Streetbeat News

Stock Prices

GS

JPM

MS

Goldman Sachs Group Inc's Q2 earnings fell short of expectations with a 60% YoY drop, marking its worst quarterly profits since the early stages of the pandemic in 2020. The bank's profit drop was primarily due to its retrenchment from consumer businesses and declining real estate investments. Despite the slump, CEO David Solomon remained optimistic about the bank's strategic decisions and the potential recovery of investment banking and mergers and acquisitions.

Portfolio Pulse from AJ Fabino

July 19, 2023 | 6:33 pm

UPS

A significant bearish stance has been taken on United Parcel Service (NYSE:UPS) as indicated by unusual options activity. The sentiment among big-money traders is 75% bearish and 25% bullish. Whales have been targeting a price range from $165.0 to $210.0 for UPS over the last 3 months. Morgan Stanley has downgraded UPS to Underweight with a price target of $100.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:31 pm

NKE

QQQ

SPY

T

TSLA

Benzinga's experiment, 'Is ChatGPT A Better Financial Advisor?' is in its tenth week. The AI-curated portfolio, which started with a hypothetical $10,000, is compared against leading U.S. equity funds. The portfolio's performance is competitive, with Tesla Inc (NASDAQ:TSLA) being the top performer, up 76.86% since the position was opened. The biggest laggard is AT&T Inc (NYSE:T), with shares down 12.52% since the position was taken.

Portfolio Pulse from AJ Fabino

July 19, 2023 | 6:26 pm

CVX

A significant investor has taken a bearish stance on Chevron (NYSE:CVX), with 54% of investors opening trades with bearish expectations. The whales have been targeting a price range from $150.0 to $185.0 for Chevron over the last 3 months. The price of CVX is up 0.62% at $154.7. Citigroup, Raymond James, Mizuho, and Morgan Stanley have maintained their ratings on Chevron with price targets of $170, $200, $205, and $197 respectively.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

MRNA

A whale investor has taken a bearish stance on Moderna (NASDAQ:MRNA), with 80% of the spotted trades being bearish. The whales have been targeting a price range from $90.0 to $135.0 for Moderna over the last 3 months. HSBC has downgraded its action to Reduce with a price target of $97, while UBS upgraded its action to Buy with a price target of $191. Morgan Stanley has maintained their Equal-Weight rating on Moderna, with a price target of $128.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

ENPH

A significant amount of unusual options activity has been detected for Enphase Energy (NASDAQ:ENPH), with a bearish stance being taken by a majority of investors. Whales have been targeting a price range from $125.0 to $490.0 for Enphase Energy over the last 3 months. The company's stock price is currently up 0.75% at $185.43. Analysts from Barclays, Oppenheimer, Goldman Sachs, Truist Securities, and B. Riley Securities have provided their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

STZ

Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on Constellation Brands Inc (STZ) with a price target of $290. The company has entered into an information-sharing agreement with Elliott Investment Management L.P. and appointed two new independent directors. The analyst believes the collaboration with Elliott could accelerate the re-rating and increase the probability of a short-term bull-case for STZ. The agreement is seen as a step to improve governance and distance the company from its historical poor capital allocation.

Portfolio Pulse from Shivani Kumaresan

July 19, 2023 | 6:13 pm

ARBK

BRPHF

Argo Blockchain (NASDAQ:ARBK) has raised nearly $7.5 million through a new share sale, which will be used to reduce the company's existing debt. The shares sold represent about 12% of the company's market capitalization before the sale. The company managed to avoid bankruptcy by selling its Helios mining facility to Galaxy Digital for $65 million and securing a $35 million loan from Galaxy Digital Holdings Ltd (OTC:BRPHF).

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:13 pm

AMZN

GOOG

MSFT

QQQ

Amazon Inc's stock rose by nearly 2% on Wednesday, outperforming other mega-cap tech stocks like Alphabet Inc and Microsoft Corp, despite no specific company news and a general weakness in the tech sector. The Invesco QQQ Trust Series 1, which tracks 100 of the biggest NASDAQ-listed companies, was trading down slightly. Amazon's recent Prime Day event and a summer heat wave driving up sales of cooling products may have contributed to the stock's performance.

Portfolio Pulse from Aaron Bry

July 19, 2023 | 6:12 pm

SPLK

BMO Capital and Truist analysts have reiterated their Buy ratings on Splunk Inc (NASDAQ:SPLK), with price targets of $117.00 and $130.00 respectively. The analysts highlighted the improved integration of Splunk's observability solution and the launch of the Splunk AI assistant. Despite pricing frustrations, all companies renewed with Splunk. The company's multiple growth levers, operational efficiencies, and upcoming renewal conversations provide expansion opportunities.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 6:11 pm