Streetbeat News

Stock Prices

ADBE

MSFT

Adobe Inc (ADBE) experienced a 14% stock decline after reporting a weaker sales outlook, despite surpassing Q1 earnings and revenue estimates. This marks Adobe's largest slump since 2022 and also negatively impacted Microsoft Corporation (MSFT) shares. The downturn is attributed to concerns over Adobe's Creative Cloud health and slow AI monetization pace. Adobe's AI integration efforts, including its proprietary AI model Firefly, face intensified competition from generative AI startups and Microsoft-backed OpenAI's new video-generation model, Sora.

Portfolio Pulse from Upwallstreet

March 15, 2024 | 6:06 pm

DKS

Telsey Advisory Group analyst Joseph Feldman upgraded the forecast for Dick's Sporting Goods Inc (NYSE:DKS) to $245 from $195, citing diverse national brands, new store concepts, and solid Q4 FY23 sales growth of 7.8% to $3.876 billion, beating estimates. Feldman highlights the company's strong position in the $140 billion sporting goods industry and raises the 2024 EPS estimate to $13.25 and 2025 EPS to $14.31. Despite the positive outlook, DKS shares dropped 3.01% to $210.29.

Portfolio Pulse from Nabaparna Bhattacharya

March 15, 2024 | 6:05 pm

SBUX

Starbucks (NASDAQ:SBUX) has seen a mix of bullish and bearish options trading activity, with a slight lean towards bearish sentiment. Analysis of 17 unusual trades shows 47% bullish and 52% bearish tendencies. Significant trades include both puts and calls with strike prices ranging from $80 to $100. The current market price of SBUX is down -1.33% at $90.44, with an RSI indicating potential oversold conditions. An analyst from Citigroup maintains a Neutral rating with a price target of $102. Starbucks operates over 38,000 stores globally and is set to release its next earnings in 46 days.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 6:00 pm

VEEV

Deep-pocketed investors have shown a predominantly bearish sentiment towards Veeva Systems (NYSE:VEEV), with unusual options activity detected. The activity includes 8 notable options trades, with a bearish majority of 87%. The targeted price range for VEEV by these investors is between $100.0 and $240.0. Currently, VEEV's stock is slightly down by -0.58% at $231.12, with an anticipated earnings release in 75 days. Industry analysts have set an average target price of $243.4 for VEEV, with ratings ranging from Neutral to Buy.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 6:00 pm

SSNC

Over the past decade, SS&C Techs Hldgs (NASDAQ:SSNC) has delivered an average annual return of 11.59%, outperforming the market. A $100 investment in SSNC 10 years ago would now be worth $301.38. The company currently has a market capitalization of $15.42 billion.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 6:00 pm

TTD

Trade Desk (NASDAQ:TTD) has significantly outperformed the market with an average annual return of 30.09% over the past 5 years, turning a $100 investment into $376.12 today. The company's market capitalization stands at $37.48 billion.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 6:00 pm

JD

ONLN

RTH

JD.com Inc (NASDAQ:JD) has decided not to proceed with the acquisition of British electrical retailer Currys, leading to a decline in its stock price. This decision follows a similar move by US investor Elliott Advisors and comes amid JD.com's exploration of expansion opportunities in the UK and Europe. Despite recent revenue growth, JD.com's stock slipped by 3.43% to $27.05. Investors can gain exposure to JD.com through VanEck Retail ETF (NASDAQ:RTH) and ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 5:53 pm

RMBL

Wedbush analyst Seth Basham maintained an Outperform rating on RumbleON Inc (NASDAQ:RMBL) but lowered the price target from $7.50 to $7, citing a challenging demand picture. RumbleON reported a 6.2% Y/Y decrease in Q4 revenue, missing estimates, and withdrew its 2024 outlook for a three-year improvement plan. The company aims for $1.7 billion revenue and $150 million EBITDA by 2026. Despite near-term challenges, long-term goals are deemed achievable with demand recovery and GPU headwind resolution. RMBL shares rose 10.20% to $5.51.

Portfolio Pulse from Shivani Kumaresan

March 15, 2024 | 5:49 pm

ABT

RBGLY

RBGPF

An Illinois jury has ordered Reckitt Benckiser's Mead Johnson to pay $60 million for a case involving its Enfamil baby formula and the death of a premature infant from NEC. This opens the door to hundreds of similar lawsuits against Mead Johnson and Abbott Laboratories. Over 400 NEC lawsuits are pending, separate from other legal issues Abbott faces. ABT shares fell 4.59% to $113.40.

Portfolio Pulse from Vandana Singh

March 15, 2024 | 5:48 pm

Z

Deep-pocketed investors have shown a bearish sentiment towards Zillow Gr (NASDAQ:Z), with a significant move in options trading detected. Benzinga's options scanner revealed 37 extraordinary activities, with 70% being bearish. The options trading suggests a price window from $40.0 to $75.0 for Zillow Gr. The company's stock is currently down by -1.05%, with a trading volume of 13,421,355 and an RSI indicating potential oversold conditions. An analyst from Jefferies maintains a Buy rating with a target price of $75.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 5:46 pm