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AMD

GLD

GME

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QQQ

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Wall Street futures are trading flat as investors await further monetary policy insights. The S&P 500 Index fell for the third consecutive day, with concerns about overestimating future interest rate cuts. Treasury yields rose slightly, and the Fed's repo facility demand hit a peak, signaling liquidity concerns. The Japanese yen surged after hawkish comments from the Bank of Japan Governor. Crude oil and gold prices saw modest gains. Bitcoin dropped following negative comments from JPMorgan CEO Jamie Dimon. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) edged up in premarket trading. Advanced Micro Devices (AMD) rose on news of a shift from NVIDIA (NVDA) to AMD's AI chip by major tech firms. GameStop (GME) fell on revenue miss, Dollar General (DG) rose on earnings beat, and Alphabet (GOOG/GOOGL) increased after unveiling its new AI model.

Portfolio Pulse from Piero Cingari

December 07, 2023 | 1:31 pm

CLH

Clean Harbors, Inc. has announced an expansion of its share repurchase program by $500 million. This move indicates the company's confidence in its financial stability and future prospects. Share buybacks often signal to investors that the company believes its stock is undervalued and is a good use of its capital, which can lead to a positive reaction in the stock market.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:31 pm

HEPA

Hepion Pharmaceuticals shares have resumed trading after a temporary halt. The company, which may be referred to by its ticker symbol HEPA, is back on the market for investors to buy and sell its stock.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:30 pm

ABBV

CERE

AbbVie is set to acquire Cerevel Therapeutics for an equity value of about $8.7 billion, causing Cerevel's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:27 pm

CHWY

Chewy's stock is trading lower following the release of their mixed Q3 financial results and a reduction in their full-year 2023 net sales forecast.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:27 pm

NKLA

Nikola Corporation's stock price is trading lower following the company's announcement of proposed offerings of common stock and convertible senior notes, which typically dilutes current shareholders' equity and could potentially increase the company's debt burden.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:26 pm

Dollar General Corp (NYSE:DG) reported Q3 FY23 sales of $9.69 billion, surpassing estimates of $9.65 billion. Same-store sales fell 1.3%, and gross profit margin dropped to 29%. Operating income declined 41.1% to $433.5 million. EPS of $1.26 beat estimates of $1.19. The company declared a quarterly dividend of $0.59 per share and reaffirmed its FY23 sales growth outlook of 1.5% to 2.5% with EPS of $7.10 to $7.60. Shares rose 4.46% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 07, 2023 | 1:26 pm

WVE

Wave Life Sciences' stock price has dropped following the announcement of a $100 million public offering of ordinary shares. The offering could dilute existing shareholders' equity, leading to the negative market reaction.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:26 pm

NEON

PRCH

VRNT

WIT

Five tech stocks with high RSI values, indicating potential overbought conditions, are Porch Group (PRCH), Neonode (NEON), Verint Systems (VRNT), Zoom Video Communications (ZM), and Wipro Limited (WIT). These stocks have seen significant price increases recently, with PRCH and NEON experiencing the highest RSI values of 85.36 and 85.75, respectively. VRNT, ZM, and WIT also have RSI values above 70, suggesting they may be due for a price correction in the short term.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 1:25 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 07, 2023 | 1:23 pm