Streetbeat News

Stock Prices

XRPUSD

XRP's price has risen by 66.88% to $0.79 in the past 24 hours, continuing its positive trend over the past week with a 55.0% gain. The trading volume for the coin has climbed 483.0% over the past week, while the overall circulating supply of the coin has decreased 0.73% to 52.54 billion. XRP's current market cap ranking is #4 at $40.90 billion.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 7:00 pm

BP

Raymond James analyst Justin Jenkins has reiterated an Outperform rating on BP P.L.C. (NYSE:BP), but lowered the price target to $45 from $47. Jenkins noted that BP's net zero plan is the most comprehensive in the industry. The analyst also lowered the EPADS estimate for 2Q to $1.15 due to lower Gas & Low Carbon and Oil Production & Operations estimates. However, BP's surplus cash outlook and share repurchases are expected to reduce share count significantly. The analyst also lowered 2023 and 2024 EPS and revenue estimates.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:56 pm

LTCUSD

Litecoin (LTC) is trading higher by 7.6% to $103.49. The increase comes after a U.S. judge ruled that Ripple's sales of the XRP token do not constitute an offer of investment contracts. This decision could be seen as a positive development for the broader cryptocurrency industry, potentially leading to increased demand and higher prices for other cryptocurrencies, including Litecoin.

Portfolio Pulse from Henry Khederian

July 13, 2023 | 6:52 pm

ETCUSD

Ethereum Classic (ETC) is trading higher by 6.3% to $19.86. The increase comes after a U.S. judge ruled that Ripple's sales of the XRP token do not constitute an offer of investment contracts. This decision could be seen as a positive development for the broader cryptocurrency industry, potentially leading to increased demand and higher prices for other cryptocurrencies, including ETC.

Portfolio Pulse from Henry Khederian

July 13, 2023 | 6:52 pm

AZTA

CYRX

Cryoport Inc's shares are trading lower after the company released preliminary results for Q2 FY23 and updated its revenue expectations for FY23. The company expects Q2 sales of $56.5 million - $57.5 million, a decrease of 11% compared to Q2 2022 and below the consensus of $67.4 million. Cryoport also lowered its FY23 sales outlook to $233 million - $243 million, down from prior guidance of $270 million - $290 million. Despite this, analysts remain bullish on the company's long-term return.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:52 pm

FISI

Stephens analyst Matt Breese initiated coverage on Financial Institutions, Inc. (NASDAQ:FISI) with an Equal Weight rating and a price target of $20. Despite the company's strengths such as diversified revenues and a steady NIM outlook, Breese is concerned about FISI's below-average profitability. He forecasts operating EPS of $2.94 for 2023 and 2024, and a 0.74% ROA in 2024. FISI shares are currently trading lower by 0.46% to $16.27.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:51 pm

AXNX

MDT

KeyBanc Capital Markets initiated coverage on Axonics Inc (AXNX) with an Overweight rating and a price target of $70. The analyst believes AXNX is well-positioned to penetrate its portfolio in an underserved market. AXNX is facing an IP lawsuit from Medtronic Plc (MDT), but the analyst believes AXNX can manage through a wide range of scenarios. AXNX shares are up 5.26% at $51.20.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:45 pm

APO

CG

KKR

Private equity stocks are trading higher following bullish commentary from Barclay's. Stocks mentioned include APO, CG, and KKR.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:44 pm

BILI

Shares of Bilibili are trading higher due to optimism about an end to regulatory crackdowns in China, which is boosting Chinese stocks.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:42 pm

BHP

CENX

FCX

RIO

SCCO

VALE

Metals stocks are trading higher following softer-than-expected US inflation data. The stocks mentioned include BHP, CENX, FCX, RIO, SCCO, and VALE.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:39 pm