Streetbeat News

Revenues

HOOD

Robinhood Markets reported that trading volumes in November were similar to October 2023 for equities and options, but higher for cryptocurrencies. The company also saw an increase in Net Cumulative Funded Accounts (NCFA), reaching 23.3 million by the end of November, which is an increase of about 20 thousand from the previous month.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:08 pm

GENC

Gencor Industrials reported a decrease in Q4 2023 revenue to $20.9M from $23.1M in the same quarter the previous year, indicating a year-over-year decline.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:05 pm

BAC

WFC

Bank of America Corp (BAC) and Wells Fargo & Co (WFC) shares are trading higher after the Federal Reserve left rates unchanged, with expectations of rate cuts in 2024-2026. Lower interest rates can boost borrowing and spending, potentially increasing demand for financial products and benefiting bank revenues. The Fed kept the federal funds rate steady and will base future policy on upcoming data.

Portfolio Pulse from Henry Khederian

December 13, 2023 | 8:57 pm

COIN

JPM

Bitwise predicts significant milestones for the cryptocurrency industry in 2024, including Bitcoin reaching new highs, the launch of a spot Bitcoin ETF, and the halving of Bitcoin supply. Stablecoins may overtake Visa in transaction volume, Coinbase's revenue is expected to double, and JPMorgan may launch a tokenized fund. Ethereum's revenue could triple, and AI assistants might start using crypto for payments. Decentralized prediction markets and Ethereum's network upgrade could drive further growth. Taylor Swift may enter the NFT space, and more financial advisors could allocate crypto in client accounts.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 8:30 pm

EMKR

EMCORE Corporation's stock is trading lower following the release of their Q4 financial results and Q1 revenue guidance, which fell short of analyst expectations.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:45 pm

APO

FTCH

Shares of Farfetch Limited (NYSE:FTCH) surged after reports of potential emergency funding talks with Apollo Global Management, Inc. (NYSE:APO) and other firms. The exact terms and amount of funding are unclear, but Farfetch may need up to $500 million. The company, which has struggled post-pandemic with a significant Q2 loss, has also attracted investment from Point72 and Steven A. Cohen. Farfetch has refrained from providing forecasts and plans to update the market soon.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 7:18 pm

NVAX

PFE

Novavax Inc (NASDAQ:NVAX) shares hit a new 52-week low of $5.08, dropping 4.4% amid broader declines in COVID vaccine stocks following Pfizer Inc.'s FY24 guidance. Pfizer's forecast suggests a potential saturation in the COVID vaccine market, which could imply slower growth or lower revenues for other vaccine manufacturers like Novavax. Pfizer's guidance includes projections from the Seagen Inc acquisition but still falls short of the consensus estimate of $63.17 billion.

Portfolio Pulse from Henry Khederian

December 13, 2023 | 7:15 pm

LPTV

Loop Media's stock price is down following the announcement of Q4 revenue results that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:58 pm

DAL

Delta Air Lines is preparing to welcome nearly 9 million passengers during the winter holiday travel period from Dec. 21 to Jan. 7, following a strong performance in November and a smooth Thanksgiving period. The airline experienced zero cancellations on five days during Thanksgiving and only 12 flights were canceled overall. COO Mike Spanos highlighted the readiness of Delta's team to deliver a world-class experience during the holidays. Passengers are advised to arrive early, especially on the busiest days, and Delta's Operations and Customer Center is working around the clock to ensure seamless service.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:27 pm

CYBN

Research indicates a significant percentage of U.S. veterans suffer from mental health disorders, with psychedelics showing promise in treatment. The FDA has granted breakthrough therapy designations to psilocybin and MDMA, signaling potential approval for therapeutic use. Congress is considering directing the Defense Department to study psychedelics for PTSD treatment. The VA has updated guidelines to include ketamine and esketamine but not other psychedelics. Cybin Inc. (AMEX:CYBN) has developed EMBARK, a psychological support model, and is testing synthetic psychedelic compounds CYB003 and CYB004 for MDD and GAD, respectively, with promising results. There is a call for the VA to provide guidance on psychedelic therapies to match private sector advancements.

Portfolio Pulse from Andre Bourque

December 13, 2023 | 5:56 pm