Streetbeat News

Stock Prices

TBLA

Taboola.com's shares experienced increased trading volume following a note from Needham indicating that Apple has contracted Taboola.com to monetize Apple News in Canada and Australia. This new partnership is attributed to Taboola's previous success with Yahoo in November 2022, which attracted numerous high-quality brand buyers to Taboola for the first time.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:17 pm

ABSI

Absci Corp (NASDAQ:ABSI) shares dropped 9.4% to $4.46 after announcing a 16.7 million share offering at $4.50 each, aiming to raise approximately $75.2 million for development and corporate purposes. Morgan Stanley and TD Cowen are managing the offering, expected to close by March 1. The company does not pay dividends but focuses on value through internal development and potential buybacks.

Portfolio Pulse from Henry Khederian

February 28, 2024 | 6:16 pm

RYAM

Rayonier Advanced Materials' shares dropped following the announcement of their Q4 adjusted EPS results, which fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:12 pm

LOW

Lowe's Companies Inc (NYSE:LOW) reported better-than-expected Q4 FY23 results with sales of $18.60 billion and EPS of $1.77, surpassing analyst estimates. Despite a 6.2% decrease in comparable sales due to slow DIY demand and unfavorable weather, Pro customer sales remained stable. For FY24, Lowe's forecasts revenue of $84-$85 billion and adjusted EPS of $12.00-$12.30, slightly below consensus estimates. Following the report, Lowe's shares rose 1.4%. Analysts from Wedbush, JP Morgan, Truist Securities, RBC Capital, and Morgan Stanley adjusted their price targets on Lowe's, reflecting a positive outlook.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 6:10 pm

M

Macy's Inc reported mixed Q4 results, beating EPS estimates but missing on revenue. The company announced a new strategy, 'A Bold New Chapter,' including closing 150 stores by 2026, and provided FY24 guidance with EPS and net sales estimates below consensus. Shares fell 6.1%. Telsey Advisory Group, Goldman Sachs, and Morgan Stanley revised their price targets on Macy's.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 6:04 pm

SOLUSD

The Solana blockchain's memecoins, including Dogwifhat (WIF), Bonk (BONK), Myro (MYRO), and Anita Max Wynn (WYNN), have shown significant gains, with Dogwifhat leading the rally. Solana (SOL) itself has seen its value increase, reaching $112, surpassing its April 2022 peak. The total value locked on Solana has also risen to $2.2 billion. Despite the gains, a trader highlighted the risks involved in investing in memecoins, pointing out issues like influencer manipulation and lack of developer commitment.

Portfolio Pulse from Khyathi Dalal

February 28, 2024 | 6:03 pm

DBX

Half Moon Capital, LLC has issued an open letter to Dropbox's Board of Directors, urging a course correction due to concerns over the company's decision to 'deemphasize' its Family Plan. Half Moon Capital criticizes this move as it believes it has contributed to a decline in paying users and left Dropbox vulnerable to competition. The investment firm, being a long-term investor and a user of the service, highlights that the Family Plan accounted for over 50% of new paying user additions in 2023. They argue that the management's view of the Work Family Plan as a loophole is a misinterpretation and that its absence has made Dropbox's entry-level plan significantly more expensive than competitors. Half Moon Capital urges the immediate reinstatement of the Work Family Plan to prevent further value destruction and to help Dropbox return to a more favorable growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:03 pm

ARKK

COIN

NVDA

SARK

TARK

TSLA

Cathie Wood's ARK Innovation ETF (ARKK) is underperforming compared to its peers and the broader market, with investors pulling out funds due to missed opportunities, particularly in AI stocks like Nvidia. ARKK's top holdings have mostly seen losses, with Tesla being a significant underperformer. Conversely, Coinbase, its largest holding, has seen gains. In response to ARKK's performance, investors have options with inverse ETFs like SARK and leveraged funds like TARK.

Portfolio Pulse from Johnny Rice

February 28, 2024 | 6:02 pm

REAL

RealReal (NASDAQ:REAL) is anticipated to report a Q4 earnings per share (EPS) of $-0.11 on Thursday, 2024-02-29. Analysts and investors are keen on whether the company will surpass this estimate and provide positive guidance for the next quarter. Historically, RealReal has shown the ability to beat EPS estimates, leading to significant share price movements. The stock has seen an 18.45% increase over the last 52 weeks, trading at $1.765 as of February 27.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:02 pm

YMAB

Y-mAbs Therapeutics (NASDAQ:YMAB) is expected to report a Q4 earnings per share (EPS) of $-0.20 on Thursday, 2024-02-29. Analysts and investors will be looking for the company to beat this estimate and provide positive guidance for the next quarter. The company's past earnings performance shows a pattern of beating EPS estimates, leading to significant share price movements. Shares of Y-mAbs Therapeutics were trading at $16.5 as of February 27, with a 311.45% increase over the last 52-week period.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:02 pm