Streetbeat News

Stock Prices

BAC

BLK

JPM

KEY

NYCB

TFC

WFC

XLF

As bank earnings season begins, major banks like JPM, BAC, WFC, C, and BK are set to report Q4 results, with mixed expectations. Wells Fargo and Bank of New York Mellon are projected to show increases in both EPS and revenue, while others may see declines. BlackRock, which launched the iShares Bitcoin Trust ETF (IBIT), will also report earnings. Analysts warn of a potential sell-off on day one, especially for bank stocks that have recently rallied. Bank of America's equity research team sees potential in WFC and BK, and lists NYCB, KEY, and TFC as top picks for 2024. The Financial Select Sector SPDR Fund (XLF) had its strongest quarter since Q1 2021.

Portfolio Pulse from Piero Cingari

January 11, 2024 | 6:37 pm

CAN

CMND

FFNW

OPI

PLUG

SDIG

TGAN

TTGT

TechTarget, Inc. (TTGT) shares rose by 14.4% after announcing a strategic combination with Informa Tech's digital businesses. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting acquisitions, financial results, and other business updates. Notably, First Financial Northwest, Inc. (FFNW) surged 53% due to an acquisition announcement, and Transphorm, Inc. (TGAN) jumped 25.3% after a buyout offer. Crypto-related stocks like Canaan Inc. (CAN) and Stronghold Digital Mining, Inc. (SDIG) also rose after the SEC approved the listing and trading of spot Bitcoin ETFs. Conversely, several companies saw their shares fall, such as Clearmind Medicine Inc. (CMND), Office Properties Income Trust (OPI), and Plug Power Inc. (PLUG), which was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 6:32 pm

Visa Inc. (NYSE:V) has seen a decrease in short interest, with the short percent of float falling 4.95% since the last report. The company has 30.33 million shares sold short, which is 1.92% of available shares for trading. The average time to cover these short positions is 5.86 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Visa's short interest is below its peer group average of 5.72%.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:30 pm

VMC

Vulcan Materials (NYSE:VMC) has seen a 26.96% decrease in short interest since its last report, with 1.76 million shares sold short, representing 1.49% of available shares. The average time to cover these short positions is 3.35 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Vulcan Materials has a higher short interest than its peer group average of 1.26%. Short interest is a key indicator of market sentiment and changes in short interest can have implications for stock performance.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:30 pm

BYDDY

TSLA

WKSP

Tesla Inc (TSLA) achieved its target of 1.8 million EV deliveries in 2023, while BYD Company Limited (BYDDY) surpassed Tesla's quarterly sales. Ford Motor (F) is adjusting prices for its 2024 F-150 Lightning models. Worksport Ltd (WKSP) is increasing production capacity for its solar-powered tonneau cover and battery system for Hyundai Motor Company (HYMTF). Hyundai surpassed Ford and General Motors in U.S. EV sales, ranking behind Tesla. VinFast is entering the electric pickup market with its VF Wild concept. Worksport plans a second soft cover factory and is ramping up production in Buffalo, New York.

Portfolio Pulse from Upwallstreet

January 11, 2024 | 6:30 pm

TEAM

Atlassian (NYSE:TEAM) has seen a 23.58% increase in short interest since its last report, with 4.05 million shares sold short, representing 2.62% of available shares. The short interest is below the peer group average of 3.29%. While high short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:30 pm

HUGE

GBB Drink Lab. Inc's lawsuit against FSD Pharma (NASDAQ:HUGE) for violating a Non-Disclosure Agreement and attempting to launch GBB's product without permission will proceed, as a federal court has refused to dismiss the case. The court recognized the economic value of GBB's trade secrets and the impact of FSD Pharma's actions on potential investors.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:17 pm

Over the past 5 years, General Electric (NYSE:GE) has produced an average annual return of 19.62%, outperforming the market by 6.9%. A $100 investment in GE stock 5 years ago would now be worth $240.27. General Electric currently has a market capitalization of $141.22 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:00 pm

Analysts have updated their ratings and price targets for SM Energy (NYSE:SM), with a mix of bullish and neutral stances. Over the past three months, ratings have varied, with the current consensus being 1 bullish, 2 somewhat bullish, and 1 indifferent. The average 12-month price target is now $45.00, down from $47.75, with a high estimate of $51.00 and a low of $40.00. Key analysts from Keybanc, Raymond James, Mizuho, and Susquehanna have adjusted their price targets, with three lowering and one raising their target. SM Energy's financials show a -22.7% revenue decline over 3 months, but strong profitability with a net margin of 34.76% and above-average ROE and ROA. The company has a lower-than-average debt-to-equity ratio of 0.46.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 6:00 pm

ABT

UBER

VRTX

On CNBC's Halftime Report, the final trades segment featured recommendations for Uber Technologies, Vertex Pharmaceuticals, and Abbott Laboratories. These companies were highlighted as potential investment opportunities, though specific details of the discussion were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:00 pm