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C

SPY

Citi has revised its forecast for the first Federal Reserve rate cut, moving it from July to September. This change could impact financial markets and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:57 pm

UBER

Uber's stock surged over 7% following the approval of its license to operate in Aberdeen, marking a 12% increase for the year. This move is seen as a positive step to address transportation issues in the city and reflects growing investor confidence.

Portfolio Pulse from Zaheer Anwari

June 07, 2024 | 1:57 pm

AAPL

BIDU

INTC

NVDA

Nvidia faces competition from Huawei's new AI chip, the Ascend 910B, which reportedly matches or surpasses Nvidia's A100 in some tests. This comes amid US export restrictions on Nvidia's advanced GPUs to China. Huawei's AI strategy has gained traction domestically, with major Chinese tech firms adopting its chips. Despite technological challenges, Huawei's AI chips present substantial competition to Nvidia within China. Nvidia's market valuation recently surpassed $3 trillion, but its shares were trading lower by 1.15% at $1,196.05.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 1:56 pm

GME

GameStop Corp (NYSE:GME) experienced a significant price surge, closing at $46.55 with a 47.45% jump on Thursday, but fell 13.9% on Friday morning following an earnings miss. The stock's recent volatility is driven by high short interest and the return of Keith Gill, aka Roaring Kitty, who announced a live stream event. GME's short interest remains high, with 68.39 million shares shorted, equating to 21.84% of the float.

Portfolio Pulse from Surbhi Jain

June 07, 2024 | 1:55 pm

VERO

Venus Concept shares have resumed trading after a temporary halt. The company, which trades under the ticker VERO, is expected to see short-term volatility as trading activity picks up.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:51 pm

BMEA

BNED

LFLY

SCNI

TPHS

VERO

U.S. stocks traded lower following the release of May's jobs data, which showed a higher-than-expected increase in nonfarm payrolls. The Dow, NASDAQ, and S&P 500 all fell. Notable stock movements included significant gains for Venus Concept Inc., Trinity Place Holdings Inc., and Leafly Holdings, Inc., while Biomea Fusion, Inc., Barnes & Noble Education, Inc., and Scinai Immunotherapeutics Ltd. saw substantial declines.

Portfolio Pulse from Avi Kapoor

June 07, 2024 | 1:50 pm

RAPP

Trading halt status for an IPO security was updated at 9:50:00 AM ET, and the security has been released for quotation.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:50 pm

BMY

GERN

The FDA has approved Geron Corporation's (NASDAQ:GERN) first commercial drug, Rytelo (imetelstat), for treating adult patients with low-to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia. This approval is based on successful Phase 3 trial results and positions Rytelo as a competitor to Bristol Myers Squibb's (NYSE:BMY) Reblozyl (luspatercept-aamt).

Portfolio Pulse from Vandana Singh

June 07, 2024 | 1:49 pm

GME

GameStop shares were halted to the downside and are now down by 5.84%.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:47 pm

AMC

AMC Entertainment shares have resumed trading after a temporary halt. This development is significant for investors as it may impact the stock's short-term price movement.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:47 pm