Streetbeat News

Stock Prices

ESNT

FIVN

HOOD

LMT

Top Wall Street analysts have upgraded their ratings for several major companies. RBC Capital upgraded Lockheed Martin (LMT) to Outperform with a price target of $600. Citigroup upgraded Robinhood Markets (HOOD) to Neutral with a price target of $18. Keefe, Bruyette & Woods upgraded Essent Group (ESNT) to Outperform with a price target of $70. B of A Securities upgraded Five9 (FIVN) to Buy with a price target of $63. JP Morgan upgraded Celanese Corporation (CE) to Neutral but lowered the price target to $130.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 1:42 pm

BITO

CLSK

COIN

IBIT

MARA

MSTR

RIOT

Crypto stocks, including Coinbase, Marathon Digital, Riot Platforms, CleanSpark, and MicroStrategy, plummeted as Bitcoin dipped below $50K, triggering a $270B market value decline. Ethereum also saw significant losses. The broader market sell-off was driven by recession fears and a weaker-than-expected jobs report.

Portfolio Pulse from Anusuya Lahiri

August 05, 2024 | 1:41 pm

HITI

High Tide Inc. (NASDAQ:HITI) announced the closing of a $10.8 million subordinated debt facility. The debentures will mature in 2029 with a 12% annual interest rate. The funds will be used for debt repayment, business development, and working capital. High Tide's shares fell 4.62% in pre-market trading.

Portfolio Pulse from Jelena Martinovic

August 05, 2024 | 1:36 pm

TLT

Goldman Sachs has raised the odds of a U.S. recession, leading to a significant drop in global financial markets. U.S. Treasury yields have tumbled, and the Japanese yen has rallied as traders bet on heavy Federal Reserve rate cuts. The iShares 20+ Year Treasury Bond ETF (TLT) has seen gains amid the market turmoil.

Portfolio Pulse from Piero Cingari

August 05, 2024 | 1:32 pm

NVDA

SNAP

TMUS

The Nasdaq Composite closed sharply lower, with notable insider sales from Snap Inc., NVIDIA Corporation, and T-Mobile US. Insider sales can indicate concerns about company prospects or overvaluation. Snap's General Counsel sold 15,000 shares, NVIDIA's CEO sold 240,000 shares, and T-Mobile's President of Consumer Group sold 10,000 shares.

Portfolio Pulse from Avi Kapoor

August 05, 2024 | 1:30 pm

GAP

PVH

Bangladesh's Prime Minister Sheikh Hasina has resigned and fled the country amid violent protests, leading to a significant drop in the shares of luxury brands that rely on Bangladesh for product sourcing. PVH Corp., Ralph Lauren Corp., and The Gap, Inc. have all seen their stock prices decline in pre-market trading due to concerns over supply chain disruptions.

Portfolio Pulse from Benzinga Neuro

August 05, 2024 | 1:26 pm

DIA

IWM

QQQ

SPY

Major indexes are experiencing a downturn due to a selloff in tech stocks and concerns over an economic slowdown following recent US economic data.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 1:25 pm

AAPL

CORN

INTC

LOT

MADE

NVDA

QQQ

TSLA

WAY

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 1:24 pm

SAH

Sonic Automotive (NYSE:SAH) reported a Q2 revenue decline of 5.5% YoY to $3.453 billion, missing estimates. Despite this, the company beat EPS expectations with $1.47 per share. The Franchised Dealerships segment saw declines in same-store revenues and gross profit, while the EchoPark segment showed significant growth in gross profit and adjusted EBITDA. Operational disruptions due to a CDK outage negatively impacted GAAP income by $30 million. Sonic approved a quarterly dividend of $0.30 per share and maintained positive guidance for EchoPark's adjusted EBITDA for the rest of 2024. SAH shares traded lower by 2.31% premarket.

Portfolio Pulse from Akanksha Bakshi

August 05, 2024 | 1:19 pm

PLTR

Palantir Technologies Inc (NYSE:PLTR) is set to report its Q2 earnings after the market close on Monday. The company is expected to report earnings of 8 cents per share and revenue of $652.141 million. Palantir has shown consistent GAAP profitability and significant customer growth. Analyst Dan Ives has set a bull-case price target of $50, citing the company's potential in AI and government deals. Palantir shares are down 12.6% at $21.62 ahead of the earnings report.

Portfolio Pulse from Adam Eckert

August 05, 2024 | 1:18 pm