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Stock Prices

NKLA

Nikola Corp (NASDAQ:NKLA) reported a rise in the average sales price of its fuel cell electric vehicle (FCEV) trucks by $30,000 in Q1 compared to the previous quarter, reaching $381,000. Unlike other EV makers facing price drops amid a price war, Nikola plans to maintain flexibility in pricing for large fleet deals to expand its customer base beyond California and Canada. The company aims to target fleets with over 1000 trucks and is open to adjusting prices for significant deals. Nikola wholesaled 40 trucks, produced 43, and reported a Q1 revenue of $7.5 million with a net loss of $147.7 million. Nikola's stock fell 5.4% to $0.6 on Tuesday, marking a nearly 27% decline year-to-date.

Portfolio Pulse from Anan Ashraf

May 08, 2024 | 12:12 pm

IMCC

IM Cannabis (NASDAQ:IMCC) reported Q1 losses of $(0.31) per share, missing the $(0.20) estimate by 55%, and a 1650% decrease from last year's earnings. Sales were $8.95M, missing the $10.60M estimate by 15.58%, and down 8.16% from last year.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:10 pm

BUD

Anheuser-Busch InBev SA/NV (NYSE:BUD) shares surged after reporting Q1 FY24 earnings that exceeded expectations, with a 2.6% organic sales growth to $14.547 billion, surpassing analyst estimates. The company saw a slight decline in total volumes but increased revenue per hl and expanded gross profit and margin. EBITDA grew 5.4% organically, and underlying profit and EPS also beat estimates. The company anticipates FY24 EBITDA growth of 4%-8% and plans $4 billion to $4.5 billion in capital expenditures. BUD shares rose 4.84% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 08, 2024 | 12:09 pm

MSFT

President Joe Biden and Microsoft Corp. President Brad Smith are set to announce a $3.3 billion investment in an artificial intelligence data center in Racine County, Wisconsin. This investment is on the same land where a failed tech project by Foxconn, a supplier for Apple, was initially planned. The announcement is part of Biden's efforts to promote bipartisan infrastructure and semiconductor subsidies, aiming to boost domestic manufacturing and investments across the U.S. This move is also seen as crucial for Biden's reelection campaign, especially in the key battleground state of Wisconsin.

Portfolio Pulse from Benzinga Neuro

May 08, 2024 | 12:08 pm

COIN

THCP

Japanese cryptocurrency exchange Coincheck is set to list on the Nasdaq through a merger with SPAC Thunder Bridge Capital Partners IV (THCP), aiming for completion in Q2 or Q3 2024. This move, indicative of the growing mainstream adoption of digital assets, will see Coincheck trading under the ticker symbol 'CNCK'. The merger is expected to enhance Coincheck's global visibility and credibility, positioning it alongside other publicly traded exchanges like Coinbase Inc. (NASDAQ:COIN).

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 12:08 pm

RNG

RPTX

TMCI

RingCentral, Inc. (NYSE:RNG) shares surged 13.4% in pre-market trading after reporting Q1 financial results that exceeded expectations and raising FY24 guidance. Other stocks also showed significant movement in pre-market trading, with notable gainers including Repare Therapeutics Inc., Neo-Concept International Group Holdings Limited, and losers such as Treace Medical Concepts, Inc., and DoubleVerify Holdings, Inc. due to various financial results and guidance updates.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 12:07 pm

APEI

BROS

CPNG

CRCT

GENI

NCI

PRTS

RMBL

SLNA

VEEE

VLCN

In Wednesday's pre-market session, 12 consumer discretionary stocks showed significant movement. Gainers included Neo-Concept International, Cricut, Dutch Bros, Genius Sports, American Public Education, and RumbleON, with increases attributed to Q1 earnings reports. Losers were Volcon, CarParts.com, Twin Vee PowerCats, Selina Hospitality, Coupang, and LL Flooring Holdings, also reacting to their Q1 earnings. The movements reflect immediate market reactions to the latest earnings reports.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:06 pm

ENVB

INSP

RPTX

TMCI

In Wednesday's pre-market session, health care stocks showed significant movement with Repare Therapeutics, Enveric Biosciences, Clover Health Investments, Envoy Medical, Myriad Genetics, and CEL-SCI posting gains, while Treace Medical Concepts, Inspire Medical Systems, Immuron, Semler Scientific, Nuwellis, and OPKO Health reported losses. Most movements were influenced by the release of Q1 earnings.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:06 pm

CDRE

INOD

ISUN

UBER

In Wednesday's pre-market session, several industrials stocks showed significant movement. iSun, Innodata, and Zeo Energy were among the top gainers, with iSun leading at a 68.0% increase. On the losing side, Cadre Holdings, LegalZoom.com, and Graphex Group saw notable declines, with Cadre Holdings dropping by 21.4%. Earnings reports released yesterday influenced many of these movements, impacting companies like Innodata, Cadre Holdings, LegalZoom.com, Shoals Technologies Group, and Uber Technologies.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:06 pm

RNG

SLNH

TWLO

In Wednesday's pre-market session, several information technology stocks showed significant movement. Soluna Holdings, RingCentral, Mawson Infra Gr, Cirrus Logic, Olo, and Veritone reported gains, largely attributed to their recent earnings reports. Conversely, DoubleVerify Holdings, Alpha Technology Group, Corsair Gaming, Ostin Technology Group, Twilio, and Auddia experienced declines, with DoubleVerify's notable 40.8% drop also following its earnings release.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:06 pm