Streetbeat News

Stock Prices

RIO

Rio Tinto's stock is trading higher following an upgrade from Morgan Stanley, which changed its rating from Equal-Weight to Overweight.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 4:46 pm

BTCUSD

A decoupling between crypto assets and tech stocks has been observed since April, with the Nasdaq and Bitcoin showing divergent trends. Institutional investors have shifted their focus from crypto to AI-related stocks, contributing to the divergence. Bitcoin's price movements have historically led the Nasdaq, but it remains to be seen if this trend will continue.

Portfolio Pulse from Giles Coghlan

May 26, 2023 | 4:45 pm

MRVL

NVDA

Semiconductor and chip stocks are trading higher following Marvell Technology's strong Q1 results and its expectation of AI revenue doubling by 2024. NVIDIA's Q1 earnings and optimism around debt ceiling talks also contribute to the sector's boost.

Portfolio Pulse from Benzinga Newsdesk

May 26, 2023 | 4:45 pm

SPY

GOP Rep. McHenry stated that a debt-limit deal must come together, potentially impacting the US stock market and ETFs like SPY.

Portfolio Pulse from Happy Mohamed

May 26, 2023 | 4:45 pm

BABA

BIDU

Alibaba shares are trading higher as Chinese stocks gain strength, with Baidu rising on expectations of the launch of its Ernie 3.5.

Portfolio Pulse from Bill Haddad

May 26, 2023 | 4:41 pm

FL

HIBB

Hibbett Inc (HIBB) reported lower-than-expected 1Q23 earnings and sales, leading to a 25% cut in its 2023 EPS guidance. Telsey Advisory Group analyst Cristina Fernández reiterated an Outperform rating with a $70 price target. The results reflect lower demand for discretionary products, inventory buildup, and increased markdowns.

Portfolio Pulse from Shivani Kumaresan

May 26, 2023 | 4:40 pm

NFLX

Netflix shares are trading higher following the company's recent crackdown on password sharing. The stock may also be benefiting from overall market strength due to hopes of a debt ceiling resolution and broader tech strength.

Portfolio Pulse from Bill Haddad

May 26, 2023 | 4:33 pm

OXY

Unusual options activity has been observed in Occidental Petroleum (NYSE:OXY), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 uncommon options trades, with 60% being bearish and 40% bullish. Whales have been targeting a price range of $23.0 to $75.0 for OXY over the last 3 months.

Portfolio Pulse from Benzinga Insights

May 26, 2023 | 4:33 pm

AMD

MRVL

NVDA

QQQ

AMD shares are trading higher, moving in sympathy with Marvell Technology following Marvell's strong Q1 results and forecast that AI revenue will double by 2024. The tech sector is also boosted by NVIDIA's Q1 earnings and optimism surrounding debt ceiling discussions.

Portfolio Pulse from AJ Fabino

May 26, 2023 | 4:33 pm

LI

Li Auto option alert for July 21 $33 calls sweep near the ask with 500 contracts at $0.79, compared to 955 open interest; stock reference price at $28.265.

Portfolio Pulse from Charles Gross

May 26, 2023 | 4:31 pm