Streetbeat News

Stock Prices

DBGI

Shares of Digital Brands Group were halted due to a circuit breaker after a sharp increase in price, with the stock rising 26.6%.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 5:22 pm

DIA

QQQ

SPY

TLT

XLC

XLF

XLY

The October Personal Consumption Expenditure (PCE) price index showed a slowdown in inflation, aligning with economist expectations and signaling a potential end to the rate hike cycle. The market reacted with mixed movements: SPY slightly down, QQQ down more significantly, DIA up, while TLT, XLC, and XLY fell. Financials outperformed with XLF rising.

Portfolio Pulse from Piero Cingari

November 30, 2023 | 5:21 pm

BNO

DBO

OILK

USL

USO

USOI

OPEC+ is reportedly nearing a preliminary agreement to deepen oil production cuts by an additional 1 million barrels per day, on top of Saudi Arabia's voluntary reduction. This decision could lead to total cuts nearing 2 million bpd for Q1 2024. Oil prices have risen, with WTI at $77.82 and Brent at $83.90. The cuts are a proactive measure in response to expected lower demand and a potential decline in oil prices next year due to abundant supplies and economic downturn.

Portfolio Pulse from Vandana Singh

November 30, 2023 | 5:19 pm

URNJ

URNM

At Benzinga's ETFS Unlocked Event, Sprott Asset Management CEO John Ciampaglia highlighted uranium as the standout commodity of the year. He remains optimistic about its long-term prospects despite its recent strong performance.

Portfolio Pulse from Bill Haddad

November 30, 2023 | 5:15 pm

BKR

COP

CRC

CVX

USO

XOM

The COP28 Climate Summit in Dubai has nations reaffirming commitments to reduce fossil fuel reliance, posing a potential challenge to oil companies. Despite this, oil stocks like Chevron, Exxon Mobil, and ConocoPhillips remained stable on the summit's opening day. Discussions on carbon capture and storage (CCS) are anticipated, with companies like California Resources Corp, Baker Hughes, and ExxonMobil positioned to benefit. ETFs tracking the carbon capture industry include KRBN, SMOG, and CRBN.

Portfolio Pulse from Neil Dennis

November 30, 2023 | 5:12 pm

AAPL

AMZN

DIS

IBM

MSFT

WBD

Elon Musk's explicit response to advertisers boycotting Twitter could further alienate companies and impact the platform's financial stability. Companies like Disney, Warner Bros. Discovery, IBM, Apple, Amazon, Coca-Cola, and Microsoft have paused ads on Twitter. Twitter's ad revenue, which constitutes 90% of its income, has reportedly declined since Musk's acquisition. The platform also faces a high debt burden and reduced valuations, with Fidelity marking it down by 58%. Musk remains optimistic about Twitter's future valuation.

Portfolio Pulse from Chris Katje

November 30, 2023 | 5:11 pm

REE

REE Automotive Ltd (NASDAQ:REE) reported Q3 FY23 revenue of $210,000 and a net loss of $(24.1) million, an improvement from last year's $(33.5) million loss. Adjusted EPS of $(1.99) beat estimates. Operating expenses decreased by 28.4%. The company plans to scale up U.S. production by end of 2024 and has entered into a securities purchase agreement with M&G Investment Ltd. Demo trucks are expected to ship by Christmas, with certification anticipated in the coming weeks. The dealer network expansion doubled the order book to $43 million. REE shares dropped 11.5% to $5.98.

Portfolio Pulse from Shivani Kumaresan

November 30, 2023 | 5:11 pm

LZB

La-Z-Boy's stock is trading higher following the announcement of their Q2 financial results, which exceeded expectations. Additionally, the company provided guidance for Q3 and increased its quarterly cash dividend.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 5:10 pm

LITP

John Ciampaglia, CEO of Sprott Asset Management, noted a healthy correction in lithium this year due to a moderation in the growth of electric vehicles (EVs) as financing rates have increased.

Portfolio Pulse from Bill Haddad

November 30, 2023 | 5:06 pm

NTAP

Citigroup has maintained a Neutral rating on NetApp (NASDAQ:NTAP) and increased its price target from $83.00 to $90.00. NetApp's shares are currently trading at $90.55, which is 1.12% higher than the last 24 hours. The new price target suggests a slight decrease of 0.6% from the current price. NetApp specializes in enterprise data management and storage solutions, with the Hybrid Cloud segment being its primary revenue generator.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 5:00 pm