Streetbeat News

Stock Prices

GOOGL

Citigroup analyst Ronald Josey has reaffirmed a Buy rating on Alphabet Inc. (NASDAQ:GOOGL) and increased the price target from $153 to $168. This adjustment reflects Citigroup's continued confidence in Alphabet's performance and future prospects.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:21 pm

IWM

SPY

The Federal Reserve kept interest rates unchanged at 5.25-5.5% during its first 2024 meeting, signaling an end to the rate hiking cycle. The Fed's statement omitted references to future hikes and dampened expectations for near-term rate cuts, stating a reduction would only be considered once there is greater confidence in inflation moving sustainably toward 2%. Market reactions included a slight rise in the dollar, a marginal decline in stocks, and a decrease in the probability of a March rate cut from 54% to 46%. The SPDR S&P 500 ETF Trust (SPY) and iShares Russell 2000 ETF (IWM) saw slight declines, while Bitcoin also fell.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 7:19 pm

RBLX

Wedbush analyst Nick McKay has reiterated an Outperform rating on Roblox Corp (NYSE:RBLX) with a $53 price target. McKay expects Q4 upside for Roblox due to gift cards, new platforms, and product innovations. He acknowledges the risk from Epic Games' Fortnite but believes Roblox's monetization expertise and absence of Fortnite on mobile platforms limit the impact. McKay is optimistic about Roblox's long-term growth and margin expansion, citing upgrades to the game's economy, advertising opportunities, and cost discipline. His Q4 estimates for bookings and adjusted EBITDA are slightly different from consensus, and he expects Roblox to exceed margin levels. RBLX shares traded slightly lower at $39.11.

Portfolio Pulse from Anusuya Lahiri

January 31, 2024 | 7:18 pm

AAPL

Rosenblatt analyst Barton Crockett has reiterated a Neutral rating on Apple Inc. (NASDAQ:AAPL) and maintained a price target of $189.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:16 pm

MANH

Truist Securities analyst Terry Tillman has reaffirmed a Buy rating on Manhattan Associates (NASDAQ:MANH) and increased the price target from $240 to $260.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:15 pm

MOD

EF Hutton analyst Tim Moore has reaffirmed a Buy rating on Modine Manufacturing (NYSE:MOD) and increased the price target from $57 to $73, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:09 pm

DIA

IWM

QQQ

SPY

Major stock indexes declined following the Federal Reserve's decision to leave interest rates unchanged.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:08 pm

CMCSA

Over the past 15 years, Comcast (NASDAQ:CMCSA) has produced an average annual return of 13.58%, outperforming the market. A $100 investment in CMCSA 15 years ago would be worth $659.53 today. The company's current market capitalization is $187.69 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 7:06 pm

SPY

The Federal Open Market Committee (FOMC) has observed that inflation has eased over the past year but remains at an elevated level. This assessment may influence the FOMC's future interest rate decisions, which are closely watched by investors as they can affect the overall market and specific asset classes.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:04 pm

SPY

The Federal Open Market Committee (FOMC) has reiterated its strong commitment to bringing inflation back to its 2% target. This statement underscores the FOMC's ongoing focus on inflation control, which may involve continuing the current trend of interest rate hikes to manage economic growth and price stability.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:04 pm