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ARM

BKR

TSLA

Market volatility surged due to higher-than-expected inflation, spikes in oil and gold prices, and geopolitical tensions. The likelihood of a Federal Reserve rate cut in June has decreased significantly, while U.S. mortgage rates have risen. Consumer sentiment fell in April, and confidence in Tesla's CEO Elon Musk has declined. Ark Invest took a stake in OpenAI, and concerns about AI's future energy consumption were highlighted by Arm Holdings' CEO.

Portfolio Pulse from Piero Cingari

April 12, 2024 | 8:27 pm

MTEM

Molecular Templates Inc (MTEM) announced it will incur approximately $0.1M in pre-tax charges due to a workforce reduction effective April 30. This move aims to extend resources to support ongoing clinical studies for MT-6402, MT-8421, and MT-0169, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:26 pm

AEL

American Equity Investment Life Holding Co (AEL) announced that Axel André, the Executive Vice President and CFO, has notified the company of his intention to resign, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:25 pm

DSAQ

Direct Selling Acquisition Corp. (DSAQ) announced its intention to voluntarily delist its common stock and units from the NYSE and apply for listing on the Nasdaq Global Market. The move, expected to be completed by April 24, 2024, aims to reduce the management effort required to comply with NYSE standards, allowing the company to focus on a business combination with Hunch Technologies Limited. DSAQ expects the transition to Nasdaq to enable uninterrupted trading for its investors.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:17 pm

GLD

SPY

USO

Stocks declined due to uncertainty over potential rate cuts, while oil prices rose amid tensions in the Middle East, and gold prices continued to increase. The SPDR S&P 500 ETF Trust (SPY), United States Oil Fund (USO), and SPDR Gold Shares (GLD) are directly mentioned in relation to these market movements.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:12 pm

CISS

C3is shares are trading higher following the announcement of its agreement to acquire the Eco Spitfire bulk carrier for $16.19 million.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:11 pm

QMCO

Quantum Corporation (NASDAQ:QMCO) provided a business update including a Q4 2024 liquidity update, revealing $26.1M in cash and equivalents, $87.9M in term loan debt, and $26.6M in revolving credit borrowings. The company also reported a $4.1M interest expense for Q4. Quantum announced a transaction post-Q4, selling service inventory assets for $15M to pay down $12.3M in debt, aiming to improve financial flexibility. Additionally, Quantum completed a new ERP system implementation, expected to reduce capital expenditures and increase operational efficiencies. Quantum is working to avoid Nasdaq delisting, with a hearing scheduled for May 14, 2024. Marc E. Rothman will retire from the board by August 31, 2024, or the 2024 annual meeting date, with a search for a new director underway.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:10 pm

EGRX

Eagle Pharmaceuticals received a notification from Nasdaq about a deficiency due to not filing its annual report (Form 10-K) on time. This notice is a procedural step under Nasdaq rules, indicating that Eagle Pharmaceuticals has not met the required filing deadline. The company is expected to submit a plan to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:09 pm

PLTR

Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower amid market weakness and concerns over prolonged high interest rates by the Federal Reserve. Despite this, Palantir received positive remarks from Jim Cramer on CNBC and additional investment from Ark Invest. The stock is trading below its 50-day moving average and its 52-week high. A long-term forecast suggests a potential annualized stock performance continuation at 19.18%, aiming for a stock price of $54.20 in the future.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 8:09 pm

ALLG

Allego N.V. (NYSE:ALLG), a leading electric vehicle charging network in Europe, received a notice from the NYSE for not meeting the minimum share price requirement of $1.00 over a 30-day period. The company has six months to regain compliance, with options including a reverse share split. The notice does not immediately affect Allego's NYSE listing or operations.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:08 pm