Streetbeat News

Stock Prices

BABA

FXI

KWEB

Alibaba Group Holding Limited (BABA) stock is trading higher on Friday, inversely with broader index ETFs like IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB). China is considering measures to address local government debt crisis risks, which could impact the state-dominated financial system. The U.S. economy is well positioned to weather headwinds arising from China's economic weakness, according to U.S. Deputy Treasury Secretary Wally Adeyemo.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 11:30 am

MSFT

The article discusses the hypothetical returns of an investment in Microsoft Corp. (NASDAQ:MSFT) made 28 years ago when Windows 95 was launched. The investment of $1,000 would now be worth $53,596, a 5,224% return. During the same period, the Nasdaq Composite index has delivered a return of 1,714%.

Portfolio Pulse from Rounak Jain

August 25, 2023 | 11:08 am

AFRM

HE

MRVL

NVDA

QQQ

SPY

US stocks are expected to rebound despite investor confusion ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech. The market's response to Nvidia Corp.'s impressive quarter has been subdued. Stocks declined notably on Thursday, with IT, communication services, and consumer discretionary stocks under severe selling pressure. In premarket trading on Friday, the SPDR S&P 500 ETF Trust rose 0.31% and the Invesco QQQ ETF gained 0.10%. Affirm Holdings rallied over 8.60% in premarket trading following the release of its quarterly results, while Marvell Technology fell about 4.50% despite a second-quarter beat. Hawaiian Electric Industries plunged about 22% after S&P downgraded the company.

Portfolio Pulse from Shanthi Rexaline

August 25, 2023 | 11:02 am

MYO

Myomo has priced its public offering of 7.3 million shares at $0.60 per share, expecting to raise gross proceeds of approximately $4.4 million.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 11:01 am

DOMO

TD Cowen analyst Derrick Wood has downgraded Domo (NASDAQ:DOMO) from Outperform to Market Perform and lowered the price target from $20 to $14.

Portfolio Pulse from richadhand@benzinga.com

August 25, 2023 | 10:48 am

HUT

Hut 8 Mining Corp. (NASDAQ:HUT) is progressing towards a proposed all-stock merger with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (USBTC). The combined company will be named 'Hut 8 Corp.' and is expected to become a large scale, publicly traded Bitcoin miner with diversified revenue streams and industry leading ESG practices.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 10:37 am

HIBB

Hibbett Sports Inc. has projected its FY24 sales to be flat or increase by up to 2%. The company also expects its FY24 EPS to be between $7.00 and $7.75, compared to the estimated $7.18.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 10:33 am

HIBB

Hibbett (NASDAQ:HIBB) reported Q2 earnings of $0.85 per share, beating the analyst consensus estimate of $0.73 by 16.44%. However, this is a 54.3% decrease from the same period last year. The company's quarterly sales of $374.90 million missed the analyst consensus estimate of $376.11 million by 0.32%, marking a 4.56% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 10:31 am

DOMO

Domo Inc's shares have fallen by over 30% after the company issued a below-consensus Q3 outlook and lowered its FY24 guidance. Despite reporting a Q2 FY24 revenue growth of 5% Y/Y to $79.7 million, beating the consensus of $78.90 million, and an adjusted EPS loss of $(0.02), better than the consensus loss of $(0.09), the company's outlook for Q3 and FY24 fell short of expectations.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 10:30 am

EADSY

VSAT

Viasat Inc (NASDAQ:VSAT) reports another malfunction of its satellite, Inmarsat-6 F2 (I6 F2), within a month. The company and the satellite's manufacturer, Airbus SE (OTC:EADSY), are investigating the cause. Despite the malfunction, Viasat does not expect the incident to materially impact the FY24 outlook for revenue and Adjusted EBITDA growth. The company's shares closed lower by 2.04% at $26.88 on Thursday.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 10:29 am