Streetbeat News

Equity Actions

NVDA

Stifel analyst Ruben Roy has upgraded NVIDIA (NASDAQ:NVDA) from Hold to Buy and raised the price target from $440 to $600.

Portfolio Pulse from richadhand@benzinga.com

August 24, 2023 | 9:37 am

NVDA

Exane BNP Paribas analyst David O'Connor has upgraded NVIDIA (NASDAQ:NVDA) from Neutral to Outperform and announced a price target of $745.

Portfolio Pulse from richadhand@benzinga.com

August 24, 2023 | 9:36 am

NVDA

TSM

Morgan Stanley analysts have identified several global stocks expected to benefit from the rising AI trend. The 2024 earnings forecasts for AI stocks have increased from their July 1 estimates. Nvidia Corporation (NVDA) and Taiwan Semiconductor Manufacturing Company (TSM) are among the top picks. NVDA is serving less than half of the current demand, indicating potential for growth. TSMC is expected to make 6% of its 2023 revenue from AI-related semiconductors.

Portfolio Pulse from Benzinga Neuro

August 24, 2023 | 9:23 am

RPRX

Royalty Pharma and Ferring Pharmaceuticals have signed a $500 million royalty deal for the innovative intravesical gene therapy Adstiladrin. The deal will provide Royalty Pharma with a significant share of future global net sales of Adstiladrin.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:54 am

DOGEUSD

FLOKIUSD

SHIBUSD

Meme coins Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Floki (CRYPTO: FLOKI) saw an uptick of over 2% on Thursday, countering the downward trend experienced in the past seven days. This increase followed a tweet from Elon Musk stating that X (formerly Twitter) is a 'dog & Doge friendly place'. Musk's association with Dogecoin has significantly raised the profile of the meme coin.

Portfolio Pulse from Mehab Qureshi

August 24, 2023 | 6:04 am

CYBN

Cybin has renewed its At-The-Market (ATM) equity program, allowing it to issue up to $35 million in shares. The program provides Cybin with the flexibility to finance future growth opportunities.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 5:57 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has lost nearly $200 billion in market capitalization, a fifth of its peak value. The drop is attributed to inflation, increased interest rates, potential recession fears, and internal company issues. Tesla's market cap is now approximately $730 billion. Additionally, Ark Invest has decreased its Tesla holdings by over 17.6%, indicating a possible loss of faith from one of Tesla's major supporters.

Portfolio Pulse from Benzinga Neuro

August 24, 2023 | 5:34 am

SPY

Vice President Pence has announced plans to extend tax cuts and close the Federal Department of Education. This could potentially impact the overall economy and the education sector.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 1:45 am

SPY

The article discusses the performance of the SPDR S&P 500 ETF Trust (SPY) during and after Donald Trump's presidency. It states that the S&P 500 had average annual gains of 14.5% during Trump’s four years in office, and SPY was up around 67% during this period. The markets continued to rally after Biden won the 2020 presidential election, with the S&P 500 gaining 37.4% in the first year of his presidency. An investment of $1,000 in SPY on Biden's inauguration day would be worth $1,160.32 today, while the same investment made the morning after the election would be worth $1,297.61 today.

Portfolio Pulse from Chris Katje

August 23, 2023 | 10:30 pm

SPCE

Investor Chamath Palihapitiya, known for his SPAC deals, has faced criticism as the valuations of several companies he took public have crashed. One such company is Virgin Galactic Holdings (NYSE:SPCE), which went public in 2019 in a SPAC merger anchored by Palihapitiya’s Social Capital Hedosophia Holdings Corp. After its stock climbed in 2019 through 2021, shares have fallen significantly and Palihapitiya has distanced himself from the company. He stepped down as chairman of Virgin Galactic in 2022 and sold a large position in the company.

Portfolio Pulse from Chris Katje

August 23, 2023 | 9:43 pm