Streetbeat News

Stock Prices

BNED

JAN

TVGN

JanOne Inc. shares surged 19% in pre-market trading following the announcement of its plans to acquire ALT 5 Sigma Inc. Other stocks also showed significant movement in pre-market trading, with Tevogen Bio Holdings, Nauticus Robotics, GameStop Corp., and KOSS Corp among the gainers. Conversely, Barnes & Noble Education, Seritage Growth Properties, and Applied DNA Sciences were among the notable losers.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 9:46 am

AAPL

Apple Inc. has seen a significant increase in iPhone exports from India, with April figures nearly doubling to $1.1 billion from $580 million the previous year. This growth could position India as Apple's second-largest iPhone manufacturing hub after China. Currently, 14-15% of Apple's total iPhone production is in India, with projections to rise to 26% by 2026. Apple's production in India for FY2024 reached $14 billion, with exports over $10 billion, marking the highest annual export value by any company in India. Apple's contract manufacturers in India, including Foxconn, Wistron (now owned by Tata Group), and Pegatron (in talks for a majority stake sale to Tata), benefit from India's production-linked incentive (PLI) scheme. Apple's market presence in India is also growing, with a 38% YoY growth and aims to increase its local market share.

Portfolio Pulse from Shomik Sen Bhattacharjee

May 13, 2024 | 9:37 am

TSLA

Used Tesla Cybertrucks are being listed for sale at premium prices, with over 145 listed on CarGurus and about 125 on Kelly Blue Book. Despite Tesla's attempts to curb resale, including a clause requiring Tesla's written consent for resale within a year of delivery, prices for used Cybertrucks have reached over $200,000. Tesla plans to deliver 250,000 Cybertrucks per year starting in 2025.

Portfolio Pulse from Anan Ashraf

May 13, 2024 | 9:17 am

AMD

AMD's new Instinct MI300A APU is powering three supercomputers in the latest Top500 rankings, showcasing its leadership in high performance computing (HPC). The Frontier supercomputer remains the world's fastest, while three new systems at Lawrence Livermore National Laboratories mark the first Top500 inclusion of supercomputers powered by the MI300A APU. AMD's presence on the Top500 list has increased by 29 percent from the previous year, with 156 supercomputers now powered by AMD technology.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:14 am

TME

Tencent Music Entertainment (TME) reported a Q1 decrease in Monthly Active Users (MAU) for its Online Music and Social Entertainment services. Online Music MAUs fell by 2.4% year-over-year to 578 million, while Mobile MAUs for Social Entertainment plummeted by 28.7% to 97 million.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:08 am

DXYZ

META

Meta Platforms Inc.'s Chief AI Scientist, Yann LeCun, criticized OpenAI's early investor, Vinod Khosla, for supporting a closed-source approach to AI, motivated by financial gains and concerns over China's access to AI technology. LeCun advocates for open-source AI to ensure a diverse and democratic future. Meanwhile, Destiny Tech100 Inc. fund, which invests in tech companies including OpenAI, has seen a significant drop in value.

Portfolio Pulse from Rounak Jain

May 13, 2024 | 9:05 am

DOGEUSD

FLOKIUSD

PEPEUSD

SHIBUSD

Memecoins like Pepe, Floki, and Dogecoin have shown resilience in the current cryptocurrency market downturn, with gains of 17%, 11%, and 8.5% respectively over the past two weeks. In contrast, newer memecoins and tokens like Popcat, MAGA Coin, and Jeo Boden have underperformed, with Jeo Boden crashing 37%. The performance of established memecoins highlights their community support and ability to navigate bearish markets.

Portfolio Pulse from Aniket Verma

May 13, 2024 | 9:05 am

IPX

Trading for IPX was halted at 3:58:15 a.m. ET due to pending news. The specific reasons for the halt are not disclosed, indicating that significant news affecting the company is expected to be released. Investors should monitor this situation closely as the pending news could have a substantial impact on the stock's performance once trading resumes.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:58 am

PEV

Phoenix Motor Inc. (NASDAQ:PEV) has initiated the production of its fourth-generation drivetrain for Class-4 shuttle buses and trucks, marking a significant advancement in its electric vehicle offerings. The new drivetrain features enhanced efficiency, safety, and charging capabilities. The first two units of this generation will be delivered to customers in New Jersey, reinforcing Phoenix's position as a pioneer in the electric commercial vehicle market in the US.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:52 am

FXI

KBA

KWEB

MCHI

In the first quarter of 2024, a record number of U.S.-listed China-focused ETFs have shut down, with 13 closures reported, surpassing the previous annual records. This trend is attributed to growing investor concerns and political pressures, with both China-focused and ESG ETFs becoming 'political footballs'. Despite this, the assets held by China-focused ETFs have increased to $364 billion. Key ETFs like KWEB, KBA, MCHI, and FXI have outperformed major U.S.-equity ETFs, indicating a potential market shift.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 7:42 am