Streetbeat News

Stock Prices

CAT

MCD

TLT

Federal Reserve Chair Jerome Powell pushed back on the notion of interest rate cuts in a 60 Minutes interview, emphasizing the need for more confidence in inflation reduction. This stance comes amid political and market pressure for rate cuts. The iShares 20 Plus Year Treasury Bond ETF (TLT) saw a pullback following Powell's comments and a strong jobs report. Notably, earnings reports from Caterpillar Inc. (CAT) and McDonald's Corp (MCD) showed mixed results. Early trade money flows were positive for Apple Inc (AAPL), Alphabet Inc Class C (GOOG), and NVIDIA Corp (NVDA), neutral for Microsoft Corp (MSFT), and negative for Amazon.com, Inc. (AMZN), Meta Platforms Inc (META), and Tesla Inc (TSLA), with mixed flows for SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ). Gold and oil markets reacted to Powell's interview and geopolitical developments, respectively.

Portfolio Pulse from The Arora Report

February 05, 2024 | 4:58 pm

CTLT

LLY

NVO

Eli Lilly's stock (LLY) is trading higher today, with no specific news driving the movement. Investors are anticipating the Q4 2023 results and guidance, especially regarding the weight-loss drug Zepbound. Zepbound, competing in the anti-obesity market, is priced lower than Novo Nordisk's Wegovy. Both companies are expanding production due to demand and supply constraints. Novo Nordisk is acquiring manufacturing sites from Novo Holdings, which is buying Catalent Inc. Eli Lilly's diabetes drug Mounjaro is facing limited availability due to high demand.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 4:58 pm

TLT

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, stated that the Federal Reserve's monetary policy might not be as tight as previously assumed, suggesting a possible recalibration of the 'neutral' policy stance. This follows Fed Chair Jerome Powell's comments on inflation not being under control and the need for more positive data before considering interest rate reductions. Kashkari highlighted the economy's resilience, particularly in construction and housing markets, while acknowledging areas of concern such as auto loan and credit card delinquencies. Following these remarks, market expectations for interest rate cuts have decreased, with a notable impact on the iShares 20+ Year Treasury Bond ETF Trust (TLT), which fell 2%.

Portfolio Pulse from Piero Cingari

February 05, 2024 | 4:56 pm

ZS

Zscaler shares are trading lower following the resignation of the company's Chief Operating Officer.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:48 pm

CURO

CURO shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:43 pm

WRNT

Warrantee shares have seen an increase in trading volume and price after the company announced it has regained compliance with Nasdaq's filing requirements. This development is significant for investors as it indicates the company has addressed previous concerns regarding its financial reporting and governance, potentially restoring investor confidence and stabilizing its stock in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:42 pm

MARA

RIOT

Marathon Digital Holdings, Inc. (MARA) and Riot Platforms, Inc. (RIOT) reported a decrease in Bitcoin production for January. MARA produced 1,084 Bitcoins, a 42% decrease from December but a 58% increase year-over-year. RIOT produced 520 Bitcoins, a 16% decrease from December and a 30% decrease year-over-year. Both companies faced challenges, including weather-related issues and equipment failures. MARA's shares are down 7.2%, and RIOT's shares are down 5.6%.

Portfolio Pulse from Erica Kollmann

February 05, 2024 | 4:38 pm

PLL

Piedmont Lithium (NYSE:PLL) has seen a 7.22% increase in its short percent of float since the last report, with 2.73 million shares sold short, representing 14.41% of its available trading shares. This indicates a bearish market sentiment towards PLL, as the short interest is significantly higher than its peer group average of 3.37%. However, an increase in short interest can sometimes be bullish, suggesting a potential for profit if the stock price increases.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 4:30 pm

TOST

Toast, Inc. (NYSE:TOST) has seen a 14.51% increase in its short percent of float since the last report, with 33.82 million shares sold short, representing 8.13% of its available trading shares. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Toast's short interest is higher than its peer group average of 5.15%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 4:30 pm

QLYS

Over the past 10 years, Qualys (NASDAQ:QLYS) has produced an average annual return of 19.22%, outperforming the market by 8.77% on an annualized basis. With a current market capitalization of $6.77 billion, a $100 investment in QLYS a decade ago would be worth $584.14 today. This showcases the significant impact of compounded returns on cash growth over time.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 4:30 pm