Streetbeat News

Stock Prices

IMNM

VKTX

XBI

The biotech sector has seen significant growth in early 2024, with Viking Therapeutics, Inc. (VKTX) and Immunome, Inc. (IMNM) being notable movers. David Prince from T3 Trading Group highlighted the sector's potential for continued growth, driven by large biotech firms seeking new growth opportunities through mergers, acquisitions, and asset purchases. The SPDR S&P Biotech ETF (XBI) has also performed well, reflecting the sector's positive trend. Prince also mentioned the impact of lower interest rates as a future catalyst for the biotech industry.

Portfolio Pulse from Erica Kollmann

February 28, 2024 | 5:51 pm

DPZ

MCD

SBUX

UBER

YUM

Domino's Pizza Inc (NYSE:DPZ) reported a profit beat, driven by its 'emergency pizza' offer, leading to a stock jump, a 25% dividend hike, and a $1 billion buyback announcement. Despite facing backlash in the Middle East and Asia, similar to McDonald's (NYSE:MCD), Yum Brands (NYSE:YUM), and Starbucks (NASDAQ:SBUX), due to geopolitical tensions, Domino's saw a revenue rise of 0.8% to $1.40 billion in Q4. Its partnership with Uber Eats (NYSE:UBER) contributed to new customer acquisition and is expected to boost sales through 2024.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 5:49 pm

PTN

Palatin Technologies announced that its PL9643 MELODY-1 Pivotal Phase 3 clinical trial for dry eye disease did not meet its primary or secondary endpoints, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:49 pm

DOGEUSD

PEPEUSD

SHIBUSD

Pepe Coin (CRYPTO: PEPE) experienced a significant surge, increasing 50% in one day and 200% over the past week, with its trading volume surpassing $1.9 billion. The increase began on Feb. 26, with active wallet addresses and whale transactions indicating strong interest. Six wallets made a profit of $2 million by selling Pepe, with one wallet earning a 97% profit in six hours. The crypto community is highly engaged, with predictions of Pepe's market cap reaching between $69 billion to $420 billion. Other meme coins like DOGE and SHIB are also mentioned as part of the meme coin elite.

Portfolio Pulse from Murtuza Merchant

February 28, 2024 | 5:47 pm

AMR

Alpha Metallurgical (NYSE:AMR) has seen significant options market activity, with a bearish sentiment prevailing among large investors. Benzinga's options scanner revealed 19 unusual trades, with a split sentiment of 26% bullish and 73% bearish. The focus is on a price band between $80 and $660. Notably, there were 10 puts and 9 calls, indicating a bearish outlook. AMR's stock is currently down by -13.34%, trading at $380.12, with an RSI indicating a neutral position. An earnings announcement is expected in 68 days.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:46 pm

Market whales have shown a bearish stance on Boeing (NYSE:BA) through recent options trades, with a sentiment split of 39% bullish and 60% bearish. Benzinga's options scanner identified 23 unusual trades, indicating a price target range of $170.0 to $265.0 for Boeing. The largest trades include both bullish and bearish sentiments on calls with expiration dates ranging from 2024 to 2025. Boeing's current stock price is slightly up at $201.45, with the next earnings expected in 56 days.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:45 pm

SHOO

Steven Madden, Ltd. (NASDAQ:SHOO) reported Q4 earnings and revenue that beat Wall Street expectations, with earnings per share of 61 cents and revenue of $519.714 million. The company saw a 10.4% year-over-year revenue increase, driven by growth in both direct-to-consumer and wholesale businesses. Despite this, SHOO shares traded lower by 2.77% to $42.42. The company also announced a quarterly cash dividend of $0.21 per share and expects 2024 revenue to increase by 11% to 13%. Telsey Advisory Group maintained a Market Perform rating with a $39 price forecast.

Portfolio Pulse from Nabaparna Bhattacharya

February 28, 2024 | 5:42 pm

MRAI

ROOT

RYAN

Insurance stocks showed notable movements in Wednesday's intraday session. Gainers included Root, Ryan Specialty Holdings, Kingstone Companies, Ambac Financial Group, Trupanion, and Erie Indemnity, with increases ranging from 3.97% to 8.05%. Losers were Marpai, Maiden Holdings, Reliance Global Group, FG Financial Group, Hippo Holdings, and ProAssurance, with declines between 4.45% and 10.44%. Notably, Ryan Specialty Holdings, Ambac Financial Group, Erie Indemnity, and ProAssurance recently released their Q4 earnings.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 5:40 pm

BABA

CGRO

PGJ

Alibaba Group Holding Ltd's subsidiary, Daraz Group, is set for another round of layoffs amid financial challenges, a year after reducing its workforce by 11%. The layoffs across Pakistan, Bangladesh, Sri Lanka, and Nepal reflect Alibaba's broader strategy to optimize operations within its International Digital Commerce Group. Despite these challenges, Alibaba's international ventures, including Daraz, saw a 44% revenue increase in the December quarter. The Invesco Golden Dragon China ETF and Tidal Trust II CoreValues Alpha Greater China Growth ETF, with close to 8% exposure to Alibaba, gained 7-10% last month. Alibaba's stock traded lower by 3.27% at $75.14.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 5:39 pm

AAPL

TSM

Apple Inc and Taiwan Semiconductor Manufacturing Company (TSMC) are collaborating to design processors using TSMC's 2-nanometer fabrication process, aiming for production in late 2025. This advancement promises up to 15% speed increases or up to 30% power efficiency gains over the current 3nm technology. Apple has secured most of TSMC's initial 2nm production capacity, continuing their partnership. TSMC is investing in new facilities for 2nm production, with plans for mass production by 2025. TSMC's stock has risen 27% year-to-date, while Apple's has decreased by 2%.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 5:36 pm