3 sedan in China to 3-5 weeks. The Model Y's delivery time remains unchanged. Tesla's Shanghai factory, which produces both models, has an annual production capacity of over 950,000 units. Tesla sold 59,261 vehicles in China in June, a decrease from last year but an increase from May. Tesla's stock has lost over 11% in the last 12 months. Investors can gain exposure to Tesla via ETFs like XLY and FDIS.

Portfolio Pulse from Shivani Kumaresan

July 17, 2024 | 12:25 pm

OXBR

Oxbridge Re Holdings Limited (Nasdaq: OXBR) announced a strategic collaboration with Zoniqx to expand the footprint of its subsidiary, SurancePlus, by leveraging blockchain technology to tokenize reinsurance contracts. SurancePlus also completed a private placement raising approximately $2.88 million.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:21 pm

NTCT

NETSCOUT SYSTEMS, INC. (NASDAQ:NTCT) has launched a new suite of Business Edge Observability products aimed at enhancing performance management for networks, applications, and user experience. These products, including the nGenius Edge Sensor and Remote InfiniStreamNG solutions, are designed to provide IT observability for remote locations, helping to mitigate risks and reduce Mean Time to Repair (MTTR).

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:17 pm

LI

NIO

TSLA

Li Auto Inc. (NASDAQ:LI) shares are trading marginally lower due to China's softer-than-expected Q2 GDP growth. Li Auto is investing in AI technology for autonomous driving, following NIO Inc. (NYSE:NIO). The company has formed a specialized team and is expanding its computing power. Tesla, Inc. (NASDAQ:TSLA) has set a precedent with its FSD V12 release, influencing other companies.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2024 | 12:15 pm

OKLO

Oklo has successfully completed the first end-to-end demonstration of an advanced fuel recycling process in collaboration with Argonne and Idaho National Laboratories. This marks a significant step toward scaling fuel recycling capabilities and deploying a commercial-scale facility to enhance advanced reactor fuel supplies and cost-effectiveness.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:14 pm

NVDA

PFE

TMO

CytoReason has secured $80 million in funding from OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific to expand its AI disease models and establish a U.S. hub in Cambridge, Massachusetts. This investment aims to enhance R&D efficiency and decision-making for partner companies.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:13 pm

VCNX

Vaccinex, Inc. (NASDAQ:VCNX) will present topline data from its phase 1b/2 SIGNAL-AD trial of pepinemab for Alzheimer's disease at the Alzheimer's Association International Conference in Philadelphia from July 28 to August 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 12:11 pm