Streetbeat News

Stock Prices

EOG

EOG Resources (NYSE:EOG) has seen an 11.93% increase in short interest since the last report, with 7.08 million shares sold short, representing 1.22% of available shares. It would take about 2.08 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, EOG has less short interest compared to its peers, with a peer group average of 6.24%. This could be interpreted as relatively bullish for EOG.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:45 pm

DRVN

FIVE

GPC

MCW

OLLI

ORLY

Bank of America estimates a $68 billion consumer tailwind in 2024 from social security changes and lower gas prices, potentially supporting retail stocks. The tailwind includes a $76 billion increase from social security and $37 billion from lower gas prices, offset by a $23 billion reduction in SNAP benefits and $22 billion from resumed student loan payments. The economy's health and job market will be crucial for consumer spending. Bank of America recommends selective stock picks, favoring defensive names and avoiding big-ticket items. It suggests O'Reilly Auto (ORLY), Genuine Parts (GPC), Driven Brands (DRVN), Mister Car Wash (MCW), Five Below (FIVE), and Ollie's (OLLI) as preferred stocks. Millennials face a drag from student loan repayments, and few will benefit from tax refunds due to inflation adjustments.

Portfolio Pulse from Neil Dennis

December 05, 2023 | 8:38 pm

BTCUSD

Deribit's data indicates a positive outlook for Bitcoin, with futures premiums suggesting a 10-12% price increase by spring 2024. The futures market's optimism is reflected in the widening gap between current and future prices. Bitcoin briefly surpassed $44,000, influenced by market optimism and expectations of a spot Bitcoin ETF approval. Factors such as the Binance settlement, geopolitical tensions, easing inflation, and growing institutional interest are contributing to the rally. Open interest in BTC options is nearing record highs, signaling strong market activity.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 8:35 pm

MSI

Motorola Solutions (NYSE:MSI) has significantly outperformed the market, delivering an average annual return of 21.69% over the past 15 years. A $100 investment in MSI 15 years ago would be worth $1,932 today. The company's current market capitalization stands at $53.79 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

SRE

Sempra (NYSE:SRE) has seen a 99.04% increase in short interest since its last report, with 13.00 million shares sold short, representing 2.07% of its float. It would take about 3.23 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Sempra's short interest is below its peer group average of 3.12%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

RCL

Over the past 15 years, Royal Caribbean Gr (NYSE:RCL) has produced an average annual return of 16.77%, outperforming the market by 5.35% on an annualized basis. A $1000 investment in RCL 15 years ago would be worth $10,364.96 today. The company currently has a market capitalization of $29.03 billion.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

ADP

Automatic Data Processing (NYSE:ADP) has seen a 4.85% increase in short interest since the last report, with 4.44 million shares sold short, representing 1.08% of available shares. It would take about 2.56 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, ADP's short interest is below its peer group average of 6.00%. The rise in short interest does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

HPQ

HP Inc. (NYSE:HPQ) has seen a decrease in short interest, with the current level at 11.93 million shares or 1.38% of float, down 6.12% since the last report. The average time to cover these short positions is 1.75 days. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price. HP's short interest is below its peer group average of 6.96%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 8:30 pm

BTCUSD

Bitcoin (BTC) reached its highest level since April 2022, briefly surpassing $44,000. The surge is attributed to increased institutional interest and optimism for a potential spot ETF approval by the SEC. Additionally, expectations of Federal Reserve rate cuts in 2024, hinted by Fed Chair Jerome Powell, are contributing to the rally. Bitcoin is up over 4% in 24 hours and nearly 15% over the past week.

Portfolio Pulse from Adam Eckert

December 05, 2023 | 8:23 pm

AZO

Goldman Sachs analyst Kate McShane maintains a Buy rating on AutoZone Inc (NYSE:AZO) with a price target of $3,000. AutoZone reported Q1 FY24 sales growth of 5.1% Y/Y to $4.19 billion, slightly missing consensus estimates. EPS of $32.55 beat both consensus and Goldman Sachs estimates. Domestic same store sales growth was lower than expected. McShane is looking for further details on the earnings call regarding various aspects of the business. She notes potential downside risks and provides revenue and EPS estimates for FY24 to FY26. AZO shares are up 0.27% at $2,671.22.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 8:22 pm