Streetbeat News

Stock Prices

XPEV

Shares of XPeng Inc - ADR (NYSE:XPEV) are trading higher by 5.60% to $10.75 during Tuesday's session. This is following Chinese Premier Li Qiang's announcement that China is on track to reach its 5% annual growth target and plans to stimulate markets and open select sectors of its economy to international participation. Li also assured the government's continued support for the presence of foreign companies and addressed concerns regarding new data management regulations.

Portfolio Pulse from Henry Khederian

June 27, 2023 | 5:55 pm

BDTX

Traders are circulating a note from Cowen that highlights data from Black Diamond Therapeutics. The content of the note is not specified.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2023 | 5:52 pm

RCEL

Cantor Fitzgerald has initiated coverage on Avita Medical Inc (NASDAQ:RCEL) with an Overweight rating and a price target of $23. The analyst believes that Avita's RECELL system will disrupt traditional skin grafts, requiring significantly less donor skin. The system also reduces the number of autograft procedures and hospital stay length. The company can tap into an additional 10,000 annual burn procedures and approximately 110,000 acute wound procedures, suggesting a total addressable market (TAM) of $1.0 billion. Furthermore, an estimated 1.3 million stable vitiligo procedures in the U.S. indicate a potential TAM of $5.2 billion.

Portfolio Pulse from Vandana Singh

June 27, 2023 | 5:51 pm

META

A significant number of investors have taken a bearish stance on Meta Platforms (NASDAQ:META), with 60% of detected trades showing bearish expectations. However, the stock price is up 3.16% at $287.27. Analysts from Roth MKM, Oppenheimer, Citigroup, JMP Securities, and UBS have maintained their positive ratings on Meta Platforms, with price targets ranging from $300 to $360.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:49 pm

PLTR

A significant amount of unusual options activity has been observed for Palantir Technologies (NYSE:PLTR), with a majority of investors taking a bullish stance. The trades include 4 puts amounting to $315,452 and 15 calls amounting to $596,044. The targeted price range for Palantir over the last 3 months has been between $7.0 and $25.0. The current price of PLTR is up 4.73% at $14.6. Analysts from Goldman Sachs, Jefferies, B of A Securities, and Raymond James have maintained their ratings on Palantir, with price targets ranging from $10 to $18.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:49 pm

C

A significant investor has taken a bearish stance on Citigroup (NYSE:C), with 53% of recent trades being bearish and 46% bullish. The total amount for put options is $1,449,054 and for call options is $227,406. Whales have been targeting a price range from $40.0 to $55.0 for Citigroup over the last 3 months. B of A Securities maintains a Buy rating on Citigroup with a price target of $60, while RBC Capital and Morgan Stanley have downgraded their actions with price targets of $51 and $45 respectively.

Portfolio Pulse from Benzinga Insights

June 27, 2023 | 5:49 pm

BIDU

Shares of Baidu Inc (NASDAQ:BIDU) are trading higher by 3.27% after Chinese Premier Li Qiang announced plans to stimulate markets and open select sectors of the economy to international participation. The Premier also assured the government's continued support for the presence of foreign companies and addressed concerns regarding new data management regulations.

Portfolio Pulse from Henry Khederian

June 27, 2023 | 5:48 pm

LUV

Southwest Airlines Co (LUV) shares are trading higher by 3.82% to $35.30, potentially in sympathy with Delta Air Lines, which raised its Q2 and 2023 guidance. Delta anticipates revenue growth of 17%-18% for Q2 2023, up from the previous forecast of 15%-17%. For the full fiscal year 2023, the company now anticipates revenue growth of 17%-20%, up from the previous forecast of 15%-20%.

Portfolio Pulse from Henry Khederian

June 27, 2023 | 5:48 pm

SAVE

Spirit Airlines Inc (NYSE:SAVE) shares are trading higher by 3.63% to $16.86, potentially in sympathy with Delta Air Lines, which raised its Q2 and 2023 guidance at its Investor Day presentation. Delta Air Lines has raised its revenue growth outlook for Q2 2023 to 17%-18%, up from 15%-17%, and expects EPS to be in the range of $2.25-$2.50, surpassing the consensus estimate of $2.17.

Portfolio Pulse from Henry Khederian

June 27, 2023 | 5:47 pm

JNJ

Johnson & Johnson's (JNJ) proposed $8.9 billion settlement of lawsuits alleging cancer-causing talc products is under scrutiny in a U.S. bankruptcy court. J&J's subsidiary, LTL Management, is attempting to resolve the lawsuits through bankruptcy for the second time. The initial bankruptcy attempt was dismissed, and the second filing is also facing opposition. JNJ shares are down 0.06% at $163.53.

Portfolio Pulse from Vandana Singh

June 27, 2023 | 5:43 pm