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AAPL

AMZN

NFLX

RIVN

TSLA

Benzinga's weekly review highlights significant movements in the stock market and bullish and bearish perspectives on several US-listed companies. The Nasdaq, S&P 500, and Dow Jones all experienced losses, with the Nasdaq dropping 3.25%. Strong U.S. job market data may influence the Federal Reserve's interest rate decisions. Bullish reports include Tesla's Model Y becoming the bestselling EV, Amazon being a top pick for 2024, and optimistic Bitcoin predictions. Bearish news includes a $250 billion loss in market cap for tech giants like Apple and Amazon, Cloudflare's CEO criticizing Rivian's high repair costs, and streaming services like Netflix facing increased subscription cancellations.

Portfolio Pulse from Michael Cohen

January 06, 2024 | 1:22 pm

AAPL

AMZN

ASTS

TMUS

TSLA

VOD

SpaceX, led by Elon Musk, has launched its first set of direct-to-cell Starlink satellites, partnering with T-Mobile US to potentially enter the telecommunications market. The technology aims to provide mobile phone connectivity anywhere on Earth, especially in areas with limited connectivity. SpaceX plans to offer text messaging this year and voice and data services by 2025, pending further FCC approvals. The move could increase SpaceX's customer base and compete with similar initiatives by Apple, Amazon's Project Kuiper, and AST SpaceMobile.

Portfolio Pulse from Chris Katje

January 05, 2024 | 10:01 pm

BCRX

BioCryst Pharmaceuticals projects its FY24 revenue for ORLADEYO to be between $380M-$400M, which is in line with the estimated $399.8M by analysts.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:08 pm

AAPL

NFLX

TSLA

U.S. stocks had a shaky start to 2024 after a strong finish in 2023. Apple Inc. faced a sell-off due to a downgrade by Barclays, raising concerns about its future market performance. Netflix Inc. is exploring revenue generation from its gaming business. Oil prices surged due to tensions in the Red Sea region. BYD Co. Ltd. surpassed Tesla Inc. in EV sales last quarter. The U.S. labor market remained strong with a better-than-expected December jobs report. Online holiday spending hit record levels, and Pharrell Williams was seen driving a Tesla Cybertruck.

Portfolio Pulse from Piero Cingari

January 05, 2024 | 9:03 pm

BCRX

BioCryst Pharmaceuticals announced preliminary FY23 revenue for ORLADEYO at $325 million, slightly below the estimated $327.19 million.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:02 pm

JNJ

MRK

PFE

Florida has received FDA approval to import prescription drugs from Canada, aiming to reduce drug costs for state care individuals, including those in corrections and disability agencies. Governor Ron DeSantis anticipates $150 million in savings for the state in the first year. The program will face challenges, including potential legal action from PhRMA and restrictions from Canadian wholesalers and the Canadian government. The move could impact U.S. drug pricing policy and the pharmaceutical industry.

Portfolio Pulse from Vandana Singh

January 05, 2024 | 7:53 pm

AGL

DIA

KRE

MPW

NVDA

PBW

PTON

QQQ

SPY

U.S. stocks showed mixed performance on Friday, with the S&P 500 and Nasdaq 100 slightly up, while the Dow Jones and Russell 2000 saw declines. Strong jobs data suggested less likelihood of Federal Reserve rate cuts, but a disappointing ISM Service PMI led to lower Treasury yields and some support for stocks. Sector ETFs varied, with Communication Services up and Real Estate down. Regional banks rose, clean energy fell, and semiconductor stocks rebounded. Peloton surged on TikTok partnership news, Agilon Health plunged on reduced revenue guidance and a JPMorgan downgrade, and Medical Properties dropped after announcing plans to reduce exposure to a tenant.

Portfolio Pulse from Piero Cingari

January 05, 2024 | 7:13 pm

SHAK

Analyst ratings for Shake Shack (NYSE:SHAK) show a mix of opinions, with 9 analysts offering varied ratings over the last quarter. The 12-month price targets have an average of $71.11, with a high of $85.00 and a low of $59.00, reflecting a 1.51% decrease from the previous average. Recent actions include ratings and target adjustments by analysts from firms such as Oppenheimer, HSBC, Raymond James, Truist Securities, Stifel, Barclays, Deutsche Bank, and Morgan Stanley. Shake Shack's financials indicate a solid revenue growth rate of 21.24%, an exceptional net margin of 2.76%, but lower ROE and ROA compared to industry averages, and a healthy debt-to-equity ratio of 1.84.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 7:00 pm

CTRA

Seven analysts have recently updated their ratings on Coterra Energy (NYSE:CTRA), with an average 12-month price target of $31.29, up from $30.40. The ratings range from bullish to indifferent, with no bearish sentiments. Analysts from B of A Securities, Raymond James, UBS, Citigroup, Truist Securities, and Susquehanna have adjusted their price targets and ratings, reflecting their views on the company's performance and market conditions. Coterra, an independent exploration and production company, has faced a significant revenue decline of -46.19% over the past 3 months but maintains a strong net margin of 23.75%. However, its ROE and ROA are below industry averages, and it has a low debt-to-equity ratio of 0.2.

Portfolio Pulse from Benzinga Insights

January 05, 2024 | 7:00 pm

PCVX

PHAT

Needham analyst Joseph Stringer has reiterated a Buy rating on Phathom Pharmaceuticals (NASDAQ:PHAT), raising the price target to $26 from $23 and adding it to the Needham Conviction List. Phathom's stock is expected to perform strongly in 2024 due to the launch of Voquezna in Erosive GERD and its anticipated approval and launch in Non-Erosive GERD (NERD). The analyst projects $55.6 million in Voquezna sales for 2024, which is above the consensus estimate of $46 million. Voquezna is seen as a potential best-in-class acid blocker with significant peak sales potential in various indications. Phathom's cash runway is expected to last through 2026, covering multiple value-driving events. PHAT shares recently traded slightly lower at $8.98.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 6:52 pm