Streetbeat News

Analyst Ratings

SPY

Tom Lee from Fund Strat warned of a potential 7% drawdown in the S&P 500 after a possible minor new high this month. Despite a strong performance in 2023, the S&P 500 has been flat in January. The SPDR S&P 500 ETF Trust (SPY) slightly declined. Concerns stem from Federal Reserve comments on interest rates and poor manufacturing data. The upcoming earnings season will be crucial for market direction.

Portfolio Pulse from Shanthi Rexaline

January 17, 2024 | 9:08 am

SPY

Ray Dalio, billionaire and hedge-fund veteran, shared his perspective on LinkedIn about the pivotal nature of the year 2024. He highlighted five major interconnected influences: debt-money-markets-economy, internal conflict, external conflict, climate change, and human inventiveness. Dalio sees internal conflict as the biggest risk, potentially leading to pre-civil war conditions. He also discussed the implications of the U.S. elections, technological advancements, and climate change. The SPDR S&P 500 ETF Trust (SPY) was mentioned in relation to market performance.

Portfolio Pulse from Shanthi Rexaline

January 17, 2024 | 8:07 am

SCHW

Charles Schwab Corporation (NYSE:SCHW) is anticipated to report lower Q4 earnings with an estimate of $0.64 per share compared to $1.09 per share in the previous year. Revenue is also expected to decline to $4.48 billion from $5.5 billion. Despite better-than-expected earnings in Q3, SCHW shares dropped 1.4% recently. Analysts have revised their ratings and price targets, with varying degrees of accuracy and sentiment.

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 6:37 am

CFLT

DVN

LAC

Jim Cramer, host of CNBC's 'Mad Money,' warned of a potential market downturn due to an unsustainable surge in tech stocks, particularly those touting AI initiatives. He noted that stocks have gone parabolic on no new information, with the 'Magnificent Seven' tech stocks needing to rest. Cramer linked the market rally to the Fed's pause on rate hikes, suggesting a cooling economy. He advised investors to take profits and remains skeptical about certain stocks like Devon Energy (DVN), Lithium Americas (LAC), and Confluent (CFLT). The major indices fell on Tuesday, with the S&P 500 down by 0.37% and the Nasdaq 100 down by 0.19%.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 3:34 am

AMD

BABA

DWAC

SAVE

TSLA

U.S. stock market declined on Tuesday with major indices in the red. Digital World Acquisition Corp (DWAC) surged 29.04% due to Trump's lead in the Iowa caucus. AMD rose 8.31% on KeyBanc's positive outlook. Spirit Airlines (SAVE) plummeted 47.09% after a blocked acquisition by JetBlue. Alibaba (BABA) fell 3.31% amid concerns about Chinese internet firms. Tesla (TSLA) had a modest gain of 0.47%, despite market concerns and Musk's comments on AI.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 1:44 am

FSLR

First Solar Inc. (NASDAQ:FSLR) has experienced a persistent sell-off since January, continuing with a 7% drop on Tuesday. Despite no company-specific news triggering the recent decline, the stock has been downgraded by Wells Fargo analyst Michael Blum from Overweight to Equal-Weight with a reduced price target from $215 to $187 earlier in January. The company also recently inaugurated a new facility in Tamil Nadu, India. The stock's current downtrend has not yet reached the mid-December low, suggesting the uptrend that began in November may still be intact.

Portfolio Pulse from Ryan Gustafson

January 16, 2024 | 10:55 pm

BTCUSD

The latest CoinShares report shows a significant increase in crypto fund inflows, with Bitcoin (BTC) leading at $1.14 billion. U.S. inflows were $1.24 billion, while Germany, Sweden, and Canada saw outflows. Despite the approval of a spot Bitcoin ETF, Bitcoin's price dropped 7.8% in the past week. Crypto enthusiast Michaël van de Poppe suggests the correction is healthy and predicts a significant rise in Bitcoin's value. Arthur Hayes, BitMEX co-founder, remains bullish, expecting Bitcoin to reach or exceed its all-time high by year-end.

Portfolio Pulse from Khyathi Dalal

January 16, 2024 | 10:40 pm

IDR

USGO

UBS Group initiated coverage on Alcoa Corporation with a Sell rating and a $29 price target. Dakota Gold Corp. reported promising drill results from its Richmond Hill Gold Project, indicating potential resource expansion. U.S. GoldMining Inc. announced positive assay results from its Whistler Gold-Copper Project, with plans for a significant drilling program in 2024. Idaho Strategic Resources will participate in upcoming industry events to increase company awareness.

Portfolio Pulse from Austin DeNoce

January 16, 2024 | 9:39 pm

AER

BAC

BMO Capital Markets analyst James Fotheringham maintained a Market Perform rating on Bank Of America Corporation (BAC) but lowered the price target from $37 to $36. The adjustment follows BAC's Q4 2023 miss driven by higher operating and credit costs, and reduced share repurchase expectations. Fotheringham suggests better return potential in other U.S. FIG stocks, highlighting AerCap Holdings (AER) and Air Lease Corporation (AL) as having less exposure to risks. BAC's Q4 revenue declined 10% Y/Y, and core EPS of $0.66 missed consensus by 7%. The 2024 core EPS estimate for BAC was reduced to $3.13 from $3.29, while the 2025 estimate remains nearly the same. BAC shares dropped 2.07% to $32.12.

Portfolio Pulse from Nabaparna Bhattacharya

January 16, 2024 | 9:32 pm

BROS

Stifel analyst Chris O'Cull upgraded Dutch Bros Inc (NYSE:BROS) from Hold to Buy and increased the price target from $32 to $35, citing positive management changes, a solid transition plan, and effective digital marketing strategies. The company's adjustments to its Dutch Rewards program and product innovations, including the recent launch of Protein Coffee, are expected to drive long-term growth and improve new store volumes while reducing sales cannibalization.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 9:22 pm