Streetbeat News

Stock Prices

CVX

A significant investor has taken a bearish stance on Chevron (NYSE:CVX), with 54% of investors opening trades with bearish expectations. The whales have been targeting a price range from $150.0 to $185.0 for Chevron over the last 3 months. The price of CVX is up 0.62% at $154.7. Citigroup, Raymond James, Mizuho, and Morgan Stanley have maintained their ratings on Chevron with price targets of $170, $200, $205, and $197 respectively.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

MRNA

A whale investor has taken a bearish stance on Moderna (NASDAQ:MRNA), with 80% of the spotted trades being bearish. The whales have been targeting a price range from $90.0 to $135.0 for Moderna over the last 3 months. HSBC has downgraded its action to Reduce with a price target of $97, while UBS upgraded its action to Buy with a price target of $191. Morgan Stanley has maintained their Equal-Weight rating on Moderna, with a price target of $128.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

ENPH

A significant amount of unusual options activity has been detected for Enphase Energy (NASDAQ:ENPH), with a bearish stance being taken by a majority of investors. Whales have been targeting a price range from $125.0 to $490.0 for Enphase Energy over the last 3 months. The company's stock price is currently up 0.75% at $185.43. Analysts from Barclays, Oppenheimer, Goldman Sachs, Truist Securities, and B. Riley Securities have provided their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

STZ

Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on Constellation Brands Inc (STZ) with a price target of $290. The company has entered into an information-sharing agreement with Elliott Investment Management L.P. and appointed two new independent directors. The analyst believes the collaboration with Elliott could accelerate the re-rating and increase the probability of a short-term bull-case for STZ. The agreement is seen as a step to improve governance and distance the company from its historical poor capital allocation.

Portfolio Pulse from Shivani Kumaresan

July 19, 2023 | 6:13 pm

ARBK

BRPHF

Argo Blockchain (NASDAQ:ARBK) has raised nearly $7.5 million through a new share sale, which will be used to reduce the company's existing debt. The shares sold represent about 12% of the company's market capitalization before the sale. The company managed to avoid bankruptcy by selling its Helios mining facility to Galaxy Digital for $65 million and securing a $35 million loan from Galaxy Digital Holdings Ltd (OTC:BRPHF).

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:13 pm

AMZN

GOOG

MSFT

QQQ

Amazon Inc's stock rose by nearly 2% on Wednesday, outperforming other mega-cap tech stocks like Alphabet Inc and Microsoft Corp, despite no specific company news and a general weakness in the tech sector. The Invesco QQQ Trust Series 1, which tracks 100 of the biggest NASDAQ-listed companies, was trading down slightly. Amazon's recent Prime Day event and a summer heat wave driving up sales of cooling products may have contributed to the stock's performance.

Portfolio Pulse from Aaron Bry

July 19, 2023 | 6:12 pm

SPLK

BMO Capital and Truist analysts have reiterated their Buy ratings on Splunk Inc (NASDAQ:SPLK), with price targets of $117.00 and $130.00 respectively. The analysts highlighted the improved integration of Splunk's observability solution and the launch of the Splunk AI assistant. Despite pricing frustrations, all companies renewed with Splunk. The company's multiple growth levers, operational efficiencies, and upcoming renewal conversations provide expansion opportunities.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 6:11 pm

BRK-A

SPY

TSLA

Tesla Inc's (NASDAQ:TSLA) shares have rebounded in 2023, adding almost $119 billion to CEO Elon Musk's wealth. This is more than the net worth of Berkshire Hathaway Inc's (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett, who is worth $116 billion. Tesla shares are up 174% year-to-date in 2023. Meanwhile, Berkshire Hathaway shares are up 11% in 2023, trailing Tesla and the SPDR S&P 500 ETF (NYSE:SPY), which is up 20% year-to-date in 2023.

Portfolio Pulse from Chris Katje

July 19, 2023 | 6:09 pm

HOOD

IAI

IBKR

LPLA

RJF

SCHW

Major US brokerage firms are experiencing a favorable market momentum due to a rally in US stocks and strong risk appetite among small investors. The iShares U.S. Broker-Dealer & Securities Exchange ETF (IAI) rose 3.6% on Tuesday. Charles Schwab Corp. (SCHW), Morgan Stanley's E*TRADE (MS), and Interactive Brokers Group, Inc. (IBKR) reported Q2 earnings with SCHW and MS beating expectations while IBKR missed. Raymond James Financial, Inc. (RJF), LPL Financial Holdings Inc. (LPLA), Tradeweb Markets Inc. (TW), and Robinhood Markets, Inc. (HOOD) are yet to report their Q2 earnings.

Portfolio Pulse from Piero Cingari

July 19, 2023 | 6:09 pm

STBA

S&T Bancorp (NASDAQ:STBA) is set to release its quarterly earnings report on July 20, 2023. Analysts estimate an EPS of $0.89. The company's past performance shows a pattern of beating EPS estimates, but this has sometimes been followed by a drop in share price. The stock is currently trading at $30.25, up 4.72% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:02 pm