Streetbeat News

Stock Prices

ASML

NVDA

TCEHY

Huawei Technologies is expanding its semiconductor R&D efforts in Shanghai as a countermeasure to U.S. export controls, focusing on developing lithography machines essential for advanced chip production. This move aims to reduce reliance on foreign technology and strengthen its semiconductor supply chain, potentially impacting the market positions of Nvidia, AMD, and ASML Holding.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 8:28 am

DCFC

Tritium has been notified by Nasdaq about its non-compliance with the Public Float Standard. The company plans to present a compliance plan during a scheduled hearing with the Nasdaq Hearings Panel, aiming to keep its shares trading on Nasdaq until a final decision is made.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:41 am

TIP

Former Treasury Secretary Larry Summers warned that a rate cut in June could be a 'dangerous and egregious error' following hotter-than-expected March inflation data. Consumer prices rose more than anticipated, with core and super core inflation rates also exceeding forecasts. Summers highlighted the risk of ignoring inflation pressures, especially with the economy growing faster than potential and short-term Treasury rates exceeding longer-term rates. This suggests the neutral rate is above the 2.6% level used by the Fed. The futures market has since adjusted, showing an 83% probability of the Federal Reserve maintaining the current rate. The iShares TIPS Bond ETF (TIP) fell 0.96% to $105.84.

Portfolio Pulse from Shanthi Rexaline

April 11, 2024 | 7:39 am

SHLT

A study by Imperial College London found that SHL Telemedicine's SmartHeart® technology significantly reduces hospital readmissions by 76% and emergency department visits by 41% for post-heart attack patients. This underscores the effectiveness of SHL's remote cardiac care solutions.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:30 am

TSM

The U.S. has surpassed China as Taiwan's largest export market for the first time in over two decades, with Taiwanese exports to the U.S. increasing by 65.7% year-on-year in March to $9.1 billion. This shift reflects efforts by the U.S. to reduce dependence on Chinese goods and is part of broader changes in global trade dynamics. The change comes amid significant geopolitical events, including meetings between Chinese and U.S. leaders, a major earthquake in Taiwan affecting the semiconductor supply chain, and a surge in Taiwan's ETF market driven by AI stock interest, notably in Taiwan Semiconductor Manufacturing Co (TSM).

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 7:27 am

KARS

Cathie Wood's Ark Investment Management, through its Director of Research Sam Korus, argues that electric vehicles (EVs) are not seeing a decline in adoption but are instead entering a traditional adoption curve. Despite a slowdown in sales growth rates from 113% in 2021 to 28% in 2023, the global market share of EVs nearly doubled from 4.8 million units to around 10 million units, indicating healthy market dynamics. Korus emphasizes the importance of market share over growth rates and suggests that EVs, with only a 13% global market share, are still in the early stages of adoption. He warns that traditional automakers reducing EV investments may miss out on the industry's transition.

Portfolio Pulse from Shanthi Rexaline

April 11, 2024 | 7:21 am

PACS

PACS Group has priced its upsized initial public offering (IPO) at $450 million, offering 21,428,572 common shares at $21 each. The shares are set to begin trading on the NYSE under the ticker symbol 'PACS' on April 11, 2024, with the offering expected to close by April 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:16 am

LAKE

Lakeland Industries (NASDAQ:LAKE) reported a Q4 EPS of $(0.13), missing the analyst consensus estimate of $0.30 by 143.33% and marking a 750% decrease from last year's $0.02 EPS. Quarterly sales were $31.20M, missing the $32.50M estimate by 4% but showing a 7.59% increase from last year's $29.00M.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:11 am

DLAKY

Lufthansa (OTC:DLAKY) has temporarily halted its flights to Tehran due to the ongoing crisis in the Middle East, following a suspected Israeli airstrike on the Iranian embassy in Syria. The suspension, which began on April 6, is expected to last until at least April 11, reflecting the airline's commitment to safety. This decision comes amid heightened tensions in the region, with the U.S. warning of potential Iranian retaliatory attacks. The situation has also led to a sharp rally in oil prices.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 7:11 am

BRK

TSLA

Jim Cramer expressed concerns over Wall Street's diminishing confidence in Tesla's CEO, Elon Musk, due to Tesla's falling stock price and increasing competition. He contrasted this with the admiration for Warren Buffett and his firm, Berkshire Hathaway, highlighting its strong portfolio and business model. Tesla's stock has seen a significant drop, over 30% year to date, amidst concerns over its electric vehicle prices and Musk's focus on other ventures.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 6:53 am