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LI

NIO

XPEV

Nio, Inc. (NASDAQ:NIO) stock surged in premarket trading despite weak U.S. index futures, attributed to the announcement of its new subsidiary brand ONVO and its first model L60, aimed at the low-end market. The L60 is set to compete with Tesla's Model Y. Additionally, Nio celebrated the production of its 500,000th mass-market vehicle. Positive momentum was also supported by China's better-than-expected April trade data. Nio's domestic counterparts, XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI), also experienced premarket gains.

Portfolio Pulse from Shanthi Rexaline

May 09, 2024 | 11:48 am

ALZN

Alzamend Neuro's stock price increased following the announcement of a Securities Purchase Agreement with an institutional investor. This agreement likely involves the sale of company securities to raise funds, which investors may interpret as a positive development for Alzamend's financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:47 am

OPTN

Optinose projects its Xhance net revenues to range from $85 million to $95 million for the year 2024, indicating a positive outlook for the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:44 am

FWRD

Forward Air shares are trading lower following the announcement of worse-than-expected Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:43 am

HOOD

JPMorgan analysts believe the SEC's scrutiny of Robinhood (NASDAQ:HOOD) over its crypto operations won't affect the approval of spot Ethereum ETFs. Despite Robinhood facing a Wells notice for potential enforcement related to cryptocurrency trading, the analysts see a path for Ethereum ETFs similar to Bitcoin's, possibly facing legal challenges but ultimately gaining approval. The market's reaction has been muted, with Grayscale shifting focus towards converting its Ethereum trust into a spot ETF, anticipating regulatory decisions by May 23.

Portfolio Pulse from Murtuza Merchant

May 09, 2024 | 11:42 am

EQIX

Equinix shares are trading higher following the release of their Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:42 am

MSGE

Madison Square Garden (MSGE) reported Q3 2024 earnings of $0.06 per share, beating estimates of $(0.12), but sales of $228.313M missed estimates of $324.634M. Earnings decreased by 85.71% from the same period last year, while sales increased by 13.46%.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:41 am

H

Hyatt Hotels' shares declined after the company reported earnings for the first quarter that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:41 am

FOXA

B of A Securities analyst Jessica Reif Ehrlich upgrades Fox Corporation (NASDAQ:FOXA) from Neutral to Buy and increases the price target from $34 to $40.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:41 am

SPH

Suburban Propane Partners (NYSE:SPH) reported Q2 2024 earnings of $1.63 per share, missing the $1.89 estimate, with sales of $498.09M also missing the $511.00M estimate, marking a 5.40% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:41 am