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Stock Prices

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) CEO R.J. Scaringe warned investors of a challenging Q2 2024 due to production disruptions from integrating new equipment and robots at their Illinois factory. Despite a strong initial response to the upcoming R2 SUV and exceeding Q1 revenue expectations, Rivian reported a significant net loss and high per-vehicle loss. The company aims to produce 57,000 vehicles in 2024 and achieve a positive gross margin by Q4.

Portfolio Pulse from Anan Ashraf

May 31, 2024 | 11:47 am

GPS

Gap shares are trading higher following a Q1 revenue beat.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:46 am

PD

PagerDuty shares are trading higher following a Q1 earnings beat.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:46 am

ASAN

Asana shares are trading higher following better-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:46 am

VEEV

Veeva Systems shares are trading lower after the company issued weak revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:46 am

SMMT

Summit Therapeutics shares are trading lower after a significant rise of over 270% on Thursday due to positive cancer data.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:46 am

BURU

MDB

XHG

ZS

Zscaler, Inc. (NASDAQ:ZS) shares surged 17.5% in pre-market trading after reporting better-than-expected third-quarter earnings. The company posted a 32% year-over-year revenue increase to $553.2 million, beating estimates, and adjusted earnings of 88 cents per share, surpassing analyst expectations. Other notable pre-market movers include Nuburu, Inc. (NYSE:BURU), XChange Tec Inc (NASDAQ:XHG), and MongoDB, Inc. (NASDAQ:MDB).

Portfolio Pulse from Avi Kapoor

May 31, 2024 | 11:44 am

FBTC

GBTC

Bitcoin spot ETFs have seen a $48.706 million inflow on May 30, marking the thirteenth consecutive day of positive net inflows. The Grayscale Bitcoin Trust (GBTC) reported no outflows, while the Fidelity Wise Origin Bitcoin Fund (FBTC) saw a $119 million inflow. Ethereum spot ETF trading is progressing, with the SEC requesting draft S-1 filings from issuers.

Portfolio Pulse from Murtuza Merchant

May 31, 2024 | 11:40 am

AGRO

HRL

KR

SAM

TAP

The article highlights five oversold stocks in the consumer staples sector with RSI values near or below 30, indicating potential buying opportunities. The companies mentioned are Molson Coors Beverage Company, Adecoagro S.A., The Kroger Co., The Boston Beer Company, Inc., and Hormel Foods Corporation.

Portfolio Pulse from Avi Kapoor

May 31, 2024 | 11:38 am

VEEV

Veeva Systems Inc (NYSE:VEEV) reported better-than-expected Q1 earnings but issued weak revenue guidance, leading to a 3.2% drop in its share price. Analysts from Piper Sandler, B of A Securities, and Needham adjusted their price targets for the stock.

Portfolio Pulse from Avi Kapoor

May 31, 2024 | 11:38 am