Streetbeat News

Stock Prices

OKTA

Okta shares have declined after the company's Q3 results led to downgrades from multiple firms.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 7:33 pm

FL

Telsey Advisory Group analyst Cristina Fernández maintained an Outperform rating on Foot Locker, Inc. (NYSE:FL) and raised the price target from $22 to $31. The company's Q3 2023 results and revised guidance indicate stable trends, with no worsening as seen with other retailers. Foot Locker's promotional activities were anticipated in previous guidance and are not due to a soft consumer environment. The company is receiving vendor support to clear inventory and expects to end the year with inventory levels flat or slightly down. Sales trends improved through Q3, with a strong Black Friday weekend. Strategic initiatives, including the growth of strategic brands and community and power stores, are progressing. However, there is uncertainty for 2024 regarding inventory management and margin recovery. The analyst projects a lower EPS for 2023 and 2024, with operating margin compression in 2023 and a slight decrease in operating margin projection for 2024. FL shares dropped by 1.34% to $27.30.

Portfolio Pulse from Nabaparna Bhattacharya

November 30, 2023 | 7:33 pm

UNH

Truist Securities analyst David Macdonald has reiterated a Buy rating on UnitedHealth Group (NYSE:UNH) and maintained a price target of $610.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 7:30 pm

RY

Shares of Royal Bank of Canada (RY) are trading higher following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 7:30 pm

RTX

RTX's (NYSE:RTX) short interest has decreased by 19.46% since the last report, with 89.75 million shares sold short, representing 6.25% of available shares. The short interest is higher than the peer group average of 2.76%. While a decrease 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 30, 2023 | 7:30 pm

ETN

Eaton Corp (NYSE:ETN) has experienced a 15.18% increase in short interest since its last report, with 5.16 million shares sold short, representing 1.29% of its float. It would take about 2.49 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. Eaton's short interest is below its peer group average of 12.56%.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 7:30 pm

AZO

AutoZone (NYSE:AZO) has seen a 10% increase in short interest since its last report, with 520 thousand shares sold short, representing 3.3% of its float. It would take about 3.65 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, AutoZone has less short interest compared to its peer group average of 13.35%. The rise in short interest doesn't necessarily predict a near-term price drop, but it suggests traders are more bearish on the stock.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 7:30 pm

PSTG

JP Morgan analyst Pinjalim Bora has maintained an Overweight rating on Pure Storage (NYSE:PSTG) but reduced the price target from $45 to $40.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 7:29 pm

DLTR

JP Morgan analyst Matthew Boss has maintained a Neutral rating on Dollar Tree (NASDAQ:DLTR) and reduced the price target from $125 to $122.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 7:22 pm

VIBEF

Vibe Growth Corp (OTCQB:VIBEF) reported mixed Q3 2023 results with a revenue decline of 8.1% to $3.39 million and a net loss of $1.34 million, consistent with the same period in 2022. However, the company saw an improvement in dispensary gross margin to 49.7% and a positive EBITDA of $1.17 million for the quarter. CEO Mark Waldron attributed growth to strategic changes and cost reductions. VIBEF's stock was trading at $0.021 per share.

Portfolio Pulse from Patricio Liddle

November 30, 2023 | 7:22 pm