Streetbeat News

Stock Prices

RIO

Iron ore prices are surging due to increased demand from China, positively impacting the Australian dollar (AUD). Transaction volumes in major Chinese ports have significantly risen, with the most-traded September iron ore on China's Dalian Commodity Exchange closing at its highest in weeks. This surge is attributed to China's steel control policies, improving steel margins and expectations of increased steel production. Rio Tinto (NYSE:RIO) announced a partnership to launch an entrepreneurial hub in West Australia, focusing on mining innovation, alongside securing a $15 billion financing agreement for the Simandou iron mine in Guinea, indicating a strong focus on innovation and expansion.

Portfolio Pulse from Stjepan Kalinic

April 10, 2024 | 6:59 pm

MSFT

NTES

Blizzard Entertainment and NetEase Inc (NASDAQ:NTES) have resolved their differences, leading to the return of World of Warcraft and other games to the Chinese market. This comes after a year-long negotiation following a fallout that ended a 15-year partnership. Additionally, Microsoft Corp. (NASDAQ:MSFT) and NetEase have agreed to explore bringing new NetEase titles to Xbox consoles, following Microsoft's acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

April 10, 2024 | 6:50 pm

CRM

Deep-pocketed investors have shown a bullish sentiment towards Salesforce (NYSE:CRM) options, with a notable division in sentiment: 52% bullish and 47% bearish. Benzinga's tracking revealed 19 extraordinary options activities, with a focus on a price range between $220.0 and $410.0 for CRM. The options trading patterns suggest significant market interest in Salesforce, which provides enterprise cloud computing solutions. The current market status of CRM shows a slight decline in price by -1.35% at $298.29, with the next earnings expected in 49 days.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 6:45 pm

MRK

PCVX

PFE

SNY

Vaxcyte Inc (NASDAQ:PCVX) is positioned to outperform Pfizer (NYSE:PFE) and Merck & Co Inc (NYSE:MRK) in the pneumococcal conjugate vaccine (PCV) market, which is expected to grow from $8 billion to $12 billion in the coming years. Vaxcyte's advanced vaccine technology, capable of reaching up to 24 conjugates, offers a stronger immune response compared to Pfizer's Prevnar20 and Merck's Vaxneuvance. The market shift towards adult vaccination, potentially expanding due to lowered vaccination age recommendations, presents a significant growth opportunity for Vaxcyte. Needham maintains a Buy rating on Vaxcyte with a price target of $95.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 6:42 pm

INTC

NVDA

Jim Cramer, a longtime bull on NVIDIA Corp (NASDAQ:NVDA), encourages investors to hold or buy NVDA stock despite recent selling, attributing the sell-off to traders unaware of the company's value and concerns over Federal Reserve rate policies. Cramer, with cash ready for his Charitable Trust, is looking to buy NVDA on any weakness, highlighting the company's superior technology, especially against competitors like Intel Corp (NASDAQ:INTC). NVDA shares saw a rebound in trading, reflecting Cramer's confidence.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 6:37 pm

ARGX

RNAC

Needham initiated coverage on Cartesian Therapeutics Inc (RNAC) with a Buy rating and a $42 price target, following its public debut via a reverse merger with Selecta Biosciences. Cartesian's lead candidate, Descartes-08, shows promise in treating myasthenia gravis (MG) with longer-lasting benefits compared to Argenx SA's (ARGX) Vyvgart. Early data suggests Descartes-08 could significantly impact the MG treatment market, with potential sales reaching $4.3 billion by 2037. RNAC's stock rose 14.58% to $16.03.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 6:35 pm

ADIL

ASTI

DAL

JAGX

MRIN

VIAO

VLD

U.S. stocks declined, with the S&P 500 down 1%. Delta Air Lines reported better-than-expected Q1 earnings, with an 8% revenue growth. Energy shares rose by 0.3%, while real estate shares fell by 4.3%. Marin Software, Adial Pharmaceuticals, and Jaguar Health saw significant stock increases, whereas VIA optronics, Ascent Solar Technologies, and Velo3D experienced notable declines.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 6:34 pm

CMCSA

PKW

RSPC

Benchmark analyst Matthew Harrigan reiterates a Buy rating on Comcast Corp (NASDAQ:CMCSA) with a $55 price target, highlighting the company's significant growth portfolio and underappreciated market valuation. NBCU's strong Olympic ad sales, with $1.2 billion in commitments for the upcoming games, surpassing Tokyo's $1.25 billion, reflect positively on Comcast's strategic investments and Peacock's momentum. The company's focus on cross-platform advertising and partnerships, such as with The Trade Desk, positions NBCUniversal as a leader in AdTech. Comcast's stock is also accessible through Invesco BuyBack Achievers ETF (NASDAQ:PKW) and Invesco S&P 500 Equal Weight Communication Services ETF (NYSE:RSPC).

Portfolio Pulse from Anusuya Lahiri

April 10, 2024 | 6:32 pm

ANET

Arista Networks (NYSE:ANET) has seen a mix of bullish and bearish options trading activity, with 60% of trades being bearish. The options trading suggests a price target range of $290 to $410. The company, a provider of networking equipment, has seen its stock price decrease by -1.95% to $289.0. Analysts from Evercore ISI Group and Goldman Sachs have set target prices of $300 and $356, respectively, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 6:30 pm

Financial analysts have observed a significant bearish trend in options trading for GE Aero (NYSE:GE), with a mix of bullish and bearish sentiments among traders. Despite the bearish options activity, professional analysts have set an average price target of $174.0 for GE, with individual targets ranging from $160 to $190. The company, a leader in aerospace engineering and services, has seen its stock price decrease by -1.53%, currently at $152.12. The next earnings report is expected in 13 days, potentially influencing the stock's future performance.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 6:30 pm