Streetbeat News

Stock Prices

AVAV

CVGI

DELL

GSL

META

NVDA

SFIX

The CNN Money Fear and Greed index indicated 'Extreme Greed' in the market, with the Nasdaq hitting a new high. NVIDIA and Meta Platforms saw significant gains, while Dell Technologies surged 32% after reporting strong Q4 results and increasing its dividend. Economic data showed a decline in manufacturing PMI and consumer sentiment. The S&P 500 and Dow Jones also closed higher. Upcoming earnings from Global Ship Lease, Commercial Vehicle Group, AeroVironment, and Stitch Fix are anticipated.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 6:56 am

SCLX

SRNEQ

Scilex Holding Company (SCLX) announced that the Creditors' Committee of Sorrento Therapeutics (SRNEQ) has filed a motion with the U.S. Bankruptcy Court to extend the lockup period for the shares distributed as a dividend to Sorrento's stockholders until September 2024. These shares were initially distributed on January 19, 2023, with a lockup period set to expire on March 31, 2024. The decision by the court is pending.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:55 am

Macy's received a revised acquisition offer from Arkhouse & Brigade Capital at $24 per share, a significant premium over its recent share prices. The offer, supported by Fortress Investment Group and One Investment Management US, is under review by Macy's Board, which is open to exploring options that enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:46 am

DOGEUSD

SHIBUSD

SOLUSD

'BONK Killer' MILLI, a new meme cryptocurrency, surged 400% in value on the SEI blockchain, outperforming Dogecoin, Shiba Inu, and BONK. MILLI's market cap reached approximately $1 million with significant transaction volume. The MILLI team addressed market volatility concerns, aiming to restore token distribution and liquidity. MILLI also outperformed other SEI-based meme coins.

Portfolio Pulse from Mehab Qureshi

March 04, 2024 | 6:34 am

SFIX

Stitch Fix, Inc. (NASDAQ:SFIX) is anticipated to report a narrower loss of 20 cents per share for Q2 FY2024, improving from a 58 cents per share loss year-over-year. Revenue is expected at $330.86 million. The company's shares dropped 0.6% to $3.21 recently. Analysts from Telsey Advisory Group, Truist Securities, Piper Sandler, Webush, and Baird have provided various ratings and price targets, reflecting a cautious to negative outlook.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 6:30 am

NVDA

TSLA

Investors are drawing parallels between the rapid rise of Nvidia Corp. (NVDA) in the AI sector and Tesla Inc.'s (TSLA) previous surge in the EV market, raising concerns about the sustainability of Nvidia's growth. While Nvidia's stock continues to soar, Tesla's shares have significantly declined from their 2021 peak. The comparison highlights the potential risks of investing in the AI frenzy, despite Nvidia's exceptional sales growth and the belief in a future dominated by AI technology.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 6:26 am

DOGEUSD

ETHUSD

FLOKIUSD

SHIBUSD

Ethereum co-founder Vitalik Buterin highlighted the disproportionate investment in meme cryptocurrencies like Dogecoin and Shiba Inu compared to essential crypto infrastructure. Buterin emphasized that while some areas are over-invested, others crucial for the ecosystem's health are neglected. This comes as Dogecoin's market cap surpasses $20 billion, with a significant increase in its trading volume and price.

Portfolio Pulse from Mehab Qureshi

March 04, 2024 | 6:14 am

SOHU

Sohu.com reported Q4 adjusted EPS of $(0.32), surpassing the $(0.59) estimate, marking a significant improvement. However, sales fell to $141.36M from $160.40M YoY, indicating a decrease in revenue.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:40 am

BTC-USD

DOGE-USD

ETH-USD

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant gains amid market optimism and FOMO. Bitcoin's price surged over $62,000, with an upcoming halving event in April expected to further impact its value. The global cryptocurrency market cap increased by 1.36% to $2.31 trillion. U.S. stock futures showed minimal movement, with investors awaiting Federal Reserve updates. Analysts predict a potential massive run for altcoins and a possible surge in Bitcoin to $100,000 in 2024, driven by increased liquidity.

Portfolio Pulse from Mehab Qureshi

March 04, 2024 | 4:48 am

AAPL

Apple Inc. (NASDAQ:AAPL) is facing a proposed class-action lawsuit for allegedly monopolizing digital storage through iCloud, imposing restrictions that prevent customers from using other services. The lawsuit, filed in the Northern District of California, claims Apple's practices violate the Sherman Act and California's Unfair Competition Law by tying devices to iCloud, distorting competition, and leading to high prices due to its monopoly power. Apple holds approximately 70% market share in cloud storage for its users, with the lawsuit alleging iCloud's pricing reflects almost pure profit.

Portfolio Pulse from Ananya Gairola

March 04, 2024 | 1:31 am