Streetbeat News

Stock Prices

OKTA

Wells Fargo analyst Andrew Nowinski has downgraded Okta (NASDAQ:OKTA) from Overweight to Equal-Weight and reduced the price target from $80 to $70.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:49 pm

IMGN

Immunogen shares are set to resume trading at 8:00 A.M. ET after a halt.

Portfolio Pulse from Charles Gross

November 30, 2023 | 12:46 pm

GOOG

GOOGL

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) is planning to launch its online investment app in the U.K. in early 2024, offering 6,000 U.S. stocks and 24-hour trading. This marks Robinhood's third attempt at international expansion after previous setbacks. The company faced challenges in the U.S., including fines and scrutiny over its practices. Robinhood will not offer payment-for-order-flow in the U.K. and plans to generate revenue through other services. Ark Fintech Innovation ETF purchased Robinhood shares, while Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) sold all its remaining shares. HOOD shares were up 3.25% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 12:46 pm

AKR

Compass Point analyst Floris Van Dijkum has downgraded Acadia Realty Trust (AKR) from Buy to Neutral and set a price target of $16.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:44 pm

BILI

Barclays analyst Jiong Shao has downgraded Bilibili (NASDAQ:BILI) from Equal-Weight to Underweight and reduced the price target from $15 to $10.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:43 pm

CRM

HPE

NTNX

OKTA

PVH

QQQ

SNOW

SPY

VSCO

ZUO

Stock futures, including Nasdaq and S&P, are rallying as the market is set to finish November on a strong note. The direction of trading is expected to be influenced by the personal consumption expenditure index and OPEC+'s decision on oil output. Positive tech sector earnings have contributed to the upbeat sentiment. The market anticipates a potential Fed rate cut in 2024, with the first cut possibly in June 2024. In premarket trading, SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw gains. Several companies, including Nutanix, Inc. (NTNX), Okta, Inc. (OKTA), PVH Corp. (PVH), Salesforce, Inc. (CRM), Snowflake Inc. (SNOW), Zuora, Inc. (ZUO), and Victoria’s Secret & Co. (VSCO), reacted to earnings news. Hewlett Packard Enterprise Company (HPE) announced a partnership with Nvidia Corp. (NVDA). Other companies set to report earnings include Big Lots, Inc. (BIG), Cracker Barrel Old Country Store, Inc. (CBRL), The Kroger Co. (KR), Royal Bank of Canada (RY), The Toronto-Dominion Bank (TD), Ambarella, Inc. (AMBA), Dell Technologies Inc. (DELL), PagerDuty, Inc. (PD), Ulta Beauty, Inc. (ULTA), UiPath Inc. (PATH), and Zumiez Inc. (ZUMZ).

Portfolio Pulse from Shanthi Rexaline

November 30, 2023 | 12:41 pm

ASML

ASML Holding N.V. is preparing for a leadership transition with Christophe Fouquet set to become the next CEO in 2024, pending approval at the annual meeting on April 24, 2024. Current CEO Peter Wennink will retire on the same date. The news comes amidst concerns over ASML's equipment being used by SMIC to produce advanced processors for Huawei, raising questions about the effectiveness of U.S. export restrictions. ASML shares saw a slight decline of 0.83% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 12:41 pm

REE

REE Automotive Ltd reported a 28% year-over-year decrease in net loss for Q3 and ended the quarter with $101M in liquidity. The company also announced that it has doubled its initial order book value to $43M.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:40 pm

UAL

United Airlines CEO Scott Kirby is currently speaking on CNBC, potentially discussing company performance, future outlook, or industry trends.

Portfolio Pulse from Charles Gross

November 30, 2023 | 12:39 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is close to being surpassed by PDD Holdings Inc (NASDAQ:PDD) as China's most valuable e-commerce company. Alibaba's market cap in Hong Kong is at $187 billion, just below PDD's $188.3 billion. The shift is due to challenges Alibaba faced after China's 2020 tech crackdown and competition from new players like PDD. Alibaba's struggles include a need for innovation and adapting to anti-monopoly regulations, which led to a record fine in 2021. Alibaba's stock is near its yearly low, with a 19% YTD loss. PDD, on the other hand, has seen rapid growth and global expansion, with its app Temu gaining significant traction.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 12:37 pm