Streetbeat News

Stock Prices

NIO

QQQ

SPY

TSLA

XPEV

U.S. stock futures are down on the first trading day of 2024, with investors cautious ahead of economic reports and Fed speeches. Crude oil prices rise due to geopolitical tensions, and cryptocurrencies surge. The Nasdaq and S&P 500 ended 2023 on a high, with the Nasdaq up 43% for the year. Analysts predict a strong year for tech stocks, particularly with AI advancements. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are down in premarket trading. Tesla (TSLA) is in focus with its Q4 delivery report due, while Chinese EV makers Nio (NIO), XPeng (XPEV), and Li Auto (LI) see premarket declines despite strong delivery numbers.

Portfolio Pulse from Shanthi Rexaline

January 02, 2024 | 12:45 pm

MRNA

Oppenheimer analyst Hartaj Singh has upgraded Moderna (NASDAQ:MRNA) from Perform to Outperform and set a new price target of $142.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 12:43 pm

HSBC

HSBC Holdings PLC has completed the sale of its French retail banking business to Crédit Commercial de France (CCF), a subsidiary of My Money Group, as of January 1, 2024. The transaction received all necessary regulatory approvals. HSBC's CEO, Noel Quinn, expressed his enthusiasm for the future focus on wholesale banking and wealth/private banking in Europe. My Money Group aims to exceed 30 billion euros in assets and a CET1 ratio over 15%. The deal, initially set at one euro, was adjusted for regulatory reasons. HSBC shares dropped 1.11% to $40.08 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 02, 2024 | 12:42 pm

BRC

B of A Securities analyst George Staphos has upgraded Brady Corporation (NYSE:BRC) from Underperform to Buy and increased the price target from $51 to $65.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 12:39 pm

NGM

NGM Biopharmaceuticals, Inc. has received a non-binding expression of interest from The Column Group (TCG) for a potential acquisition of all outstanding shares not already owned by TCG. TCG currently owns approximately 26.7% of NGM Bio's common stock. NGM Bio's Board has formed a special committee with independent advisors to consider the offer and other strategic alternatives. There is no certainty that a definitive agreement will be reached or that a transaction will occur, and NGM Bio will not comment further unless necessary.

Portfolio Pulse from Charles Gross

January 02, 2024 | 12:36 pm

MSI

Barclays analyst Tim Long has maintained an Overweight rating on Motorola Solutions (NYSE:MSI) and increased the price target from $333 to $352, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 12:36 pm

COIN

GOOG

PINS

YELP

Insiders at Alphabet, Pinterest, Coinbase Global, and Yelp have recently sold shares of their companies. Alphabet's John Kent Walker sold shares worth around $4 million, Pinterest's Christine Deputy sold shares for approximately $837,108, Coinbase's Frederick Ernest Ehrsam III sold shares valued at around $850,245, and Yelp's Joseph Nachman sold shares for about $288,437. These sales could indicate various things, including personal financial management or a lack of confidence in the company's future prospects. However, insider sales are just one of many factors investors should consider.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 12:31 pm

PTVE

B of A Securities analyst George Staphos has upgraded Pactiv Evergreen (PTVE) from Neutral to Buy and increased the price target from $14 to $16. This upgrade suggests a positive outlook on PTVE's future performance and potential for stock price appreciation.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 12:23 pm

AAPL

AOSL

BAC

CMG

EXPE

SPT

Wall Street analysts have updated their price targets and ratings for several companies. Antero Resources had its target cut by Raymond James, while Alpha and Omega Semiconductor received a boost from B. Riley Securities. Barclays downgraded Apple and raised its target for Morgan Stanley and Bank of America. Jefferies upgraded Park Hotels & Resorts, Piper Sandler downgraded Unity Software, Wells Fargo raised Expedia's target, Cantor Fitzgerald upgraded Sprout Social, and Stephens & Co. increased Chipotle's target.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 12:23 pm

PCCYF

XOM

Exxon Mobil Corp (XOM) has exited the West Qurna 1 oilfield in Iraq, transferring operations to PetroChina Co., Ltd. (PCCYF), which now becomes the lead contractor. The oilfield produces approximately 550,000 barrels per day and has over 20 billion barrels of estimated recoverable reserves. ExxonMobil's departure marks its exit from Iraq's energy sector, while PetroChina now holds the largest stake in the field. The deal was finalized in a meeting with senior Iraqi oil officials, ExxonMobil, PetroChina, and Basra Oil Co. ExxonMobil's shares are trading higher by 0.85% at $100.83 in premarket.

Portfolio Pulse from Lekha Gupta

January 02, 2024 | 12:20 pm