Streetbeat News

Stock Prices

SYF

Morgan Stanley has maintained its Underweight rating for Synchrony Financial (SYF) and lowered its price target from $29.00 to $28.00. Shares of Synchrony Financial are currently trading down 3.95% at $29.17 per share.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 5:00 pm

DHI

HOV

LOW

PHM

Housing-related stocks are trading lower due to broader market weakness influenced by rising Treasury yields.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:53 pm

SPY

TLH

TLT

UTEN

The 10-year Treasury yield has surged above 4.75%, its highest level since August 2007, causing a ripple effect in financial markets. The US Treasury 10 Year Note ETF (UTEN) and the iShares 10-20 Year Treasury Bond ETF (TLH) have registered significant losses, while the iShares 20+ Year Treasury Bond ETF (TLT) has lost more than half of its value since March 2020. The SPDR S&P 500 ETF Trust (SPY) has also been affected, experiencing its roughest month of the year. The rise in Treasury yields is attributed to an expansion of the U.S. government’s budget deficit, the ongoing Fed quantitative tightening program, and the Federal Reserve’s restrictive stance on interest rates.

Portfolio Pulse from Piero Cingari

October 03, 2023 | 4:52 pm

AMZN

GOOGL

MSFT

British media regulator, Ofcom, is advocating for an antitrust probe into Amazon and Microsoft's dominance in the UK's cloud computing market. The two companies hold a combined market share of 60-70%, significantly overshadowing Google's 10%. Ofcom has expressed concerns about the challenges clients face in negotiating favorable terms due to this market dominance. Amazon and Microsoft's shares traded lower by 3.25% and 2.55% respectively.

Portfolio Pulse from Anusuya Lahiri

October 03, 2023 | 4:48 pm

VRAR

Glimpse Group Inc has announced an agreement for the purchase and sale of approximately 1.9 million shares of the company's common stock, according to an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:48 pm

NOC

Northrop Grumman Inc.'s (NYSE:NOC) share price is currently at $441.35, after a 0.20% drop. Over the past month, the stock increased by 1.31%, but over the past year, it fell by 9.85%. The company's P/E ratio is lower than the aggregate P/E of the Aerospace & Defense industry, suggesting that the stock might be undervalued.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 4:45 pm

AXP

Stephanie Link, a well-known investor, has announced on CNBC that she has increased her holdings in American Express (AXP).

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:43 pm

BILL

CRWD

DDOG

HUBS

MDB

MSFT

NET

NOW

ORCL

PLTR

SHOP

U

ZS

Tech and software stocks are trading lower due to rising Treasury yields, which have negatively impacted growth stocks. The stocks mentioned include BILL, CRWD, DDOG, HUBS, MDB, MSFT, NET, NOW, ORCL, PLTR, SHOP, U, ZS.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:41 pm

ABNB

Keybanc analyst Justin Patterson has downgraded Airbnb Inc (NASDAQ: ABNB) from Overweight to Sector Weight, citing concerns over decelerating growth and elevated risks. Patterson believes that Airbnb's margins have peaked and revenue growth could slow down. He also lowered his EBITDA forecasts for 2023, 2024, and 2025 by 1%, 8%, and 5% respectively, reflecting more modest bookings growth. Following the downgrade, ABNB shares traded lower by 5.28%.

Portfolio Pulse from Anusuya Lahiri

October 03, 2023 | 4:40 pm

RIG

Josh Brown, a regular CNBC contributor, has sold his shares in Transocean (RIG).

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 4:38 pm