Streetbeat News

Stock Prices

BTCUSD

PYPL

Alex Konanykhin, CEO of Unicoin, predicts Bitcoin's (BTC) decline as it loses market share to emerging digital currencies. He emphasizes the importance of blockchain technology and the need for sensible regulation in the crypto space. Konanykhin also notes institutional investors' concerns about Bitcoin's volatility and the potential for mainstream adoption of cryptocurrencies, drawing parallels to PayPal (PYPL).

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 7:17 pm

BMY

Bristol-Myers Squibb (NYSE:BMY) has seen a decrease in short interest, with the short percent of float dropping 12.88% since the last report. The company has 23.40 million shares sold short, representing 1.15% of available shares. The current short interest is below the peer group average of 3.20%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:15 pm

BTI

British American Tobacco (NYSE:BTI) has seen an 8.33% increase in short interest since its last report, with 2.81 million shares sold short, representing 0.13% of available shares. The short interest is below the peer group average of 1.43%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1 day to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:15 pm

JNJ

Johnson & Johnson (NYSE:JNJ) has seen a decrease in short interest, with the current level at 14.53 million shares or 0.6% of float, down 7.69% since the last report. The short interest is lower than the peer group average of 3.23%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:15 pm

BLK

BNBUSD

BTCUSD

ETHUSD

Changpeng Zhao's resignation as CEO of Binance, following a U.S. Justice Department investigation, is seen as an opportunity for traditional financial institutions like BlackRock to dominate the Bitcoin and Ether ETF markets. Industry experts believe Zhao's departure marks the end of an era but also a positive step towards regulatory standards and sustainable crypto adoption. The anticipated approval of a Bitcoin ETF could signal a new growth phase for cryptocurrencies. Binance's $4 billion settlement is viewed as significant, though opinions on the impact of Zhao's exit on Binance itself are mixed.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 7:12 pm

SPY

The Federal Open Market Committee (FOMC) released the minutes of its meeting held on October 31–November 1, 2023. The document provides insights into the economic conditions, financial markets, and monetary policy decisions discussed by the committee members. While the minutes do not directly mention specific companies or ETFs, they are critical for investors as they can influence market sentiment and expectations regarding interest rates, which in turn can affect the stock market broadly, including ETFs like SPY that track major indices.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 7:01 pm

AGCO

AGCO (NYSE:AGCO) has received 6 analyst ratings in the last quarter, with 4 being bullish and 2 somewhat bullish. There have been no indifferent, somewhat bearish, or bearish ratings. The average price target is $155.0, which is a 0.8% decrease from the previous target of $156.25, but still represents a significant upside from the current price of $116.05. Analysts' ratings are based on information from company calls, financial statements, and insider conversations.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

LAAC

Lithium Americas (NYSE:LAAC) has received 5 analyst ratings in the last quarter, with 2 bullish and 3 indifferent. The average 12-month price target for LAAC is $10.8, up 44% from the previous target of $7.50. The high target is $18.50 and the low is $7.00. Analyst ratings are based on financial predictions and are updated quarterly or after major company events.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

HSY

RBC Capital Markets analyst Nik Modi downgraded The Hershey Co (HSY) to Sector Perform from Outperform with a lowered price target of $213 from $239, citing an expected competitive landscape in 2024 with increased marketing and innovation from rivals like Mars and Ferraro/Ferrera. Hershey's shares have been under pressure due to the underperformance of the packaged food space and share erosion. Modi also cut revenue and EPS estimates for FY23 and FY24, reflecting challenges in regaining volume growth and market share amidst rising sugar/cocoa costs and macroeconomic factors.

Portfolio Pulse from Lekha Gupta

November 21, 2023 | 7:00 pm

VEEV

Over the past 5 years, Veeva Systems (NYSE:VEEV) has produced an average annual return of 14.21%, outperforming the market by 3.08% on an annualized basis. A $1000 investment in VEEV 5 years ago would be worth $2,003.04 today. Veeva Systems currently has a market capitalization of $28.60 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm