Streetbeat News

Stock Prices

SPY

Fed's Bostic expressed that inflation remains high and the journey to achieving a 2% inflation target is expected to be slower and more turbulent than anticipated. Despite the slow progress, Bostic is not in a rush to reach the target, emphasizing the importance of maintaining job growth and wage increases. He suggests that if these conditions are met and inflation continues to move towards the target, there may be no immediate need to adjust current interest rates.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:08 pm

AGBA

BPTH

DHI

LAC

ME

NRXP

SPCB

U.S. stocks traded higher with the S&P 500, Dow, and NASDAQ all seeing gains. D.R. Horton reported better-than-expected Q2 results. AGBA Group announced a merger with Triller, causing its shares to surge. 23andMe and Bio-Path Holdings also saw significant stock increases, while SuperCom, Lithium Americas, and NRx Pharmaceuticals experienced declines. Oil prices edged lower, while gold, silver, and copper traded higher. European and Asian markets mostly rose, with economic data indicating mixed signals.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 4:08 pm

BSY

Bentley Systems (BSY) shares resumed trading after a temporary halt due to a circuit breaker trigger. This event typically occurs in response to significant price movements, indicating a period of high volatility for the stock.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:07 pm

AMZN

On CNBC, Jim Labenthal announced he has increased his investment in Amazon.com, indicating a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:06 pm

GSK

ME

23andMe Holding Co (NASDAQ:ME) CEO Anne Wojcicki is considering privatizing the company after a significant decline in valuation and challenging market conditions. The company, once valued at $6 billion, went public in 2021 but has since faced decreased revenues, a substantial net loss, and challenges in shifting its business model from genetic testing to drug development. Wojcicki, owning over 20% of shares and 49% of voting power, opposes sale to another buyer. The company's financial struggles include a 33% Y/Y revenue drop and a net loss increase to $278 million in FY24 Q3. 23andMe's cash reserves are expected to last until 2025, prompting considerations for privatization to secure funding and flexibility for drug development.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 4:06 pm

PRI

Primerica, Inc. (NYSE:PRI) shares fell after the Bear Cave issued a short report alleging deceptive behavior by the company's top agents. The report claims these agents engage in misleading practices, including obfuscating their association with Primerica and emphasizing recruiting over product sales. The Bear Cave's allegations are based on evidence such as a recorded Zoom presentation, a recruiting script, and complaints filed with the Florida Attorney General's Office. Primerica has not responded to these allegations.

Portfolio Pulse from Adam Eckert

April 18, 2024 | 4:02 pm

B

Barnes Group's stock price increased following an upgrade from DA Davidson, changing its rating from Neutral to Buy and raising the price target from $35 to $45.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:02 pm

TECH

In the past three months, Bio-Techne (NASDAQ:TECH) received mixed analyst ratings, with a recent shift towards a more bullish outlook. The latest assessments show 1 bullish and 1 somewhat bullish rating, with 2 indifferent ratings previously. Analysts have adjusted their 12-month price targets for TECH, now averaging $77.25, down from $87.33, reflecting a more cautious view on the company's valuation. Despite this, Bio-Techne's financial performance remains strong, with notable revenue growth and net margin, though its ROE is below industry averages.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 4:01 pm

DHR

Over the past decade, Danaher (NYSE:DHR) has delivered an average annual return of 17.02%, outperforming the market by 6.65% annually. A $100 investment in DHR 10 years ago would be worth $480.41 today, showcasing the impact of compounded returns on investment growth. Danaher's current market capitalization stands at $175.79 billion.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 4:00 pm

AGI

Alamos Gold (NYSE:AGI) has significantly outperformed the market with an average annual return of 26.78% over the past 5 years, turning a $100 investment into $325.43 today. The company currently has a market capitalization of $6.02 billion.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 4:00 pm