Streetbeat News

Stock Prices

SPY

The Dallas Fed's Trimmed Mean PCE Price Index rose 1.4% annualized in May, down from 2.7% in April. This indicates a slowdown in inflationary pressures.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:28 pm

ARRY

ENPH

FSLR

LCID

PSNY

RIVN

RUN

SPWR

Shares of EV, solar, and clean energy stocks are trading lower, possibly in reaction to Thursday's presidential debate.

Portfolio Pulse from Bill Haddad

June 28, 2024 | 5:27 pm

SAVA

Cassava Sciences shares were halted to the downside, with the stock experiencing a significant drop of 20.26%.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:26 pm

AMD

IVW

NVDA

TSM

VGT

The semiconductor industry, led by Nvidia (NVDA) and AMD (AMD), saw a recovery after a Thursday pullback, driven by ongoing AI enthusiasm. TSMC (TSM) received government approval for $10.26 billion to build additional fabs in Japan and Arizona. Nvidia and AMD have nearly booked TSMC's 3nm process to full capacity through 2026. Nvidia's stock has surged 205% in the last 12 months, while AMD's stock has gained 48%. Investors can gain exposure to Nvidia via ETFs like VGT and IVW.

Portfolio Pulse from Anusuya Lahiri

June 28, 2024 | 5:25 pm

BTI

OLN

SWBI

The U.S. Supreme Court has overturned the Chevron doctrine, a 40-year-old decision that allowed the executive branch to interpret ambiguous congressional statutes. This ruling could destabilize the legal system, according to the Biden administration. Stocks of companies in the gun, tobacco, and timber industries had mixed reactions to the news.

Portfolio Pulse from Michael Juliano

June 28, 2024 | 5:25 pm

RIVN

VLKAF

Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive, Inc. (NASDAQ:RIVN), raising the price forecast to $20 from $13. Pierce sees Rivian as a long-term winner in the EV transition, highlighting its strategic focus on cost savings, supplier relationships, and factory efficiencies. The recent Volkswagen JV is expected to provide up to $5 billion in capital, boosting Rivian's software-defined vehicle strategy. Pierce also raised the FY24 revenue forecast to $4.563 billion from $4.254 billion. Despite these positive outlooks, RIVN shares are trading lower by 7% to $13.46.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2024 | 5:23 pm

LULU

NKE

Lululemon Athletica Inc. (NASDAQ:LULU) shares are trading lower in sympathy with Nike, Inc. (NYSE:NKE), which fell after reporting worse-than-expected Q4 revenue and weak forward guidance. Nike's CFO revised the company's outlook for fiscal 2025 lower, anticipating a mid-single-digit decline in reported revenue. Lululemon's recent earnings beat expectations, but the company provided soft second-quarter guidance.

Portfolio Pulse from Erica Kollmann

June 28, 2024 | 5:16 pm

NFLX

Recent options activity for Netflix (NASDAQ:NFLX) shows a bearish sentiment among large investors, with 45% of trades being bearish. The stock is currently trading at $675.38, down by 1.31%. Analysts have mixed ratings with a consensus target price of $719.0.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 5:16 pm

GME

Financial giants are making significant bullish moves on GameStop (NYSE:GME) options, with 13 unusual trades detected. The majority of these trades are calls, indicating a positive sentiment. The expected price range for GME is between $20.0 and $30.0. Current trading volume is high, but the stock is slightly down. An analyst from Wedbush maintains an Underperform rating with a price target of $11.0.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 5:16 pm

MRNA

Moderna, Inc. (NASDAQ:MRNA) stock is trending on Friday following the European Medicines Agency’s positive opinion on its RSV vaccine, mRNA-1345, for adults aged 60 and older. The vaccine showed an efficacy rate of 83.7% in a Phase 3 trial. Analysts have recently adjusted their price targets for Moderna.

Portfolio Pulse from Dylan Berman

June 28, 2024 | 5:15 pm