Streetbeat News

Stock Prices

PCAR

PACCAR shares are trading lower after Truist Securities maintained a Hold rating on the stock and lowered its price target from $115 to $107. The stock is also reacting to worse-than-expected Q2 financial results reported by the company.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:31 pm

H

HLT

MAR

Shares of Marriott International (MAR), Hilton Hotels Corporation (HLT), and Hyatt Hotels Corporation (H) are trading lower due to impending strike authorization votes by 13,500 unionized hotel workers in four U.S. cities. The workers are demanding significant pay raises, better healthcare, and pension plans, and the reversal of pandemic-era cuts.

Portfolio Pulse from Shivani Kumaresan

July 24, 2024 | 2:31 pm

FTV

Fortive shares are trading lower after the company reported worse-than-expected Q2 sales results and issued FY24 sales guidance below estimates.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:31 pm

SLAB

Silicon Laboratories Inc. (NASDAQ: SLAB) reported fiscal Q2 2024 sales of $145.37 million, down 40.6% YoY but beating the analyst consensus estimate. The company also reported an adjusted EPS loss of 56 cents, better than the expected loss of 64 cents. Despite a decline in margins and revenue, CEO Matt Johnson expects revenue growth in Q3 as inventory reduces and bookings improve. The company projects Q3 revenue of $160 million - $170 million, below the consensus of $172.76 million, and an adjusted EPS loss of 10 cents - 30 cents, against the consensus loss estimate of 18 cents. SLAB shares have plunged over 25% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

July 24, 2024 | 2:30 pm

SPY

UNG

USA gasoline inventories saw a significant draw of 5.572 million barrels, compared to a prior build of 3.328 million barrels. This unexpected draw could impact energy-related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:30 pm

SPY

USO

The EIA reported a weekly draw of 2.753 million barrels in distillate stocks, contrasting with the previous week's build of 3.454 million barrels.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:30 pm

ICLR

Icon (NASDAQ:ICLR) has significantly outperformed the market over the past 15 years, with an average annual return of 19.57%. A $100 investment in ICLR 15 years ago would be worth $1,480.44 today. The article highlights the power of compounded returns.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:30 pm

LHX

L3Harris Technologies (NYSE:LHX) has outperformed the market over the past 20 years with an average annual return of 12.15%, resulting in a $1000 investment growing to $10,021.06. The company currently has a market capitalization of $45.12 billion.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:30 pm

SPY

USO

USA crude oil inventories saw a draw of 3.741 million barrels, which is larger than the estimated draw of 2.600 million barrels and the prior draw of 4.870 million barrels. This indicates a higher-than-expected reduction in crude oil supply.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:30 pm

SPOT

Spotify Technology shares are trading higher following multiple firms raising their price targets on the stock. This comes after Spotify reported better-than-expected Q2 EPS results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:29 pm