Streetbeat News

Stock Prices

CVX

OXY

USO

XOM

Major energy stocks were mixed in premarket trading as crude oil prices remained flat. Concerns over slowing demand from China and the pace of global economic recovery are influencing oil prices. Exxon Mobil Corp. (XOM) edged up 0.13%, Chevron Corp. (CVX) edged down 0.20%, Occidental Petroleum Corp. (OXY) remained largely unchanged, and the United States Oil Fund, LP (USO) slipped 0.12%.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 9:50 am

ARMK

UBS analyst Joshua Chan has upgraded Aramark (NYSE:ARMK) from Neutral to Buy and announced a $43 price target.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:48 am

AMD

NVDA

TSLA

Nvidia Corp. (NASDAQ:NVDA) shares surged over 8% on Monday, ahead of its Q2 results, due to positive analysts' commentaries. The short interest in Nvidia stock at the end of July was 26,400,064, down from 31,396,008 by July 14. The short interest percentage is 1.11%, lower than Tesla, Inc.'s (NASDAQ:TSLA) 2.83% and Advanced Micro Devices, Inc.’s (NASDAQ:AMD) 1.57%. If Nvidia's Q2 results align with analysts' expectations, it could lead to a short-squeeze and a further rise in the stock.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 9:43 am

UUP

The New Development Bank (NDB), established by the BRICS nations, plans to issue loans in South African rand and Brazilian real, aiming to reduce reliance on the U.S. dollar. This move aligns with the BRICS nations' objective to offer alternatives to the dollar in international trade and finance. The announcement comes after China's call for emerging economies to challenge the dominance of Western G7 nations. Following the news, the U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), fell by 0.11%.

Portfolio Pulse from Ramakrishnan M

August 22, 2023 | 9:42 am

S

Cybersecurity firm SentinelOne Inc (NYSE:S) is reportedly exploring a potential sale after its shares lost 80% of their value in the last two years. The company has hired investment bank Qatalyst Partners for advice on discussions with potential buyers. However, initial expressions of interest did not meet SentinelOne's valuation expectations, and the company may end the talks without a deal. SentinelOne recently reported Q1 FY24 revenue of $133.4 million, missing estimates, and cut its FY24 guidance for annual revenue growth.

Portfolio Pulse from Lekha Gupta

August 22, 2023 | 9:40 am

IQ

IQIYI, Inc reported positive second-quarter results, leading to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 9:40 am

BIDU

Baidu, Inc reported positive second-quarter results and provided updates on AI opportunities, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 9:34 am

G

JP Morgan analyst Tien-Tsin Huang has downgraded Genpact (NYSE:G) from Neutral to Underweight and set a price target of $40.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:25 am

CELL

Berenberg analyst Gaurav Goparaju has downgraded PhenomeX (NASDAQ:CELL) from Buy to Hold and lowered the price target from $8 to $1.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:19 am

EVR

Goldman Sachs analyst James Yaro has downgraded Evercore (NYSE:EVR) from Buy to Neutral and lowered the price target from $158 to $140.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 9:17 am