Streetbeat News

Stock Prices

AMZN

A significant number of investors have taken a bearish stance on Amazon.com (NASDAQ:AMZN), with 64% of detected trades indicating bearish expectations. The targeted price range for Amazon.com over the last 3 months has been $115.0 to $133.0. Several experts have downgraded their actions on Amazon, with price targets ranging from $160 to $180. The company's next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 1:46 pm

ICU

MDAI

NXU

TSLA

US stocks edged higher following the release of jobless claims data. Tesla reported weaker-than-expected Q3 earnings and sales, missing Street consensus estimates. SeaStar Medical, Spectral AI, and Zapp Electric Vehicles saw significant stock increases, while Nxu, Grindrod Shipping, and Mullen Automotive experienced drops. Nxu announced a $3 million public offering, and Mullen Automotive filed a preliminary proxy statement for a reverse stock split.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 1:43 pm

ARKK

NVDA

Cathie Wood's ARK Invest, which manages nearly $60 billion in assets, avoided participating in the IPO of British chipmaker Arm Holdings due to concerns about overemphasis on AI and high valuation. Arm's stock has since declined about 20% from its all-time high. ARK Invest's flagship fund, Ark Innovation ETF (ARKK), has seen a 25% surge this year, driven by holdings in companies like Tesla, Shopify, and Coinbase. Wood recently purchased Rize ETF, a British thematic ETF provider, marking ARK Invest's entry into the European passive investment market.

Portfolio Pulse from Aditi Ganguly

October 19, 2023 | 1:35 pm

GOOS

Wells Fargo analyst Ike Boruchow has downgraded Canada Goose Holdings (NYSE:GOOS) from Overweight to Equal-Weight and lowered the price target from C$25 to C$20.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 1:34 pm

APEUSD

BSVUSD

BTCUSD

ETHUSD

Bitcoin (BTC) traded above $28,400 while Ethereum (ETH) fell below $1,600 after U.S. jobless claims data showed a decline. Bitcoin SV (BSV) was the top gainer over the past 24 hours, while ApeCoin (APE) was the biggest loser. The global crypto market cap fell to $1.08 trillion, a 24-hour decline of 0.5%.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 1:30 pm

NIO

TSLA

XPEV

Shares of China-based EV makers NIO Inc, XPeng Inc, and Li Auto Inc are trading lower following Tesla Inc's weak Q3 financial results. Tesla missed analyst estimates on both revenue and earnings per share, with lower average selling prices impacting top-line results. Tesla's disappointing results and price cuts, especially in China, are affecting other EV companies in the world's biggest EV market.

Portfolio Pulse from Adam Eckert

October 19, 2023 | 1:29 pm

EIS

GLD

The ongoing Israel-Hamas conflict has led to geopolitical chaos in the Middle East. Egypt has approved aid convoys to Gaza, and the European Union has welcomed Israel's commitment to allow some humanitarian aid. The Biden administration is considering a $10 billion support package for Israel. The Israeli shekel and the Israeli stock market (TA-125 index) have declined, while gold has appreciated. The U.S. dollar weakened, and oil prices fell.

Portfolio Pulse from Piero Cingari

October 19, 2023 | 1:28 pm

BABA

BILI

CNICF

Chinese online retailers JD.com (NASDAQ:JD) and Bilibili Inc. (NASDAQ:BILI) are preparing for the upcoming Single's Day sales event on November 11. JD.com plans to hold a pre-sale event and expects to sell over 800 million items. Bilibili is partnering with JD and Alibaba (NYSE:BABA) to boost sales. China International Capital Corp Limited (OTC:CNICF) expects the sales event to increase earnings for the retailers. CICC gave Alibaba a price target of HK$137 and JD a price target of $44.

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 1:28 pm

OWL

European private equity firm CVC Capital Partners, with €161 billion under management, is planning to go public in Amsterdam. The firm aims to create an entity that will sell shares to the public, allowing investors to partake in management fees and carried interest. This move will enable existing shareholders, including Singapore's GIC, the Kuwait Investment Authority, the Hong Kong Monetary Authority, and US asset manager Blue Owl Capital, to reduce their holdings. The IPO timing remains uncertain due to geopolitical factors.

Portfolio Pulse from Vandana Singh

October 19, 2023 | 1:25 pm

MSFT

NVDA

British chipmaker Graphcore, once touted as a promising rival to Nvidia in the AI chip market, is facing financial difficulties. The company's revenue dropped significantly last year, leading to an 11% increase in pretax loss to $204.6 million and a 46% decrease in revenue to $2.7 million. A major setback was Microsoft's decision not to integrate Graphcore's chips into its cloud computing platform. Graphcore is now seeking additional funding and restructuring its operations to meet its short- and medium-term obligations.

Portfolio Pulse from Aditi Ganguly

October 19, 2023 | 1:24 pm