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Stock Prices

ACN

ALOT

HUMA

HYZN

U.S. stocks closed higher with the Dow jumping over 250 points as investor optimism improved slightly. The Fed kept interest rates unchanged, boosting market sentiment. Accenture's shares fell over 9% after fiscal Q2 results, while Micron Technology's shares surged over 14% following upbeat Q2 results and strong Q3 guidance. Economic data showed a decline in jobless claims and a smaller current account deficit than expected. Most S&P 500 sectors saw gains, with industrials, financial, and energy stocks leading. The CNN Money Fear and Greed index increased slightly.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 6:53 am

FDX

HYZN

LULU

NKE

FedEx, Worthington Steel, Hyzon Motors, Nike, and Lululemon Athletica reported their quarterly earnings with mixed results. FedEx and Worthington Steel exceeded expectations, with FedEx also announcing a $5 billion share repurchase program. Hyzon Motors is anticipated to report a loss. Nike reported positive earnings but saw a share price drop, while Lululemon also exceeded expectations but issued a weak forecast, leading to a significant share price decline.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 6:52 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies showed mixed performance with Bitcoin, Ethereum, and Dogecoin experiencing varied changes in their prices amid a decrease in weekly jobless claims in the U.S. The optimism in the crypto market was further fueled by the Federal Open Market Committee (FOMC) meeting, where Fed Chair Jerome Powell discussed the potential easing of monetary policies by late 2024. Analysts predict significant growth for Bitcoin based on historical patterns, with potential targets ranging from $95,000 to $142,000. The global cryptocurrency market cap increased by 8.00% in the past 24 hours.

Portfolio Pulse from Mehab Qureshi

March 22, 2024 | 6:34 am

COIN

META

RDDT

Ark Invest, led by Cathie Wood, purchased shares of Meta Platforms Inc (META) and Reddit (RDDT) on their debut, while selling Coinbase (COIN) shares. The firm bought 90,253 META shares valued at $45.82 million and 9,982 RDDT shares worth $503,492. Meanwhile, 199,526 COIN shares were sold for $52.27 million. The trades reflect Ark's strategic positioning in response to market trends and legal challenges faced by META.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 5:16 am

PLNT

Planet Fitness (NYSE:PLNT) faces backlash over a commercial accused of mocking women's safety concerns, particularly regarding locker room use. The ad, criticized for making light of serious safety issues, has sparked outrage on social media. This controversy adds to previous incidents questioning the gym's inclusive policies, which allow members to use locker rooms matching their gender identity. A notable incident in Alaska, where a man was found in the women's locker room, led to further scrutiny and a membership cancellation. Amid these controversies, Planet Fitness' stock has seen a decline, dropping 19.33% over the last year despite a recent 3.43% increase.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 3:38 am

AAPL

LULU

NKE

RDDT

TSLA

U.S. stocks saw a positive trend with Reddit's IPO outperforming expectations, Apple facing a DOJ lawsuit, Nike beating revenue estimates, Lululemon surpassing revenue expectations, and Tesla proving its 4680 cell production capabilities. Reddit's shares soared, while Apple's fell due to legal challenges. Nike, Lululemon, and Tesla also made significant moves.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 3:36 am

META

Meta Platforms Inc. (NASDAQ:META) is facing a class action lawsuit for allegedly misrepresenting the audience size for its Facebook and Instagram advertising services. The U.S. Court of Appeals for the Ninth Circuit has allowed the lawsuit to proceed, accusing Meta of exaggerating ad reach metrics. This lawsuit includes individuals and entities that have purchased ads on Meta's platforms since August 2014, alleging inflated ad reach metrics based on accounts, including duplicates, rather than distinct individuals.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 2:51 am

ADAUSD

DOGEUSD

David Gokhshtein, a prominent Dogecoin advocate, has publicly expressed his support for Cardano (ADA), stating his long-term admiration for the cryptocurrency on social media. His endorsement comes amidst a broader market upturn following a dovish stance from the U.S. Federal Reserve, which saw major cryptocurrencies like Bitcoin and Ethereum rise in value. This market sentiment, coupled with recent rallies in altcoins like Floki Inu, suggests a potentially favorable landscape for ADA. Cardano has seen a 69.04% increase over the past year, while Bitcoin, Ethereum, and Dogecoin have also posted significant gains.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 2:08 am

AAPL

Jim Cramer, in response to the DOJ's antitrust lawsuit against Apple Inc. (NASDAQ:AAPL), advises investors not to sell Apple's stock, predicting the tech giant will prevail. Despite the lawsuit alleging Apple maintains a 'smartphone monopoly', Cramer sees this as a buying opportunity, citing lack of substantial proof from the DOJ and comparing it to past unsuccessful cases against other tech companies. Apple's shares dipped slightly over 4% following the lawsuit announcement.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:32 am

RDDT

On Reddit's IPO day, co-founder Alexis Ohanian publicly feuded with Initialized Capital, an early investor in Reddit, for not acknowledging him in their celebratory post. Despite the dispute, Reddit's IPO was successful, with shares opening at $47 and currently trading around $55, a 70% increase from the IPO price. The IPO was seen as a potential milestone for the tech industry, despite a preceding patent dispute with Nokia.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:31 am