Streetbeat News

Stock Prices

BP

HAL

MRO

OXY

SLB

Shares of oil companies are trading higher due to the rise in crude oil prices following the US sanctions on two shipping companies for violating the price cap on Russian oil. The ongoing Israel-Hamas conflict has also contributed to supply uncertainty.

Portfolio Pulse from Bill Haddad

October 13, 2023 | 10:34 am

CMTL

Comtech Telecommunications Corp's shares are up by about 18% after reporting Q4 results. The company posted revenue of $148.81 million, beating the consensus of $140.13 million. Revenues in the Satellite and Space Communications segment rose 22.7% Y/Y to $94.2 million, and the Terrestrial and Wireless Networks segment revenue grew 8.8% Y/Y to $54.6 million. The company also announced a deal to sell its Power Systems Technology product line to Stellant Systems, Inc. for $40 million.

Portfolio Pulse from Lekha Gupta

October 13, 2023 | 10:31 am

GLD

SPY

US stock markets closed in red on October 13 due to rising bond yields and higher-than-expected September consumer price. Asian and European markets also slid, with concerns over strong US inflation data and its impact on interest rates. Commodities saw crude oil jump by 3.90% and gold surpass $1,900. US futures were down in early trading.

Portfolio Pulse from Akanksha Bakshi

October 13, 2023 | 10:26 am

JD

Morgan Stanley analyst Eddy Wang has downgraded JD.com from Overweight to Equal-Weight and lowered the price target from $55 to $33.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:22 am

FTNT

Barclays analyst Saket Kalia has downgraded Fortinet (NASDAQ:FTNT) from Overweight to Equal-Weight and lowered the price target from $71 to $63.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:16 am

ARQT

Goldman Sachs analyst Jonathan Block has downgraded Arcutis Biotherapeutics (NASDAQ:ARQT) from Buy to Neutral and lowered the price target from $32 to $6.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:15 am

UNH

UnitedHealth Group has updated its FY23 adjusted EPS forecast to $24.85-$25.00, slightly above the previous estimate of $24.84. The prior outlook was $24.70-$25.00.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:08 am

RSHO

The article discusses the focus of both President Joe Biden and former President Donald Trump on reviving the U.S. economy through domestic manufacturing and mining. Amid geopolitical tensions and supply chain issues, investors are looking for opportunities in the U.S. reshoring initiatives. The Tema American Reshoring ETF (NYSE:RSHO) is highlighted as a fund that offers protection against trade wars and supply chain failures. Since its trading inception on May 11, RSHO has risen 14.32%, outperforming the S&P 500.

Portfolio Pulse from Melanie Schaffer

October 13, 2023 | 10:06 am

AGNC

AGNC Investment Corp. has implemented a new 'At The Market' common stock issuance program. The company has entered into separate sales agreements to offer and sell shares of common stock with an aggregate offering price of up to $1.25 billion.

Portfolio Pulse from Charles Gross

October 13, 2023 | 10:06 am

LCID

RIVN

TSLA

Lucid Group, Inc. (NASDAQ:LCID) has not yet released its Q3 delivery report, causing investor anxiety as its stock trades near record lows. The company has faced production issues and lukewarm demand for its higher-priced EVs due to economic uncertainties and aggressive price cuts by Tesla. In Q2, Lucid produced 2,173 EVs, down from 2,314 in Q1, and Q3 deliveries were significantly below forecasts at 1,404 units. The company revised its 2023 production guidance to over 10,000 units due to these challenges.

Portfolio Pulse from Shanthi Rexaline

October 13, 2023 | 10:00 am