Streetbeat News

Stock Prices

TWKS

RBC Capital analyst Daniel Perlin has downgraded Thoughtworks Holding (NASDAQ:TWKS) from Outperform to Sector Perform and lowered the price target from $10 to $6.

Portfolio Pulse from richadhand@benzinga.com

August 09, 2023 | 9:04 am

EQNR

RBC Capital analyst Biraj Borkhataria has upgraded Equinor (NYSE:EQNR) from Sector Perform to Outperform.

Portfolio Pulse from richadhand@benzinga.com

August 09, 2023 | 9:02 am

RIVN

Rivian Automotive (NASDAQ:RIVN) plans to increase production of its R1S model to address a long backlog and customer complaints about wait times. The company will produce 70% R1S and 30% R1T models in the coming quarters. Rivian produced 13,992 vehicles in Q2, with 70% being R1S models. The company expects to produce 52,000 total units in 2023. Rivian's shares closed up 2.1% on Tuesday at $24.8 and rose 1.7% in Wednesday’s pre-market.

Portfolio Pulse from Anan Ashraf

August 09, 2023 | 8:36 am

CRL

DIS

LYFT

UPST

WYNN

Charles River Laboratories (CRL), Upstart Holdings (UPST), The Walt Disney Company (DIS), Lyft (LYFT), and Wynn Resorts (WYNN) are stocks to watch. CRL is expected to post earnings of $2.64 per share on revenue of $1.05 billion. UPST reported better-than-expected Q2 results but issued a weak Q3 revenue forecast. DIS is expected to have earned 97 cents per share on revenue of $22.48 billion. LYFT reported better-than-expected Q2 sales and issued a strong Q3 forecast. WYNN is expected to report earnings of 59 cents per share on revenue of $1.54 billion.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 8:10 am

MCHI

China's annual consumer price inflation turned negative for the first time since February 2021, with a 0.3% year-over-year decline in July. The producer price index also showed a 4.4% year-over-year contraction in July. This data confirms economic deflation and complicates monetary policy. The iShares MSCI China ETF (NASDAQ:MCHI) ended Tuesday’s session at $46.73, down 1.60%.

Portfolio Pulse from Shanthi Rexaline

August 09, 2023 | 7:49 am

WEN

The Wendy's Company (NASDAQ:WEN) is expected to report higher Q2 2023 earnings of 27 cents per share, up from 24 cents per share in the previous year. The company's revenue is projected to be $566.95 million, up from $537.78 million in the year-ago period. Wendy's shares fell 0.5% to close at $21.73 on Tuesday. Several analysts have recently adjusted their price targets for the company, with ratings ranging from Neutral to Overweight.

Portfolio Pulse from Lisa Levin

August 09, 2023 | 7:37 am

ASX

ASE Technology's net revenues for July 2023 have declined by 20% YoY to $1.56B, although they have increased sequentially by 2.6%. The company's ATM revenue fell by 22.8% YoY.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 7:30 am

SAM

Jim Koch, co-founder of Boston Beer Company (NASDAQ:SAM), uses an unconventional investment strategy managed by his former babysitter. The strategy involves randomly selecting a stock to buy every two weeks, with the aim of wealth protection and risk diversification rather than accumulation. Koch claims this approach has outperformed many active portfolios.

Portfolio Pulse from Benzinga Neuro

August 09, 2023 | 7:28 am

DOGEUSD

SHIBUSD

Shiba Inu (SHIB) surged by 7% in the last 24 hours, outperforming Dogecoin (DOGE), as the launch of Shibarium, a layer-2 solution, nears. The SHIB team confirmed its participation in the upcoming Blockchain Futurist Conference. The network operates by 'burning' SHIB tokens, reducing their supply and creating scarcity. In the last 24 hours, $55 million worth of SHIB tokens have been burned. A prominent investor has acquired $40 million worth of SHIB tokens.

Portfolio Pulse from Mehab Qureshi

August 09, 2023 | 7:07 am

GM

TSLA

General Motors (GM) plans to equip all its electric vehicles with the ability to serve as backup power during electricity blackouts. The technology will debut in vehicles this year and by 2026, all GM electric vehicles will feature this vehicle-to-home technology. This move intensifies GM's rivalry with Tesla (TSLA), which currently lacks this capability in its vehicles.

Portfolio Pulse from Benzinga Neuro

August 09, 2023 | 7:03 am