Streetbeat News

Stock Prices

QCOM

A significant number of investors have taken a bearish stance on Qualcomm (NASDAQ:QCOM), with 60% of recent trades reflecting this sentiment. The targeted price range for Qualcomm over the last 3 months has been $95.0 to $120.0. The current price of QCOM is down -0.72% at $110.26. Keybanc, Wells Fargo, and Rosenblatt have given price targets of $145, $100, and $145 respectively.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:31 pm

NTR

Nutrien (NYSE:NTR) has outperformed the market over the past 20 years, producing an average annual return of 9.07%. If an investor had bought $100 of NTR stock 20 years ago, it would be worth $575.81 today. The company currently has a market capitalization of $30.54 billion.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:30 pm

ACGL

Arch Capital Group (NASDAQ:ACGL) has outperformed the market over the past 20 years by 9.04% on an annualized basis, producing an average annual return of 16.33%. If an investor had bought $1000 of ACGL stock 20 years ago, it would be worth $20,872.90 today.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 4:30 pm

CLF

X

United States Steel Corporation (NYSE:X) is undergoing a transformation, expanding its EAF capabilities and downstream offerings, according to Morgan Stanley analyst Carlos De Alba. De Alba upgraded the rating for US Steel from Equal-Weight to Overweight and raised the price target from $25 to $40. The company's new 3.0mtpa Big River 2 mini mill is expected to come online in 2024, which will nearly double its EAF steelmaking capabilities. US Steel is also increasing its presence in downstream products.

Portfolio Pulse from Priya Nigam

October 02, 2023 | 4:30 pm

JNJ

Global health aid agency Unitaid is urging Johnson & Johnson (JNJ) to expand access to its tuberculosis (TB) drug, bedaquiline, particularly in countries with high TB cases. Unitaid has called on JNJ's CEO to remove all secondary patents, allowing for the production of generic versions of the drug. JNJ has confirmed its commitment not to enforce patents for bedaquiline in 134 designated low- and middle-income countries.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 4:28 pm

NVDA

Goldman Sachs has added NVIDIA Corp (NASDAQ:NVDA) to its conviction list, citing the company's strong position in the AI space. The firm believes NVIDIA is well-positioned to benefit from increasing demand as supply dynamics improve. The company's data center sales nearly tripled YoY last quarter, indicating the growing importance of its GPUs for customers seeking greater compute power. Goldman Sachs also highlighted NVIDIA's ability to keep up with demand as supply constraints ease and its successful management of supply chain bottlenecks. The firm has set a price target of $605 for NVIDIA shares.

Portfolio Pulse from Adam Eckert

October 02, 2023 | 4:23 pm

EGO

Eldorado Gold Corporation (NYSE:EGO) reported preliminary Q3 FY23 gold production of 120,042 ounces, higher than Q2 and Q1. The company is on track to achieve its FY23 guidance of 475,000 – 515,000 ounces. Eldorado also reported progress on its Skouries Project, with first gold production expected in mid-2025. However, EGO shares traded lower by 5.78% at $8.40.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 4:22 pm

IBKR

Interactive Brokers Group, Inc. (NASDAQ:IBKR) reported its Electronic Brokerage monthly performance metrics for September 2023. The company reported 1.798 million Daily Average Revenue Trades (DARTs), 8% lower than the prior year and 7% lower than the prior month. Client equity ended at $369.8 billion, 29% higher than the prior year but 2% lower than the prior month. Client margin loan balances ended at $43.6 billion, 8% higher than the prior year and 4% higher than the prior month. The company also reported 2.43 million client accounts, 21% higher than the prior year and 3% higher than the prior month.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 4:21 pm

FDX

FedEx Corp (NYSE:FDX) shares climbed after reporting positive quarterly results. Despite cyclical risks, Susquehanna analyst Bascome Majors upgraded FedEx from Neutral to Positive and raised the price target from $225 to $315. Majors cited three reasons for his confidence: historical performance of FDX volumes vs. share performance, fiscal 2024 guidance that absorbs return of incentive comp and unwind of pandemic pricing, and conservative forecasts for FDX's market-share-leading LTL business Freight.

Portfolio Pulse from Priya Nigam

October 02, 2023 | 4:19 pm

AEE

AEP

AES

Utilities stocks are trading lower due to a rise in Treasury yields, which could drive a rotation out of dividend-paying stocks.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 4:18 pm