Streetbeat News

Stock Prices

Macquarie analyst Tim Nollen downgraded Unity Software (NYSE:U) from Neutral to Underperform while maintaining the price target at $20. This suggests a bearish outlook on the company's stock despite the unchanged price target.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:50 pm

SVFD

Save Foods's Board of Directors has authorized the company's officers to start preparing a distribution plan for its holdings in Plantify Foods, expected to launch in 2024. Save Foods holds 85,008,698 Common Shares of Plantify, representing 23.1% of Plantify's total issued and outstanding shares.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:50 pm

FANG

Diamondback Energy Inc (NASDAQ:FANG) announced a merger with Endeavor Energy Resources for about $26 billion, including Endeavor's net debt. The deal involves 117.3 million Diamondback shares and $8 billion in cash. It's expected to create a leading Permian operator with significant production and inventory depth. The merger, expected to close in Q4 2024, aims for $550 million in annual synergies and a 10% free cash flow per share accretion in 2025. Diamondback also plans to raise its dividend and has adjusted its capital return strategy post-merger.

Portfolio Pulse from Lekha Gupta

February 12, 2024 | 12:49 pm

MHK

NRDS

TEVA

URBN

UTHR

Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, including upgrades and downgrades. Notable mentions include Urban Outfitters, United Therapeutics, Mohawk Industries, NerdWallet, Teva Pharmaceutical, Assurant, Viavi Solutions, Rivian Automotive, Construction Partners, and XPO, Inc. These changes reflect analysts' revised expectations based on various factors likely affecting each company's stock performance.

Portfolio Pulse from Avi Kapoor

February 12, 2024 | 12:43 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares fell over 3% in premarket trading due to profit-taking after a nearly 7% gain last week and a downgrade by Barclays analyst Dan Levy from Overweight to Equal-Weight. Levy also lowered his price target for Rivian from $27 to $25. Despite recent price reductions for its vehicles and a pause in Canadian deliveries for a software update, Rivian looks forward to its quarterly earnings report on Feb. 21 and the launch of its R2 EV platform on March 7.

Portfolio Pulse from Shanthi Rexaline

February 12, 2024 | 12:35 pm

CHRW

ESE

FORR

FWRD

IBEX

The article highlights the top 5 industrials stocks considered oversold in Q1, based on their RSI values being near or below 30. These include IBEX Limited, Forrester Research, Inc., ESCO Technologies Inc., Forward Air Corporation, and C.H. Robinson Worldwide, Inc. Each company's recent financial performance and stock price action are briefly discussed, indicating potential buying opportunities for undervalued stocks in the industrials sector.

Portfolio Pulse from Avi Kapoor

February 12, 2024 | 12:34 pm

USAP

Universal Stainless & Alloy Products has announced an immediate base price increase of 7%–12% on premium products, while maintaining current material and energy surcharges.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:31 pm

TRMB

Trimble shares are trading lower following the company's announcement of Q1 and FY24 revenue guidance that fell below market estimates.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:30 pm

AKTS

Akoustis Technologies announced that two of its patented XBAW filters are being integrated into a Wi-Fi 7 router platform for a Tier-1 US-based carrier. This development could signify a significant technological advancement and potential revenue growth for Akoustis.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:23 pm

QQQ

RIVN

SPY

U.S. stock futures showed indecision ahead of key inflation data and earnings reports. Positive tech earnings and crude oil rally lifted markets last week, with major indices reaching new highs. Analysts express optimism but caution over valuations. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket gains. Rivian Automotive fell on negative analyst action. Companies like Arista Networks, Avis Budget Group, and others are set to report earnings. Crude oil prices and bond yields remained steady.

Portfolio Pulse from Shanthi Rexaline

February 12, 2024 | 12:19 pm