Streetbeat News

Stock Prices

AFRM

Affirm Holdings (NYSE:AFRM) has seen a decrease in short interest, with the short percent of float dropping 7.04% since the last report. The company has 39.23 million shares sold short, which is 20.99% of available shares for trading. Compared to the peer group average of 4.93% for short interest as a percentage of float, Affirm Holdings has a higher short interest, indicating more bearish sentiment among investors. However, a decrease in short interest may suggest a shift towards a more bullish sentiment.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 4:00 pm

KLAC

Over the past three months, 6 analysts have provided diverse opinions on KLA (NASDAQ:KLAC), with recent ratings showing a positive shift in sentiment. The average 12-month price target has increased by 15.42% to $588.33. Analysts from firms like Raymond James, Stifel, Barclays, New Street Research, Redburn Atlantic, and Morgan Stanley have updated their ratings and price targets, reflecting changes in market conditions and KLA's performance. KLA is a major player in semiconductor process control with a strong market position, but it has experienced a revenue decline of -12.02% as of September 30, 2023. Despite this, KLA maintains a high net margin of 30.93% and an exceptional ROE of 25.09%, though it faces challenges with a high debt-to-equity ratio of 2.03.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 4:00 pm

TCN

Tricon Residential's stock is trading higher following the announcement of an arrangement agreement for its acquisition by Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, who will purchase all outstanding common shares.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 4:00 pm

QQQ

SPY

TLT

U.S. consumer sentiment in January 2024 reached its highest level since July 2021, with the University of Michigan's index surging to 78.8. The report also noted a decrease in consumer inflation expectations. However, existing home sales fell by 1.0% in December 2023, hitting an annualized rate of 3.78 million units, the lowest since August 2010. In response, major U.S. stock averages rose slightly, with SPDR S&P 500 ETF Trust (SPY) up 0.3%, and Invesco QQQ Trust (QQQ) up 0.7%. U.S. Treasury yields increased, while the iShares 20+ Year Treasury Bond ETF (TLT) fell 0.3%.

Portfolio Pulse from Piero Cingari

January 19, 2024 | 3:57 pm

AXDX

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) stock plummeted 38% to $1.00 after announcing the pricing of an underwritten public offering of 6,860,659 units at $1.50 each. Each unit includes a share of common stock and a warrant. The offering includes an option for underwriters to purchase additional shares and/or warrants, with warrants exercisable at $1.65 and pre-funded warrants at $0.01, both valid for five years. The expected gross proceeds are $10.3 million. Additionally, a private placement to the Jack W. Schuler Living Trust will potentially bring in $4.7 million. The public offering is expected to close around January 23, with William Blair & Company as the sole book-running manager and Craig-Hallum Capital Group LLC as the co-manager. AXDX's 52-week trading range is between $0.95 and $11.90.

Portfolio Pulse from Henry Khederian

January 19, 2024 | 3:57 pm

META

NVDA

Meta Platforms, Inc. (META) is trending on social media after CEO Mark Zuckerberg announced plans to acquire approximately 350,000 H100 GPUs from Nvidia Corporation (NVDA) to advance AI goals. The investment is aimed at building general intelligence and open sourcing it. Meta is also set to release Q4 and full year 2023 financial results on Feb. 1, with expected earnings of $4.97 per share and revenue of $39.029 billion. Meta's stock is up 1.1% at $380.25.

Portfolio Pulse from Erica Kollmann

January 19, 2024 | 3:56 pm

CISS

C3is Ord Shs (NASDAQ:CISS) shares plummeted by 68% to $0.12 after the company announced an upsized public offering from $6.0 million to approximately $7.0 million, involving 28,000,000 Common Units or Pre-funded Units. The offering includes Common Shares or Pre-Funded Warrants, Class B-1 Warrants, and Class B-2 Warrants, with purchase prices of $0.25 for Common Units and $0.24 for Pre-Funded Units. The proceeds are intended for capital expenditures and potential vessel acquisitions, specifically contributing to the purchase of an Aframax tanker. The offering is expected to close on January 23.

Portfolio Pulse from Henry Khederian

January 19, 2024 | 3:54 pm

QRVO

Raymond James analyst Srini Pajjuri has reaffirmed an Outperform rating on Qorvo (NASDAQ:QRVO) and increased the price target from $105 to $115, signaling confidence in the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:50 pm

HBAN

Huntington Bancshares Incorporated (NASDAQ:HBAN) reported Q4 revenues of $1.72 billion, below the expected $1.77 billion. Net interest income and noninterest income both declined year over year, but average total deposits and loans increased. The company's credit loss allowance and capital ratios improved. Adjusted EPS met expectations at $0.27. CEO Steve Steinour expressed optimism for 2024, citing attractive growth opportunities. HBAN shares rose 1.67% to $12.44.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 3:50 pm

NVDA

Raymond James analyst Srini Pajjuri has reaffirmed a Strong Buy rating on NVIDIA Corporation (NASDAQ:NVDA) and increased the price target from $600 to $700.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:49 pm