Streetbeat News

Stock Prices

AAL

LUV

UAL

Southwest Airlines (NYSE:LUV) is under pressure from Elliott Investment Management, which recently acquired a $1.9 billion stake, to reconsider its 'bags fly free' policy. Elliott is pushing for strategic changes, including the introduction of baggage fees, which could impact Southwest's customer loyalty. The airline's CEO, Bob Jordan, reaffirmed the commitment to the free bag policy, but potential compromises may be on the horizon.

Portfolio Pulse from Shivani Kumaresan

June 12, 2024 | 11:54 am

JNJ

Johnson & Johnson (NYSE:JNJ) has agreed to pay $700 million to settle a multi-state investigation into its talc-based products, which were alleged to cause cancer. The settlement involves 42 U.S. states and Washington, D.C. Despite the settlement, J&J has not admitted to any wrongdoing and still faces numerous lawsuits related to its talc products.

Portfolio Pulse from Benzinga Neuro

June 12, 2024 | 11:53 am

RBRK

Rubrik shares are trading higher after the company reported a year-over-year increase in Q1 sales results and issued Q2 revenue guidance above estimates. Additionally, the company provided FY25 guidance above estimates.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:43 am

RTO

Rentokil shares are trading higher following a report suggesting Trian has amassed a stake in the company.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:37 am

NVGS

Navigator Holdings Ltd. (NYSE:NVGS) announced the upsize and pricing of a secondary public offering of 7 million shares by BW Group Limited at $15 per share. The offering is expected to close around June 13, 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:37 am

BTCUSD

Billionaire investor Bill Miller believes Bitcoin remains significantly undervalued despite its recent performance against fiat currencies. He highlights Bitcoin's potential as a superior monetary governance system free from human intervention and manipulation.

Portfolio Pulse from Murtuza Merchant

June 12, 2024 | 11:32 am

MSFT

ORCL

Oracle shares are trading higher despite a Q4 miss. The company announced a partnership with Microsoft and OpenAI to extend the Microsoft Azure AI platform to Oracle Cloud Infrastructure, providing additional capacity for OpenAI.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:31 am

AAPL

AVGO

CASY

ORCL

OXM

PLAY

QQQ

SPY

The market is poised for further gains, with the S&P 500 and Nasdaq Composite hitting record highs. Investors are focused on the upcoming inflation report and the Federal Reserve's rate decision. Oracle's positive earnings may support tech stocks, while Apple led the tech charge in the previous session. Key economic data and Fed commentary will be crucial for market direction.

Portfolio Pulse from Shanthi Rexaline

June 12, 2024 | 11:26 am

FERG

RTO

Rentokil Initial Plc (NYSE:RTO) shares surged after activist investor Nelson Peltz’s Trian Fund Management LP increased its stake, making it one of the top ten shareholders. This move has revived Rentokil’s shares, which had previously suffered due to a post-COVID market slump. Trian’s involvement often precedes major strategic shifts aimed at enhancing shareholder value.

Portfolio Pulse from Shivani Kumaresan

June 12, 2024 | 11:24 am

RNA

Avidity Biosciences reported over 50% reduction in DUX4 regulated genes in its Phase 1/2 FORTITUDE trial for facioscapulohumeral muscular dystrophy (FSHD). The company plans to accelerate the initiation of registrational cohorts. The investigational therapy, delpacibart braxlosiran (AOC 1020), showed promising results in muscle strength and patient outcomes, with favorable safety and tolerability.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:13 am