Streetbeat News

Stock Prices

HPE

Hewlett Packard Enterprise (HPE) stock rose by 3.09% following a 50-basis-point interest rate cut by the Federal Reserve. This cut is expected to lower borrowing costs for HPE, which relies on debt for operations and capital expenditures. The rate cut also benefits HPE's customers, who finance large IT projects, potentially boosting HPE's revenue.

Portfolio Pulse from Henry Khederian

September 19, 2024 | 6:42 pm

CME

COIN

HOOD

Piper Sandler analyst Patrick Moley raised Robinhood Markets' (NASDAQ:HOOD) price target from $23 to $27, citing retail trading and crypto expansion. The analyst believes Robinhood is well-positioned to benefit from potential U.S. crypto legislation. Robinhood's revenue growth and macroeconomic factors are key considerations for investors.

Portfolio Pulse from Anusuya Lahiri

September 19, 2024 | 6:42 pm

ADBE

AMZN

Amazon has announced a new AI-powered text-to-video product aimed at advertisers, potentially challenging Adobe's upcoming Firefly service. This move is part of the ongoing AI competition among tech giants.

Portfolio Pulse from Aaron Bry

September 19, 2024 | 6:40 pm

RCI

Rogers Communications Inc. (NYSE:RCI) is acquiring a 37.5% stake in Maple Leaf Sports & Entertainment from Bell for $3.46 billion, increasing its ownership to 75%. This move enhances Rogers' sports portfolio, pending regulatory approvals. RCI shares rose 0.50% following the announcement.

Portfolio Pulse from Lekha Gupta

September 19, 2024 | 6:40 pm

FDMT

4D Molecular Therapeutics (NASDAQ:FDMT) stock fell after releasing follow-up data from its Phase 1/2 PRISM clinical trial and 4FRONT Phase 3 study design for its vision loss drug candidate, 4D-150. Despite showing robust treatment burden reduction and a favorable safety profile, the stock dropped 18.80%.

Portfolio Pulse from Vandana Singh

September 19, 2024 | 6:34 pm

FI

FSTA

WMT

XLP

Walmart Inc. plans to introduce a pay-by-bank feature in 2025, allowing direct payments from checking accounts via Fiserv's NOW Network. This move aims to enhance transaction speed and convenience. Walmart is also preparing for the holiday season with initiatives like an inflation-free Thanksgiving meal and expanded delivery services.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2024 | 6:33 pm

BIDU

Baidu Inc (NASDAQ:BIDU) shares rose 3% following the Federal Reserve's unexpected interest rate cut, which is expected to boost global liquidity and benefit Baidu's capital-intensive innovation projects. A weaker U.S. dollar also enhances Baidu's foreign revenue potential.

Portfolio Pulse from Henry Khederian

September 19, 2024 | 6:24 pm

BTCUSD

Standard Chartered's Geoff Kendrick predicts Bitcoin and digital assets will grow following a U.S. interest rate cut. Macroeconomic factors, like the U.S. Treasury yield curve, are now key drivers, overshadowing political events. Bitcoin could reach new highs by 2024, with potential ETF inflows boosting the market.

Portfolio Pulse from Murtuza Merchant

September 19, 2024 | 6:19 pm

SKX

Skechers USA, Inc. shares experienced a decline as the company's CFO, John Vandemore, participated in a fireside chat at the Wells Fargo Consumer Conference. The event is accessible live and on replay on Skechers' investor website.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 6:18 pm

X

United States Steel Corporation (NYSE:X) shares rise as the company provides a positive third-quarter 2024 earnings outlook, despite global challenges. The company expects adjusted net earnings per share between $0.44 and $0.48, surpassing estimates. Adjusted EBITDA is projected at $300 million, reflecting strong domestic demand and resilient flat-rolled steel demand. However, challenges persist in Europe and the Tubular segment. The company is progressing with regulatory reviews for a transaction with Nippon Steel.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2024 | 6:09 pm