Streetbeat News

Stock Prices

NDLS

Traders are speculating that Noodles & Company (NDLS) may be a target for a buyout at a significant premium. The company is also seen as a potential target for a private equity activist campaign.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:39 pm

GOOG

GOOGL

META

MSFT

NVDA

QQQ

SMH

SOXX

SPY

Nvidia Corp's stock is trading higher, boosted by Meta Platforms Inc's positive Q2 results. Meta's revenue was $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. This has added to the Wall Street momentum driving up tech sector stock prices. Microsoft Corp and Alphabet Inc's positive earnings results earlier this week also had a positive impact. Semiconductor ETFs like VanEck Semiconductor ETF and iShares Semiconductor ETF are trading higher by over 2% today. Broader index ETFs like SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading higher by ~1%.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:38 pm

ADI

ENTG

LSCC

MCHP

MRVL

NVDA

QCOM

UMC

Semiconductor and chip stocks are trading higher following strong Q4 financial results from Lam Research. Stocks that may be affected include ADI, ENTG, LSCC, MCHP, MRVL, NVDA, QCOM, UMC.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:38 pm

NIO

XPEV

NIO Inc's shares are trading higher by 5.85% despite no company-specific news. The rise may be due to China's recent measures to optimize its business environment and a sympathy rise due to peer Chinese EV maker XPeng Inc's technical collaboration with Volkswagen. Volkswagen will acquire 4.99% of XPeng's outstanding share capital for $700 million.

Portfolio Pulse from Henry Khederian

July 27, 2023 | 1:37 pm

CMCSA

MSFT

NFLX

TTD

Netflix has restructured its advertising pact with Microsoft and reduced ad prices to boost its ad-supported business. The streaming company launched a $6.99-a-month ad-supported option in 2022, with Microsoft as its ad partner. However, Microsoft failed to sell the requisite ad inventory, leading to a payout under the guarantee. Netflix is now offering advertisers better deals and is exploring ways to make it easier for advertisers to purchase ad space. It is in discussions with ad-tech companies, including The Trade Desk and Comcast Corp's FreeWheel, to sell Netflix ad space.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:36 pm

BTCUSD

ETHUSD

XLMUSD

Bitcoin and Ethereum recorded gains, with Bitcoin trading above $29,400 and Ethereum below $1,900. Stellar was the top gainer over the past 24 hours, while Toncoin was the biggest loser. The global crypto market cap rose to $1.19 trillion, recording a 24-hour gain of 1.1%.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 1:33 pm

BABA

META

Alibaba Group Holding Limited's shares are trading higher due to its artificial intelligence collaboration with Meta Platforms Inc. Alibaba Cloud has added Meta's Llama 2 LLM to ModelScope, its open-source platform, which offers over 700 AI models to local developers. Alibaba Cloud has tailored services that would enable Chinese developers to design and build their AI applications faster. Alibaba also proposed to provide funding and other forms of support to these businesses. Meanwhile, Meta Platforms reported second-quarter revenue of $32 billion, up 11% year-over-year.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:33 pm

AMZN

Amazon has cut hundreds of zone lead positions at its Amazon Fresh grocery stores as part of a cost reduction plan. The layoffs come amid a year of job cuts in the tech industry, with Amazon having laid off 27,000 workers in 2023. Despite innovations, Amazon Fresh has faced challenges attracting customers. The company is reevaluating its expansion and cutting costs, including layoffs in various divisions and projects.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:31 pm

INVO

INVO BioScience has announced a 1-for-20 reverse stock split, which will be effective pre-market opening on July 28.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm

CCB

Coastal Finl (NASDAQ:CCB) reported Q2 earnings of $0.95 per share, missing the analyst consensus estimate of $0.97 by 2.06%. The company also reported quarterly sales of $120.94 million, missing the analyst consensus estimate of $124.04 million by 2.50%. However, both earnings and sales have increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 1:28 pm