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Stock Prices

HMST

Keefe, Bruyette & Woods analyst Wood Lay maintains a Market Perform rating on HomeStreet (NASDAQ:HMST) and raises the price target from $11 to $15.5.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:32 pm

TSP

TuSimple, a self-driving truck company, has announced its intention to delist from the Nasdaq stock exchange, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:30 pm

FSR

Fisker Inc.'s stock (FSR) is trading lower following a downgrade by TD Cowen from 'Outperform' to 'Market Perform' and a significant reduction in the price target from $11 to $1.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:29 pm

MIMO

Airspan Networks has announced a partnership with GCT Semiconductor to develop an RF module, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:29 pm

VZ

Verizon Communications Inc (NYSE:VZ) reported a $5.8 billion write-down in its business services division due to market challenges, including competition and macroeconomic factors. The impairment is mainly associated with its legacy wireline operations, which have seen declining demand. Despite this, Verizon's wireless segment grew by 2.9% in the same period. The company's total revenue for the third quarter was $33.3 billion, and it will report full-year and fourth-quarter earnings on January 23. VZ shares dropped by 0.50% to $39.10.

Portfolio Pulse from Anusuya Lahiri

January 17, 2024 | 3:26 pm

NIO

TSLA

NIO Inc – ADR (NASDAQ:NIO) stock reached a new 52-week low of $6.40, down 2.3% during Wednesday's session, amid broader declines in US-listed Chinese stocks following China's missed GDP and retail sales estimates. The EV sector, including Tesla Inc (NASDAQ:TSLA), may also be experiencing downward pressure due to Tesla's recent price cuts in China. Despite this, China's Premier Li Qiang expressed confidence at the World Economic Forum in Davos about China's economic resilience and growth prospects.

Portfolio Pulse from Henry Khederian

January 17, 2024 | 3:24 pm

TSLA

Tesla Inc (NASDAQ:TSLA) stock is trading lower, continuing a trend of over 8% loss in the past week. The decline is attributed to Tesla's recent price cuts for its Model Y vehicles in several European countries, including Germany, France, Norway, and the Netherlands, with reductions up to 8%. This follows similar price cuts in China amid rising competition. Investors are concerned about the impact of these price cuts on margins, especially with Tesla's Q4 financial results due on Jan. 24, where earnings of 74 cents per share on $25.515 billion revenue are expected. Last quarter, Tesla reported its smallest profit in two years and missed expectations.

Portfolio Pulse from Adam Eckert

January 17, 2024 | 3:23 pm

TSLA

Tesla has reduced the prices of its Model Y vehicles in Europe, leading to a decline in the company's stock value.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:22 pm

BTCUSD

ETHUSD

RNDR

TIA

The cryptocurrency market saw mixed movements with Bitcoin (BTC) slightly lower, maintaining above $42,000, while Ethereum (ETH) edged higher, trading above $2,500. Render (RNDR) was the top gainer, and Celestia (TIA) was the biggest loser in the last 24 hours. The global crypto market cap experienced a minor decline of 0.1%. Other notable gainers include Beam (BEAM), WOO (WOO), Conflux (CFX), and Chainlink (LINK), while losers include Sui (SUI), Aave (AAVE), Cosmos (ATOM), and Klaytn (KLAY).

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 3:22 pm

PDD

PDD Holdings Inc – ADR (NASDAQ:PDD) stock fell by 2.8% to $139.14 due to broader declines in US-listed Chinese stocks after China's GDP and retail sales figures missed estimates. Despite China's Premier Li Qiang's reassurance at the Davos meeting about the country's economic stability and growth trajectory, investors reacted negatively to the early announcement of China's GDP growth rate for 2023, which is around 5.2%.

Portfolio Pulse from Henry Khederian

January 17, 2024 | 3:21 pm