Streetbeat News

Stock Prices

ACGL

Arch Capital Group's (NASDAQ:ACGL) short percent of float has fallen 26.38% since its last report, with 3.83 million shares sold short, which is 1.2% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. Compared to its peers, Arch Capital Group has less short interest.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 3:30 pm

UNF

Unifirst reported worse-than-expected Q3 EPS results and issued FY23 EPS guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:30 pm

SIRI

Sirius XM holding shares are trading higher after Benchmark reiterated a Buy rating and a $6 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:28 pm

NET

Cloudflare's stock is trading higher following Baird's decision to maintain an Outperform rating on the stock and increase its price target from $59 to $64.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:24 pm

BAC

C

GS

JPM

MS

WFC

The Federal Reserve is set to release the results of its annual stress test on Wednesday. The test is designed to determine if the nation’s largest banks can withstand a severe economic downturn. This year's scenario includes a steeper rise in unemployment and sharper decline in home prices. Despite the more severe scenarios, all 23 banks undergoing the tests are expected to pass due to their strong capitalization. However, the adverse scenario could result in steeper loan losses for banks due to their commercial real estate exposure, leading the Fed to impose tougher capital requirements on some banks. The stocks of major US banks such as JPMorgan Chase & Co., Bank of America Corp, Citigroup Inc., Wells Fargo & Co., Goldman Sachs Group Inc., and Morgan Stanley could be affected.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 3:20 pm

SPY

UUP

The four major global central bankers convened in Portugal for the ECB Forum, where they agreed on the need for more rate hikes to combat inflation. Fed Chair Jerome Powell stated that a strong labor market is a key reason for the Fed's hawkish position and did not rule out consecutive rate hikes. The dollar rose, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), while the S&P 500 Index, represented by the SPDR S&P 500 ETF Trust (SPY), remained flat.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 3:19 pm

ALB

A significant bearish stance has been taken on Albemarle (NYSE:ALB) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $90.0 to $320.0 for Albemarle over the last 3 months. Currently, ALB's price is down -1.47% at $223.74. Keybanc maintains an Overweight rating on Albemarle with a price target of $291, while Citigroup downgraded its action to Buy with a price target of $260.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 3:18 pm

GENK

Shares of GEN Restaurant Group opened for trade at $18.30 per share, significantly higher than its IPO price of $12 per share.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 3:12 pm

AMD

BABA

NVDA

President Biden is set to impose new restrictions on the export of artificial intelligence chips to China, impacting stocks of Chinese AI companies and US companies like NVIDIA and AMD. The news has led to a 3.5% drop in NVIDIA's stock and a 3% drop in AMD's stock. Despite the AI frenzy, AMD's stock has lost about 20% from its peak. The 'magnificent seven' (Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla) continue to perform and are responsible for a majority of the stock market gain in 2023.

Portfolio Pulse from The Arora Report

June 28, 2023 | 3:12 pm

CCL

CUK

Carnival shares are experiencing volatility following the company's earnings report on Monday. The stock is currently trading higher.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 3:09 pm