Streetbeat News

Stock Prices

MBLY

Mobileye Global (NYSE:MBLY) has seen a 12.62% increase in short interest since its last report, with 19.24 million shares sold short, representing 28.73% of its float. This is significantly higher than its peer group average of 8.31%. The rise in short interest suggests a bearish market sentiment towards MBLY, but it's important to note that an increase in short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:30 pm

SCTL

Societal CDMO's stock price has increased following the announcement of its acquisition by CoreRx. The definitive agreement marks a significant move for both companies in the pharmaceutical manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:27 pm

BBY

DAVA

ENVB

LPSN

SCTL

VERX

U.S. stocks traded mixed with the Nasdaq Composite up by 100 points. Best Buy reported better-than-expected Q4 earnings, beating estimates with an EPS of $2.72 and sales of $14.646 billion. The company also increased its quarterly dividend by 2% and provided FY25 guidance. Societal CDMO, Enveric Biosciences, and Vertex saw significant stock price increases, while LivePerson, Endava, and Kineta experienced notable declines. Oil and gold prices rose, and economic indicators showed mixed results globally.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 5:24 pm

LUNR

SIDU

Sidus Space, Inc. (NASDAQ:SIDU) shares surged after announcing its LizzieSat satellite is ready for launch with SpaceX, aiming for a March 2024 launch. The satellite will support various industries with its data collection capabilities and onboard AI. The stock's movement is compared to Intuitive Machines, Inc. (NASDAQ:LUNR), which also saw a significant price increase following a successful launch.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 5:23 pm

PSTG

Pure Storage, Inc. (NYSE:PSTG) shares rose after reporting Q4 results surpassing expectations and providing optimistic Q1 revenue guidance. The company announced adjusted earnings of 50 cents per share and sales of $789.8 million, both exceeding consensus estimates. Subscription services revenue increased by 24% year-over-year, and the operating margin was 20%. For Q1, Pure Storage anticipates revenue of $680 million, above the expected $667.299 million. Additionally, the company expanded its share repurchase program by $250 million. Analysts from JP Morgan, Barclays, UBS, and B of A Securities raised their price targets on PSTG following these results.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 5:19 pm

NVDA

QQQ

Wall Street veteran Ed Yardeni expresses concern over the current bull market's unchecked advance, citing excessive optimism and contrarian indicators suggesting an unsustainable peak. The Nasdaq 100 Index, tracked by Invesco QQQ Trust, has seen significant gains, as has Nvidia Corp., with its stock rising over 60% in the first two months of the year. Yardeni warns that the prevailing bullish sentiment and disregard for risk could lead to a market 'meltup', despite the positive economic indicators.

Portfolio Pulse from Piero Cingari

February 29, 2024 | 5:18 pm

HGV

Hilton Grand Vacations Inc. (NYSE:HGV) shares fell after reporting Q4 FY23 results with sales of $1.02 billion, in line with consensus but affected by net deferrals. Real estate sales and financing revenues decreased slightly, while adjusted EBITDA and EPS rose. The company also announced share repurchases and expects higher 2024 Adjusted EBITDA, including Bluegreen Vacations operations.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 5:15 pm

ENVB

Enveric Biosciences' stock price increased following the announcement of signing three non-binding term sheets for the out-licensing of three classes of compounds.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:12 pm

AMRN

Amarin Corporation Plc (NASDAQ:AMRN) reported Q4 2023 revenues of $74.71 million, a 17% decrease year-over-year, primarily due to lower VASCEPA sales in the U.S. due to generic competition. Despite this, revenues beat the consensus estimate of $63.81 million. The company nearly broke even, outperforming the expected loss. Amarin has initiated a share repurchase program of up to $50 million and is on track to save $40 million annually from a reduction in force announced in July 2023. Shares fell 17.8% to $1.09.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 5:12 pm

BABA

BOTZ

MSFT

NVDA

Microsoft, OpenAI, and Nvidia have invested $675M in Figure AI, a startup focused on integrating AI-powered humanoid robots into the workforce. This investment aims to expand AI training, robot manufacturing, and engineering teams, with Figure AI's valuation reaching $2.6 billion. The startup has partnerships with OpenAI for AI model development and Microsoft for AI infrastructure, aiming to deploy robots in real-world applications, including BMW's U.S. factories. Additionally, Alibaba led a $1 billion investment in Moonshot AI, and the Global X Robotics & Artificial Intelligence ETF (BOTZ) has seen a 13% increase year-to-date.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 5:06 pm