Streetbeat News

Stock Prices

LMT

Investors have shown a bullish stance on Lockheed Martin (NYSE:LMT), with significant options trading activity indicating a price target range of $230 to $500 over the next three months. The trading volume and open interest in LMT's options have seen notable developments, with a mix of bullish, bearish, and neutral sentiments among the trades. Lockheed Martin, the world's largest defense contractor, has seen its stock price slightly increase by 0.16% to $464.62. An analyst from JP Morgan has upgraded LMT to Overweight with a price target of $518.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 4:16 pm

CSCO

Recent analysis of Cisco Systems's (NASDAQ:CSCO) options market shows a bearish sentiment among whales, with 50% of trades being bearish and 40% bullish. The trades range between puts and calls, targeting a price range of $42.5 to $52.5. Notable trades include both bullish and bearish sweeps with varying strike prices and expiration dates. Cisco Systems, a leading networking equipment and software provider, is currently trading at $48.57, with an RSI indicating a neutral position. An earnings announcement is expected in 23 days.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 4:15 pm

VNDA

Vanda Pharmaceuticals' shares dropped following the US Supreme Court's decision not to hear its case on the invalidation of patents for Hetlioz.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:15 pm

VNDA

Vanda Pharmaceuticals' shares increased in value following the US Supreme Court's decision not to hear the company's case on the invalidation of patents for Hetlioz.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:12 pm

HBAN

KRE

MCB

Regional bank stocks, represented by the SPDR S&P Regional Banking ETF (KRE), have rebounded from the 200-day moving average support, driven by strong Q1 2024 earnings reports. Despite the recovery, they remain nearly 20% below pre-March 2023 levels. Analysts highlight the sector's potential in a higher rate environment, with Metropolitan Bank (MCB) and Huntington Bancshares (HBAN) standing out for their performance and positive financial outlooks. MCB's shares surged 14% with a revised EPS estimate for 2024 and 2025, while HBAN's shares increased by over 6%, supported by solid first-quarter results.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 4:10 pm

ACI

HEPA

MLEC

MTTR

NIVF

VAXX

WRNT

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Albertsons Companies Inc reported upbeat fourth-quarter earnings, while Matterport, Inc announced a significant acquisition deal by CoStar Group, causing its shares to spike. Other notable movements included Moolec Science SA and NewGenIvf Group Limited experiencing substantial share increases, whereas Vaxxinity, Inc, Hepion Pharmaceuticals, Inc, and Warrantee Inc faced sharp declines.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 4:07 pm

TEVA

VNDA

The U.S. Supreme Court declined to hear Vanda Pharmaceuticals' appeal to revive patents for Hetlioz, a sleep-disorder drug, after they were declared invalid in a dispute with Teva and Apotex. The patents were invalidated by the U.S. Court of Appeals for the Federal Circuit, which upheld a decision based on the obviousness of the patents. Vanda's sales of Hetlioz exceeded $100 million in 2023. The decision allows Teva and Apotex to proceed with generic versions of the drug.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:05 pm

TSLA

XPEV

XPeng Inc. (NYSE:XPEV) shares are trading lower after Tesla, Inc. (NASDAQ:TSLA) and Li Auto, Inc. (NASDAQ:LI) announced price cuts on their electric vehicles in China. Tesla reduced prices on several models and its Full Self-Driving software in the U.S., while Li Auto cut prices by about 5% on multiple models in China. XPeng's stock is trading below its 50-day moving average and hit a new 52-week intraday low. The article also discusses the difficulty in predicting long-term stock prices but notes XPeng's annualized stock performance over the past 5 years is -20.05%.

Portfolio Pulse from Erica Kollmann

April 22, 2024 | 4:04 pm

HUT

Hut 8 Corp (NASDAQ:HUT) has merged with US Bitcoin Corporation (USBTC), closing in November 2023. This merger is seen positively by Benchmark analyst Mark Palmer, who initiated coverage with a Buy rating and a $12 price target. The merger is expected to provide diversified revenue streams and increase profitability for Hut 8, especially as the company focuses on expanding its energy capacity and halting the purchase of new mining rigs in anticipation of more efficient technology. Shares of Hut 8 rose by 9.56% to $8.83 following the announcement.

Portfolio Pulse from Priya Nigam

April 22, 2024 | 4:02 pm

Over the past 10 years, Morgan Stanley (NYSE:MS) has produced an average annual return of 11.58%, outperforming the market by 1.37% annually. A $100 investment in MS a decade ago would now be worth $304.50. The company's current market capitalization stands at $148.54 billion.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 4:01 pm