Streetbeat News

Stock Prices

ELF

Raymond James analyst Olivia Tong has reaffirmed a Strong Buy rating on e.l.f. Beauty (NYSE:ELF) and increased the price target from $140 to $180. This adjustment reflects a positive outlook on the company's stock, suggesting potential upside from its current trading levels.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:31 am

BRO

HIFS

NXU

UAL

ZION

Investors are looking at several stocks as U.S. futures trade higher. United Airlines (UAL) is expected to report earnings of $1.70 per share on $13.54 billion revenue. Nxu, Inc. (NXU) filed for a Class A common shares offering, causing a slight drop in after-hours trading. Brown & Brown (BRO) is anticipated to report earnings of 53 cents per share on $985.48 million revenue. Hingham Institution for Savings (HIFS) reported a decrease in core net income for Q4. Zions Bancorporation (ZION) is expected to post earnings of 99 cents per share on $756.61 million revenue.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 8:55 am

BRO

IRBT

STT

UAL

ZION

The S&P 500 reached an all-time high as investor sentiment improved, with the CNN Money Fear and Greed index indicating 'Greed'. iRobot Corporation's stock plummeted following reports of the EU planning to block its acquisition by Amazon. State Street Corporation's shares rose after reporting strong Q4 earnings. U.S. existing-home sales dropped to their lowest since Aug. 2010, while consumer sentiment reached its highest since July 2021. The Dow Jones and Nasdaq also closed higher. Upcoming earnings include United Airlines, Brown & Brown, and Zions Bancorporation.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 8:34 am

BTCUSD

DOGEUSD

XRPUSD

At the World Economic Forum in Davos, a panel called for more precise crypto regulation and questioned the utility of meme coins like Dogecoin. Ripple CEO Brad Garlinghouse expressed skepticism about Dogecoin's utility, while Dogecoin co-founder Shibetoshi Nakamoto defended it, comparing its fundamentals to Bitcoin. Dogecoin's price surged by 10% after the introduction of a specialized payment account, despite trading down 1.12% at the time of writing.

Portfolio Pulse from Mehab Qureshi

January 22, 2024 | 7:46 am

AAPL

Tech analyst Ming-Chi Kuo reported that Apple Inc.'s (AAPL) new Vision Pro headset sold 160,000 to 180,000 units in its first pre-order weekend. Despite the initial sell-out, Kuo warns of a potential demand dip as shipping times remained unchanged 48 hours after pre-orders opened. He contrasts this with popular iPhone models, which usually see shipping times increase as demand grows post-launch. Kuo suggests monitoring demand in other markets and application updates to assess changes. The Vision Pro is priced at $3,499 and is set to launch on Feb. 2. Kuo's previous estimates for 2024 shipments are 400,000–600,000 units, below market expectations of over 1 million units.

Portfolio Pulse from Ananya Gairola

January 22, 2024 | 7:11 am

BTCUSD

The pool of U.S. presidential candidates supportive of cryptocurrency has diminished with the withdrawal of Vivek Ramaswamy and Ron DeSantis from the race. This leaves Dean Phillips and Robert F. Kennedy Jr. as the remaining pro-crypto candidates. Donald Trump, who has previously criticized cryptocurrencies, has recently opposed central bank digital currencies (CBDCs) and launched a series of NFTs with Bitcoin Ordinals. Bitcoin's price is currently at $41,133, down 1.12%.

Portfolio Pulse from Mehab Qureshi

January 22, 2024 | 7:10 am

NVDA

Nvidia CEO Jensen Huang visited China for the first time in four years amid growing U.S.-China tech rivalry. Huang's visit included stops at Nvidia's offices in Shenzhen, Shanghai, and Beijing, with his presence confirmed by an Nvidia representative. The purpose of the visit is not clear, but it coincides with concerns over U.S. sanctions on AI chip exports to China and the potential for Chinese firms to develop competing technology. Nvidia's stock has seen significant growth, with a 246% increase in 2023 and an additional 20% rise this year, reflecting investor confidence in its AI technology leadership.

Portfolio Pulse from Ananya Gairola

January 22, 2024 | 7:06 am

ZION

Zions Bancorporation (NASDAQ:ZION) is set to release its Q4 earnings after the market closes on January 22, 2023. Analysts predict a decrease in earnings per share to 99 cents from $1.84 in the previous year and a revenue drop to $756.61 million from $873 million. The stock closed up 2.7% at $41.62 on Friday. Recent analyst ratings have seen downgrades with price targets ranging from $36 to $46, reflecting a cautious outlook on the stock.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 7:05 am

CHRS

Coherus BioSciences, Inc. (NASDAQ:CHRS) has agreed to sell its CIMERLI ophthalmology franchise to Sandoz for $170 million in cash, plus additional amounts for product inventory and working capital adjustments. The deal includes the CIMERLI biologics license application, sales and reimbursement teams, product inventory, and commercial software.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:44 am

AAPL

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and Tesla investor, expressed doubts about Tesla (TSLA) selling more Cybertrucks in 2024 than Apple (AAPL) selling Vision Pro headsets. Gerber had a bet that Tesla would outperform Apple in sales, but the immediate sell-out of Vision Pro pre-orders made him reconsider. Despite the Cybertruck having 2 million preorders, production challenges may delay its delivery target. Meanwhile, analyst Ming-Chi Kuo believes Apple can easily ship 500,000 Vision Pro units this year. Both products are highly demanded, but belong to different market segments.

Portfolio Pulse from Anan Ashraf

January 22, 2024 | 6:23 am