Streetbeat News

Revenues

GME

GameStop (NYSE:GME) has completed two at-the-market offerings, raising $3 billion. Wedbush analyst Michael Pachter criticized the sale price and lowered the price target to $11. Citron Research is no longer short on GameStop, citing the company's $4 billion cash balance. Investors are optimistic about potential acquisitions and investments by CEO Ryan Cohen.

Portfolio Pulse from Chris Katje

June 12, 2024 | 5:40 pm

ELV

Elevance Health's executive announced that the company's Medicare earnings are growing this year, and the company is making money, not losing it, in Medicare. This statement was made at a Goldman Sachs conference.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:32 pm

ELV

Elevance Health's executive highlighted that Medicaid redeterminations had a significant impact on their Q1 footprint during the Goldman Sachs conference.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:27 pm

AAPL

IWM

KRE

TLT

TSLA

XHB

A lower-than-expected inflation report for May has driven Wall Street to record highs, with significant gains in tech, real estate, and small caps ahead of the Federal Reserve meeting. The Nasdaq 100, S&P 500, and iShares Russell 2000 ETF (IWM) saw notable increases. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF (TLT). Sector-specific ETFs like SPDR S&P Homebuilders ETF (XHB) and SPDR S&P Regional Banking ETF (KRE) also surged. Key stock movers included Apple (AAPL), Tesla (TSLA), and several real estate and regional bank stocks.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 5:26 pm

ARE

DEI

EXR

HIW

HPP

KRC

LAMR

MAC

OUT

PLD

SLG

SUI

VNO

Shares of REIT stocks are trading higher due to a drop in Treasury yields following soft May CPI figures.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:02 pm

TEVA

Teva Pharmaceutical Industries (NYSE:TEVA) has outperformed the market over the past 5 years, delivering an average annual return of 15.66%. A $1000 investment in TEVA 5 years ago would be worth $2,109.76 today. The article highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 5:02 pm

META

BMO Capital analyst Brian Pitz reiterated a Market Perform rating on Meta Platforms Inc (NASDAQ:META) with a price target of $450. The analyst highlighted the rising risk of free-cash-flow burn due to evolving creator payouts. Meta may need to increase creator payouts to retain engaging content, potentially increasing costs by $3-5 billion annually. The competition from platforms like YouTube, Snap, and TikTok, along with the need to offer revenue share before generating positive FCF, poses additional risks. Despite a rise in revenue from China advertisers, challenges remain with app downloads and user engagement.

Portfolio Pulse from Shivani Kumaresan

June 12, 2024 | 4:58 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) shares are trading higher after the company reported positive operating data for May, including increases in funded customers, net deposits, assets under custody, and trading volumes across equities, options, and crypto.

Portfolio Pulse from Adam Eckert

June 12, 2024 | 4:48 pm

ADSK

Goldman Sachs analyst Kash Rangan maintained a Sell rating on Autodesk Inc (NASDAQ:ADSK) and lowered the price target from $230 to $225. Despite recognizing Autodesk's strong market position and operating margins, Rangan expressed concerns about the company's reliance on price for growth and the achievability of its $95 billion TAM by fiscal 2027. The analyst also highlighted potential issues with the sustainability of Autodesk's mid-term Free Cash Flow.

Portfolio Pulse from Anusuya Lahiri

June 12, 2024 | 4:40 pm

BLD

CCS

DHI

IBP

LEN

MHO

MTH

NVR

PHM

SKY

TOL

Shares of homebuilders and building products companies are trading higher due to a drop in Treasury yields following soft May CPI data.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 4:39 pm