Streetbeat News

Stock Prices

DOCU

DocuSign shares have risen after a Reuters report indicated that private equity firms Bain Capital and Hellman & Friedman are in competition to acquire the electronic signature company.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:43 pm

SPY

Fed member Goolsbee stated that the Federal Reserve cannot decide on its actions for the March meeting without evaluating incoming data. The Fed will assess the level of policy restrictiveness needed as inflation rates decrease.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:42 pm

PLUG

SPWR

Susquehanna analyst Biju Perincheril downgraded Plug Power Inc (PLUG) and SunPower Corporation (SPWR), citing financing concerns and slow recovery respectively. PLUG was downgraded to Neutral with a price target of $4.50 due to delays in green hydrogen production facility buildout and securing funding, leading to reduced revenue and EPS forecasts. SPWR was downgraded to Neutral with a price target of $4.00 due to slow recovery in California and financial position concerns, resulting in lowered customer additions and EBITDA forecasts. PLUG shares fell by 7.30% and SPWR shares by 8.10%.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 8:34 pm

TSLA

Tesla's Berlin factory will halt most of its production for two weeks due to a supply gap caused by issues in the Red Sea. This suspension may affect Tesla's production targets and delivery timelines, potentially impacting investor confidence and the company's stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:33 pm

COIN

Wedbush analyst Moshe Katri maintained Coinbase Global Inc (NASDAQ:COIN) with an Outperform rating and raised the price target from $110 to $180. Katri predicts COIN will benefit from the SEC's Bitcoin ETF approvals due to its dominant role in these ETFs, facilitation services, and the recent issues faced by competitors like Binance. The analyst expects increased institutional investing in crypto assets and sees the December quarter's volatility in crypto prices as a positive for COIN's trading volume. Katri's Q4 revenue and EPS projections for COIN are $635 million and $0.00, respectively, compared to the consensus of $784.5 million and a loss of $(0.04). COIN shares were down 6.63% at $141.23 at the last check.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:32 pm

BIIB

Over the past 20 years, Biogen (NASDAQ:BIIB) has produced an average annual return of 9.48%, outperforming the market. A $1000 investment in BIIB 20 years ago would be worth $6,114.80 today. Biogen's market capitalization currently stands at $36.66 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 8:31 pm

T

VZ

Shares of AT&T and Verizon are trading lower after a Wall Street Journal report indicated that the Environmental Protection Agency (EPA) has reached out to telecom companies to discuss concerns about lead-sheathed cables. The EPA's request for meetings with these companies could imply potential regulatory scrutiny or required changes in infrastructure, which may have financial implications for the involved firms.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:30 pm

MSTR

Michael Saylor, co-founder of MicroStrategy Incorporated (NASDAQ:MSTR), is known for his bullish stance on Bitcoin (CRYPTO: BTC), even suggesting to mortgage houses to buy it. MicroStrategy has accumulated 189,150 BTC with an average purchase price of $31,168. Saylor emphasizes a long-term investment strategy for Bitcoin. A $1,000 investment in Bitcoin when Saylor advised in March 2021 would be worth $810.73 today, a decline of 18.9%. Optimism remains with the approval of spot Bitcoin ETFs potentially increasing Bitcoin's value.

Portfolio Pulse from Chris Katje

January 11, 2024 | 8:29 pm

ASML

MSFT

NVDA

ASML Holding N.V. (ASML) has halted shipments of high-end lithography machines to China, following U.S. directives. China's Commerce Minister expressed grave concerns over U.S. pressure on ASML and potential tariffs on Chinese chips. The U.S. is assessing reliance on Chinese chips and considering tariffs to protect against military use. Huawei's launch of a handset with an advanced chip despite sanctions raised U.S. security concerns. Microsoft Corp (MSFT) linked a cyberattack on U.S. Commerce Secretary Raimondo's email to China. Nvidia Corp (NVDA) faces challenges in China due to U.S. export controls, with Chinese companies potentially reducing orders for high-end AI chips from Nvidia by 50%-60% in five years. ASML's stock saw a slight decrease.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:25 pm

DCGO

DocGo's stock is trading higher after the company dismissed a short report by Fuzzy Panda Research and provided preliminary revenue guidance for fiscal years 2023 and 2024.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:24 pm