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QCOM

Qualcomm Inc. (NASDAQ:QCOM) stock is currently at $139.81, with a slight drop of 0.06% in the current session. Over the past month, the stock has increased by 0.17%, and over the past year, it has risen by 14.35%. The company's P/E ratio of 21.46 is lower than the industry average of 111.72, which could suggest that the stock is undervalued or that shareholders expect less future growth. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:45 pm

XRPUSD

Ripple Labs is repurchasing $285 million of its shares, valuing the company at $11.3 billion. This follows a legal victory against the SEC, where a U.S. District Judge ruled that XRP sales on exchanges are not unregistered securities offerings. Ripple plans regular buybacks but does not anticipate a U.S. public listing soon due to regulatory uncertainties. The company has over $1 billion in cash and $25 billion in XRP assets. Ripple acquired Metaco last year and continues to grow despite the SEC lawsuit, with 95% of its customers being non-U.S. financial institutions.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 6:40 pm

AEVA

Roth MKM analyst Suji Desilva has reaffirmed a Buy rating on Aeva Technologies (NYSE:AEVA) and increased the price target from $1 to $1.5.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:36 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) has submitted a pre-application for a Department of Energy loan to support its expansion into domestic battery manufacturing. The company plans to produce 150,000 battery packs by 2032 and is committed to transitioning EV and component manufacturing to the U.S. The loan will also support capital investment in Mullen's new facility in California. MULN shares dropped 3.07% to $13.88.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 6:32 pm

IWM

Goldman Sachs' equity research team forecasts a 15% return for the Russell 2000 small-cap index in 2024, outperforming the S&P 500's expected 9% total return. The iShares Russell 2000 ETF (IWM) is anticipated to see a 9% return in six months. Factors include low valuations, economic growth, investor behavior, and historical election year performance. Risks include weaker economic growth and rising interest rates, with small-caps being sensitive due to sector weights in Biotech, Banks, and Real Estate.

Portfolio Pulse from Piero Cingari

January 10, 2024 | 6:32 pm

USO

An armed drone was shot down over an air base in Northern Iraq that houses U.S. forces. The incident highlights ongoing security concerns in the region, which could potentially affect oil prices and market stability due to the geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:30 pm

MS

Morgan Stanley (NYSE:MS) has delivered an average annual return of 16.34% over the past 5 years, outperforming the market by 3.55% on an annualized basis. A $1000 investment in MS five years ago would now be worth $2,151.13. The company's current market capitalization stands at $150.08 billion.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:30 pm

APO

Apollo Global Management (NYSE:APO) has delivered an impressive annualized return of 28.6% over the past 5 years, outperforming the market by 15.81%. A $1000 investment in APO five years ago would be worth $3,591.66 today. The company's market capitalization stands at $54.29 billion.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 6:30 pm

EVO

Evotec SE (NASDAQ:EVO) has partnered with the Crohn's & Colitis Foundation to advance drug discovery for inflammatory bowel disease (IBD). The collaboration aims to develop novel therapies targeting fibrosis and compromised intestinal barrier function in Crohn's disease and ulcerative colitis patients. Financial terms were not disclosed. Despite the positive news, EVO shares have dropped by 2.53% to $9.530.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 6:21 pm

BE

Bloom Energy Corp (NYSE:BE) has entered into a sales agreement with SK Ecoplant for its electrolyzer technology, which is expected to generate significant revenues over the next 20 years. Baird analyst Ben Kallo upgraded Bloom Energy's rating to Outperform and raised the price target from $16 to $22, citing catalysts such as cost reductions, manufacturing improvements, and electrolyzer sales for 2024. Shares of Bloom Energy rose by 1.13% to $13.47 following the announcement.

Portfolio Pulse from Priya Nigam

January 10, 2024 | 6:20 pm