Streetbeat News

Stock Prices

LYV

Concert ticket prices have surged significantly, leading to speculations about their potential impact on inflation. Fans are paying high amounts to see top music acts like Taylor Swift and Bruce Springsteen. The U.S. Labor Department’s inflation rate for live-performing admission events is currently 2.6 percentage points more than U.S. headline inflation. Live Nation Entertainment (NYSE:LYV) reported a 41% rise in ticket sales in the first quarter, with prices up by double digits.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 3:29 am

AMD

ASTS

BDTX

NVDA

TSLA

U.S. stocks traded higher with the Nasdaq Composite gaining more than 200 points. Tesla, Nvidia, Black Diamond Therapeutics, Advanced Micro Devices, AST SpaceMobile, and Micron Technology were among the top stocks that gained attention. Tesla's new registrations in China accelerated, Black Diamond Therapeutics demonstrated anti-tumor activity, Nvidia partnered with Snowflake, Advanced Micro Devices saw a purchase from ARK Investment Management, AST SpaceMobile announced a public offering, and Micron Technology saw a bearish stance from a large investor.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 2:43 am

QQQ

SPY

Mohamed El-Erian, Allianz's chief economic adviser, has expressed confidence in the latest set of economic data, stating that there is no reason for the US to fall into recession. He highlighted the rise in The Conference Board Consumer Confidence Index and the upbeat housing market data. The Nasdaq Composite and the S&P 500 ended over 1% higher on Tuesday. The SPDR S&P 500 ETF Trust (NYSE:SPY) closed 1.1% higher while the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) gained 1.72% on Tuesday.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 2:15 am

NVO

Aileen Lee, partner at Cowboy Ventures, likened the current fiscal tightening in Silicon Valley to the effects of the weight loss drug Ozempic, suggesting startups will need to 'do more with less and become healthier'. This comes in response to the capital challenges startups have faced since early 2022. Novo Nordisk (NASDAQ:NVO), the manufacturer of Ozempic, has seen a surge in demand for the drug due to its effectiveness in weight loss.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 1:13 am

AMD

INTC

NVDA

SMH

The US government is considering implementing new restrictions on the export of AI chips to China, according to a report by the Wall Street Journal. This could potentially impact US-based chip manufacturers such as AMD, Intel, and Nvidia.

Portfolio Pulse from Bill Haddad

June 27, 2023 | 11:05 pm

GME

GameStop Corp (NYSE:GME) is analyzed as a compelling investment opportunity due to ventures into web3, NFTs, digital video game skins, strategic partnerships, financial stability, e-commerce growth, omnichannel integration, insider ownership, increased brand recognition, and exceptional stock performance. Partnerships with Loopring, Immutable X, and Microsoft are highlighted. Gamestop's stock performance has increased by 2,024% over the last three years, compared to the S&P 500's return of 42% during the same period.

Portfolio Pulse from Kevin Malone

June 27, 2023 | 9:45 pm

Novagold Resources (AMEX:NG) reported its Q2 earnings, missing estimated earnings by 100.0% with an EPS of $-0.04 versus an estimate of $-0.02. Revenue was down $0 from the same period last year. Last quarter, the company also missed on EPS which was followed by a 7.94% drop in the share price the next day.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:45 pm

MLM

Martin Marietta Materials (NYSE:MLM) has outperformed the market over the past 15 years, producing an average annual return of 10.97%. If an investor had bought $100 of MLM stock 15 years ago, it would be worth $457.77 today. The company currently has a market capitalization of $28.02 billion.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:31 pm

Kroger (NYSE:KR) has outperformed the market over the past 20 years, producing an average annual return of 8.81%. If an investor had bought $1000 of KR stock 20 years ago, it would be worth $5,541.47 today. The company currently has a market capitalization of $33.57 billion.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:30 pm

CARA

CGC

CNVCF

ITHUF

SMG

VFF

Cannabis stocks showed mixed results on June 27, 2023. iAnthus Capital Hldgs (OTC:ITHUF), Cara Therapeutics (NASDAQ:CARA), Scotts Miracle Gro (NYSE:SMG), and BioHarvest Sciences (OTC:CNVCF) shares closed up, while Canopy Gwth (NASDAQ:CGC) and Village Farms Intl (NASDAQ:VFF) shares closed down.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 9:30 pm