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Stock Prices

DDOG

Datadog's stock (DDOG) is trading higher following Citigroup's reaffirmation of a Buy rating and an increase in the price target from $125 to $150.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:15 pm

NIO

NIO Inc (NASDAQ:NIO) shares are experiencing volatility due to the broader decline in Chinese markets, which hit 15-month lows. The Hang Seng index dropped 2.3%, marking its worst start since 2016. China's banks held loan prime rates steady, disappointing investors hoping for economic stimulus. Nio's stock faced additional pressure from competitors like Tesla cutting prices in China. Nio's shares are down over 26% in the last month and were trading lower by 0.33% at $6.04 at the time of publication.

Portfolio Pulse from Adam Eckert

January 22, 2024 | 3:15 pm

FSR

NVVE

PCSA

RVSN

SGMT

VIRI

U.S. stocks opened higher with the Nasdaq Composite gaining around 100 points. The Dow and S&P 500 also saw increases. Real estate shares led the gains, while consumer staples fell. Sagimet Biosciences, Rail Vision, and Fisker saw significant stock price increases, while Virios Therapeutics, Processa Pharmaceuticals, and Nuvve Holding experienced declines. The US leading index fell less than expected in December. Oil prices rose, and gold saw a slight decline.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 3:15 pm

GURU

SPY

LCH Investments reports that elite hedge funds delivered $67 billion to investors in 2023, tripling the previous year's returns. Top funds outperformed the industry average with a 10.5% gain. TCI Fund Management led by Sir Christopher Hohn topped the ranking with $12.9 billion in gains, followed by Citadel and Viking Global. Bridgewater Associates reported losses. The Global X Guru ETF (GURU) underperformed the SPDR S&P 500 ETF Trust (SPY) with an 18.6% return compared to SPY's 24.3% gain.

Portfolio Pulse from Piero Cingari

January 22, 2024 | 3:13 pm

PG

Procter & Gamble Co (NYSE:PG) is set to report its Q2 earnings before market hours on Tuesday, with expectations of $1.70 EPS and $21.47 billion in revenue. P&G is recognized for its robust business model and resilience across its five business segments. The company has shifted focus from price increases to volume growth through innovation, which has shown positive results in the U.S. last quarter. P&G's financial strength is further supported by strong EPS growth, operational efficiency from its supply chain 3.0 program, and a reliable dividend yield. Analysts are focusing on P&G's positioning for 2024, considering the economic slowdown and potential lower rates from the Federal Reserve. The stock is currently rated as a Buy with a consensus price target of $150.92, while it recently dipped 0.5% to $146.82.

Portfolio Pulse from Surbhi Jain

January 22, 2024 | 3:11 pm

NS

SUN

Sunoco LP (NYSE:SUN) has announced its plan to acquire NuStar Energy LP (NYSE:NS) in a stock-for-stock transaction valued at $7.30 billion, expected to close in Q2 of 2024. Sunoco is a manufacturer and marketer of racing fuels and a fuel distributor in the U.S., while NuStar Energy is a pipeline and terminal operator involved in the transportation and storage of petroleum products and anhydrous ammonia.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 3:10 pm

OPTT

PGNT

Paragon Technologies, Inc. (PGNT), holding 4.8% of Ocean Power Technologies, Inc. (OPTT), is urging shareholders to vote using the BLUE proxy card against OPT's current Board and CEO, citing a 90% decline in OPTT's share price since their tenure. Paragon claims OPT's statements about votes on the BLUE card not counting are misleading and expects the Delaware courts to resolve the issue of OPT's refusal to recognize Paragon's director nominees. Paragon is soliciting votes for its own nominees for the upcoming annual meeting.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:08 pm

REG

Evercore ISI Group analyst Steve Sakwa upgraded Regency Centers (NASDAQ:REG) from In-Line to Outperform and increased the price target from $69 to $71.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:07 pm

DWAC

Shares of Digital World Acquisition Corp. (DWAC) have risen following the termination of Ron DeSantis's presidential campaign. DWAC is set to merge with Trump Media & Technology Group.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:06 pm

EGBN

PFBC

Preferred Bank (NASDAQ:PFBC) announced a dividend payout of $0.70 per share with an annualized yield of 4.17%, payable on January 22, 2024, to shareholders on record as of January 08, 2024. The company has shown a positive trend in dividend per share growth from $1.20 in 2020 to $2.35 in 2023, and earnings per share growth from $4.57 to $10.64 over the same period. Eagle Bancorp (NASDAQ:EGBN) leads the industry with a 6.59% dividend yield.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 3:05 pm