Streetbeat News

Stock Prices

EVO

Evotec SE (NASDAQ:EVO) has partnered with the Crohn's & Colitis Foundation to advance drug discovery for inflammatory bowel disease (IBD). The collaboration aims to develop novel therapies targeting fibrosis and compromised intestinal barrier function in Crohn's disease and ulcerative colitis patients. Financial terms were not disclosed. Despite the positive news, EVO shares have dropped by 2.53% to $9.530.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 6:21 pm

BE

Bloom Energy Corp (NYSE:BE) has entered into a sales agreement with SK Ecoplant for its electrolyzer technology, which is expected to generate significant revenues over the next 20 years. Baird analyst Ben Kallo upgraded Bloom Energy's rating to Outperform and raised the price target from $16 to $22, citing catalysts such as cost reductions, manufacturing improvements, and electrolyzer sales for 2024. Shares of Bloom Energy rose by 1.13% to $13.47 following the announcement.

Portfolio Pulse from Priya Nigam

January 10, 2024 | 6:20 pm

ALK

BA

Alaska Airlines has announced the cancellation of between 110-150 flights per day on its 737-9 Max aircraft, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:17 pm

ALK

BA

Alaska Airlines has announced that as of January 10, it is still awaiting documentation from Boeing and the FAA to start inspections on its 737-9 Max fleet. Due to this delay, the airline has decided to cancel all flights involving the 737-9 Max aircraft through January 13.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:16 pm

PD

PagerDuty, Inc. is reportedly exploring options in response to takeover interest, causing its shares to spike. Traders are actively discussing the company's potential moves, which could include a sale or other strategic alternatives.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:15 pm

FINV

LX

Yixin Group Ltd. is selling its 49% stake in a joint venture with Qingdao Caitong Group to focus on its core auto financing business in China, particularly benefiting from the EV boom. Despite a challenging Chinese car market, Yixin's auto financing grew 30% year-on-year in Q3 2023. The company's diversification efforts remain within the auto industry, such as a SaaS platform for auto financing-related technology. Yixin's shares saw a brief rally after the announcement, indicating investor confidence. Other Chinese online lenders like FinVolution and LexinFintech also have low P/S ratios, reflecting a depressed valuation in the sector.

Portfolio Pulse from The Bamboo Works

January 10, 2024 | 6:13 pm

SPXL

SPXS

SPY

The SPDR S&P 500 ETF (SPY) showed slight gains on Wednesday, continuing its consolidation after Monday's significant rise. The market is anticipating key US consumer inflation data set to be released on Thursday, which could significantly impact the direction of SPY. Traders looking to take short-term positions based on the upcoming data may use the Direxion Daily S&P 500 Bull 3X Shares (SPXL) for a bullish stance or the Direxion Daily S&P 500 Bear 3X Shares (SPXS) for a bearish approach. Both SPXL and SPXS are triple-leveraged ETFs tracking SPY's movements. The article suggests that SPXL is showing a bullish pattern but warns of a potential new downtrend if negative market reactions occur after the inflation data release.

Portfolio Pulse from Melanie Schaffer

January 10, 2024 | 6:10 pm

BLK

BlackRock, the world's largest asset manager, is preparing to invest $2 billion in a spot bitcoin ETF, pending approval. This move reflects growing institutional interest in cryptocurrencies amid concerns about the U.S. dollar's future dominance. Bitcoin's price has surged past $45,000, a 187% increase since November 2022, and is approaching the $50,000 mark.

Portfolio Pulse from Zaheer Anwari

January 10, 2024 | 6:10 pm

BA

Boeing CEO admitted on CNBC to a 'quality escape' that permitted the unsafe 737 Max-9 to fly, raising concerns about the company's quality controls and safety measures.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:10 pm

BA

Boeing Co (NYSE:BA) faces challenges after grounding over 170 Boeing 737 Max 9s due to a midair door blowout incident. Despite ongoing quality issues and pressure on aviation regulators, the impact on 2024 deliveries is expected to be limited. Boeing's stock has seen a recent decline from $264 to $229, but a Golden Cross on the price chart suggests a potential bullish trend. This could present a good entry point for long-term investors.

Portfolio Pulse from Surbhi Jain

January 10, 2024 | 6:07 pm