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BENF

Beneficient shares were halted due to a circuit breaker trigger after the stock fell by 5.13%.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:48 pm

MMAT

Meta Materials announced a significant workforce reduction, cutting about 80% of its employees, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:48 pm

HOOD

There was a notable options activity on Robinhood Markets (HOOD) with a sweep of 372 contracts for Friday $20 calls near the ask price of $0.79, compared to an open interest of 7195. This activity occurred with Robinhood's stock price at $18.32, ahead of their earnings announcement on May 8th after the market closes.

Portfolio Pulse from Charles Gross

May 06, 2024 | 1:44 pm

QQQ

SPY

Veteran Wall Street investor Ed Yardeni believes we're still in a bull market, supported by a less aggressive Federal Reserve, positive earnings season, and a drop in geopolitical risk premiums, as indicated by the decline in Brent crude oil prices. The normalization of stock market sentiment indicators and recent economic data suggest potential for continued growth. The S&P 500 and Invesco QQQ Trust have shown gains, reflecting investor optimism.

Portfolio Pulse from Piero Cingari

May 06, 2024 | 1:43 pm

EYPT

EyePoint Pharmaceuticals' shares were halted due to a circuit breaker triggered by a significant drop, with the stock currently down by 40.9%.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:41 pm

AAPL

META

Apple Inc (NASDAQ:AAPL) reported its fiscal Q2 results with a slight revenue increase over Wall Street expectations but saw a drop in overall revenue and iPhone sales. The company announced a $110 billion share buyback, its largest ever, representing a 22% increase YoY. Revenue fell 4% YoY to $90.75 billion, with iPhone sales down 10% YoY. However, services revenue was a highlight, growing 14.2% YoY to $23.9 billion. Apple did not provide official guidance but expects low single-digit sales growth in the June quarter. The company remains secretive about its AI plans, with more details expected at its June developer event.

Portfolio Pulse from Upwallstreet

May 06, 2024 | 1:41 pm

CLSK

MARA

RIOT

Bitcoin mining stocks, including Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK), are experiencing gains amid a rise in Bitcoin's price. This surge is attributed to the approval of several spot Bitcoin ETFs and the recent Bitcoin halving event, which reduced mining rewards. The stocks' movement reflects broader trends in the crypto market, with Bitcoin ETFs seeing net inflows and Bitcoin's price increasing.

Portfolio Pulse from Adam Eckert

May 06, 2024 | 1:36 pm

PARA

SONY

Sony Pictures Entertainment and Apollo are in talks to acquire Paramount for around $26 billion, after Paramount's exclusive negotiations with Skydance lapsed. The deal faces regulatory hurdles, especially concerning foreign ownership of CBS by Sony's Japan-based parent company. The strategy may involve Apollo holding the CBS broadcast license. The deal, supported by many shareholders as an alternative to a merger with Skydance, would make Sony a controlling shareholder with Apollo owning a minority stake. Paramount is also exploring other options, including a streaming joint venture with potential partners like Comcast.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:33 pm

WWW

Seaport Global analyst Mitch Kummetz upgrades Wolverine World Wide (NYSE:WWW) from Neutral to Buy and sets a $15 price target.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:31 pm

MODV

ModivCare shares experienced an increase in trading value following an upgrade from Hold to Buy by Lake Street.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:31 pm