Streetbeat News

Stock Prices

SETM

SPXS

SPY

Economist Larry Summers has criticized President Biden's economic policies, warning they could lead to inflation and negatively impact the US economy. Summers expressed concerns about the administration's stance on trade, support for US manufacturing, and approach to antitrust measures. The White House defended its strategy, emphasizing that Biden's investments in infrastructure, clean energy, and semiconductors aim to enhance economic resilience. Biden's economic stance may benefit stocks pivotal to the EV battery supply chain, wind, and solar energy industries, such as those held in the Sprott Energy Transition Materials ETF (SETM). However, if the economy suffers, ETFs that follow bearish moves in the SPDR S&P 500 (SPY), such as the Direxion Daily S&P 500 Bear 3X (SPXS) could prove a solid play.

Portfolio Pulse from Melanie Schaffer

July 28, 2023 | 12:27 pm

PLTR

Shares of Palantir Technologies, Inc. (NYSE:PLTR) surged in premarket trading after Wedbush analyst Daniel Ives initiated coverage of the stock with a bullish recommendation. Ives gave Palantir an Outperform rating and a $25 price target, suggesting a 55% upside from current levels. He praised Palantir's AI capabilities and its potential to capitalize on new use cases in the next six-12 months.

Portfolio Pulse from Shanthi Rexaline

July 28, 2023 | 12:23 pm

LUV

Southwest Airlines reported Q2 FY23 operating revenue growth of 4.6% YoY to $7.04 billion, beating consensus of $6.98 billion. However, adjusted EPS was $1.09, missing the consensus of $1.10. Following the results, several analysts including Deutsche Bank, Raymond James, Barclays, and B of A Securities downgraded the stock and lowered their price targets. Southwest shares fell 8.9% to close at $33.02 on Thursday.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 12:23 pm

LI

NIO

XPEV

Chinese electric vehicle (EV) companies Nio, XPeng, and Li Auto are seeing their stocks rise, driven by the Chinese government's economic support and partnerships with Volkswagen and potentially Mercedes-Benz. Morgan Stanley analyst Tim Hsiao has raised the price targets for these companies, citing anticipated improvements in fundamentals in the second half.

Portfolio Pulse from Shanthi Rexaline

July 28, 2023 | 12:11 pm

CVX

PDCE

Chevron Corp reported Q2 FY23 total revenues of $48.896 billion, beating the consensus of $48.80 billion. However, sales and other operating revenues fell to $47.2 billion from $65.4 billion a year ago, mainly due to lower commodity prices. Adjusted net earnings were $5.78 billion, with Adjusted EPS being $3.08, missing the consensus of $3.28. The company declared a quarterly dividend of $1.51 per share. Chevron also held cash and equivalents of $9.6 billion as of June 30, 2023.

Portfolio Pulse from Lekha Gupta

July 28, 2023 | 12:08 pm

TGL

Treasure Global's CEO has purchased 101,096 shares of the company. This move could indicate the CEO's confidence in the company's future performance.

Portfolio Pulse from Bill Haddad

July 28, 2023 | 12:05 pm

FIXX

In the last quarter, Homology Medicines (NASDAQ:FIXX) received two bullish and two indifferent analyst ratings. Over the past three months, four analysts have offered 12-month price targets for the company, with an average price target of $7.62, representing a 10.35% decrease from the previous average price target of $8.50.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 12:01 pm

VLY

Analysts have provided ratings for Valley Ntl (NASDAQ:VLY) within the last quarter, with one somewhat bullish rating and three indifferent ratings. The average price target is $9.25, which is lower than the current price of $10.04, implying a downside. This average price target has increased by 2.78% over the past month.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 12:01 pm

SAM

Boston Beer Co (NYSE:SAM) has received mixed analyst ratings in the last quarter, with 1 bullish, 4 indifferent, and 1 bearish. The average price target is $331.17, indicating an upside from the current price of $313.52. The average price target has increased by 10.3% over the past month.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 12:00 pm

IART

Over the last quarter, Integra Lifesciences (NASDAQ:IART) has received mixed analyst ratings. The average price target is $49.89, which is higher than the current price of $44.54. However, this represents an 11.89% decrease from the previous average price target of $56.62.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 12:00 pm