Streetbeat News

Stock Prices

JPM

JPMorgan Chase & Co. reported better-than-expected Q2 results with net revenue of $42.4 billion, up 34.1% YoY, beating the consensus of $38.96 billion. Adjusted EPS was $4.37, surpassing the consensus of $3.99. Following the announcement, Credit Suisse and Oppenheimer increased their price targets on JPMorgan.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 1:21 pm

NOVN

Trading of Novan shares has resumed.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:18 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) stock is trading higher amid reports of semiconductor chip companies' CEOs planning to discuss China policy with the U.S. government. The executives aim to explain the repercussions of the stricter embargo on the Chinese semiconductor industry involving AI chips. Nvidia plans to reduce A800 production and allocate the capacity to the H800 to boost its presence in the Chinese market. Citi analyst Atif Malik maintained a Buy rating on Nvidia and raised the price target to $520 from $420 with a bull case of $600.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 1:18 pm

BCLI

BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI) has announced a registered direct offering for the purchase and sale of 4,054,055 shares of common stock and warrants at a price of $1.85 per share. The warrants will have an exercise price of $2.00 per share and will expire five years from the date of issuance. The offering is expected to close on July 19, 2023, and is expected to generate approximately $7.5 million in gross proceeds.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:16 pm

VRAY

ViewRay Inc (NASDAQ:VRAY) shares dropped by 44% to $0.20 after the company filed voluntary Chapter 11 petitions. The company plans to sell its business and assets, and has secured $6 million in debtor-in-possession financing. It will continue operations using existing cash reserves. The company announced board resignations and new appointments, including a new CEO, Paul Ziegler.

Portfolio Pulse from Henry Khederian

July 17, 2023 | 1:16 pm

EFSH

MMLP

RCG

Insiders at Martin Midstream Partners L.P. (MMLP), RENN Fund, Inc. (RCG), and 1847 Holdings LLC (EFSH) have recently purchased shares in their respective companies. MMLP's CEO acquired 1082.52 shares at an average price of $2.12, RCG's CEO bought 419 shares at an average price of $1.83, and EFSH's 10% owner Strategic Risk LLC purchased 102,000 shares at an average price of $0.29. These transactions indicate the insiders' confidence in their companies' prospects.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 1:15 pm

F

RIVN

Rivian Automotive Inc's shares are declining due to Ford Motor Co's announcement of price cuts for its F-150 Lightning truck. Ford's move is aimed at sparking increased demand for its electric truck. Rivian's R1T was the best-selling electric pickup in the U.S. in the first half of 2023. Rivian's stock has risen over 65% in the last month, but is reacting negatively to Ford's news.

Portfolio Pulse from Adam Eckert

July 17, 2023 | 1:15 pm

CRSR

Corsair Gaming Inc (NASDAQ:CRSR) has acquired certain assets from Drop, a company that develops and sells a portfolio of peripherals and enthusiast products. The deal, for an undisclosed amount, is expected to significantly grow the Drop brand worldwide and offer specialized Corsair and Elgato products to the enthusiast community. As of March 31, 2023, Corsair's cash and cash equivalents stood at $182.1 million. CRSR shares are trading lower by 0.78% at $17.61 premarket on the last check Monday.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 1:13 pm

TRUL

Florida's potential marijuana legalization initiative could generate between $195.6 million and $431.3 million in new sales tax revenue annually, according to estimates from the state legislature and Gov. Ron DeSantis's office. The state Financial Impact Estimating Conference (FIEC) has finalized its financial analysis, which will be provided to voters if the initiative makes the ballot. The Smart & Safe Florida campaign has collected enough signatures for ballot placement, but its language is currently being reviewed by the state Supreme Court. The marijuana company Trulieve has contributed more than $39 million to the campaign. If approved, the measure would allow existing medical cannabis companies like Trulieve to begin selling marijuana to all adults over 21.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:12 pm

NOVN

Trading of Novan Inc's shares (NOVN) is set to resume at 9:15 a.m. ET.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 1:12 pm