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GME

HOOD

Market-Moving News for May 17th: GameStop Corporation reveals disappointing Q1 preliminary results, Robinhood Markets gets an upgrade from B of A Securities, and Doximity shares surge following strong Q4 results and positive guidance.

Portfolio Pulse from ryanfaloona@benzinga.com

May 17, 2024 | 12:34 pm

SGBX

Safe & Green Holdings (NASDAQ:SGBX) reported a Q1 EPS of $(4.93), an improvement from $(5.00) YoY, but sales dropped significantly to $1.02M from $5.50M YoY.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:34 pm

ROLL

RBC Bearings projects Q1 FY25 revenue to be between $415.0M and $420.0M, surpassing the estimated $408.0M.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:12 pm

EXP

Eagle Materials plans to modernize and expand its cement plant in Laramie, Wyoming, with a $430M investment, increasing capacity by 50%. The project will reduce costs and CO2 intensity by 20%, with completion expected in the second half of 2026.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:05 pm

MU

Over the past three months, 34 analysts have evaluated Micron Technology (NASDAQ:MU), with a mix of bullish and bearish opinions. Recent ratings show a trend towards more bullish sentiment, with several analysts raising their price targets. The average 12-month price target has increased to $132.62, up from $109.29. Micron has shown significant revenue growth and strong net margins, but faces challenges with ROE and ROA.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 12:01 pm

FBTC

GBTC

IBIT

BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Trust led a $257 million surge in Bitcoin ETFs, indicating strong institutional interest despite JPMorgan's cautious outlook. Grayscale's Bitcoin Investment Trust also saw inflows, though more modest.

Portfolio Pulse from Murtuza Merchant

May 17, 2024 | 12:00 pm

CDNS

Over the past three months, 11 analysts have shared their evaluations of Cadence Design Systems (NASDAQ:CDNS), showing a range of sentiments from bullish to bearish. The average 12-month price target has increased by 2.72% to $322.36. Key financial metrics indicate strong profitability and financial health, despite a recent revenue decline.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 12:00 pm

BABA

ONLN

PGJ

SONY

Alibaba Group Holding Ltd (NYSE:BABA) is leveraging AI to enhance its e-commerce competitiveness despite a shrinking market share. The company introduced Wenwen, an AI chatbot, on its Taobao platform for personalized product recommendations. Despite innovations, Alibaba's market share has dropped significantly, but it reported a 10% net profit increase and 8% revenue growth for the fiscal year ending March. BABA stock has lost over 4% in the last 12 months, but shares traded higher by 1.18% premarket on Friday.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 11:52 am

F

GM

RIVN

TSLA

Chevrolet, a division of General Motors (GM), has unveiled its strategy to surpass Tesla (TSLA) in the electric vehicle market by launching the electric Silverado and Chevy Equinox. Despite a recent drop in EV sales, GM is optimistic about its future in the EV market. The competition in the EV market is intensifying with other legacy automakers like Ford (F) and Rivian (RIVN) also making significant strides.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 11:45 am

GME

GameStop Corporation has revealed its preliminary Q1 results, expecting cash, cash equivalents, and marketable securities to be between $1.073 billion and $1.093 billion, down from $1.310 billion in the prior year. SG&A expenses are expected to be between $290 million and $300 million, a decrease from $345.7 million in the prior year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:29 am