Streetbeat News

Stock Prices

NKE

Raymond James analyst Rick Patel has maintained an Outperform rating on Nike (NYSE:NKE) and increased the price target from $121 to $130.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:35 pm

BLK

EBIX

Ebix Inc. (NASDAQ:EBIX) has filed for bankruptcy in the U.S. due to debts over $600 million, casting doubt on the future of its Indian subsidiary, EbixCash, and its planned IPO. The bankruptcy stems from unpaid loans, increased interest expenses, a change in auditing firm, and a negative report from Hindenburg Research. CEO Robin Raina, the largest shareholder, and other major shareholders like BlackRock Inc. (NYSE:BLK) are affected. EbixCash's RBI license could be at risk, and there's controversy over Raina's $1.8 million bonus amid the financial crisis.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 19, 2023 | 12:34 pm

PSX

Raymond James analyst Justin Jenkins has maintained an Outperform rating on Phillips 66 (NYSE:PSX) and increased the price target from $128 to $140.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:34 pm

AMGN

CARA

DOOR

ITRI

KRON

MIRM

PEP

RUN

UBER

VTNR

Wall Street analysts have updated their price targets and ratings for several companies. Piper Sandler raised Itron's target and upgraded the stock, while HC Wainwright cut targets for Cara Therapeutics and Kronos Bio but maintained Buy ratings. JP Morgan downgraded PepsiCo and lowered its target. BMO Capital raised Amgen's target and upgraded the stock. Stifel downgraded Vertex Energy and cut its target. Keybanc raised Uber's target and maintained an Overweight rating. Raymond James lowered Mirum Pharmaceuticals' target but kept a Strong Buy rating. Piper Sandler also raised Sunrun's target and upgraded the stock. Baird downgraded Masonite International and cut its target.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 12:30 pm

ACN

FCEL

FDS

FDX

PLUG

QQQ

SCS

SPY

WOR

U.S. index futures are trending upward, indicating a potential 'Santa Claus' rally, bolstered by the Bank of Japan's decision to maintain its ultra-loose monetary policy. The Nasdaq Composite and S&P 500 Index closed higher on Monday, with the S&P 500 reaching its highest level since January 4, 2022, and the Nasdaq since January 12, 2022. The Dow Industrials also closed at a record high. Analysts suggest December is often stronger in the second half, with the S&P 500 historically finishing higher 74% of the time. Premarket trading saw SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) rise slightly. Companies like Plug Power (PLUG), Accenture (ACN), FactSet Research Systems (FDS), FuelCell Energy (FCEL), FedEx (FDX), Steelcase (SCS), and Worthington Enterprises (WOR) are in focus due to earnings reports. Crude oil futures and bond yields showed mixed movements.

Portfolio Pulse from Shanthi Rexaline

December 19, 2023 | 12:24 pm

HYMTF

Hyundai Motor Co (OTC:HYMTF) is selling its manufacturing plant in Russia to Art-Finance LLC for a nominal 7,000 roubles ($77.67). The company has disclosed a loss of 287 billion won ($219.19 million) on the sale. The St. Petersburg-based facility has been inactive since March 2022. Despite the divestiture, Hyundai plans to continue providing after-sales services in Russia. HYMTF shares dropped by 2.82% to close at $41.30 on Monday.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 12:17 pm

PLUG

Piper Sandler analyst Kashy Harrison downgraded Plug Power (NASDAQ:PLUG) from Neutral to Underweight and reduced the price target from $6.5 to $2.3.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:15 pm

CYD

EAF

KITT

SFWL

VLD

The article highlights the top 5 oversold industrial stocks with an RSI near or below 30, suggesting potential undervaluation. Nauticus Robotics (KITT) disclosed a $34 million acquisition deal. China Yuchai (CYD) won a significant order. Velo3D (VLD) announced a CEO change. Shengfeng Development (SFWL) saw a 68% drop in shares over five days. GrafTech International (EAF) reported disappointing Q3 results.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 12:14 pm

SEDG

Piper Sandler analyst Kashy Harrison downgraded SolarEdge Technologies (NASDAQ:SEDG) from Overweight to Neutral and reduced the price target from $110 to $105.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:13 pm

ARRY

Piper Sandler analyst Kashy Harrison downgraded Array Technologies (ARRY) from Overweight to Neutral and reduced the price target from $26 to $22.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:11 pm