Streetbeat News

Stock Prices

COIN

Coinbase Global Inc (NASDAQ:COIN) stock is trading lower due to a decline in Bitcoin's price after a recent surge. Bitcoin's pullback is attributed to profit-taking following a 13% rally over the past week and a 150% increase year-to-date. The broader crypto market's rally has been driven by institutional interest and expectations of a potential Bitcoin ETF and a pause in Federal Reserve rate hikes. Despite the drop, Coinbase shares are still up 60% over the last month.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 1:58 pm

MTN

Vail Resorts, Inc. (NYSE:MTN) reported a Q1 loss of $4.60 per share, missing market estimates by $0.08, and sales of $258.56 million, below expectations of $271.01 million. Despite the earnings miss, the stock rose 4.1% to close at $225.87. The company pays a quarterly dividend of $2.06 per share, with an annual yield of 3.65%. To earn $500 monthly from dividends, an investment of approximately $164,433, or 728 shares, is needed.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 1:58 pm

AZN

AstraZeneca Plc (NASDAQ:AZN) announced positive results from the ALPHA Phase 3 trial of danicopan as an add-on therapy to Ultomiris or Soliris in PNH patients. The trial showed sustained clinical benefits, including improved hemoglobin and ARC levels, and met all key secondary endpoints. Danicopan was well tolerated with no new safety concerns. AZN shares saw a slight increase of 0.28% in premarket trading.

Portfolio Pulse from Vandana Singh

December 11, 2023 | 1:58 pm

JD.com's stock is trading lower following the announcement that the company will be removed from the Nasdaq-100 Index, which may affect investor perception and the stock's visibility among index-tracking funds.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:57 pm

AMD

BIDU

NVDA

TCEHY

TSM

Chinese companies, including Tencent Holdings Ltd (TCEHY) and Huawei, are promoting their AI chips as alternatives to Nvidia Corp's (NVDA) products amid U.S. export restrictions. Nvidia holds a dominant position in China's AI chip market, but these restrictions have opened opportunities for companies like Hygon Information Technology and Iluvatar CoreX. Tencent is also offering its Zixiao chips through its cloud services, which include options from Nvidia and Advanced Micro Devices, Inc (AMD). Baidu Inc (BIDU) and other Chinese tech firms are seeking domestic AI chip sources, while Taiwan Semiconductor Manufacturing Company Ltd (TSM) faces U.S. curbs on working with Chinese firms. Nvidia's stock saw a slight increase in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 1:56 pm

PSTX

SNAP

Poseida Therapeutics (PSTX) presented positive early results from its Phase 1 trial of P-BCMA-ALLO1 for multiple myeloma at the ASH Meeting, causing a 73% surge in its stock. Cigna (CI) shares rose 14% after it reportedly dropped plans to acquire Humana and announced a $10 billion buyback. Snap (SNAP) shares increased by 6% following an upgrade by Wells Fargo from Equal-Weight to Overweight and a price target raise from $8 to $22.

Portfolio Pulse from ryanfaloona@benzinga.com

December 11, 2023 | 1:56 pm

IRTC

Citigroup analyst Joanne Wuensch has upgraded iRhythm Technologies (NASDAQ:IRTC) from Neutral to Buy and set a price target of $110.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:56 pm

SNAP

Snap Inc. shares have risen following an upgrade by Wells Fargo from Equal-Weight to Overweight, with a significant increase in the price target from $8 to $22.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:55 pm

LCID

Lucid Group's stock (LCID) is trading lower following the announcement that it will be removed from the Nasdaq-100 Index, which may affect investor perception and index fund compositions.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:53 pm

BBGI

CAUD

FERN

GOLQ

LGIQ

TCOA

Collective Audience, Inc. (NASDAQ:CAUD) has appointed Peter Bordes as CEO, succeeding Brent Suen. Bordes brings over 30 years of experience in AdTech, media, AI, fintech, and technology sectors. Suen praised Bordes' leadership and vision, which align with the company's goals to build a full stack integrated platform, acquire complementary technologies, and form new partnerships. Bordes' appointment is expected to open new business opportunities and drive growth. He has been an influential angel investor and holds board positions at several companies. In connection with his hiring, Bordes received 71,429 shares of restricted common stock of Collective Audience, vesting over six months.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 1:50 pm