Streetbeat News

Stock Prices

INO

INOVIO Pharmaceuticals has announced a 1-for-12 reverse stock split, set to take effect on January 24, 2024. This action is typically taken by companies to boost the share price to meet exchange listing requirements or to improve perceptions of the stock.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:02 pm

PCAR

PACCAR Inc. (NASDAQ:PCAR) reported Q4 earnings of $2.70 per share, surpassing the consensus estimate of $2.21 by 22.17% and marking a 53.41% increase from the previous year. Sales reached $8.59 billion, exceeding estimates of $8.34 billion by 3.02% and showing an 11.08% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:02 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) is expected to release its earnings next month with anticipated earnings of $4.50 per share on revenue of $20.18 billion. Nvidia has secured a $500 million deal with Indian data center operator Yotta, bringing total orders to $1 billion. This includes nearly 16,000 Nvidia H100 and GH200 AI chips, with delivery by March 2025. Nvidia's current dividend yield is 0.03%, with a quarterly dividend of 4 cents per share. To earn $500 a month from dividends, an investor would need to own 37,500 shares, valued at approximately $22.37 million. NVDA shares gained 0.3% to close at $596.54 on Monday.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 1:02 pm

SLDP

Solid Power, a company specializing in solid-state batteries, has announced a share repurchase program authorizing the buyback of up to $50 million of its shares. This move reflects the company's confidence in its financial stability and future prospects. Share repurchase programs are often seen as a positive signal to the market, indicating that the company believes its shares are undervalued and that it has sufficient cash reserves to return value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:01 pm

IMNM

Wedbush analyst David Nierengarten has maintained an Outperform rating on Immunome (NASDAQ:IMNM) and increased the price target from $12 to $19.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:01 pm

INBX

SNY

Sanofi SA (NASDAQ:SNY) is set to acquire Inhibrx Inc's (NASDAQ:INBX) INBRX-101, a therapy for alpha-1 antitrypsin deficiency, for approximately $2.2 billion. The deal includes a merger where Sanofi will buy Inhibrx shares at $30 each, plus a contingent value right of $5 per share, and Inhibrx shareholders will receive one share of the new entity, Inhibrx Biosciences Inc, for every four shares held. Sanofi will also assume Inhibrx's debt and invest $200 million in the new company, retaining an 8% equity interest. The transaction is expected to close in Q2 of 2024. Inhibrx shares rose 2.04% to $34.01, while Sanofi shares fell 0.65% to $50.50 in premarket trading.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 1:00 pm

DXCM

Over the past three months, 6 analysts have provided ratings for DexCom (NASDAQ:DXCM), with recent updates showing a positive trend in sentiment and an increase in the 12-month price target to an average of $134.5, up from $120.33. Analysts from firms such as Raymond James, Piper Sandler, Wells Fargo, and Morgan Stanley have raised their price targets, reflecting optimism about DexCom's financial health, which includes strong revenue growth, net margin, ROE, and ROA, despite some concerns over debt management.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 1:00 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) stock fell in premarket trading due to broader market sentiment and a cryptocurrency market sell-off after the SEC approved a Bitcoin ETF. Additionally, JPMorgan analysts downgraded Coinbase to Underweight, maintaining a $80 price target. Bitcoin's price dropped by 4.50%, trading below $39,000. Coinbase's premarket stock price decreased by 4.17% to $122.86.

Portfolio Pulse from Shanthi Rexaline

January 23, 2024 | 12:57 pm

UAL

VRM

VTVT

United Airlines Holdings, Inc. (NASDAQ:UAL) shares rose by 6% in pre-market trading after reporting Q4 earnings of $2.00 per share, beating estimates of $1.70, and sales of $13.60 billion, above the expected $13.54 billion. However, the company anticipates a wider-than-expected loss for Q1. Other stocks also moved in pre-market trading, with notable gainers including vTv Therapeutics Inc. (VTVT) and losers such as Vroom, Inc. (VRM), which is discontinuing its ecommerce operations.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 12:55 pm

TM

Toyota Motor Corp. Chairman Akio Toyoda predicts that battery electric vehicles (EVs) will only achieve a maximum of 30% market share globally, with the rest being taken by hybrids, hydrogen fuel cell vehicles, and conventional fuel cars. Toyoda emphasized the need to reduce CO2 emissions and expressed concerns about limiting transportation for those without electricity. He defended Toyota's diversified approach to vehicle technology in response to criticism over the company's pace in adopting EVs.

Portfolio Pulse from Anan Ashraf

January 23, 2024 | 12:54 pm