Streetbeat News

Stock Prices

MRUS

Merus shares are trading higher following the announcement of an abstract publication on petosemtamab in combination with pembrolizumab for the 2024 ASCO Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 11:41 am

LCID

Lucid Group (NASDAQ:LCID) announced a 6% workforce reduction, cutting 400 jobs to lower costs. The stock gained 3% in pre-market trading following the news. The layoffs are part of a restructuring plan expected to be completed by the end of Q3, with charges between $21 million to $25 million. Despite a significant net loss in Q1, Lucid has $5.03 billion in liquidity to sustain operations until the production of the Gravity SUV in 2025.

Portfolio Pulse from Anan Ashraf

May 24, 2024 | 11:39 am

Guardant Health shares are trading higher after the company announced that the FDA Advisory Committee Panel recommends approval of Shield blood test for colorectal cancer screening.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 11:38 am

MRUS

Merus announced the publication of an abstract on the combination of Petosemtamab and Pembrolizumab as a first-line treatment for recurrent/metastatic head and neck squamous cell carcinoma. The interim clinical data from 26 patients will be presented at the 2024 ASCO Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 11:38 am

BBIO

BridgeBio Pharma will present additional analyses from its Phase 3 ATTRibute-CM study of Acoramidis in patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) at the 2024 International Symposium on Amyloidosis (ISA) in Rochester, Minnesota, from May 26-30, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 11:35 am

AMZN

ASIA

BABA

EBIZ

GOOG

GOOGL

MSFT

Alibaba Group Holding Limited (NYSE:BABA) has expanded its global cloud computing availability, including a new zone in Mexico and plans for new data centers in Malaysia, Thailand, and South Korea. The company aims for double-digit growth in its cloud division and has launched an advanced version of its large language model, Tongyi Qianwen. Alibaba also expanded its partnership with LVMH and plans to raise $4.5 billion via a convertible bond offering. Despite these efforts, Alibaba's stock has lost 0.5% over the last 12 months.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 11:35 am

ROST

Ross Stores shares are trading higher following better-than-expected Q1 financial results and raised its FY24 EPS guidance.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 11:34 am

BAH

BKE

INTU

ROST

WDAY

Key stocks to watch today include Booz Allen Hamilton, Ross Stores, The Buckle, Intuit, and Workday. Booz Allen Hamilton is expected to report strong earnings, Ross Stores exceeded earnings expectations and raised its profit forecast, The Buckle is anticipated to post solid earnings, Intuit posted strong earnings but issued weak guidance, and Workday reported good earnings but lowered its forward guidance.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 11:30 am

ONDS

OPK

QRTEA

Insiders are buying shares of Qurate Retail, Ondas Holdings, and OPKO Health, indicating their confidence in these companies despite recent financial challenges.

Portfolio Pulse from Avi Kapoor

May 24, 2024 | 11:29 am

FBTC

GBTC

IBIT

Bitcoin spot ETFs have recorded $108 million in inflows, marking nine consecutive days of positive inflows, while the Grayscale Bitcoin Trust (GBTC) saw outflows of $13.7209 million. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) also saw significant inflows. Meanwhile, the potential approval of Ethereum ETFs raises questions about institutional interest, with predictions that they will hold only 10-15% of the assets managed by Bitcoin ETFs. Regulatory developments suggest a shift in how the SEC views Ethereum, potentially boosting market confidence.

Portfolio Pulse from Murtuza Merchant

May 24, 2024 | 11:27 am