Streetbeat News

Stock Prices

AAPL

Bank of America maintains a Buy rating on Apple Inc. (NASDAQ:AAPL), highlighting customer loyalty to the iPhone and potential high uptake of upcoming models and the Vision Pro VR headset. Despite the enthusiasm, the $3,499 price tag for the Vision Pro is seen as too high by many, with a survey indicating a preferred price point of $2,090. Apple's installed base of active devices has surpassed 2.2 billion, reaching a record high, and its services division reported all-time high revenues. Apple shares were up 0.7% at $181.29 in midday trade on Wednesday.

Portfolio Pulse from Neil Dennis

February 28, 2024 | 6:42 pm

ETCUSD

Ethereum Classic (ETC) saw a slight increase of 1.1% to $28.51, influenced by Bitcoin's surge to $60,000 and speculative trading. The SEC's approval of a spot Bitcoin ETF has also positively impacted Bitcoin's value, hinting at potential growth for alternative cryptocurrencies like ETC.

Portfolio Pulse from Henry Khederian

February 28, 2024 | 6:39 pm

PSNY

Polestar Automotive has announced securing $950 million in external funding, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:35 pm

AMD

NVDA

SMH

SOXX

BofA Securities analyst Vivek Arya has reiterated a Buy rating on Nvidia (NVDA) with a price target of $925 and on Advanced Micro Devices (AMD) with a price target of $195, highlighting Nvidia's dominance in the data center sector and AMD's rising share. Nvidia's data center sales are expected to exceed 85% of its total sales, with AMD's data center GPU revenue jumping to approximately $400 million in Q4, primarily due to shipments for the new El Capitan Supercomputer. The analyst also noted the significant growth in the accelerator market and upcoming catalysts such as Nvidia's GTC event. IShares Semiconductor ETF (SOXX) and VanEck Semiconductor ETF (SMH) have significant exposure to these stocks and have gained 15%-23% year-to-date.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 6:32 pm

F

LCID

LI

RIVN

TSLA

WKSP

Li Auto, Rivian, and Lucid reported their latest earnings with mixed results. Li Auto's shares surged over 25% after reporting a profit, a first among China's EV startups. Rivian and Lucid saw their shares fall due to stagnant production. Worksport Ltd announced it will present at the Centurion One 7th Annual Growth Conference, highlighting its solar-powered tonneau cover and partnership with Ford's F-150 Lightning. The EV market faces challenges from macroeconomic and geopolitical uncertainties.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 6:30 pm

TREE

Keefe, Bruyette & Woods analyst Ryan Tomasello upgraded LendingTree, Inc. (NASDAQ:TREE) to Outperform from Market Perform, raising the price target to $45 from $24, citing growth in the insurance segment and SEM advertising. Tomasello forecasts a 2024 earnings recovery, led by 30-40% Y/Y growth in the insurance segment and continued double-digit growth into 2025. The company is also expected to efficiently address its convert maturity in 1H24 and is well-positioned for a multi-year growth cycle. Tomasello raised the FY24 EPS estimate to $2.04 from $1.56. TREE shares rose 8.4% to $35.37.

Portfolio Pulse from Nabaparna Bhattacharya

February 28, 2024 | 6:30 pm

CAH

Cardinal Health (NYSE:CAH) has delivered an average annual return of 17.29% over the past 5 years, outperforming the market by 4.65%. A $100 investment in CAH 5 years ago would be worth $217.45 today. The company's market capitalization stands at $26.63 billion.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:30 pm

CYBR

CyberArk Software (NASDAQ:CYBR) has delivered an average annual return of 19.29% over the past 5 years, outperforming the market by 6.65% annually. With a current market capitalization of $10.82 billion, an initial investment of $1000 in CYBR 5 years ago would be worth $2,444.59 today.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:30 pm

BTCUSD

COIN

Coinbase Inc. (NASDAQ:COIN) experienced a significant outage as Bitcoin (CRYPTO: BTC) reached $64,000, with users reporting zero balances. CEO Brian Armstrong attributed the issue to a surge in traffic and assured that assets are safe. Bitcoin's value dropped 8% after reaching the peak but later stabilized around $61,000.

Portfolio Pulse from Murtuza Merchant

February 28, 2024 | 6:27 pm

LFST

LifeStance Health's shares surged following the announcement of Q4 sales results that exceeded expectations, along with the issuance of future guidance.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:26 pm