Streetbeat News

Stock Prices

ACMR

ACM Research shares are trading higher after Jefferies upgraded its rating from Underperform to Buy and raised the price target from $9 to $23.4.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 9:05 am

AZN

AstraZeneca's shares are trading lower following the announcement of topline results from the TROPION-Lung01 phase 3 trial of datopotamab deruxtecan in advanced or metastatic non-small cell lung cancer.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 8:50 am

ACMR

Jefferies analyst Nick Cheng has upgraded ACM Research (NASDAQ:ACMR) from Underperform to Buy and raised the price target from $9 to $23.4.

Portfolio Pulse from richadhand@benzinga.com

July 03, 2023 | 8:29 am

LI

MENA

NIO

TSLA

TTCF

Tesla reported record Q2 deliveries, exceeding estimates, and its shares gained 1.7%. Moderna submitted a regulatory application for an updated COVID-19 vaccine to the European Medicines Agency, and its shares gained 0.2%. NIO reported a 17.4% YoY slump in June deliveries but a 74% increase from May, and its shares gained 0.4%. Li Auto reported a 150.1% YoY surge in June deliveries, and its shares climbed 0.9%. Tattooed Chef intends to file for voluntary Chapter 11 Bankruptcy protection, and its shares dipped 37.8%.

Portfolio Pulse from Lisa Levin

July 03, 2023 | 8:02 am

AAPL

Apple Inc.'s Vision Pro headset is facing production challenges, leading to significant cuts in production forecasts. The complexity of the headset design and manufacturing difficulties have forced Apple to scale back its targets. Luxshare, the Chinese contract manufacturer responsible for assembling the Vision Pro headset, is expected to produce fewer than 400,000 units in 2024, a significant reduction from earlier internal targets of one million units within the first year.

Portfolio Pulse from Ananya Gairola

July 03, 2023 | 7:51 am

BNO

VDE

Oil prices traded slightly lower due to possibilities of a slowdown led by extended rate hikes by the Federal Reserve. Recent data supports further rate hikes by the Fed. Factory activity growth in China showed signs of slowing down in June. Analysts anticipate tighter supplies and a potential price boost in the second half of the year. The United States Brent Oil Fund LP (BNO) closed 1.15% higher, while the Vanguard Energy Index Fund ETF (VDE) gained 0.68%.

Portfolio Pulse from Bhavik Nair

July 03, 2023 | 7:03 am

NVDA

The CNN Money Fear and Greed index remained in the 'Extreme Greed' zone on Friday, indicating strong market sentiment. U.S. stocks closed higher, with the Nasdaq Composite recording its best first half since 1983. NVIDIA Corporation (NASDAQ:NVDA) shares gained 3.6% on Friday, bringing its yearly gains to over 189%.

Portfolio Pulse from Lisa Levin

July 03, 2023 | 6:47 am

DIS

Mukesh Ambani's streaming platform, JioCinema, has become a significant competitor to Walt Disney Co. (NYSE:DIS) in India's rapidly expanding streaming market. JioCinema attracted over 400 million viewers to its streams of the Indian Premier League (IPL) cricket tournament in April and May 2023. The platform has acquired rights to shows and films from global networks like NBC, HBO, and Warner Bros. JioCinema's rise began when it outbid Disney Star for the digital rights to stream the IPL until 2028.

Portfolio Pulse from Benzinga Newsbot

July 03, 2023 | 6:22 am

LI

NIO

XPEV

Chinese EV maker Nio Inc reported 10,707 vehicle deliveries in June, a 17.4% slump year-on-year but a 74% jump from May. For Q2, Nio delivered 23,520 vehicles. Li Auto reported 32,575 deliveries while XPeng recorded 8,620. Cumulatively, for Q2, Li Auto led in sales among the three startups, followed by Nio. China extended the purchase tax exemption for new energy vehicles for four more years.

Portfolio Pulse from Anan Ashraf

July 03, 2023 | 5:28 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) reported record second-quarter deliveries, with year-over-year growth accelerating from 36% in Q1 to 83% in Q2. Analyst Gene Munster of Deepwater Asset Management highlighted that Tesla's price cuts are significantly effective. However, he does not expect a margin recovery in the June quarter, predicting the auto gross margin to align with March 2023's 19%. Tesla's stock ended Friday's session up 1.66% at $261.77.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 5:01 am