Streetbeat News

Stock Prices

JPM

MTB

SCHW

WFC

U.S. stocks closed lower on Friday amid geopolitical concerns, with the Dow Jones dropping around 475 points. The Fear & Greed Index remained in the 'Neutral' zone. JPMorgan Chase & Co. shares fell over 6% following Q1 earnings, while Wells Fargo and Citigroup Inc reported better-than-expected earnings. All sectors of the S&P 500 closed negatively, with significant losses in information technology, materials, and consumer discretionary stocks. Investors are looking forward to earnings results from M&T Bank Corporation, The Charles Schwab Corporation, and The Goldman Sachs Group, Inc.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 5:49 am

CISS

MTB

SCHW

WIRE

Goldman Sachs, Charles Schwab, Encore Wire, C3is Inc., and M&T Bank are stocks to watch with various expected earnings reports and significant corporate actions. Goldman Sachs is anticipated to report a slight decrease in earnings per share compared to last year, with an increase in revenue. Encore Wire is being acquired by Prysmian, while C3is Inc. has entered an agreement to acquire a bulk carrier. Charles Schwab and M&T Bank are also expected to release their quarterly earnings, with specific earnings per share and revenue projections.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 5:48 am

AAPL

Apple Inc. CEO Tim Cook's visit to Vietnam signifies a deeper commitment to the region, with plans to increase investments in local suppliers and support community initiatives. This move is part of Apple's broader strategy to diversify its manufacturing base beyond China, amid declining iPhone shipments and efforts to mitigate geopolitical risks. The company is also expanding its global footprint, with increased activities in Latin America and new product launches on the horizon.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 5:30 am

DOGE-USD

Cryptocurrency social media personality, Yomi, highlighted the importance of a green week for Dogecoin (CRYPTO: DOGE) to achieve the anticipated Golden Cross, a bull market milestone. Despite recent setbacks with two consecutive red weeks, Dogecoin remains on a path to recovery, needing several weeks of upward price action. The cryptocurrency has seen a significant year-to-date increase of over 77%, outpacing companies like Pinterest and DraftKings in market cap. The upcoming DOGE Day on April 20 is expected to further boost its market position.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 3:50 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is reportedly planning to cut its workforce by up to 20%, which could mean tens of thousands of jobs, amid fundamental issues and a stock slump. The company has already reduced shifts for Cybertruck production at the Giga Texas factory and has a history of layoffs and hiring freezes. Tesla's fundamentals have weakened, with slowing EV adoption, price cuts leading to a price war, and management communication issues contributing to its stock being among the worst-performing in the S&P 500. Tesla's stock has dropped about 31% year-to-date.

Portfolio Pulse from Shanthi Rexaline

April 15, 2024 | 3:29 am

COPP

COPX

FLMMF

ICOP

SLSSF

Wall Street is increasingly bullish on copper due to its growing use in AI and data center operations, with predictions of demand surging and prices rising. Jefferies forecasts a significant jump in copper demand by 2030, while Morgan Stanley expects copper prices to increase by 12% by year-end. Investors are advised to look at stocks like Solaris Resources and Filo Mining, and ETFs such as Global X Copper Miners ETF, Sprott Copper Miners ETF, and iShares Copper and Metals Mining ETF.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 3:18 am

NVDA

TSLA

Nvidia's Senior Lead of Robotics, Yuke Zhu, praised Tesla's Full Self-Driving (FSD) feature for its 'human-like maneuvers' and described the experience as 'magical.' Tesla's FSD v12.3.4 is rolling out to more users in the U.S., with significant interest from both consumers and industry experts. Tesla has also made FSD more accessible by reducing the monthly subscription fee and offering a free one-month trial to U.S. owners. As of March 2024, FSD is deployed on approximately 2 million vehicles in the U.S.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 1:41 am

BTCUSD

Mike Novogratz, CEO of Galaxy Digital, predicts Bitcoin will resume its upward trend after a risk flush due to the economic repercussions of war, specifically referencing the recent Israel-Iran escalation. Despite a recent drop in Bitcoin's price following a drone attack by Iran on Israel, Novogratz remains optimistic about Bitcoin's resilience and its potential surge ahead of the upcoming halving event. Currently, Bitcoin is trading at $65,474.10, with a year-to-date increase of 48.23%.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 1:39 am

TSLA

Tesla is rumored to be preparing for a significant round of layoffs, potentially affecting up to 20% of its workforce, amid a challenging quarter with reduced deliveries and increased inventory. The company has also shortened Cybertruck production shifts at Gigafactory Texas and reduced production at Gigafactory Shanghai. These moves come in the context of broader tech industry layoffs and Tesla's own history of workforce adjustments.

Portfolio Pulse from Benzinga Newsdesk

April 14, 2024 | 11:10 pm

CTRI

IBTA

Centuri Holdings, Inc (CTRI) and IBOTTA, INC (IBTA) are set to go public on April 18, 2024, with their IPOs. CTRI's price range is $18.00 to $21.00, offering 12,400,000 shares at $19.50 each. IBTA's price range is $76.00 to $84.00, offering 5,625,000 shares at $80.00 each. Both have a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

April 14, 2024 | 7:41 pm