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AKAN

Akanda Corp. (NASDAQ:AKAN) shares are surging in premarket trading following the announcement of a 1-for-40 reverse stock split effective May 23, 2024. The company will file Articles of Amendment to reflect this change and will not issue fractional shares, rounding down instead. Akanda's portfolio includes CanMart in the U.K. and a Canadian farming property for THC and CBD development.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2024 | 12:50 pm

TSLA

Elon Musk criticized the Biden administration's recent 100% tariff on Chinese EV imports, calling it a market distortion. This is a shift from his previous stance on trade barriers. The tariffs aim to protect American automakers from Chinese competition.

Portfolio Pulse from Anan Ashraf

May 24, 2024 | 12:48 pm

JHX

OI

TG

The article highlights three oversold stocks in the materials sector: James Hardie Industries (JHX), O-I Glass (OI), and Tredegar Corporation (TG). These stocks have RSI values near or below 30, indicating potential undervaluation and a buying opportunity.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 12:45 pm

AMGN

BMY

VSTM

Verastem Oncology (NASDAQ: VSTM) announced interim results from its RAMP 205 trial, showing an 83% overall response rate in metastatic pancreatic cancer patients. The company also initiated a rolling submission of a New Drug Application (NDA) to the FDA for avutometinib and defactinib in recurrent KRAS mutant low-grade serous ovarian cancer. Verastem has collaborations with Amgen (NASDAQ: AMGN) and Bristol-Myers Squibb (NYSE: BMY) for other trials. VSTM shares are down 59% in premarket trading.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 12:45 pm

PBR

Brazil's Petrobras has approved the appointment of Magda Chambriard as its new Chief Executive, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:32 pm

GV

Visionary Holdings Inc. (NASDAQ:GV) announced a 1-for-15 share consolidation effective May 29, 2024. The company's shares will trade on a post-consolidation adjusted basis starting that day.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:31 pm

SPY

USA Core Durable Goods Orders for April increased by 0.4%, surpassing the estimated 0.1% and the prior 0.2%.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:30 pm

SPY

Durable Goods Orders for April increased by 0.7%, surpassing the estimated decline of 0.9%.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:30 pm

BKE

Buckle Inc. (NYSE:BKE) reported a 7.2% decline in first-quarter FY24 sales, missing analyst estimates. Comparable store net sales decreased by 9%, and online sales fell by 13.4%. Gross profit dropped by 9.4%, and EPS of $0.69 missed the consensus estimate of $0.74. BKE shares fell by 5.24% premarket.

Portfolio Pulse from Shivani Kumaresan

May 24, 2024 | 12:29 pm

AMAT

BULD

FTXL

TSM

Applied Materials Inc (NASDAQ:AMAT) is under scrutiny for potential violations of export restrictions to China, receiving subpoenas from the U.S. Department of Commerce, SEC, and U.S. Attorney’s Office. The company is under criminal investigation for allegedly shipping equipment to China's SMIC without export licenses. Despite these issues, AMAT's second-quarter revenue beat analyst expectations, and the stock has gained over 79% in the last 12 months. Investors can gain exposure to AMAT through ETFs like First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) and Pacer BlueStar Engineering The Future ETF (NASDAQ:BULD).

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 12:29 pm