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HOOD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline after Robinhood received a Wells Notice from the SEC, indicating potential enforcement action. This news negatively impacted the sentiment in the cryptocurrency market, with Ethereum leading in liquidations. Despite the downturn in cryptocurrencies, U.S. stock markets traded higher, buoyed by a weaker-than-expected U.S. jobs report which fueled speculation of a potential interest rate cut by the Federal Reserve.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 7:10 am

UBS

UBS Group reported Q1 2024 GAAP EPS of $0.52, surpassing the $0.24 estimate, with sales of $12.739B exceeding the $12.017B forecast. This represents a 62.5% increase in earnings and a 45.69% increase in sales from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:53 am

BP

BP reported Q1 2024 adjusted EPS of $0.97, missing the $0.98 estimate, and sales of $48.880 billion, missing the $55.076 billion estimate. This represents a 41.57% decrease in earnings and a significant decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:43 am

LCID

Lucid Group (NASDAQ:LCID) anticipates a sales decline in the next two quarters despite a nearly 40% increase in first-quarter deliveries to 1,967 vehicles. CEO Peter Rawlinson attributes the expected slowdown to seasonal factors, including vacations and a slowdown in Saudi Arabia, where over 25% of Lucid's sales occur. The Saudi Public Investment Fund (PIF), a major investor in Lucid, has contributed $6.4 billion since 2018 and agreed to purchase up to 100,000 vehicles over ten years. Despite a Q1 loss of $680.9 million, Lucid raised $1 billion from a PIF affiliate, boosting its liquidity to $5.03 billion. Lucid's stock saw a 9.5% increase before dropping 7.9% after hours.

Portfolio Pulse from Anan Ashraf

May 07, 2024 | 6:41 am

AAPL

RIVN

Apple, Inc. (AAPL) is rumored to be considering a partnership with Rivian Automotive, Inc. (RIVN) for electric vehicle development, following a report by Digitimes. This speculation arises despite Apple previously halting its self-driving car project, 'Project Titan', to focus on generative AI. Rivian, facing its own challenges with losses and production issues, is moving forward with its next-generation EVs on the R2 platform. Both companies have upcoming events, with Rivian reporting Q1 results and Apple hosting a hardware launch.

Portfolio Pulse from Shanthi Rexaline

May 07, 2024 | 6:35 am

HNRG

Hallador Energy (NASDAQ:HNRG) reported Q1 2024 earnings with a GAAP EPS of $(0.05), surpassing the $(0.18) estimate, but missed sales estimates with $109.672M against the expected $122.400M. This represents a significant decrease in both earnings and sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:29 am

BTCUSD

DOGEUSD

ETHUSD

Mark Cuban supports Dogecoin co-founder Billy Markus' social media activity, emphasizing the value of 'positive trolling.' Despite withdrawing from Dogecoin, Markus holds a small amount of DOGE and Bitcoin. Cuban, once a critic of cryptocurrencies, now advocates for Dogecoin, Bitcoin, and Ethereum, even accepting DOGE for Dallas Mavericks tickets and merchandise. Markus' engagement on X and Cuban's support may boost Dogecoin investor confidence, despite a recent decline in social activity around Bitcoin ETFs.

Portfolio Pulse from Kaustubh Bagalkote

May 07, 2024 | 6:27 am

KOS

Kosmos Energy (NYSE:KOS) reported Q1 2024 earnings of $0.21 per share, surpassing the $0.15 estimate, a 31.25% increase from last year. Sales reached $419.139M, beating the $415.105M estimate, marking a 6.42% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:24 am

AUDC

AudioCodes (NASDAQ:AUDC) reported Q1 2024 adjusted EPS of $0.17, missing the $0.23 estimate, and sales of $60.076M, below the $62.452M estimate. This represents a 112.5% increase in EPS and a 1.46% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:22 am

SBUX

Former TD Ameritrade CEO Joe Moglia criticized Starbucks CEO Laxman Narasimhan's handling of the company's falling stock performance on CNBC's 'Last Call'. Moglia disagreed with Narasimhan's optimism about the company's plan despite a decline in stock value, following a disappointing quarterly performance with a global decline in comparable store sales of 4%, affected by weather conditions and global conflicts. Starbucks' stock closed at $72.90 and was slightly up in after-hours trading.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 6:14 am