Streetbeat News

Stock Prices

ITCI

Intra-Cellular shares surged following the announcement that Lumateperone 42 mg, as an adjunctive therapy to antidepressants, successfully met its primary endpoint.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:56 pm

NCNA

Trading for NCNA was halted and then resumed at 8:55 AM ET, following an update on its status. This event indicates a significant occurrence that prompted the halt and resumption, which could be due to a variety of reasons such as financial disclosures, regulatory news, or other material events.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:55 pm

NOK

Nokia shares are experiencing an uptick due to positive market reaction to Ericsson's better-than-expected Q1 earnings per share (EPS) results. The positive performance of Ericsson has created a sympathetic rise in Nokia's stock as investors anticipate similar positive financial health and performance from Nokia.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:54 pm

AZN

AstraZeneca Plc (NASDAQ:AZN) released updated results from the TOPAZ-1 Phase 3 trial of Imfinzi in combination with chemotherapy for advanced biliary tract cancer, showing significant survival benefits at three years. The data revealed a 26% reduction in the risk of death and more than double the survival rate at three years compared to chemotherapy alone. The trial met its primary endpoint of overall survival in October 2021.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 12:53 pm

PALI

Palisade Bio shares surged following the announcement of successful completion of analysis evaluating ex-vivo bioactivation of PALI-2108, indicating positive developments in their research.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:53 pm

MTB

M&T Bank Corporation (NYSE:MTB) reported Q1 earnings with revenue of $2.260 billion, slightly below consensus, and net income of $531 million, down from $702 million a year ago. EPS was in line with consensus at $3.09. Total assets were $211.5 billion, with loans and leases at $133.8 billion. The CET1 capital ratio stood at 11.07%. Shares rose 4.6% to $140.94. Analysts from B of A Securities, Wells Fargo, and RBC Capital adjusted their price targets post-earnings, with positive outlooks.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 12:53 pm

IAT

PNC

RDIV

PNC Financial Services Group Inc (NYSE:PNC) reported first-quarter FY24 results with an 8% Y/Y revenue decline to $5.15 billion, missing consensus estimates. Net interest income and noninterest income both decreased, contributing to the revenue decline. Despite this, adjusted EPS was above consensus at $3.36. The company also declared a quarterly dividend of $1.55 per share. PNC expects FY24 revenue to be stable to down 2%, with net interest income declining 4%-5% Y/Y. Shares are down 1.88% in premarket trading. Exposure to PNC can also be gained through IShares U.S. Regional Banks ETF (NYSE:IAT) and Invesco S&P Ultra Dividend Revenue ETF (NYSE:RDIV).

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 12:51 pm

BLND

KITT

PKTX

Insiders at Nauticus Robotics, Blend Labs, and ProtoKinetix have recently made significant stock purchases, signaling potential confidence in their companies' futures despite recent financial setbacks. Nauticus Robotics saw a wider Q4 loss, Blend Labs reported downbeat quarterly sales, and ProtoKinetix's stock declined by 25% over the past month. These insider transactions could indicate a bullish outlook from those with intimate knowledge of the companies.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 12:47 pm

BAC

FTXO

KBWB

Bank of America Corp (NYSE:BAC) reported Q1 fiscal 2024 results with a net income of $7.2 billion and EPS of $0.83, surpassing consensus estimates. Revenue declined by 2% Y/Y to $25.8 billion, but still beat expectations. Consumer Banking income fell by 14.5% Y/Y, while Global Wealth and Investment Management saw a 9.6% increase. The bank added over 1 million credit card accounts and saw its stock rise by 18% over the last 12 months. BAC shares are up 0.42% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

April 16, 2024 | 12:46 pm

DCO

Ducommun has rejected an unsolicited, non-binding proposal from Albion River to acquire all outstanding shares of the company for $60/share in cash, stating the offer undervalues the company. Ducommun's Board and Management are committed to their Vision 2027 Strategy for long-term growth.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:43 pm