Streetbeat News

Stock Prices

GOEV

Canoo Inc. (NASDAQ:GOEV) shares dropped over 11% after a recent surge, following announcements of a U.S. Postal Service purchase and a successful addition of EVs to Zeeba's fleet. The U.S. Postal Service will buy six LDV 190s for delivery in Q1 2024, and Zeeba has added Canoo EVs to its fleet under an existing agreement for 5,450 vehicles. Canoo's stock had previously gained over 30% after these announcements.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 8:45 pm

URI

United Rentals (NYSE:URI) has seen a decrease in short interest, now at 3.74 million shares or 6.29% of float, down 3.97% since the last report. This indicates a potential shift in market sentiment towards a more bullish outlook, despite the short interest being higher than its peer group average of 4.68%. The coverage time for short positions is approximately 6.89 days based on current trading volumes.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:45 pm

SE

Sea shares have experienced an increase in trading volume and price following an upgrade to Buy status by Citi.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 8:43 pm

RACE

Ferrari (NYSE:RACE) confirmed Lewis Hamilton will join their Formula 1 team after the 2024 season, replacing likely Carlos Sainz. Hamilton, a seven-time champion, leaves Mercedes after over a decade. Ferrari's stock rose 12.3% to $388.61, buoyed by strong earnings and the Hamilton announcement.

Portfolio Pulse from Aaron Bry

February 01, 2024 | 8:42 pm

GDX

GOLD

HMY

KGC

NEM

Gold has remained above $2,000 per ounce since November, nearing its record high. Despite this, gold miners have underperformed, with the VanEck Gold Miners ETF (GDX) losing 8% last year. However, recent World Gold Council data shows a surge in gold demand, particularly from central banks, which has led to a positive performance in gold stocks like Newmont Goldcorp (NEM), Kinross Gold (KGC), Barrick Gold (GOLD), and Harmony Gold Mining (HMY). The underperformance of gold miners compared to gold prices is attributed to rising mining costs and dilution from acquisitions, mergers, and capital raises. Yet, there's optimism that gold miners are now better managing costs, reducing debt, and improving cash flows, making them historically undervalued and poised for a potential reversal in trend.

Portfolio Pulse from Neil Dennis

February 01, 2024 | 8:36 pm

HMC

Honda Motor Co's (NYSE:HMC) short interest has decreased by 7.69%, with 1.97 million shares sold short, representing 0.12% of its float. The current short interest suggests a bullish sentiment among investors, as it is significantly lower than the peer group average of 10.71%. This change in short interest could influence Honda's stock performance in the short term.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:30 pm

KLAC

KLA (NASDAQ:KLAC) has delivered an average annual return of 12.6% over the past 20 years, outperforming the market by 5.09% annually. A $100 investment in KLAC 20 years ago would be worth $1,065 today, with the company currently valued at a market capitalization of $80.87 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:30 pm

UNP

Union Pacific (NYSE:UNP) has seen a 38.1% decrease in short interest, now at 4.76 million shares or 0.78% of float, indicating a bullish sentiment. The short interest is significantly lower than its peer group average of 6.28%, suggesting Union Pacific is performing well compared to its peers. Short interest is a key indicator of market sentiment, and a decrease often signals increased bullishness among investors.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:30 pm

HLT

Over the past 10 years, Hilton Worldwide Holdings (NYSE:HLT) has produced an average annual return of 15.95%, outperforming the market by 5.15% annually. An investment of $1000 in HLT stock 10 years ago would be worth $4,345.87 today. Hilton's market capitalization currently stands at $48.97 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 8:30 pm

BYDDY

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), has significantly changed his view on BYD Co. Ltd. (OTC:BYDDY), acknowledging its competitive strength in the EV market after BYD surpassed Tesla in EV sales. Musk's comments followed Tesla's reported 12% drop in shares and missed earnings, highlighting the intense competition in the electric car industry.

Portfolio Pulse from Caleb Naysmith

February 01, 2024 | 8:30 pm