Streetbeat News

Stock Prices

PGR

Over the past 15 years, Progressive (NYSE:PGR) has significantly outperformed the market, yielding an average annual return of 19.06%. A $1000 investment in PGR 15 years ago would now be worth $14,144.04. Progressive's market capitalization currently stands at $103.52 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:00 pm

QRVO

Qorvo's stock is trading higher following the announcement of its Q3 financial results, which exceeded expectations. Additionally, the company has provided guidance and announced its plans to acquire Anokiwave.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:58 pm

BTCUSD

Macro investor Raoul Pal predicts a 60% chance that Bitcoin could reach $150,000, with a 20% chance of peaking more rapidly and then declining, and another 20% chance of reaching $250,000. This analysis follows the approval of a Bitcoin ETF, which saw an initial price drop in Bitcoin. Pal attributes this to the market needing time to absorb new capital and highlights the millennial cohort as significant, stable investors in Bitcoin. He also notes a shift in the investor base towards a more finance-oriented crowd, which could reduce Bitcoin's volatility.

Portfolio Pulse from Murtuza Merchant

February 01, 2024 | 7:50 pm

BDX

Becton, Dickinson and Company (NYSE:BDX) reported Q1 2024 earnings with an adjusted EPS of $2.68, surpassing the consensus of $2.40, but slightly missed revenue expectations with $4.71 billion against a consensus of $4.73 billion. The company's medical and interventional segments saw growth, while life sciences revenue declined. BD raised its fiscal year 2024 revenue and EPS guidance, with William Blair maintaining an Outperform rating due to confidence in BD's long-term margin expansion and achievement of its 2025 goals. BDX shares rose 1.01% to $241.23.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 7:49 pm

KRE

MCB

NYCB

VLY

WAL

Regional bank stocks, including New York Community Bancorp Inc (NASDAQ:NYCB), are experiencing significant declines after NYCB reported disappointing financial results and cut its quarterly dividend. This has raised concerns about the health of the banking sector, especially following the collapse of Signature Bank, which NYCB acquired certain assets from. The SPDR S&P Regional Banking ETF (NYSE:KRE) and other regional banks like Metropolitan Bank Holding Corp (NYSE:MCB), Western Alliance Bancorp (NYSE:WAL), and Valley National Bancorp (NASDAQ:VLY) also saw sharp declines. The banking sector's vulnerability is partly attributed to significant exposure to commercial real estate, with a substantial amount of debt needing refinancing soon.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 7:48 pm

AAPL

DIS

META

Apple Inc (AAPL) unveiled its Apple Vision Pro augmented reality headset at WWDC 2023, set for release on Feb. 2 with a price of $3,499. CEO Tim Cook and other executives, along with director James Cameron, praised the device's groundbreaking technology. The Vision Pro, featuring apps from Zoom, Microsoft, and Disney (DIS), faces competition from Meta Platforms' (META) Meta Quest 3. Analysts are optimistic but note challenges in pricing and market penetration.

Portfolio Pulse from Chris Katje

February 01, 2024 | 7:45 pm

AMT

American Tower (NYSE:AMT) has seen a 6.0% decrease in short interest, now at 5.71 million shares or 1.41% of float, indicating a bullish sentiment. With a 3.13-day average to cover short positions, and a lower short interest compared to its peers' average of 4.03%, the market sentiment towards AMT appears more positive.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 7:45 pm

YUM

Yum Brands's (NYSE:YUM) short interest has increased by 3.32%, with 6.12 million shares sold short, representing 2.18% of its float. It would take approximately 4.19 days to cover these short positions. This rise in short interest can indicate a bearish market sentiment towards YUM, although it has less short interest compared to its peer group average of 8.88%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting against the stock.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 7:45 pm

UL

Unilever's (NYSE:UL) short interest has increased by 14.29% since the last report, with 1.89 million shares sold short, representing 0.08% of its float. This indicates a bearish market sentiment towards UL, although it has less short interest compared to its peers' average of 6.37%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearish activity.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 7:45 pm

ATRA

Atara Biotherapeutics' stock price increased following the announcement of the publication of Phase 3 ALLELE Tab-cel data in collaboration with Pierre Fabre Laboratories.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:38 pm