Streetbeat News

Stock Prices

BABA

Alibaba's stock price is trading lower following the release of their second-quarter financial results.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:34 pm

GOOG

GOOGL

SPOT

Spotify Technology S.A. (NYSE:SPOT) has expanded its strategic partnership with Alphabet Inc's Google Cloud (NASDAQ:GOOG) (NASDAQ:GOOGL) to enhance its music streaming service. The collaboration will focus on leveraging Google Cloud's AI tools for improving content discovery, personalized recommendations, and ensuring a safe listening experience on Spotify. The partnership builds on the existing relationship since 2016, with Spotify utilizing Google Cloud's data capabilities for campaigns and providing analytics to creators. Despite the news, SPOT shares saw a premarket decline of 1.47% to $171.20.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 1:33 pm

MAXN

Northland Capital Markets analyst Donovan Schafer downgraded Maxeon Solar Technologies (NASDAQ:MAXN) from Outperform to Market Perform and reduced the price target from $25 to $7.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:32 pm

VALE

Deutsche Bank analyst Liam Fitzpatrick has downgraded Vale (NYSE:VALE) from Buy to Hold and set a price target of $17.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:30 pm

WMT

During a conference call, Walmart's CFO stated that the company is striving to reduce grocery prices as the holiday season approaches.

Portfolio Pulse from Charles Gross

November 16, 2023 | 1:26 pm

VET

Vermilion Energy Inc. has acquired additional common shares and warrants of Coelacanth Energy Inc., increasing its ownership to approximately 18.55% of the issued and outstanding common shares, or 19.62% on a partially diluted basis. The acquisitions were made through various transactions, including a public offering and purchases through the TSX Venture Exchange. Vermilion may continue to acquire more shares until November 27, 2023, and will adjust its investment strategy based on market conditions and Coelacanth's performance.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:23 pm

TME

JP Morgan analyst Alex Yao has upgraded Tencent Music Entertainment Group (TME) from Neutral to Overweight and increased the price target from $7 to $10.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:20 pm

BTCUSD

Cryptocurrency analyst Kaleo predicts Bitcoin (BTC) will reach $80,000 after the next halving event, drawing parallels between the post-COVID-19 market recovery in 2020 and the current market trends following the FTX collapse. The halving event, which cuts the reward for mining new Bitcoin blocks in half, is expected to reduce the rate of new Bitcoin creation and potentially lead to a price surge. At the time of the article, BTC was trading at $37,469, up 5.33% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 1:18 pm

CRSP

VRTX

The UK MHRA has granted conditional marketing authorization for Casgevy, a CRISPR/Cas9 gene-edited therapy for SCD and TDT, developed by Vertex Pharmaceuticals and CRISPR Therapeutics. The therapy has shown positive trial results and could replace bone marrow transplants, but it requires a complex administration process. VRTX shares closed at $349.34, and CRSP shares are up 4.93% in premarket trading.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 1:17 pm

WMT

Walmart's CEO announced during a conference call that the company will reduce prices on general merchandise items for the holiday season in response to deflation.

Portfolio Pulse from Charles Gross

November 16, 2023 | 1:15 pm