Streetbeat News

Stock Prices

DFS

PLUG

QQQ

SPY

TSM

U.S. stock futures indicate a higher opening, with Nasdaq futures surging due to a positive forecast from Taiwan Semiconductor Manufacturing Company Limited (TSMC). The tech sector is expected to benefit from TSMC's optimistic outlook as the tech earnings season begins. Economic data on jobless claims, housing starts, and regional manufacturing activity will be in focus. Analyst Lisa Shalett from Morgan Stanley warns that establishing a new bull market will require more effort than currently anticipated, expecting mid-single-digit returns for U.S. stocks and bonds. Discover Financial Services (DFS) and Plug Power (PLUG) saw premarket declines following their respective earnings release and equity offering announcement. Other companies, including AMD, FAST, FHN, KEY, MTB, NTRS, JBHT, and PPG, are scheduled to report earnings.

Portfolio Pulse from Shanthi Rexaline

January 18, 2024 | 12:31 pm

CRWD

Keybanc analyst Eric Heath has maintained an Overweight rating on CrowdStrike Holdings (NASDAQ:CRWD) and increased the price target from $245 to $318.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:30 pm

MBOT

Microbot Medical has hired a US-based Clinical Research Associate after positive results from its pivotal GLP pre-clinical study. This move is in preparation for its anticipated Investigational Device Exemption (IDE) submission to begin first in human clinical trials.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:22 pm

CC

IP

SON

The article discusses three high-yielding dividend stocks in the materials sector, recommended by Wall Street's most accurate analysts according to Benzinga's Analyst Stock Ratings. The Chemours Company (CC) has a dividend yield of 3.47% and received mixed ratings with a price target cut. Sonoco Products Company (SON) offers a 3.64% yield and was downgraded to Hold, with a price increase announcement for its products. International Paper Company (IP) has the highest yield at 5.01%, with a Hold rating and a mixed direction in price targets. All companies are facing market turbulence and have recent news affecting their outlook.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 12:22 pm

WTFC

Wintrust Financial Corp (NASDAQ:WTFC) reported Q4 FY23 earnings with net revenue of $570.8 million, missing consensus estimates of $579.2 million. Adjusted EPS was $2.40, below the expected $2.49, and down 16% Y/Y. Net interest income increased 3% Y/Y but with a margin contraction. Total loans and deposits grew Y/Y, while the provision for credit losses decreased. The company expects to maintain net interest margin levels in the first quarter of 2024. WTFC shares dropped 3.20% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 18, 2024 | 12:21 pm

GOOG

GOOGL

Alphabet Inc's Google has initiated layoffs impacting 100 employees at YouTube, following a previous reduction of over 1,000 workers across various divisions. The layoffs are part of a strategic effort to focus on key product areas and enhance operational efficiency. Affected employees have a 60-day window to find new roles before termination. Google CEO Sundar Pichai indicated that further job cuts may occur throughout 2024 as part of resource allocation decisions. Alphabet plans to eliminate 12,000 positions globally. GOOG shares traded higher by 0.70% in premarket.

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 12:21 pm

ANET

Keybanc analyst Thomas Blakey has maintained an Overweight rating on Arista Networks (NYSE:ANET) and increased the price target from $232 to $287.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:21 pm

PINS

Argus Research analyst Jim Kelleher has upgraded Pinterest (NYSE:PINS) from Hold to Buy and set a price target of $45.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:15 pm

CZR

Caesars Entertainment has projected its total net revenues for the quarter ended December 31 to be between $2.815 billion and $2.835 billion, which is below the estimated $2.92 billion.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 12:14 pm

CART

UBER

Uber Technologies Inc (NYSE:UBER) is rumored to be considering an acquisition of Instacart (NASDAQ:CART), as per Wolfe Research analyst Deepak Mathivanan. Instacart's stock spiked by 6.7% to $25.48 after the analyst upgraded its rating to Outperform with a target price of $35, citing the company's attractive valuation and potential synergies with Uber. The acquisition could help Uber quickly enter the $1 trillion grocery sector with minimal regulatory risk. Instacart, which went public as Maplebear, has been under pressure but is expected to remain a key industry player.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 12:09 pm