Streetbeat News

Stock Prices

FTNT

Fortinet Inc.'s (NASDAQ:FTNT) stock price is currently at $74.07, after a 0.32% drop. However, the stock has increased by 7.36% over the past month and by 18.15% over the past year. The company's P/E ratio of 61.92 is lower than the Software industry average of 113.54, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 4:21 pm

ADI

INTC

KLAC

QCOM

Large-cap chip stocks are trading lower due to concerns over further rate hikes and China's recent announcement of an export restriction on certain materials used in chip production. Stocks mentioned include ADI, INTC, KLAC, and QCOM.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:20 pm

VXRT

Vaxart Inc has announced positive preliminary data from the Phase 2 trial of its oral pill bivalent norovirus vaccine candidate. The results showed strong serum immune responses across all doses and a favorable safety profile. The company expects to have additional data in the second half of 2023, which will inform dosage amounts for a Phase 2b study. If successful, this could lead to an End-of-Phase 2 meeting with the FDA in 2024. VXRT shares are currently down 3.11%.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 4:19 pm

ORCL

Josh Brown, a renowned investor, announced on CNBC that he has sold his shares in Oracle Corporation (ORCL).

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 4:19 pm

PYPL

PayPal Holdings' shares are trading lower after Piper Sandler maintained a Neutral rating on the stock and lowered its price target from $83 to $80.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:19 pm

BEKE

PDD

TCOM

Chinese stocks, including BEKE, IQ, JD, PDD, TCOM, are experiencing a downturn due to worries about additional US rate hikes.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:15 pm

BLCO

JNJ

NVS

Bausch + Lomb Corporation (NYSE:BLCO) has acquired Johnson & Johnson's (NYSE:JNJ) eye and contact lens drops brand Blink for $106.5 million. This is the second acquisition in two weeks aimed at bolstering Bausch + Lomb's portfolio of eye care products. Last week, the company struck a $1.75 billion deal with Novartis AG (NYSE:NVS) to buy several eye-care products.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 4:14 pm

LCID

Lucid Group Inc's shares are trading lower by 6.95% due to overall market weakness and concerns over further rate hikes following better-than-expected US jobs data. Higher interest rates can increase the cost of capital for electric vehicle companies like Lucid Group, impacting their ability to secure favorable terms for raising funds and potentially leading to higher component prices, affecting Lucid Group's manufacturing costs and overall profitability.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 4:09 pm

BAC

UBS

Shares of companies in the broader financial sector are trading lower due to concerns over further rate hikes. This is causing overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:09 pm

KDP

Morgan Stanley analyst Dara Mohsenian has upgraded the rating for Keurig Dr Pepper Inc (NASDAQ:KDP) from Equal-Weight to Overweight, while keeping the price target unchanged at $36. Despite the company's underperformance and a 9% drop in stock price year to date, Mohsenian believes the company's strong trends in refreshment beverages can offset weakness in coffee trends. Shares of Keurig Dr Pepper were up 2.05% to $32.40 at the time of publication.

Portfolio Pulse from Priya Nigam

July 06, 2023 | 4:06 pm