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Stock Prices

PARA

Wells Fargo analyst Steven Cahall has upgraded Paramount Global (NASDAQ:PARA) from Underweight to Equal-Weight and increased the price target from $15 to $18.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 10:22 am

ACN

FDS

GIS

WGO

The Dow Jones continued its upward trend, closing higher for the ninth consecutive day, while the Nasdaq Composite surpassed the 15,000 mark for the first time since January 2022. The S&P 500 sectors all ended positively, with energy, communication services, and materials leading the gains. Accenture Plc reported strong Q1 earnings but a weak sales forecast, causing its shares to drop. FactSet Research Systems also saw a decline in shares after its Q1 earnings report. Investors are looking forward to earnings from Micron Technology, Winnebago Industries, and General Mills. The CNN Money Fear and Greed index indicates 'Extreme Greed' in the market.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 10:21 am

CCO

Wells Fargo analyst Steven Cahall has upgraded Clear Channel Outdoor (NYSE:CCO) from Equal-Weight to Overweight and increased the price target from $1.50 to $2.75.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 10:20 am

VRCA

Perceptive Advisors, a 10%+ owner of Verrica Pharmaceuticals, has reported the purchase of 1,233,931 shares at an average price of $5.63 per share, according to a Form 4 filing on Tuesday.

Portfolio Pulse from Charles Gross

December 20, 2023 | 10:20 am

FDX

GIS

SCS

TTC

General Mills is expected to report earnings of $1.16 per share on revenue of $5.35 billion. FedEx reported weaker-than-expected Q2 earnings and lowered its full-year revenue outlook, causing its shares to drop 9.8%. The Toro Company is anticipated to earn 56 cents per share with revenue of $973.65 million. Steelcase posted higher earnings but missed sales estimates and expects Q4 adjusted earnings of 19-23 cents per share on revenue of $765-790 million, leading to a 7.9% share price drop. Micron Technology is expected to report a quarterly loss of 97 cents per share on revenue of $4.64 billion.

Portfolio Pulse from Avi Kapoor

December 20, 2023 | 10:00 am

STLA

TSLA

VGK

The European Automobile Manufacturers' Association (ACEA) reported a 6.7% increase in new car registrations in Europe for November. Battery electric vehicles (BEVs) reached a market share of 16.3%. This data may reflect the performance of car manufacturers such as Ford (F), Stellantis (STLA), Toyota (TM), and Tesla (TSLA), as well as the broader European market tracked by ETFs like VGK.

Portfolio Pulse from Charles Gross

December 20, 2023 | 9:52 am

FSR

NKLA

RMO

TSLA

VLTA

A Wall Street Journal analysis predicts that 18 EV and battery startups, including Nikola Corp. (NKLA) and Fisker Inc. (FSR), may run out of cash by the end of 2024. These companies have seen over 80% declines in their stock prices since their market debuts. Lordstown Motors, Proterra, and Electric Last Mile Solutions have filed for bankruptcy, while Romeo Power (RMO) and Volta (VLTA) were sold at lower valuations. Tesla Inc. (TSLA) is increasing pressure on these startups with price reductions.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 9:51 am

LOW

Stifel analyst W. Andrew Carter has downgraded Lowe's Companies (NYSE:LOW) from Buy to Hold while increasing the price target from $235 to $240.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:39 am

MGNX

Citigroup analyst Yigal Nochomovitz has upgraded Macrogenics (NASDAQ:MGNX) from Neutral to Buy and increased the price target from $7 to $13.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:20 am

TSLA

Gary Black, co-founder of Future Fund, anticipates changes to Tesla's U.S. price matrix for Model Y and Model 3 vehicles in response to the removal of EV credits. He predicts price increases for Model Y and decreases for Model 3 to maintain revenue neutrality and align with Tesla's historical pricing strategy. This comes as Tesla faces challenges with EV adoption due to economic conditions and consumer perceptions of high costs. Tesla's stock price has been affected by previous price cuts impacting margins.

Portfolio Pulse from Shanthi Rexaline

December 20, 2023 | 9:08 am