Streetbeat News

Stock Prices

AAPL

INTC

NVDA

QCOM

TSM

Nvidia Corp (NVDA) stock is trading higher as U.S. chipmaker executives, including those from Intel Corp (INTC) and Qualcomm Inc (QCOM), met with top Biden administration officials to discuss a softer China policy. Nvidia has tweaked its AI chip for the Chinese market, which is gaining traction. Meanwhile, Chinese chip startup Shanghai Biren Intelligent Technology Co is considering a Hong Kong IPO by 2023 and is in discussions for a separate funding round.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:21 am

BABA

Alibaba Group Holding Limited (NYSE:BABA) stock traded lower as China's economy growth lagged market expectations and Wall Street banks reduced their targets. China's GDP grew at an annual pace of 6.3% last quarter, trailing the consensus forecast of a 7.1% gain. Analysts do not expect the GDP data to prompt Beijing to step up stimulus measures. Morgan Stanley, JPMorgan Chase, and Citigroup trimmed their growth forecasts for China's GDP this year to 5%.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:18 am

UBER

Uber Technologies, Inc (NYSE:UBER) stock is trading lower following reports of its ongoing legal battle with a California lawsuit claiming it should have covered UberEats drivers' work-related expenses. The California Supreme Court ruled that UberEats driver Erik Adolph did not give up his right to sue on behalf of a large group of workers, despite agreeing to bring his work-related legal claims in private arbitration. This ruling conflicts with the Viking River decision and violates a federal law that requires enforcing valid arbitration agreements, according to Uber's lawyer.

Portfolio Pulse from Anusuya Lahiri

July 18, 2023 | 11:14 am

RUN

Morgan Stanley has maintained an Overweight rating on Sunrun's stock and raised its price target from $30 to $39. This has led to Sunrun shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:05 am

CATC

Cambridge Bancorp (NASDAQ:CATC) reported Q2 adjusted earnings of $1.23 per share, beating the analyst consensus estimate of $1.18 by 4.24%. However, this is a 35.26% decrease from the same period last year. The company's quarterly sales were $39.79 million, missing the analyst consensus estimate of $40.61 million by 2.02%, and marking a 12.22% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:04 am

PINS

Pinterest shares are trading higher following an upgrade from Evercore ISI Group, which changed the stock's rating from In-Line to Outperform.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 11:02 am

MASI

QQQ

SPY

The market mood has turned cautious again after major averages rebounded on Monday. Tech and small-cap stocks fueled a rally, while utility and real estate stocks came under selling pressure. JPMorgan analysts have expressed caution about the tech sector, citing potential risks to technology profits if the anticipated slowdown in economic activity materializes. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) both fell slightly. Medical devices manufacturer Masimo Corp. (MASI) plunged over 27% in premarket trading following its negative preannouncement.

Portfolio Pulse from Shanthi Rexaline

July 18, 2023 | 10:56 am

UEC

Uranium Energy Corp (UEC) has announced the development of Burke Hollow and Palangana ISR projects in South Texas. The projects are expected to boost the company's uranium production capacity.

Portfolio Pulse from Bill Haddad

July 18, 2023 | 10:56 am

LITE

B of A Securities analyst Vivek Arya has downgraded Lumentum Holdings (NASDAQ:LITE) from Neutral to Underperform and set a price target of $50.

Portfolio Pulse from richadhand@benzinga.com

July 18, 2023 | 10:54 am

COHR

B of A Securities analyst Vivek Arya has downgraded Coherent (NYSE:COHR) from Buy to Neutral and announced a $55 price target.

Portfolio Pulse from richadhand@benzinga.com

July 18, 2023 | 10:53 am