Streetbeat News

Stock Prices

YJ

Yunji has regained compliance with Nasdaq's minimum bid price requirement. The closing bid price of the company's ADSs has been at $1.00 per ADS or greater for 10 consecutive business days from June 20, 2023, through July 3, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 10:03 am

PARA

Wolfe Research analyst Peter Supino has downgraded Paramount Global (NASDAQ:PARA) from Peer Perform to Underperform and set a price target of $14.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 10:01 am

AMZN

COST

TSLA

The S&P 500 and Dow Jones recorded their biggest daily percentage declines since May, following the release of latest jobs data. Private businesses in the U.S. added 497,000 jobs in June, higher than market estimates. Costco Wholesale Corporation reported a 1.4% drop in total comparable sales for June, while its net sales rose 0.4% year-over-year. The Nasdaq 100 dipped 0.75% amid losses in shares of Tesla Inc and Amazon.com, Inc.

Portfolio Pulse from Lisa Levin

July 07, 2023 | 10:01 am

FUN

Citigroup analyst James Hardiman has downgraded Cedar Fair (NYSE:FUN) from Buy to Neutral and lowered the price target from $50 to $41.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 9:31 am

HUM

JP Morgan analyst Lisa Gill has downgraded Humana (NYSE:HUM) from Overweight to Neutral and lowered the price target from $576 to $540.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 9:29 am

SHEL

Shell PLC (NYSE:SHEL) has revised its Q2 2023 outlook across all its businesses. The company updated the production outlook for Integrated Gas and Upstream, and expects Trading & Optimisation results to be significantly lower Q/Q. Shell also revised sales volumes guidance for Marketing and anticipates the outlook for refinery utilization in Chemicals & Products. The company expects to release Q2 results on July 20, 2023. Last month, Shell announced a 15% increase in dividend per share and a share repurchase of at least $5 billion for H2 2023.

Portfolio Pulse from Lekha Gupta

July 07, 2023 | 9:29 am

TSLA

Tesla Inc. has started laying off battery production workers at its Shanghai plant amidst a price war in China. The exact number of layoffs and specific reasons are unclear. Some employees have been offered transfers to other workshops. Automation equipment is being designed to potentially replace human labor on the battery production line. Despite layoffs, Tesla's deliveries from Shanghai rose almost 20% YoY in June. CEO Elon Musk is comfortable with making less money on each car sold, following several rounds of price cuts.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 9:27 am

BTCUSD

Samson Mow, CEO of Bitcoin firm Jan3, criticized Jim Cramer and Nassim Nicholas Taleb for their negative views on Bitcoin. Mow suggested that Bitcoin will become a key issue in politics, with candidates emphasizing its benefits. He also praised Robert Kennedy Jr.'s support for Bitcoin. At the time of writing, Bitcoin was trading at $30,122, down 2.48% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 07, 2023 | 9:10 am

HBM

Barclays analyst Matthew Murphy has upgraded Hudbay Minerals (NYSE:HBM) from Equal-Weight to Overweight.

Portfolio Pulse from richadhand@benzinga.com

July 07, 2023 | 9:07 am

EWH

FXI

SPY

U.S. inspectors have started a new round of routine checks on audits of Wall Street-listed Chinese companies in Hong Kong, according to Reuters. This could potentially impact the performance of ETFs like EWH, FXI, and SPY.

Portfolio Pulse from Charles Gross

July 07, 2023 | 9:04 am