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Stock Prices

GME

GameStop Corporation has revealed its preliminary Q1 results, expecting net sales between $0.872 billion and $0.892 billion, significantly lower than the $1.05 billion estimate and $1.237 billion from the prior year. The company also anticipates a net loss between $27 million and $37 million, an improvement from the $50.5 million loss in the prior year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:27 am

DESP

Despegar.com shares are trading higher after the company reported better-than-expected Q1 2024 sales results.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:26 am

CBRL

Cracker Barrel shares are trading lower after the company reduced its dividend and said it expects Q3 and Q4 results below its prior expectations.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:25 am

HOOD

Robinhood Markets shares are trading higher after B of A Securities upgraded the stock from Underperform to Buy and raised its price target from $14 to $24.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:23 am

AMC

DOCS

DXC

GME

HOOD

QQQ

SPY

TTWO

WMT

Wall Street remains cautious as concerns about rising interest rates persist. Traders are looking for catalysts to propel the market higher, with meme stocks potentially providing support. Major indices are on track to close the week with gains, despite mixed economic data. Key stocks in focus include SPDR S&P 500 ETF Trust (SPY), Invesco QQQ ETF (QQQ), Walmart (WMT), Take-Two Interactive Software (TTWO), Doximity (DOCS), DXC Technology (DXC), GameStop (GME), AMC Entertainment (AMC), and Robinhood Markets (HOOD).

Portfolio Pulse from Shanthi Rexaline

May 17, 2024 | 11:12 am

MRNS

Marinus Pharmaceuticals (NASDAQ:MRNS) has completed enrollment for its Phase 3 TrustTSC trial evaluating ganaxolone for treating seizures in tuberous sclerosis complex (TSC) patients. Topline data is expected in Q4 2024, with a New Drug Application targeted for April 2025. A new method of use patent for ganaxolone in TSC has also been granted, expiring in 2040.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:02 am

TRMB

Trimble Inc. has announced that it expects to receive a notification of deficiency from Nasdaq due to a delayed filing of its quarterly report on Form 10-Q.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:01 am

FDIS

NVDA

TSLA

XLY

Tesla Inc. (NASDAQ:TSLA) is advancing its strategy to enhance its self-driving system using data collected in China by developing a local data center. This move aligns with broader efforts to secure local processing capabilities for its Full Self-Driving (FSD) system amid U.S. restrictions on AI technology transfers to China. Tesla has engaged in discussions with Nvidia Corp (NASDAQ:NVDA) regarding graphics processing units, although U.S. sanctions limit the sale of advanced chips to China. Tesla stock has gained more than 0.5% in the last 12 months, and investors can gain exposure via ETFs like Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS).

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 10:59 am

NVT

NVent Electric has approved a new 3-year share repurchase program, allowing the company to buy back up to $500 million of its shares starting July 23, 2024, following the expiration of its current program. As of March 31, 2024, NVent had approximately 166 million common shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 10:50 am

CAN

Canaan shares are trading higher after the company reported better-than-expected Q1 revenue, reiterated Q2 topline outlook, and issued Q3 revenue guidance.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 10:49 am