Streetbeat News

Stock Prices

ORCL

Evercore analysts have upgraded their rating on Oracle (NYSE:ORCL) from 'In Line' to 'Outperform' and increased their price target from $131 to $135, suggesting a 23% upside. This comes after Oracle's stock dropped 13% following Q1 results that didn't meet expectations. Despite challenges with the recently acquired Cerner healthcare software business, Evercore believes the post-results pullback offers a good entry point for investors. They expect Oracle's core cloud offering to account for half of total revenue by fiscal 2026, boosting revenue to $62.9 billion.

Portfolio Pulse from Benzinga Neuro

October 10, 2023 | 9:23 am

BABA

BIDU

FXI

NIO

ODD

XPEV

U.S.-listed Chinese stocks are trading higher in the premarket following a report by Bloomberg that China is considering new stimulus measures to meet its annual growth target. Stocks mentioned include Alibaba (BABA), Baidu (BIDU), iShares China Large-Cap ETF (FXI), JD.com (JD), Li Auto (LI), NIO Inc. (NIO), Oddball Stocks (ODD), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

October 10, 2023 | 9:21 am

MOB

Bank of New York has increased its stake in Mobilicom from 75.76% to 78.01%, leading to a 20% premarket increase in Mobilicom's shares.

Portfolio Pulse from Charles Gross

October 10, 2023 | 9:13 am

PFSW

XPO

Transcosmos has announced its decision to tender all its outstanding shares in PFSweb, Inc. (16.2% of all outstanding shares) to GXO Logistics, Inc. The decision was made at the company's management meeting held on October 10, 2023.

Portfolio Pulse from Charles Gross

October 10, 2023 | 9:02 am

ETHUSD

SHIBUSD

The burn rate of Shiba Inu (CRYPTO: SHIB) has surged by 100% over the past 24 hours, permanently removing 44 million SHIB tokens from circulation. This coincides with a significant milestone achieved by SHIB’s newly launched layer-2 blockchain solution, Shibarium, which has reached one million blocks. The Shiba Inu development team is part of the Ethereum (CRYPTO: ETH) network.

Portfolio Pulse from Mehab Qureshi

October 10, 2023 | 8:53 am

STWD

Keefe, Bruyette & Woods analyst Jade Rahmani has downgraded Starwood Prop Trust (NYSE:STWD) from Outperform to Market Perform and lowered the price target from $21 to $20.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:42 am

CAG

GIS

KHC

Packaged-food manufacturers in the US are experiencing a significant drop in sales due to high food prices, consumer shift to fresh produce, and market share loss to private label and emerging brands. Companies like Conagra Brands, General Mills, Kellanova, and Kraft Heinz have seen their volumes fall by 6% or more in the 52-week period ended September 2023. Analyst Robert Moskow from TD Cowen suggests that this trend could continue into 2024 unless firms reduce prices.

Portfolio Pulse from Benzinga Neuro

October 10, 2023 | 8:40 am

GLW

JP Morgan analyst Samik Chatterjee has downgraded Corning (NYSE:GLW) from Overweight to Neutral and lowered the price target from $43 to $36.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 8:37 am

PMEC

Primech Holdings Ltd. has priced its initial public offering (IPO) of 3.05 million shares at $4 per share, expecting to raise $12.2 million. The shares will be listed on the Nasdaq Capital Market under the ticker symbol 'PMEC' and trading is expected to commence on October 10, 2023. The proceeds will be used for business expansion, R&D, marketing, upgrading vehicles for EV compatibility, and potential minority investments in the EV conversion business.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 7:19 am

AAPL

AMZN

GOOGL

NVDA

The ongoing bull market, which started in October 2022 and resulted in an over 30% peak rally in the S&P 500, is considered one of the weakest in history, according to Ned Davis Research. The firm cites high valuations, the Federal Reserve's monetary tightening policies, and a narrow rally led by mega-cap tech stocks as reasons for the market's weakness. The S&P 500's year-to-date returns are flat, excluding the top eight mega-cap tech stocks, including Amazon, Apple, Alphabet, and Nvidia.

Portfolio Pulse from Benzinga Neuro

October 10, 2023 | 7:18 am