Streetbeat News

Stock Prices

TGT

Target Corporation (TGT) has announced the closure of nine stores across the US due to increasing levels of theft and organized retail crime. The stores are located in New York City, Seattle, San Francisco, and Portland. The company has been vocal about the issue of organized retail crime, which has led to higher shrink levels, impacting profitability. The closures are set to take place on October 21, 2023. The company also expressed support for the Combating Organized Retail Crime Act, which proposes stricter penalties for theft offenses.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 7:08 pm

NKLA

Nikola Corporation's shares are trading higher following a recent pullback in price. The stock has had an active month, reaching a three-month low in mid-September before rising again. The appointment of a new COO, Mary Chan, pushed shares to a high of $1.59 last Monday before they pulled back. Over the past week, shares of Nikola have risen over 10%. Other noteworthy events include the appointment of Joseph S. Cappello as president of Nikola Energy, and the agreement with ITD Industries, Inc. to become the first dealer for Nikola Class 8 EV trucks in Canada.

Portfolio Pulse from Ryan Gustafson

September 26, 2023 | 7:07 pm

MKGAF

MKKGY

RGEN

Repligen Corporation (RGEN) has agreed to acquire Sweden-based Metenova, a move that is expected to expand Repligen's market reach and enhance its capabilities in fluid management. The acquisition is projected to contribute significantly to Repligen's revenues and margins from 2023 onwards. The deal is also expected to give Repligen a competitive edge against rivals like Merck KGaA (MKGAF, MKKGY).

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:07 pm

PDD

PDD Holdings Inc's shares are trading lower due to concerns over China's property sector, particularly the issues surrounding China Evergrande. The potential economic slowdown in China could decrease consumer spending, negatively impacting PDD's e-commerce platform. Additionally, disruptions in supply chains and logistics could increase operational challenges for PDD.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:04 pm

MA

A significant number of bearish trades have been observed in Mastercard's options, with 55% of investors taking a bearish stance. The targeted price range for Mastercard over the last 3 months is $370.0 to $480.0. The current price of Mastercard is down by 1.67% at $395.76. Jefferies and Truist Securities maintain a Buy rating on Mastercard with a price target of $475, while Mizuho downgraded its action to Buy with a price target of $435.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 7:01 pm

SPY

Net worth of individuals has increased since the COVID-19 pandemic, largely due to stock market gains and property value increases. The top 1% saw the highest net worth increase of 22%. Household wealth hit record highs of $154.28 trillion last quarter, driven by a stock market rally and rebounding property values. The SPDR S&P 500 ETF Trust (NYSE:SPY) was up more than 12% since the start of the year, but has trended lower in recent months.

Portfolio Pulse from Adam Eckert

September 26, 2023 | 7:01 pm

EW

Edwards Lifesciences Corp (NYSE:EW) is under scrutiny by the European Commission for potential market power abuse. Despite this, the company has reiterated its commitment to fair competition. Amid the investigation, Oppenheimer has upgraded Edwards Lifesciences' stock to Outperform from Perform with a price target of $90, citing an attractive risk-reward profile. The company has a significant opportunity in the Transcatheter Tricuspid Valve Replacement (TTVR) sector, with its product EVOQUE expected to obtain regulatory approvals by the end of 2024.

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:00 pm

RCEL

AVITA Medical (NASDAQ:RCEL) has received positive analyst ratings in the last quarter, with 2 bullish and 3 somewhat bullish ratings. The average 12-month price target for the company, according to 5 analysts, is $28.4, which has increased by 28.1% over the past month.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 7:00 pm

OI

Four analysts have provided ratings for O-I Glass (NYSE:OI) in the last quarter, with an average price target of $28.0, implying an upside from the current price of $17.025. The current average has decreased by 2.34% from the previous average price target of $28.67.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 7:00 pm

PLRX

Pliant Therapeutics Inc (NASDAQ:PLRX) announced positive data from the INTEGRIS-PSC Phase 2a trial of bexotegrast in patients with primary sclerosing cholangitis (PSC) and suspected moderate to severe liver fibrosis. The trial met its primary and secondary endpoints, demonstrating that bexotegrast was well tolerated and its plasma concentrations increased with dose. The trial's exploratory efficacy endpoints showed bexotegrast reduced both ELF scores and PRO-C3 levels at Week 12 at all doses relative to placebo. PLRX shares were up 13.10% at $16.48 on the last check Tuesday.

Portfolio Pulse from Vandana Singh

September 26, 2023 | 6:56 pm