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Stock Prices

QNCX

Quince Therapeutics, Inc. (NASDAQ:QNCX) has announced plans to acquire EryDel SpA, a late-stage biotech company. The deal involves a stock-for-stock upfront exchange and potential downstream milestone cash payments totaling up to $485 million. Upon completion, EryDel stockholders will own up to 16.7% of the combined company. The transaction will also include the assumption of EryDel's $13 million European Investment Bank loan.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:05 am

AMC

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) are surging premarket following the Delaware Court of Chancery’s ruling against a settlement proposed by the company to convert its preferred equity shares (APEs) into common shares and implement a 10-for-1 reverse stock split. The company intended to raise capital to avert potential bankruptcy, but the plan was met with opposition from shareholders. AMC CEO Adam Aron emphasized the need for fresh equity and warned of the company running out of cash in 2024 or 2025.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 11:01 am

BABA

CVX

DPZ

NKLA

NVDA

TSLA

WHR

Cathie Wood's Ark ETF exited from Alibaba and other stocks. Domino's Pizza, Whirlpool and 3 other stocks are to be watched. Tesla reportedly removes Bitcoin as payment option but keeps Dogecoin. Bitcoin's price could skyrocket to $120,000, says analyst. NVIDIA GeForce RTX 4060 Ti 16 GB faces price drop in Europe. Nikola's truck caught fire again. Twitter CEO Linda Yaccarino says X.com will be powered by AI. Chevron CEO to stay put as Q2 earnings impress Wall Street. Bain Capital acquires 90% interest in Adani Capital & Adani Housing.

Portfolio Pulse from Akanksha Bakshi

July 24, 2023 | 10:48 am

BOH

Bank of Hawaii (NYSE:BOH) reported Q2 earnings of $1.12 per share, in line with analyst consensus. However, the company's quarterly sales of $167.60 million missed the estimate of $170.07 million by 1.45%. This represents a 18.84% decrease in earnings and a 4.26% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 10:47 am

APE

CTGO

DWAC

NKLA

PSQH

SIRI

TMC

TWLO

Several stocks recorded losses in Monday's pre-market trading session. Contango Ore, Inc. (CTGO) shares dipped 24.3% after reporting an underwritten public offering of common stock. PSQ Holdings, Inc. (PSQH) declined 11.6% following the completion of its business combination with Colombier Acquisition Corp. AMC Entertainment Holdings, Inc. (APE) tumbled 7.2% after a judge denied the company from converting its preferred equity units into common stock. Digital World Acquisition Corp. (DWAC), ZoomInfo Technologies Inc. (ZI), TMC the metals company Inc. (TMC), Sirius XM Holdings Inc. (SIRI), Twilio Inc. (TWLO), and Nikola Corporation (NKLA) also recorded losses.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 10:45 am

ABNB

AMD

AXP

SLB

The S&P 500 and Dow Jones recorded slight gains on Friday, while the Nasdaq 100 also rose by 0.20%. Schlumberger Limited reported worse-than-expected Q2 revenue results, causing its shares to fall by 2.2%. American Express Company reported better-than-expected Q2 earnings and reaffirmed its FY23 outlook. The Fed is expected to increase interest rates by 25 basis points this week. The CBOE Volatility Index fell by 3.5%.

Portfolio Pulse from Lisa Levin

July 24, 2023 | 10:45 am

AAPL

Apple Inc. is reportedly considering increasing the price of its Pro models, according to Bloomberg. The potential price hike is yet to be confirmed by the company.

Portfolio Pulse from Charles Gross

July 24, 2023 | 10:43 am

SAP

VOD

Vodafone Group Plc's shares are trading higher after its Q1 FY24 trading update. Despite a revenue decline of 4.8% Y/Y to €10.7 billion, organic revenues rose 3.7% Y/Y due to service revenue improvement across most European markets. However, service revenues fell in Germany, Italy, and Spain. UK and Africa saw growth in service revenue. Vodafone reiterated its FY24 adjusted EBITDAaL outlook at about €13.3 billion and adjusted free cash flow guidance at around €3.3 billion. The company also announced the appointment of Luka Mucic as the new CFO and Executive Director, effective September 1, 2023. Mucic previously worked at SAP SE as CFO for around nine years.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 10:41 am

GOOGL

META

MSFT

NFLX

QQQ

SPY

TSLA

US stocks are expected to start the week positively, driven by anticipation of tech earnings. The market has already factored in a 25 basis point hike from the Federal Reserve. Last week saw positive market performance from blue-chip and small-cap stocks, while tech stocks experienced turbulence due to earnings reports from Tesla and Netflix. The upcoming week is expected to be dictated by tech earnings, with Microsoft, Alphabet, and Meta Platforms being key. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.24% and the Invesco QQQ ETF gained 0.29%.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 10:35 am

AAPL

SSNLF

Samsung is facing a shift in consumer preference in its home market, South Korea, as young millennials and Gen-Z are increasingly buying Apple's iPhones over Samsung's Galaxy smartphones. According to a Gallup Korea survey, 65% of young users are buying iPhones while only 32% are choosing Samsung Galaxy smartphones. This is a 13% increase in iPhone's share amongst young users aged 18-29 years compared to 2022. However, Samsung's upcoming foldable phones could potentially attract these users back.

Portfolio Pulse from Rounak Jain

July 24, 2023 | 10:30 am