Streetbeat News

Stock Prices

VLY

Shares of Valley National Bancorp (NASDAQ:VLY) fell by 4.53% after S&P Global Ratings downgraded its credit rating. The downgrade could lead to higher borrowing costs for the bank, negatively impacting its profitability and financial performance. The Federal Reserve's tight monetary policy is straining the funding, liquidity, and revenue of many U.S. banks, according to S&P.

Portfolio Pulse from Henry Khederian

August 22, 2023 | 5:21 pm

AMC

AMC Entertainment is planning a 10-to-1 reverse stock split that will take effect on Thursday. The company's Preferred Equity Units will be converted to common stock the following day.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 5:18 pm

LMT

A significant investor has taken a bullish stance on Lockheed Martin (NYSE:LMT), with 66% of the investors opening trades with bullish expectations and 33% with bearish. The whales have been targeting a price range from $320.0 to $490.0 for Lockheed Martin over the last 3 months. The current price of LMT is $451.46, with the stock being neutral between overbought and oversold.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 5:17 pm

PLTR

A significant bearish stance has been taken on Palantir Technologies (NYSE:PLTR) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is 18% bullish and 81% bearish. The whales have been targeting a price range from $10.0 to $27.0 for Palantir over the last 3 months. The current price of PLTR is up 1.98% at $14.79. Analysts have mixed ratings on the stock, with price targets ranging from $7 to $25.

Portfolio Pulse from Benzinga Insights

August 22, 2023 | 5:17 pm

BUD

STZ

Bud Light, a product of Anheuser-Busch InBev (BUD), has been dethroned as the nation's best-selling beer by Modelo, a product of Constellation Brands (STZ), following a fiasco involving Dylan Mulvaney.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 5:11 pm

FOX

FOXA

RUM

A recent Morning Consult poll shows President Biden leading against both Donald Trump and Florida Governor Ron DeSantis in hypothetical 2024 election matchups. Biden's lead over DeSantis has grown as DeSantis' support among Republican voters has dropped. Trump, despite being indicted four times in 2023, continues to dominate the GOP field. The first Republican primary debate will be aired on Fox News and livestreamed on Rumble Inc, with Trump sitting out.

Portfolio Pulse from Chris Katje

August 22, 2023 | 5:09 pm

CRM

MSFT

ZM

Zoom Video Communications (NASDAQ:ZM) exceeded Q2 estimates and raised its full-year outlook, causing its shares to rise 8%. However, shares fell 6% as Wall Street compared the figures to rival Microsoft Corporation (NASDAQ:MSFT). Zoom's Q2 revenue increased 3.6% YoY to $1.14 billion, with enterprise revenue making up 58% of total revenue. Net income expanded to $182 million. Zoom's Q3 outlook expects adjusted earnings per share between $1.07 and $1.09 and revenue between $1.115 billion and $1.120 billion. Zoom also invested in AI startup Anthropic to compete with Microsoft Teams.

Portfolio Pulse from Upwallstreet

August 22, 2023 | 5:08 pm

NVDA

SWKS

Skyworks shares are trading lower due to volatility in the semiconductor sector ahead of NVIDIA's upcoming earnings report.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 5:08 pm

PACW

PacWest Bancorp's shares are trading lower due to a general weakness in the financial sector following S&P's downgrade of multiple US banks.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 5:07 pm

ROVR

The article mentions ROVR in an investment blog post. No further details are provided.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 5:07 pm