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Stock Prices

LCII

Truist Securities analyst Michael Swartz has downgraded LCI Industries (NYSE:LCII) from Buy to Hold and reduced the price target from $140 to $110.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:53 pm

PFE

Amit Dagar, a former Pfizer Inc (NYSE:PFE) employee, was found guilty of securities fraud for insider trading on Paxlovid trial news. He purchased stock options before the trial results were announced and tipped off a friend. Pfizer had previously cut its earnings and revenue guidance due to reduced demand for COVID-19 products. The FDA has approved Paxlovid under emergency use, and Pfizer is considering raising its price. PFE shares saw a slight decrease in premarket trading.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 12:43 pm

Ford has increased its workforce with a third crew to meet the growing demand for its Bronco and Ranger models. Conversely, the company has reduced production of the F-150 Lightning due to adjustments in manufacturing. This change could affect a few dozen employees at component plants that support the production of the F-150 Lightning.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:40 pm

FPH

Shares of Five Point Holdings LLC (NYSE:FPH) surged after reporting strong Q4 FY23 results with revenues of $118.8 million, up from $17.0 million a year prior, primarily due to significant land sales. The company sold land for 583 homesites and closed two commercial land sales for a total of $276 million. Equity in earnings from unconsolidated entities was $24.0 million, and EPS increased to $0.39 from $0.15. The company has $353.8 million in cash and an additional $125.0 million in credit facility availability. CEO Dan Hedigan highlighted the team's focus on revenue generation and capital management despite economic challenges, and expressed optimism about the housing market due to supply shortages.

Portfolio Pulse from Lekha Gupta

January 19, 2024 | 12:39 pm

CCI

CHGG

COIN

DFS

DKNG

HTZ

OKE

OLED

SILK

TXN

Wall Street analysts have updated their price targets and ratings for several US-listed companies. ONEOK, Silk Road Medical, Texas Instruments, DraftKings, Universal Display, Hertz Global Holdings, Discover Financial Services, Coinbase Global, and Crown Castle received new price targets. Texas Instruments is expected to rally around 17%, with UBS raising its price target from $170 to $195 and upgrading the stock from Neutral to Buy. Other companies saw a mix of upgrades, downgrades, and neutral ratings with corresponding adjustments to their price targets.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 12:36 pm

STT

State Street Corporation (NYSE:STT) reported Q4 adjusted earnings per share (EPS) of $2.04, surpassing the analyst consensus estimate of $1.83 by 11.48%. However, this represents a 1.45% decrease from the $2.07 EPS reported in the same quarter last year. Quarterly sales reached $3.04 billion, exceeding expectations of $2.95 billion by 3.15%, but marking a 3.55% decline from the $3.15 billion reported in the previous year's comparable quarter.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:35 pm

WRLD

World Acceptance Corporation (NASDAQ:WRLD) reported Q3 earnings of $2.84 per share, surpassing the $1.88 estimate by 51.06%, and representing a 186.87% increase from the previous year. Sales reached $137.75M, exceeding estimates by 5.49% but showing a 5.97% decrease from the prior year.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:34 pm

ADBE

AMZN

IRBT

IRobot Corp's stock is plummeting after reports that the EU may block its merger with Amazon. The European Commission's decision is expected by February 14, with concerns over reduced competition in the robotic vacuum cleaner market. Amazon had revised its offer for iRobot to approximately $1.42 billion, a 15% reduction from the initial $1.7 billion due to iRobot's increased debt. The UK's CMA approved the deal in June 2023. iRobot's stock has dropped 52% in the last six months, while Amazon's has risen over 13%. In a similar situation, Adobe Inc and Figma called off their merger due to regulatory hurdles.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 12:32 pm

IBM

Evercore ISI Group analyst Amit Daryanani has upgraded IBM from In-Line to Outperform and increased the price target from $165 to $200.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 12:30 pm

CMC

DBX

WBA

WSM

Insiders at Williams-Sonoma, Commercial Metals, Dropbox, and Walgreens Boots Alliance have recently sold shares of their companies. Williams-Sonoma CEO sold 20,000 shares after an analyst upgrade and price target increase. Commercial Metals' Executive Chairman sold 142,806 shares following an announcement of a share repurchase program increase. Dropbox's Chief Legal Officer and CFO sold shares as the company launched a new AI-powered search feature. Walgreens Boots Alliance's Director sold 15,209 shares after reporting a sales increase that beat consensus.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 12:28 pm