Streetbeat News

Stock Prices

UBS

UBS Group AG has completed its acquisition of Credit Suisse Group AG, with the combined entity operating as a consolidated banking group. UBS expects its CET1 capital ratio to be around 14% in Q2 2023. The last trading day of CS on the SIX Swiss Exchange is today.

Portfolio Pulse from Lekha Gupta

June 12, 2023 | 9:32 am

NIO

TSLA

Chinese EV maker Nio announced price cuts on all its new models and discontinuation of free battery exchange service for new users, following a Q1 FY23 sales growth of 7.7% YoY to $1.56 billion, missing the consensus of $1.63 billion. Vehicle sales declined and vehicle margin contracted 1,300 basis points to 5.1%.

Portfolio Pulse from Anan Ashraf

June 12, 2023 | 8:57 am

XPEV

XPeng's shares rose 9.5% in premarket trading after the company announced receiving over 25,000 orders for its G6 model within 72 hours of the pre-sale launch.

Portfolio Pulse from Charles Gross

June 12, 2023 | 8:50 am

AZN

BNTX

FXI

JNJ

MRNA

NVAX

PFE

China's latest Covid-19 wave has peaked with around 2,800 severe cases and 164 deaths, according to the South China Morning Post. The news may impact the stocks of vaccine manufacturers and China-related ETFs.

Portfolio Pulse from Charles Gross

June 12, 2023 | 8:43 am

AMZN

BNED

RIVN

WMT

A $1,000 investment in Amazon (AMZN) in 1999, when Barron's predicted its failure, would now be worth $46,577.4, a 4,558% gain. This compares to the S&P 500's 233% gain and the Nasdaq Composite's 450% jump. Amazon has evolved into a technology giant with diverse interests and is now part of the FAANG group.

Portfolio Pulse from Shanthi Rexaline

June 12, 2023 | 8:41 am

NIO

China's electric vehicle maker Nio announced a price cut of approximately $4,200 for all models starting June 12, as reported by Reuters.

Portfolio Pulse from Charles Gross

June 12, 2023 | 8:37 am

APM

ECX

GROW

ORCL

TEDU

Oracle, ECARX, and three other stocks are in focus on Monday. Oracle is expected to report quarterly earnings of $1.58 per share on revenue of $13.73 billion. US Global Investors reported Q2 earnings of 6 cents per share, down from 24 cents in the year-ago period. Tarena International is expected to post a quarterly loss of $1.93 per share on revenue of $52.89 million. Aptorum Group announced voluntary delisting from Euronext Paris. ECARX is expected to post a quarterly loss of 14 cents per share on revenue of $111.58 million.

Portfolio Pulse from Lisa Levin

June 12, 2023 | 8:08 am

BRZE

ECX

ORCL

TEDU

The Dow recorded gains for the fourth straight session on Friday, with the CNN Money Fear and Greed index showing improved sentiment among U.S. investors. Braze, Inc. shares jumped 16% after posting strong Q1 results and forecast. Investors await earnings results from Oracle Corporation, ECARX Holdings Inc., and Tarena International, Inc.

Portfolio Pulse from Lisa Levin

June 12, 2023 | 7:51 am

SHY

VGSH

Hedge funds continue to short short-term Treasury Bills, suggesting the Federal Reserve's rate hiking cycle may not be over. Leveraged investors increased their net-short two-year Treasury positions for an eleventh straight week. The iShares 1-3 Year Treasury Bond ETF (SHY) and the Vanguard Short-Term Treasury Index Fund ETF (VGSH) both experienced losses during this period.

Portfolio Pulse from Bhavik Nair

June 12, 2023 | 7:28 am

AMD

MSFT

NVDA

QQQ

SPY

TSM

Foord Asset Management's Brian Arcese warns of an overheated market amid lingering inflation and believes the Fed's rate tightening cycle is not over. He highlights the divergence between tech stocks and the rest of the S&P 500, with tech stocks driving much of the rally this year.

Portfolio Pulse from Bhavik Nair

June 12, 2023 | 7:12 am