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Indexes and gold prices have pulled back after the Federal Reserve decided to leave interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:02 pm

SPY

The Federal Reserve has decided to maintain the interest rate paid on reserve balances at 5.4% and the federal funds rate in a target range of 5.25% to 5.5%. The Fed will also conduct various open market operations and reinvestments to manage liquidity and monetary policy.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:01 pm

GM

15 analysts have recently evaluated General Motors (NYSE:GM), with a mix of bullish and bearish perspectives. The average 12-month price target is $54.87, reflecting a 4.14% increase from the previous average. Analysts have raised their price targets, indicating positive sentiment. GM's financial performance shows strong net margins, ROE, and ROA, but a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:01 pm

STT

Five analysts have recently published ratings on State Street (NYSE:STT), ranging from bullish to indifferent. The average 12-month price target is $87.2, with a high of $90.00 and a low of $82.00. Analysts have maintained or raised their ratings and price targets, reflecting a positive sentiment. State Street's financial metrics, such as revenue growth, net margin, ROE, ROA, and debt management, show mixed performance compared to industry benchmarks.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:00 pm

SPY

The Federal Reserve's FOMC statement for June 12, 2024, indicates that economic activity continues to expand, job gains remain strong, and inflation has eased but is still elevated. The Fed decided to maintain the federal funds rate at 5.25% to 5.5% and will continue reducing its holdings of Treasury securities and agency debt. The Committee remains vigilant about inflation risks and will adjust monetary policy as needed.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:00 pm

EXPD

Analysts have provided mixed ratings for Expeditors Intl (NYSE:EXPD) over the past quarter, with a majority being indifferent. The average 12-month price target has increased by 4.91% to $119.6. Key analysts have raised their price targets, reflecting a cautious optimism. Despite a recent revenue decline, the company shows strong profitability and effective debt management.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:00 pm

VRNS

Varonis Systems (NYSE: VRNS) has seen a 10.39% increase in its short percent of float, now at 9.56%. This is higher than its peers' average of 4.58%. It would take traders 7.43 days to cover their short positions. Increased short interest can indicate bearish sentiment but can also be bullish if the stock price rises.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 6:00 pm

SPY

The Federal Reserve has decided to leave the key overnight interest rate unchanged, signaling a cautious approach to monetary policy amid economic uncertainties.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:00 pm

SUM

Summit Materials (NYSE:SUM) has seen a 3.52% increase in its short percent of float, now at 3.82% of all regular shares available for trading. This is higher than the peer group average of 2.00%. It would take traders 4.64 days to cover their short positions on average.

Portfolio Pulse from Benzinga Insights

June 12, 2024 | 5:45 pm

LUV

Artisan Partners Global Value Team has sent a letter to the Board of Directors of Southwest Airlines (NYSE:LUV), urging the board to reconstitute itself and upgrade the company's leadership. Artisan Partners holds over 10.8 million shares of Southwest Airlines, representing approximately 1.82% of the company's outstanding shares. The letter aligns with recent calls from Elliott Investment Management for significant changes in Southwest's management.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:44 pm