Streetbeat News

Stock Prices

BE

BFRG

CDLX

PBLA

SNCE

SOFI

U.S. stocks saw a slight increase, with the Nasdaq Composite up by 75 points. The Dow and S&P 500 also experienced modest gains. Consumer discretionary shares led the gains, while energy shares declined following a 1.3% drop in crude oil prices. Science 37 Holdings (SNCE) surged 16% after agreeing to be acquired by eMed. SoFi Technologies (SOFI) jumped 16% on strong quarterly revenue, and Cardlytics (CDLX) rose 28% after a settlement agreement and updated Q4 results. Conversely, Panbela Therapeutics (PBLA) plummeted 67% due to a public offering, Bullfrog AI Holdings (BFRG) fell 24% after a shelf offering, and Bloom Energy (BE) dropped 7% after a downgrade by B of A Securities. The Federal Reserve Bank of Dallas reported a decline in Texas manufacturing activity.

Portfolio Pulse from Avi Kapoor

January 29, 2024 | 7:24 pm

PBLA

Panbela Therapeutics, Inc. (NASDAQ:PBLA) shares plummeted by 65.5% to $1.47 after announcing a public offering priced at approximately $9 million. Other stocks experienced significant movements in Monday's mid-day session, with various companies showing notable gains and losses. Gainers included Palisade Bio, Inc. (NASDAQ:PALI), OneMedNet Corporation (NASDAQ:ONMD), and Revelation Biosciences, Inc. (NASDAQ:REVB), among others. Losers featured SMX (Security Matters) Public Limited Company (NYSE:SMX), Inspire Veterinary Partners, Inc. (NASDAQ:IVP), and Bullfrog AI Holdings, Inc. (NASDAQ:BFRG), among others.

Portfolio Pulse from Avi Kapoor

January 29, 2024 | 7:09 pm

HARP

MRK

Merck & Co Inc (MRK) is experiencing a stock rally ahead of its Q4 earnings report, driven by optimism around its cancer drug Keytruda, which has received four FDA approvals since November 2023. The latest approval on Jan. 12 allows Keytruda to be used with chemoradiotherapy for certain cervical cancers. Merck's stock has also been positively influenced by the acquisition of Harpoon Therapeutics Inc (HARP) for $680 million, aimed at enhancing its cancer treatment pipeline. A technical indicator, the Golden Cross, has occurred for Merck stock, suggesting continued upward momentum.

Portfolio Pulse from Surbhi Jain

January 29, 2024 | 7:05 pm

ABBV

CERE

IMGN

William Blair has upgraded AbbVie Inc (NYSE:ABBV) from Market Perform to Outperform, citing confidence in the company's growth prospects into 2024 despite competitive pressures. AbbVie's growth is attributed to strong performance by Skyrizi and Rinvoq, strategic acquisitions of ImmunoGen Inc (NASDAQ:IMGN) and Cerevel Therapeutics Holdings Inc (NASDAQ:CERE), and the highest dividend yield among peers. AbbVie faces competition for Humira, Imbruvica, and Botox but is expected to sustain growth. Q4 2023 earnings are anticipated on February 2, with an expected EPS of $2.81 and sales of $14.03 billion.

Portfolio Pulse from Vandana Singh

January 29, 2024 | 7:04 pm

TIAUSD

Celestia's cryptocurrency (CRYPTO: TIA) price has increased by 4.44% in the last 24 hours, reaching $17.76, continuing a 14% weekly gain. Despite a 16% drop in trading volume over the week, the circulating supply increased by 1.05% to 160.77 million. Celestia's market cap is now $2.85 billion, ranking it 33rd.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 7:03 pm

AMZN

GOOGL

META

MTCH

RBC Capital Markets analysts favor Amazon (AMZN) and Meta Platforms (META) ahead of tech earnings reports, maintaining outperform ratings and price targets of $180 for AMZN and $400 for META. They expect AMZN to beat Q4 expectations with revenue growth and are looking for acceleration in AWS, despite concerns about Microsoft's market share. META is also expected to surpass earnings expectations with its Advantage+ offering driving growth. Alphabet (GOOGL) is anticipated to slightly miss Q4 earnings expectations but may benefit from YouTube, Cloud, and margins in 2024. Match Group (MTCH) is predicted to miss earnings expectations, with Hinge's performance potentially offsetting challenges from Tinder.

Portfolio Pulse from Neil Dennis

January 29, 2024 | 7:02 pm

DOGE-USD

Dogecoin (CRYPTO: DOGE) has seen a 4.45% increase in price over the last 24 hours, reaching $0.08, despite a 1.0% decline over the past week. The coin's all-time high is $0.73. Trading volume has decreased by 19.0%, while the circulating supply has risen by 0.36% to 142.86 billion. Dogecoin's market cap is currently ranked #11 at $11.68 billion.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 7:01 pm

DOTUSD

Polkadot's (CRYPTO: DOT) price has risen 7.43% in the last 24 hours, reaching $7.1, continuing a weekly upward trend with an 8.0% gain from $6.47. The coin's all-time high is $54.98. Trading volume increased by 25.0%, and circulating supply grew by 0.63% to over 1.32 billion, with a market cap ranking of #13 at $9.44 billion.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 7:00 pm

GBTC

GOOGL

META

Alphabet Inc (NASDAQ:GOOGL) has updated its advertising policy to allow certain cryptocurrency products, including Cryptocurrency Coin Trusts, to advertise on its network starting Jan. 29. This change could increase mainstream adoption of cryptocurrencies by enhancing visibility and credibility. The Grayscale Bitcoin Trust (OTC:GBTC), now a spot Bitcoin ETF, stands to benefit from this policy change. Previously, Google and Meta (NASDAQ:META) had banned crypto advertising in 2018 due to concerns over scams and volatility.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 6:58 pm