Streetbeat News

Stock Prices

NVO

Novo Nordisk has reaffirmed its FY23 guidance provided in October, projecting sales growth in local currencies of 32%-38% and operating profit growth of 40%-46%.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 7:51 am

JPM

TIP

JPMorgan Chase & Co CEO Jamie Dimon has commented on the potential impact of rate hikes and quantitative tightening on the economy. He believes that inflation is stickier than people think and there is a higher chance of rates going up. He also sees potential for a double whammy for borrowers, as credit spreads may also rise. The Fed hikes and the quantitative tightening have affected home sales but not home prices, as well as auto sales and credit card loans. Over time, it will affect businesses at the refinance and floating rates. The iShares TIPS Bond ETF ended Wednesday’s session up 0.87% at $103.24.

Portfolio Pulse from Shanthi Rexaline

November 02, 2023 | 7:46 am

SHEL

Shell (NYSE:SHEL) reported Q3 adjusted earnings of $1.86 per share, missing the analyst consensus estimate of $1.87 by 0.53 percent. This represents a 28.46 percent decrease from the same period last year. Quarterly sales were $76.35 billion, missing the analyst consensus estimate of $82.96 billion by 7.97 percent, a 20.26 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 7:11 am

TSLA

Billionaire investor and Baron Capital CEO Ron Baron predicts Tesla Inc (NASDAQ:TSLA) could reach a $4 trillion market capitalization in a decade, a sentiment shared by Tesla CEO Elon Musk. Baron, who invested approximately $400 million in Tesla between 2014 and 2016, likened the future of Tesla to 'Intel inside computers', suggesting the company will expand beyond automotive manufacturing to become a major supplier of autonomous driving software. However, Tesla recently reported third-quarter revenue of $23.35 billion, missing a Street consensus estimate of $24.38 billion, and production and vehicle delivery numbers below second-quarter numbers.

Portfolio Pulse from Anan Ashraf

November 02, 2023 | 7:07 am

SBUX

Starbucks Corporation (NASDAQ:SBUX) is expected to report higher Q4 earnings at 92 cents per share, up from 81 cents per share a year ago. The company's revenue is projected to be $8.76 billion, compared to $8.41 billion in the year-ago period. Starbucks's Board of Directors recently approved a 7.5% increase in the company's quarterly cash dividend. However, the company's shares fell 1% to close at $91.35 on Wednesday. Several analysts have recently adjusted their price targets for the company.

Portfolio Pulse from Lisa Levin

November 02, 2023 | 7:01 am

ETHUSD

SOL

The value of Solana (CRYPTO: SOL) has increased by 80% in the past 30 days, largely due to the testnet launch of its scaling solution, Firedancer. Despite concerns over potential selling pressure following the transfer of large amounts of SOL to other wallets, the launch of Firedancer seems to have retained investor confidence. Solana has outperformed its competitor Ethereum (CRYPTO: ETH), which increased by less than 11% over the past month.

Portfolio Pulse from Mehab Qureshi

November 02, 2023 | 5:54 am

BTCUSD

DOGEUSD

FLOKIUSD

PEPEUSD

SHIBUSD

SOLUSD

Bitcoin's price surge above $35,000 has led to gains in meme coins and altcoins, including Shiba Inu, Floki, Dogecoin, and Pepe. The U.S. Federal Open Market Committee maintained the benchmark fed funds rate range at 5.25%-5.50%. Bitcoin's price reached a new 18-month high, surpassing $35,500.

Portfolio Pulse from Mehab Qureshi

November 02, 2023 | 4:55 am

TSLA

Tesla Inc's Cybertruck delivery event lottery has received the highest number of signups ever, according to the company's VP of Investor Relations, Martin Viecha. The high sign-up rate indicates increased anticipation for the upcoming Cybertruck and the event itself. The event, to be held at Gigafactory Texas on Nov. 30, will determine which shareholders can attend due to limited capacity. Net reservations for the Cybertruck have crossed the two million threshold.

Portfolio Pulse from Anan Ashraf

November 02, 2023 | 4:47 am

BRK

BYDDF

Charlie Munger, vice-chairman of Berkshire Hathaway, expressed concerns about the aggressive nature of the auto industry, particularly with the rise of electric vehicles. He mentioned his investment in BYD, a Chinese battery maker and major player in the EV market, which he persuaded Warren Buffett to acquire a 9.9% stake in 2008. Despite his admiration for BYD and its CEO, Munger admitted the company's aggressive strategies make him nervous.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 4:41 am

BTCUSD

ETHUSD

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has reported a paper gain of $900 million on its 158,400 Bitcoin (BTC) holdings, due to the recent surge in Bitcoin’s price. The company added 6,067 BTC to its holdings in the third quarter, despite recording a net loss of $143.4 million. The current value of the holdings stands at $5.640 billion, reflecting a 20% increase. However, had MicroStrategy invested the same amount in Ethereum (ETH), they would now possess 3,971,678 ETH, resulting in a value of $7.40 billion.

Portfolio Pulse from Mehab Qureshi

November 02, 2023 | 4:34 am