Streetbeat News

Stock Prices

GME

SPY

GameStop (GME) experienced significant price volatility due to social media activity by 'Roaring Kitty' and subsequent earnings and equity offering news. The stock spiked from $17.46 to over $60 but fell after dismal earnings and an equity offering announcement. The article suggests a bearish outlook on GME above $60 and discusses a strategy involving in-the-money credit call spreads.

Portfolio Pulse from David Pinsen

June 10, 2024 | 2:58 pm

VIRT

Virtu Financial shares are trading higher following the announcement of a proposed opportunistic private offering of $500 million of senior first lien notes due 2031 for debt repayment.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 2:57 pm

DWAC

Trump Media & Technology Group has filed a prospectus for the issuance of up to 14.4 million common shares upon warrant exercise and the resale of 146.1 million shares by selling securityholders, including 78.8 million shares held by President Trump. The company will not receive any proceeds from the sales by securityholders.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 2:55 pm

CLDI

SIGA

Calidi Biotherapeutics (NYSE:CLDI) stock is trading higher after announcing a collaboration with SIGA Technologies (NASDAQ:SIGA) to advance Calidi’s RTNova virotherapy for lung cancer and metastatic solid tumors. SIGA will provide TPOXX, an antiviral agent, to manage RTNova’s spread.

Portfolio Pulse from Dylan Berman

June 10, 2024 | 2:53 pm

CRML

Critical Metals shares are trading higher after the company announced a binding heads of agreement to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 2:52 pm

BA

LUV

Elliott Investment Management criticizes Southwest Airlines' outdated strategies and poor execution, promising a 77% stock return potential if changes are made. Elliott's $1.9 billion stake and the letter to the Board of Directors have boosted investor confidence, sending the stock price higher. The letter calls for new leadership and a comprehensive business review.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 2:48 pm

ADBE

Investors with significant capital have taken a predominantly bearish stance on Adobe (NASDAQ:ADBE), as revealed by Benzinga's options scanner. Out of 41 uncommon options trades, 63% were bearish. The price range targeted by these trades is between $400 and $610. Adobe's stock is currently neutral according to RSI indicators, and its next earnings report is due in 3 days. Analysts have mixed ratings, with an average target price of $594.

Portfolio Pulse from Benzinga Insights

June 10, 2024 | 2:45 pm

MRVL

Deep-pocketed investors are showing a bullish sentiment towards Marvell Tech (NASDAQ:MRVL) with significant options activity. The focus is on a price range between $60.0 and $75.0. Analysts have mixed ratings, with an average target price of $87.6.

Portfolio Pulse from Benzinga Insights

June 10, 2024 | 2:45 pm

MARA

RIOT

Marathon Digital Holdings (NASDAQ:MARA) reported a decrease in Bitcoin production for May, producing 616 bitcoins compared to 850 in April and 1,245 in May 2023. The company increased its holdings to 17,857 bitcoins and expanded its mining fleet. Additionally, Kerrisdale Capital issued a short report on Riot Platforms (NASDAQ:RIOT), criticizing the crypto-mining industry, which may have contributed to a decline in Marathon's stock price.

Portfolio Pulse from Erica Kollmann

June 10, 2024 | 2:44 pm

SPY

TLT

The Federal Reserve is expected to maintain the federal funds rate at 5.25%-5.5% in June, with fewer rate cuts anticipated in the future. The market will focus on the Fed's updated economic projections. Recent economic data, including a strong May jobs report, has led to revised expectations for rate cuts. Analysts from Bank of America and Goldman Sachs have adjusted their forecasts, predicting fewer cuts in 2024 and 2025.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 2:43 pm