Streetbeat News

Stock Prices

Toyota Motor Corp (NYSE:TM) plans to strengthen its local development of intelligence and electrification technology in China. The company will change the name of its largest R&D facility in China to 'Intelligent ElectroMobility R&D Center by TOYOTA (China) Co., Ltd.' as of August 1. Toyota aims to reduce manufacturing costs by developing a local supplier base, reviewing parts designs, and production engineering/manufacturing reform.

Portfolio Pulse from Shivani Kumaresan

July 31, 2023 | 10:28 am

AVAV

FXI

SPY

UAVS

VISL

China's Commerce Ministry has announced export controls on drone-related equipment, effective from September 1. This move comes amid ongoing tech tensions between China and the US.

Portfolio Pulse from Charles Gross

July 31, 2023 | 10:14 am

AAPL

Apple Inc. is expected to report its fiscal-year third quarter earnings with an average expectation of $1.08 per share on revenue of $74 billion, a decline from the previous year. Analyst Daniel Ives from Wedbush is confident that Apple will meet these expectations due to an uptick in iPhone demand in China and a higher average selling price for the iPhone 14 Pro. Ives also expects Apple's Services business to grow, contributing to the company's overall valuation.

Portfolio Pulse from Shanthi Rexaline

July 31, 2023 | 10:05 am

EEMA

EWU

EZU

FLAX

SPY

On July 28, U.S. markets ended higher due to tech earnings, economic data, and central bank comments. The PCE price index rose 0.2% MoM in June. The Dow Jones, S&P 500, and Nasdaq Composite all closed higher. Asian markets also ended higher, with Japan's Nikkei 225, Australia's S&P/ASX 200, Shanghai Composite, and Hang Seng index all closing in the green. The Pan-European STOXX 600 index, DAX index, and CAC 40 also rose, while the U.K.'s FTSE 100 traded lower. Commodities saw mixed results, with Crude Oil WTI and Natural Gas trading higher, while Brent, Gold, and Silver traded lower. Copper was up. U.S. futures and the U.S. Dollar Index were also up.

Portfolio Pulse from Akanksha Bakshi

July 31, 2023 | 10:04 am

AMZN

INTC

TSLA

The S&P 500 and Dow Jones closed higher on Friday, with the S&P adding 1.01% and the Dow climbing 0.66% for the week. The PCE price index rose 0.2% in June, and the Fed raised its benchmark overnight interest rate by 25 basis points. Intel Corporation and The Procter & Gamble Company saw gains after reporting better-than-expected results and strong guidance. The Nasdaq 100 rose 1.85% amid gains in shares of Amazon.com, Inc. and Tesla Inc. The CBOE Volatility Index fell 7.5%.

Portfolio Pulse from Lisa Levin

July 31, 2023 | 9:54 am

CTXR

Citius Pharmaceuticals received a Complete Response Letter from the FDA for Lymphir (Denileukin Diftitox) for relapsed/refractory cutaneous T-cell lymphoma, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:39 am

NAVB

Navidea Biopharmaceuticals has announced that the NYSE American has started delisting proceedings against the company. Navidea intends to appeal against this decision. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 9:37 am

LUV

Bernstein analyst David Vernon has downgraded Southwest Airlines (NYSE:LUV) from Outperform to Market Perform and lowered the price target from $41 to $32.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:35 am

PAG

JP Morgan analyst Rajat Gupta has downgraded Penske Automotive Group (NYSE:PAG) from Neutral to Underweight and lowered the price target from $150 to $140.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:29 am

CSX

RBC Capital analyst Walter Spracklin has downgraded CSX (NASDAQ:CSX) from Outperform to Sector Perform and set a price target of $35.

Portfolio Pulse from richadhand@benzinga.com

July 31, 2023 | 9:28 am