Streetbeat News

Stock Prices

TSLA

Elon Musk has urged Tesla shareholders to vote at the upcoming annual meeting in August, emphasizing the importance of their participation. This plea comes as Tesla seeks approval for a renegotiated 2018 pay plan for Musk, previously nullified by a Delaware Chancery Court, and a proposal to shift Tesla's state of incorporation to Texas. The company has provided various voting methods and highlighted Musk's role in creating shareholder value. Despite some criticism and legal debate over the pay plan's re-approval, Tesla's stock closed up 1.97% at $184.76.

Portfolio Pulse from Shanthi Rexaline

May 07, 2024 | 5:14 am

EWA

Australia's central bank has decided to keep the interest rate unchanged at 4.35% for May. This decision could impact investments related to the Australian economy, including the iShares MSCI Australia ETF (EWA), which tracks the investment results of an index composed of Australian equities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:34 am

MSFT

NVDA

Jim Cramer, host of CNBC's 'Mad Money', suggests the market sell-off, especially in Big Tech, may be over, highlighting the recovery of NVIDIA and Microsoft. Despite concerns over the Federal Reserve's interest rate decisions, NVIDIA's new graphics chip and Microsoft's strong earnings and cloud business success have contributed to their rebound. Cramer's optimism is based on the recent rally and the high demand for NVIDIA's AI infrastructure, alongside Microsoft's significant AI investments.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 3:15 am

BA

HIMS

LCID

PLTR

TSLA

On Monday, U.S. stock indexes saw gains, with Palantir, Boeing, Lucid Group, Hims & Hers, and Tesla being the focus of investors. Palantir reported a 21% revenue increase, Boeing is under FAA investigation, Lucid beat revenue estimates, Hims & Hers reported strong quarterly results, and Tesla's stock rose amidst layoffs.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 3:10 am

BTCUSD

DOGEUSD

Elon Musk, CEO of Tesla and SpaceX, met with Argentina's President Javier Milei, a known Bitcoin supporter, for the second time in less than a month at the Milken Institute Global Conference. Musk recommended investing in Argentina and highlighted their shared pro-cryptocurrency stance. Both have previously expressed support for cryptocurrencies like Bitcoin and Dogecoin. The meeting could hint at future collaborations in the cryptocurrency field. Bitcoin and Dogecoin experienced slight price movements, with Bitcoin dropping 0.6% and Dogecoin plunging 4.4%.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 2:56 am

CMCSA

DIS

Disney (NYSE:DIS) and Comcast (NASDAQ:CMCSA) are seeking a financial advisor to resolve a valuation dispute over Disney's 33% stake in Hulu. The disagreement stems from differing valuations by JPMorgan Chase and Morgan Stanley, with estimates at approximately $27.5 billion and over $40 billion, respectively. This step follows a 2019 deal after Disney's acquisition of 21st Century Fox's assets, giving Disney majority control over Hulu. The resolution of this dispute is crucial for finalizing Disney's acquisition of Comcast's stake in Hulu, announced in November 2023.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 2:48 am

PLTR

Palantir Technologies Inc. CEO Alex Karp, in the first-quarter 2024 earnings call, claimed that Palantir has no competitors in the U.S. commercial and government sectors, attributing this to their unique technologies like the ontology knowledge management system, Foundry, and Apollo. Despite his confidence and the company's financial growth, Palantir's stock dropped 8.37% in after-hours trading.

Portfolio Pulse from Kaustubh Bagalkote

May 07, 2024 | 2:00 am

BTCUSD

Bitcoin ETFs have not sparked the expected retail investor enthusiasm, despite institutional interest. Social activity around Bitcoin has decreased since the ETF approval in January, with a significant drop in engagements and content creator traction. Despite Bitcoin's price reaching an all-time high of over $73,000 in March, search interest and social activity have declined. The cryptocurrency market, including Bitcoin, faced a tough month with a more than 15% drop in April, suggesting a cautious approach from retail investors.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 1:52 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and SpaceX, discussed various topics at MI Global, including immigration, Starlink's impact on GDP, Mars colonization, the absence of AI in space exploration, and personal insights on joy and concerns. The conversation, held with Mike Milken of the Milken Institute, was live-streamed on X (formerly Twitter). Musk emphasized the importance of secure but expedited legal immigration, Starlink's potential to enhance global productivity, the goal of making life multi-planetary to safeguard civilization, and shared personal reflections on what brings him joy and keeps him up at night.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 1:51 am

BOWL

Dozens of former Bowlero employees plan to sue the company for age discrimination and retaliation after the EEOC closed its investigation without filing a lawsuit. The EEOC had been investigating Bowlero since 2016, finding reasonable cause in 58 complaints but ultimately decided not to sue. Bowlero, which denies the allegations, has been informed it's not cleared of wrongdoing. The company, having gone public in 2021 and tripling its revenue from 2021 to 2023, considers the EEOC's decision a positive development. The claimants' lawyer intends to file a lawsuit seeking $80 million plus legal fees. Bowlero's stock is down about 21% year to date.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:22 am