Streetbeat News

Stock Prices

SBUX

A 'whale' investor has taken a bullish stance on Starbucks (NASDAQ:SBUX), with 54% of investors opening trades with bullish expectations and 45% with bearish. The whale has been targeting a price range from $70.0 to $100.0 for Starbucks over the last 3 months. The price of SBUX is currently down -1.7% at $93.55. TD Cowen has downgraded its action to Market Perform with a price target of $107.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:46 pm

GOOG

GOOGL

Alphabet Inc's shares are trading lower due to overall market weakness, concerns about future rate hikes following the FOMC statement, and lower-than-expected initial jobless claims data. Economic concerns can impact Alphabet's ad revenue growth, a key metric for investors. Rising interest rates can increase the company's borrowing costs, affecting its interest expenses and potentially leading to lower profitability.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 7:42 pm

MELI

MercadoLibre, Inc. (NASDAQ:MELI) announced a convertible note redemption, which will save the company approximately $44 million in interest expense. The company's shares are trading lower following the announcement.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 7:40 pm

SPRY

The FDA has issued a Complete Response Letter regarding ARS Pharmaceuticals Inc's New Drug Application for neffy, an EpiPen alternative. This has delayed the approval and launch of neffy in the U.S. Wedbush analysts remain bullish on the stock, but have cut the price target from $15 to $5. William Blair downgraded the stock to a Market Perform rating due to extended timelines and heightened risk.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 7:38 pm

GOOGL

Alphabet (NASDAQ:GOOGL) has outperformed the market over the past 15 years, producing an average annual return of 18.11%. If an investor had bought $1000 of GOOGL stock 15 years ago, it would be worth $11,905.25 today.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 7:31 pm

MSFT

NVDA

Microsoft's game Starfield has reached over 10 million players in less than three weeks, marking Bethesda's biggest launch ever. The game was available on PC and Xbox Series X and S, and also on Game Pass. It was the best-selling game in Europe during its launch week and the fastest-selling new IP of the year. Nvidia released an update to improve the performance of Starfield on RTX 30 and 40-series graphics cards.

Portfolio Pulse from Franca Quarneti

September 21, 2023 | 7:29 pm

XOM

RBC Capital Markets analyst Biraj Borkhataria reiterated a Sector Perform rating on Exxon Mobil Corporation (NYSE:XOM) with a price target of $120. The analyst noted that Exxon's investments in refining capacity are starting to yield results and could drive $10 billion in earnings growth by 2027. However, the analyst believes that some of the growth potential is already reflected in the current share price and sees better value elsewhere in the sector.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 7:23 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 2.6% amid overall market weakness and a rise in Treasury yields following the FOMC statement. The company, like many EV companies, requires substantial capital for growth initiatives, and rising interest rates could increase borrowing costs, potentially impacting its ability to fund these initiatives. Investors are concerned about higher capital costs affecting Rivian's financial health and growth prospects.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 7:15 pm

QSG

QuantaSing Group Limited's (NASDAQ:QSG) shares have been trading lower since its Q4 earnings report last week, with a 63% drop over the past five days. The company also announced the acquisition of Kelly's Education, an online language education platform. Noble Capital Markets initiated coverage on QuantaSing with an Outperform rating and a price target of $10.

Portfolio Pulse from Ryan Gustafson

September 21, 2023 | 7:03 pm

DRI

Darden Restaurants Inc (NYSE:DRI) reported earnings before Thursday's market open, slightly beating EPS and revenue estimates. However, the company saw weaker growth in the fine dining sector compared to the more casual restaurants it owns. Darden's fine-dining sector saw growth of less than 3%, indicating that high-earning spenders could be cutting back. Darden’s stock was trading 1.08% lower at $147.84 at the time of publication Thursday.

Portfolio Pulse from Aaron Bry

September 21, 2023 | 7:02 pm