Streetbeat News

Stock Prices

TBBB

BBB Foods shares are trading lower after UBS downgraded the stock from Buy to Neutral, despite raising its price target from $26 to $27.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:21 pm

UBS

UBS Group AG is in talks to gain full control of its China platform by swapping its stake in Credit Suisse's onshore securities venture for the 33% stake held by Beijing State-Owned Assets Management Co. in UBS Securities Co. This move is part of a complex negotiation involving potential sales to Beijing government funds and faces regulatory challenges due to Chinese laws on foreign brokerage ownership. The deal aims to navigate the competitive landscape, with notable interest from Ant Group and Citadel Securities in Credit Suisse's China investment bank.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:20 pm

SAM

STZ

TAP

Goldman Sachs analyst Bonnie Herzog has upgraded Molson Coors Beverage Co (TAP) to Buy with a price target of $75, citing expected share gains and a positive risk/reward outlook. Constellation Brands Inc (STZ) retains a Buy rating with a $290 price target, expected to benefit from strong beer volume trends and innovation. Boston Beer Company Inc (SAM) has been given a Sell rating with a lowered price target of $250, due to slowing momentum for Twisted Tea and inventory reductions.

Portfolio Pulse from Shivani Kumaresan

April 09, 2024 | 6:17 pm

MRK

MRNA

Moderna Inc's stock rose after presenting positive Phase 1 trial results for its mRNA-4157 therapy in combination with Merck & Co's Keytruda for treating advanced unresectable HPV-negative head and neck carcinoma. The trial showed promising response rates and disease control, with the vaccine combination being safe and well tolerated. The companies are also collaborating on Phase 3 trials for melanoma and non-small cell lung cancer.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:16 pm

CF

Whales have shown a bullish stance on CF Industries Holdings (NYSE:CF), with 55% of detected trades being bullish and 45% bearish. The trading activity suggests a target price range of $71.0 to $87.5. Notable options activity includes both bullish and bearish sentiments, with a mix of puts and calls. CF Industries, a leading nitrogen producer, benefits from low-cost U.S. natural gas, making it one of the lowest-cost producers globally. The stock is currently neutral with a recent price up 2.77% to $82.0.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:16 pm

ET

Financial analysis of Energy Transfer (NYSE:ET) options market reveals a bearish sentiment among traders, with 62% showing bearish tendencies and 37% bullish. The analysis highlighted unusual trades, including 3 puts and 5 calls, aiming for a price range of $12.0 to $20.0. The current market status shows ET trading at $15.85, with a volume of 7,473,081 and an RSI suggesting it may be approaching overbought territory. The anticipated earnings release is in 29 days.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:16 pm

DKNG

Recent options market activity indicates a bullish sentiment towards DraftKings (NASDAQ:DKNG), with 68% of investors showing bullish expectations. The options trading focused on a price range between $30.0 and $55.0. DraftKings, a leader in online sports and casino gambling, is currently live with online sports betting in 24 states and iGaming in seven states. The stock is slightly down at $45.39 with an RSI indicating it may be approaching overbought. Analyst ratings have a consensus target price of $54.8, with varying opinions on the stock's future performance.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:15 pm

AMZN

MSFT

TSM

Microsoft Corp (NASDAQ:MSFT) announced a $2.9 billion investment in Japanese data centers by 2025 to boost AI and cybersecurity, coinciding with Prime Minister Kishida's US visit. This move aligns with Tokyo's AI ambitions and positions Microsoft as a key cloud services provider, second to Amazon.Com Inc (NASDAQ:AMZN). Additionally, Taiwan Semiconductor Manufacturing Co (NYSE:TSM) plans to source 60% of materials locally for its Japanese chip facility by 2030, with significant Japanese government investment. AWS also commits $15.5 billion to Japanese operations from 2023 to 2027.

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 6:07 pm

JETS

MAGS

SMH

TLT

Investors are awaiting March inflation data from the Bureau of Labor Statistics, with expectations of a rise in the CPI inflation rate to 3.4% from 3.2%, and a slight decrease in core inflation from 3.8% to 3.7%. Wells Fargo predicts higher rates, while Bank of America expects more subdued inflation, potentially influencing the Fed's rate cut decision in June. February's CPI data caused volatility in ETFs, with some surging and others falling in response.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 6:01 pm

RS

Reliance (NYSE:RS) has seen a 24.22% increase in short interest since its last report, with 866 thousand shares sold short, representing 2.0% of its float. This indicates a bearish market sentiment towards RS, although it has less short interest compared to its peers' average of 6.01%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 6:00 pm