Streetbeat News

Stock Prices

ADOC

Edoc Acquisition Corp. has received a notice from Nasdaq due to the late filing of its quarterly report on Form 10-Q. The notice is a standard procedure for non-compliance with Nasdaq's filing requirements, which could lead to delisting if not remedied.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:30 pm

AI

C3.ai Inc (NYSE:AI) reported Q2 financial results with a revenue increase of 17% year-over-year to $73.23 million, missing estimates by $1.1 million. The company beat EPS estimates with an adjusted loss of 13 cents per share versus the expected 18 cents. Subscription revenues grew by 12%, and customer engagement by 81%. C3.ai closed 62 customer agreements, including 36 pilots, and ended the quarter with $762.3 million in cash and investments. The company expressed strong interest in generative AI offerings and plans to invest further in this area, expecting to accelerate growth and gain market share. C3.ai provided a Q3 revenue outlook of $74 million to $78 million and reaffirmed full-year 2024 revenue projections of $295 million to $320 million. After the report, C3.ai shares dropped 8.88% in after-hours trading.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 10:19 pm

ABBV

CERE

Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) shares rose in after-hours trading following the announcement that AbbVie Inc. (NYSE:ABBV) will acquire the company for approximately $8.7 billion. AbbVie will purchase all outstanding CERE shares at $45 each in cash, with the deal expected to close in mid-2024. AbbVie's CEO highlighted the acquisition's enhancement to their neuroscience portfolio and potential for significant growth and multibillion-dollar sales across Cerevel's assets.

Portfolio Pulse from Ryan Gustafson

December 06, 2023 | 10:14 pm

AMD

META

MSFT

NVDA

ORCL

AMD's new AI chip, the Instinct MI300X, is being adopted by Meta, Microsoft, and OpenAI, challenging Nvidia's market dominance. The chip, with 192GB of HBM3 memory, is set to release next year and is expected to be a cost-effective alternative to Nvidia's GPUs. Meta will use it for AI tasks, and Microsoft will offer it through Azure. Oracle's cloud will also integrate these GPUs. Despite the positive news, AMD's stock fell 1.3%, while Nvidia's dropped 2.3% amidst a broader tech sector decline.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 10:10 pm

HPCO

Hempacco's stock is trading higher following the announcement of an exclusive Master Distribution Agreement with CBDAY Global, which will sell Hempacco's hemp and CBD products exclusively in India and Thailand.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:08 pm

YQ

17 Education & Technology (NASDAQ:YQ) experienced a significant decrease in sales, reporting $6.20 million this quarter, which is a 64.60% drop from $17.51 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:04 pm

VRNT

Verint Systems' stock is trading higher following the release of their Q3 financial results, which surpassed expectations. The company also provided positive guidance for future performance.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:04 pm

SMTC

Semtech Corporation's stock is trading higher following the announcement of their third-quarter financial results and the issuance of guidance for future performance.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:00 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) ended a 13-day losing streak, its longest since 1992, with a slight uptick in stock price. The decline was attributed to a 'material decline' in November sales, as noted by JPMorgan Chase analysts, amid boycotts over the company's alleged support of Israel in its conflict with Palestine. The boycotts were fueled by a statement from the Starbucks Union supporting Palestine and a subsequent lawsuit by Starbucks against the union. The hashtag #boycottStarbucks has over 50 million views on TikTok. Additionally, the Starbucks Workers United union organized a walkout during a major promotion. Starbucks' market cap has dropped by over $10 billion, with the stock down over 10% since Nov. 17.

Portfolio Pulse from Aaron Bry

December 06, 2023 | 9:53 pm

ALCO

Alico, Inc. (NASDAQ:ALCO) reported Q4 earnings with an EPS of $-0.03, significantly beating the estimated EPS of $-0.34. However, revenue declined by $351 thousand compared to the same period last year. Despite missing EPS estimates last quarter, Alico's share price increased slightly the following day. The company's past earnings performance shows a history of not meeting EPS estimates.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 9:50 pm