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Stock Prices

FCEL

FuelCell Energy Inc (NASDAQ:FCEL) shares surged 11.4% to $1.56 amid overall market strength after the Fed left rates unchanged, with projections of rate cuts in 2024-2026. Lower interest rates benefit capital-intensive industries like renewable energy by reducing borrowing costs, which can lead to more affordable project funding, expansion, and R&D investment. The clean energy sector also reacted positively to COP28's conclusion, signaling a move away from fossil fuels. The Fed's rate decision reflects a cautious approach to future policy adjustments, with a focus on returning to the 2% inflation target.

Portfolio Pulse from Henry Khederian

December 14, 2023 | 8:07 pm

DRIV

GM

General Motors' self-driving unit Cruise is laying off 900 workers, a quarter of its workforce, following the departure of top executives and a series of setbacks including an accident, permit suspension, and production halts. The layoffs raise concerns about Cruise's future and the autonomous vehicle sector. Despite this, the Global X Autonomous & Electric Vehicles ETF (DRIV) has risen 18% since September. GM has reportedly reduced funding for Cruise, which plans a cautious return to service starting in one city.

Portfolio Pulse from Neil Dennis

December 14, 2023 | 8:05 pm

TSLA

The Tesla Cybertruck's unique single windshield wiper has been a point of discussion, with a replacement cost of $165 for the arm and blade, and $75 for the blade alone. The Cybertruck, which has over a million reservations, will have three models with prices ranging from $60,990 to $99,990, and a special Foundation Series for $120,000. Tesla aims to produce 250,000 units annually by 2025.

Portfolio Pulse from Chris Katje

December 14, 2023 | 8:02 pm

CVX

Over the past 3 months, 12 Wall Street analysts have provided ratings for Chevron (NYSE:CVX) stock, with an average price target of $191.58, which is a 3.1% decrease from the previous target of $197.70. The current price of Chevron is $149.23, suggesting an implied upside. The ratings include 5 bullish, 3 somewhat bullish, and 4 indifferent, with no bearish or somewhat bearish ratings. Analysts typically update their ratings quarterly and base their predictions on various research methods.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 8:00 pm

VZ

Over the last three months, Verizon Communications (NYSE:VZ) has been rated by four analysts, with 2 bullish, 1 somewhat bullish, and 1 indifferent rating. The current average price target is $41.25, representing an implied upside from the current price of $37.9115. This target is a 6.25% decrease from the previous target of $44.00. Analysts typically review stocks quarterly and provide insights based on company performance, financial statements, and insider communications.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 8:00 pm

MUR

Over the past 3 months, 6 Wall Street analysts have published their opinions on Murphy Oil (NYSE:MUR), with 2 bullish, 1 somewhat bullish, and 3 indifferent ratings. The average 12-month price target for MUR is $52.0, with a high of $57.00 and a low of $45.00. This target has increased by 4.42% over the past month. Analysts predict stock performance by researching company financials, attending calls and meetings, and communicating with insiders.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 8:00 pm

RUN

Sunrun Inc (NASDAQ:RUN) stock surged 20.39% to $18.01 amid broader industrial sector gains following the Federal Reserve's decision to leave rates unchanged. The Fed's stance suggests rate cuts in 2024-2026, which benefits Sunrun as it relies on external financing for solar installations. Lower interest rates reduce financing costs and can improve profitability. Additionally, clean energy stocks like Sunrun may be positively influenced by commitments to move away from fossil fuels made at the COP28 climate summit.

Portfolio Pulse from Henry Khederian

December 14, 2023 | 7:52 pm

VZ

Citigroup analyst Michael Rollins has reaffirmed a Buy rating on Verizon Communications (NYSE:VZ) and increased the price target from $40 to $42.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 7:47 pm

CHPT

ChargePoint Holdings Inc (NASDAQ:CHPT) stock rose by 19.6% to $2.87 following the Federal Reserve's decision to leave interest rates unchanged, with projections of rate cuts in 2024-2026. The unchanged rates suggest lower borrowing costs, which could enable ChargePoint to raise capital more cheaply for expansion and technology development. The positive sentiment is also supported by the outcomes of the COP28 climate summit, which emphasized a shift from fossil fuels, benefiting clean energy companies like ChargePoint.

Portfolio Pulse from Henry Khederian

December 14, 2023 | 7:43 pm

NKE

RBC Capital Markets analyst Piral Dadhania has reiterated an Outperform rating on Nike, Inc. (NYSE:NKE) and raised the price target from $120 to $127. Nike's stock performance has improved over the last three months, driven by a valuation re-rating and less negative sentiment. The analyst believes the risk/reward profile for Nike's Q2 2024 results is more balanced, with expectations of revenue growth and gross margin acceleration in the second half of FY24. The Q2 results are expected to be supported by less negative retailer commentary and a resilient consumer base. The analyst forecasts Q2 revenues of $13.32 billion, a gross margin of 43.9%, EBIT of $1.57 billion, EPS of $0.83, and free cash flow of $1.6 billion. Inventories are expected to remain stable at around $8.6 billion. Nike shares are trading slightly higher.

Portfolio Pulse from Nabaparna Bhattacharya

December 14, 2023 | 7:34 pm