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BTCUSD

FTX, a bankrupt cryptocurrency exchange, announced plans to reimburse customers based on the value of their assets during its bankruptcy filing in November 2022, not their current value. This has caused dissatisfaction among customers as the value of cryptocurrencies, such as Bitcoin, has significantly increased since then. FTX has a substantial cash reserve, allowing it to fully reimburse its customers, with CEO John Ray stating the company will distribute $16.3 billion in cash among its creditors. Bitcoin's price action saw a slight decrease, trading 1.76% lower at $61,295.70.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 8:36 am

BTCUSD

ETHUSD

Donald Trump, during a campaign speech, endorsed cryptocurrencies and expressed his intention to allow crypto donations to his 2024 campaign. He also commented negatively on a meme coin parodying Joe Biden, which then surged over 14%. Trump's crypto portfolio is valued over $5.6 million, including MAGA Coin, Ethereum, Wrapped Ether, and other memecoins. His stance on Bitcoin has softened, contrasting with the Biden administration's veto against legislation for financial institutions to hold cryptocurrencies. Standard Chartered predicts a positive outlook for cryptocurrencies if Trump is re-elected.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 8:10 am

FUN

Cedar Fair (NYSE:FUN) reported Q1 2024 earnings with a GAAP EPS of $(2.63), missing the $(2.41) estimate, but sales of $101.615M exceeded the $92.356M estimate, marking a 20.18% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:02 am

SVCO

Silvaco has priced its initial public offering (IPO) of 6 million common shares at $19 per share, expecting to raise $114.0 million in gross proceeds before expenses. The shares will start trading on the Nasdaq Global Select Market under the ticker symbol 'SVCO' on May 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 7:55 am

AAPL

Apple Inc. (NASDAQ:AAPL) is facing challenges in finding a successor for CEO Tim Cook as he approaches potential retirement. With no clear timeline for Cook's departure, the company considers COO Jeff Williams and head of hardware engineering John Ternus as potential successors, despite concerns about their suitability for long-term leadership. Apple's recent financial performance remains strong, with a $110 billion stock buyback program and a slight dividend increase announced.

Portfolio Pulse from Ananya Gairola

May 09, 2024 | 7:27 am

DOGEUSD

FLOKIUSD

SHIBUSD

Floki, a cryptocurrency named after Elon Musk's dog, has become the title sponsor for the upcoming cricket series between Ireland and Pakistan, signaling its growing mainstream penetration, especially in sports. This partnership, along with previous sponsorships in cricket, aims to boost Floki's brand awareness and adoption among sports fans. Floki is trading up, contrasting with other meme cryptocurrencies like Dogecoin and Shiba Inu, which have lost value. Floki's efforts to add utility to its token, including a staking service and an asset tokenization platform, TokenFi, are part of its strategy to transcend the meme coin category.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 7:20 am

IMOS

ChipMOS TECHNOLOGIES (NASDAQ:IMOS) reported Q1 2024 adjusted EPS of $0.38, missing the consensus estimate of $0.57 by 33.33%. Quarterly sales were $169.7M, significantly below the $5.175B estimate, marking a 96.72% miss but a 12.31% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 7:04 am

FWRD

Forward Air (NASDAQ:FWRD) reported Q1 2024 adjusted EPS of $(0.64), missing the $(0.11) estimate significantly, and sales of $541.813M, also below the $604.012M estimate. This represents a 150.39% decrease in earnings and a 51.47% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 7:01 am

WBD

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is anticipated to report a narrower Q1 loss at 24 cents per share compared to last year's 44 cents, with revenue expected at $10.23 billion, down from $10.7 billion. The company has also entered a strategic advertising partnership with Locality. Analysts have mixed views, with ratings ranging from Underperform to Buy and price targets adjusted accordingly.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 6:36 am

HRB

RBLX

TSLA

UBER

USFD

The Dow Jones rose for the sixth consecutive session amid mixed U.S. stock performance and a slight improvement in market sentiment according to the CNN Money Fear and Greed index. Uber Technologies and Tesla saw significant share price declines due to disappointing financial results and legal scrutiny, respectively. The S&P 500 and Nasdaq Composite experienced minor losses, with certain sectors like utilities and financials outperforming. Investors are looking forward to earnings results from H&R Block, US Foods Holding, and Roblox Corporation.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 6:36 am