Streetbeat News

Stock Prices

AMD

DIA

IWM

NVDA

OIH

QQQ

SMH

SPY

TLT

XLK

XLRE

XOP

US stocks saw a rebound with the Nasdaq 100 and small-cap stocks leading the gains, while the Dow Jones was weighed down by Boeing's struggles. Semiconductor stocks like NVIDIA and AMD posted significant gains. The 10-year Treasury Note yield fell, and energy commodity prices dropped. Bonds recovered, and the U.S. dollar depreciated. Bitcoin rose above $45,000, while gold prices fell. Sector ETFs like XLK and XLRE saw upticks, whereas XOP and OIH experienced declines. Notable stock movements included Boeing's drop after an FAA grounding order, NVIDIA's rise on AI chip production news, AMD's gain after a new processor reveal, American Airlines' upgrade by Morgan Stanley, Crocs' surge on raised sales forecast, and Abercrombie & Fitch's increase after raising its sales forecast.

Portfolio Pulse from Piero Cingari

January 08, 2024 | 6:15 pm

SEIC

Oppenheimer analyst Owen Lau has reaffirmed an Outperform rating on SEI Investments Company (NASDAQ:SEIC) and increased the price target from $65 to $71, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:15 pm

ECL

LIN

SHW

Seaport Research Partners analyst Michael J. Harrison downgraded Ecolab Inc (ECL), Linde PLC (LIN), and Sherwin-Williams Co (SHW) to Neutral from Buy, citing sluggish market fundamentals in the chemical industry. He expects destocking to continue into H1 FY24 and sees raw material costs stabilizing. ECL was downgraded due to factors already priced in, LIN due to its share price nearing the target, and SHW due to limited near-term upside. The analyst adjusted EPS estimates for all three companies.

Portfolio Pulse from Lekha Gupta

January 08, 2024 | 6:09 pm

DVAX

Dynavax Technologies' stock is trading lower following the company's release of preliminary guidance for Q4 and the full year of 2023, which suggests potential concerns or disappointments among investors regarding the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:08 pm

DOGEUSD

ETHUSD

SHIBUSD

SOLUSD

Solana (CRYPTO: SOL) has experienced a 9.9% drop over the past week, with Solana-based memecoins such as Bonk, dogwifhat, and WOOF seeing even larger declines. Despite a strong rally in December, the recent downturn is attributed to profit-taking and a shift of investor interest towards other cryptocurrencies, possibly influenced by the anticipation of a Bitcoin ETF. Established memecoins like Dogecoin and Shiba Inu also fell but less sharply. Analyst Michaël van de Poppe suggests the altcoin correction is temporary and may rebound post-ETF frenzy.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 6:07 pm

TREE

Oppenheimer analyst Jed Kelly has maintained an Outperform rating on LendingTree (NASDAQ:TREE) and increased the price target from $25 to $45.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:07 pm

CYTK

Cytokinetics' stock price has risen following reports that Novartis is in advanced discussions to acquire the company. This news could indicate a significant corporate event for Cytokinetics, potentially leading to changes in its stock valuation.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:07 pm

DADA

Dada Nexus Limited (NASDAQ:DADA) stock is trading lower after the company disclosed that its internal audit found suspicious practices that may have led to overstated revenues for its online advertising and marketing services in 2023. The company has warned that its Q4 and full-year 2023 guidance should not be relied upon. The stock has seen a significant increase in trading volume and has set a new 52-week intraday low.

Portfolio Pulse from Erica Kollmann

January 08, 2024 | 6:06 pm

CYBR

Oppenheimer analyst Shaul Eyal has maintained an Outperform rating on CyberArk Software (NASDAQ:CYBR) and increased the price target from $195 to $260, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:03 pm

BLK

MSFT

On CNBC's Halftime Report, the final trades segment featured recommendations for Microsoft (MSFT), The Goldman Sachs Group (GS), and BlackRock (BLK). These companies were highlighted as potential investment opportunities.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:01 pm