Streetbeat News

Stock Prices

INTC

Intel Corporation's shares fell more than 4% on Tuesday and closed lower on Wednesday. Despite this, an options trader predicts a surge of around 10% by December. This prediction is based on the buying of more than 18,000 of the Dec. 15 $38-calls at an average price of $1.23 per contract. Intel's Innovation 2023 event, focused on AI, is seen as the main driving force behind this prediction.

Portfolio Pulse from Lisa Levin

September 21, 2023 | 12:40 pm

CXXIF

C21 Investments Inc. reported its 17th consecutive quarter of positive free cash flow. The company's Q2 2023 revenue was $7.16 million, slightly down from $7.17 million in the same quarter of 2022. Gross profit was $2.8 million, down from $3.8 million in the corresponding quarter of last year. The company had $56 million in total assets and $22.4 million in total liabilities. The company's shares traded 4.7126% lower at $0.3316 per share at the market close on Wednesday.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 12:38 pm

CYTH

Cyclo Therapeutics and Applied Molecular Transport have entered into a definitive merger agreement. This has led to an increase in the trading of Cyclo Therapeutics shares.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:38 pm

BTCUSD

A crypto analyst, Credible Crypto, predicts that Bitcoin (BTC) will undergo one more market correction before making a significant upward move. The analyst suggests that Bitcoin will likely dip to at least the mid-$26,000 level while remaining in an overall upward channel. Despite the possibility of a move down to a lower level, the analyst anticipates that the next move up for Bitcoin will be 'explosive'. At the time of writing, BTC was trading at $26,730, down 1.41% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

September 21, 2023 | 12:38 pm

CSCO

SPLK

Cisco Systems, Inc has agreed to acquire Splunk Inc for $157 per share in cash, a total equity value of approximately $28 billion. This has led to a rally in Splunk's stock prices, while Cisco's stock prices fell. The acquisition is expected to be cash flow positive and gross margin accretive in the first fiscal year post-close and non-GAAP EPS accretive in year two. The transaction is expected to close by the end of the third quarter of 2024.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 12:37 pm

AMTI

Trading of Applied Molecular Transport (AMTI) shares has resumed.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:37 pm

AVGO

FDX

KZR

Google is considering dropping Broadcom as its AI chip supplier, causing Broadcom's shares to drop by 8.5%. FedEx shares rose by 6% after reporting mixed Q1 results and issuing guidance. Kezar Life Sciences and Everest Medicines have entered into an agreement to develop and commercialize Zetomipzomib for Lupus Nephritis in Greater China, South Korea, and Southeast Asia, leading to a 28% rise in Kezar's shares.

Portfolio Pulse from ryanfaloona@benzinga.com

September 21, 2023 | 12:37 pm

SASI

Sigma Additive Solutions, Inc. (NASDAQ:SASI) has announced a 1-for-20 reverse stock split to regain compliance with Nasdaq's minimum bid price per share requirement and facilitate strategic transactions. The company's common stock will begin trading on a split-adjusted basis on September 22, 2023, under the symbol 'SASI'. The reverse stock split will reduce the number of shares from approximately 12,227,135 to around 611,357.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:36 pm

RSLS

ReShape Lifesciences has signed an exclusive license agreement with Biorad Medisys for the Obalon Gastric Balloon System, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:34 pm

AAPL

NVDA

TSM

Nvidia Corp (NVDA) stock is trading lower as the company strategizes to overcome supply constraints, U.S. semiconductor sanctions on China, and competition from Huawei. CEO Jensen Huang has been focusing on business opportunities in India, discussing the potential for the country to become a hub for AI talent, chip production, and a market for Nvidia's products. This comes as the U.S. tightens restrictions on exporting high-end chips to China. Meanwhile, Apple Inc's (AAPL) major suppliers in Taiwan saw a 12.3% drop in sales, and Taiwan Semiconductor Manufacturing Co (TSM) faced challenges in supplying Nvidia chips due to advanced packaging requirements.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 12:34 pm