Streetbeat News

Stock Prices

AAPL

SSNGY

Apple Inc (NASDAQ:AAPL) is reportedly working on prototypes for a foldable iPhone, a significant design shift from its traditional models. According to The Information, these prototypes fold widthwise, resembling a clamshell. Although a launch date is speculative, it's suggested that if a foldable iPhone is released, it would not be before 2025. This development comes as competitors like Samsung Electronics (OTC:SSNGY) have already introduced foldable smartphones into the market.

Portfolio Pulse from Chris Katje

February 07, 2024 | 6:42 pm

AAPL

ENPH

NYCB

SNAP

Wall Street saw a bullish day with the S&P 500 nearing 5,000 points, driven by strong corporate earnings and the dominance of tech giants, despite regional banking concerns. The 'Magnificent Seven' tech companies surpassed a $13 trillion market cap. NYCB faced a decline after credit rating downgrades. Cryptocurrency and major indices also saw movements, with notable stock performances post-earnings reports.

Portfolio Pulse from Piero Cingari

February 07, 2024 | 6:40 pm

IMAB

I-MAB's (NYSE:IMAB) short interest has decreased by 6.43% since the last report, with 1.51 million shares sold short, representing 2.33% of its float. The current short interest suggests a more bullish market sentiment compared to its peer group average of 7.57% short interest. The decrease in short interest indicates fewer traders are betting against the stock, which could influence its short-term price movement.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:30 pm

MMM

3M's (NYSE:MMM) short interest has decreased by 4.48% since the last report, with 7.03 million shares sold short, representing 1.28% of available shares. The current short interest is below the peer group average of 1.74%. This decline in short interest could indicate a more bullish sentiment towards 3M, although it does not guarantee a near-term price increase.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:30 pm

EVGO

EVgo's (NYSE:EVGO) short interest has increased by 5.62% since the last report, with 23.68 million shares sold short, representing 22.92% of its float. This indicates a bearish market sentiment towards EVGO, as it takes traders approximately 12.34 days to cover their short positions. Despite this, an increase in short interest does not necessarily predict a near-term price fall. EVgo's short interest is significantly higher than its peer group average of 11.79%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:30 pm

DXCM

DexCom (NASDAQ:DXCM) has significantly outperformed the market with an annualized return of 26.47% over the past 15 years, turning a $100 investment into $13,189.53 today. The company now has a market capitalization of $47.75 billion.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:30 pm

CNC

Over the past 15 years, Centene (NYSE:CNC) has produced an average annual return of 18.91%, outperforming the market by 6.28% on an annualized basis. A $1000 investment in CNC 15 years ago would be worth $13,704.86 today. Centene's market capitalization currently stands at $39.91 billion.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:30 pm

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares rose in premarket trading after reporting better-than-expected Q4 results, with several analysts upgrading their price targets. The company's strong performance was highlighted by significant transaction growth, same-store sales growth, and restaurant-level margin expansion. Analysts remain optimistic about Chipotle's growth trajectory despite challenges such as rising labor costs and inflation.

Portfolio Pulse from Priya Nigam

February 07, 2024 | 6:25 pm

PFGC

Performance Food Group Company (NYSE:PFGC) reported Q2 earnings with a bottom line missing estimates due to a decrease in selling price per case, attributed to a 1.4% deflation in the Foodservice segment. Despite this, net sales grew 2.9% year over year to $14.296 billion, slightly above analyst expectations. Adjusted EPS of 90 cents missed the consensus of 92 cents. The company also reported a 6.6% increase in gross profit and an 11.9% increase in adjusted EBITDA. PFGC repurchased 0.8 million shares for $50.0 million. The company provided a Q3 net sales outlook of $14 billion-$14.3 billion, slightly below the estimate of $14.39 billion, but maintains its full-year 2024 and 3-year net sales and adjusted EBITDA targets. PFGC shares dropped 1.62% to $72.09.

Portfolio Pulse from Nabaparna Bhattacharya

February 07, 2024 | 6:24 pm

PAG

Penske Automotive Group Inc (NYSE:PAG) reported a 4% Y/Y sales growth in Q4 FY23, reaching $7.27 billion and beating analyst expectations. The growth was driven by strong performance in retail automotive and commercial truck operations. Despite the sales growth, the company saw a decrease in operating margin and a 20.8% Y/Y drop in operating income. Adjusted EPS of $3.45 missed analyst expectations due to a non-cash goodwill impairment charge. Penske also announced a 10% increase in its quarterly dividend and repurchased 2.6 million shares in 2023.

Portfolio Pulse from Lekha Gupta

February 07, 2024 | 6:12 pm