Streetbeat News

Stock Prices

LFWD

Trading status for LFWD was updated at 8:55:00 AM ET, indicating a resumption of quotations, news, and trading times.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 12:55 pm

CMI

UBS analyst Steven Fisher upgrades Cummins (NYSE:CMI) from Neutral to Buy and raises the price target from $254 to $321.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 12:52 pm

CPRT

GRIN

SMR

TNC

As of March 15, 2024, five industrials sector stocks are considered overbought based on their RSI values, indicating potential short-term performance issues. These include Grindrod Shipping Holdings Ltd. (GRIN), NuScale Power Corporation (SMR), Copart, Inc. (CPRT), General Electric Company (GE), and Tennant Company (TNC), each showing significant price movements and corporate developments.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 12:50 pm

BYDDY

HMC

NSANY

Nissan Motor Co., Ltd (OTC:NSANY) and Honda Motor Co., Ltd (NYSE:HMC) have announced a strategic partnership focusing on vehicle electrification and intelligence to achieve carbon neutrality and zero traffic-accident fatalities. This collaboration includes a feasibility study on automotive software platforms, EV components, and complementary products. Amidst tough competition in China and declining sales, both companies are considering production cutbacks, contrasting with BYD Company's (OTC:BYDDY) expansion in Japan. Honda aims for carbon neutrality by 2050 with a plan to sell only electrified cars by 2040, while Nissan targets carbon neutrality across its product lifecycle by 2050. Additionally, Honda's stock is currently trading above its 200-day moving average, indicating a bullish signal for investors.

Portfolio Pulse from Shivani Kumaresan

March 15, 2024 | 12:50 pm

AVGO

BWA

KHC

WDAY

Insiders at Broadcom, Kraft Heinz, BorgWarner, and Workday have recently sold shares, indicating potential concerns or views of overvaluation. Workday's insider sold shares after upbeat earnings, Broadcom's insider sold following earnings beat, BorgWarner's insider sold after a new VP appointment, and Kraft Heinz's insider sold after reporting weaker-than-expected sales.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 12:50 pm

SMAR

Smartsheet Inc. (NYSE:SMAR) reported Q4 results surpassing market estimates with adjusted earnings of 34 cents per share and quarterly sales of $256.900 million. However, the company's FY25 revenue forecast fell short of expectations, leading to a 10.4% drop in pre-market trading. Analysts from Keybanc, Barclays, Oppenheimer, Wells Fargo, and Jefferies adjusted their price targets on Smartsheet following the earnings announcement.

Portfolio Pulse from Avi Kapoor

March 15, 2024 | 12:48 pm

AAL

ALK

JETS

LUV

A LATAM flight's nosedive, initially feared to be a Boeing 787 Dreamliner malfunction, was likely caused by a cockpit seat mishap. A flight attendant accidentally activated a switch, pushing the pilot into the controls. Boeing, already under scrutiny for a separate incident with an Alaska Airlines Boeing 737 Max 9, saw its shares drop 30% since the year's start. Airline stocks, including Southwest Airlines and American Airlines, have also suffered, with the U.S. Global Jets ETF experiencing a decline.

Portfolio Pulse from Neil Dennis

March 15, 2024 | 12:46 pm

AVD

American Vanguard's shares are trading higher following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 12:45 pm

NVDA

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSM) has seen its shares soar over 110% since October 2022, largely due to the AI boom and its role as a key supplier to Nvidia Corp (NVDA). Despite AI contributing only 6% to TSMC's total revenue in 2023, the company expects AI revenue to grow at an annual rate of 50%, aiming for it to represent a high-teen percentage of total revenue by 2027. TSMC is expanding globally, with new plants in the US, Japan, and Germany, to meet demand from tech giants like Amazon.com Inc (AMZN) and Microsoft Corp (MSFT). Apple Inc (AAPL) is also developing processors using TSMC's 2-nanometer fabrication process. However, overbought signals and geopolitical tensions pose risks. TSMC and Samsung Electronics Co (SSNLF) are set to receive significant funds from the US under the 2022 Chips and Science Act. Investors can gain exposure to TSMC through the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX). TSM shares traded lower by 2.16% to $136.60 premarket.

Portfolio Pulse from Anusuya Lahiri

March 15, 2024 | 12:44 pm

ADBE

CLDX

MDGL

Madrigal Pharmaceuticals (MDGL) shares surged 28% following FDA approval of Rezdiffra for NASH treatment. Cardlytics (CLDX) shares jumped 53% after reporting strong Q4 revenue and optimistic Q1 guidance, with Needham maintaining a Buy rating and raising the price target. Adobe (ADBE) shares fell 12% due to disappointing Q1 results and weak future guidance, alongside multiple firms reducing their price targets.

Portfolio Pulse from ryanfaloona@benzinga.com

March 15, 2024 | 12:36 pm