Streetbeat News

Stock Prices

IBP

Installed Building Products (IBP) shares are trading lower due to a weekly increase in mortgage rates, which could potentially reduce new home construction demand, affecting IBP's business.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:20 pm

ADI

AVGO

KLAC

MCHP

MRVL

MU

SNPS

SOXX

JPMorgan analyst Harlan Sur is optimistic about the semiconductor industry, forecasting 6%-8% revenue growth in 2024 after a decline in 2023. The iShares Semiconductor ETF (SOXX) has outperformed the S&P 500 YTD. Key growth drivers include accelerated compute and AI demand, recovery in auto and industrial segments, and an upswing in the memory industry. Sur's top picks include Broadcom (AVGO), Marvell (MRVL), Micron (MU), Analog Devices (ADI), Microchip Technology (MCHP), KLA Corp (KLAC), and Synopsys (SNPS).

Portfolio Pulse from Surbhi Jain

April 16, 2024 | 3:17 pm

COIN

Coinbase Inc. (NASDAQ:COIN) and Kraken have launched ad campaigns to promote the upcoming Bitcoin halving, highlighting Bitcoin's value growth and its contrast to traditional fiat currency. Coinbase's ad uses pizza to illustrate Bitcoin's appreciation, while Kraken's ad takes a philosophical approach, emphasizing Bitcoin's scarcity and divisibility. These campaigns aim to boost interest in Bitcoin ahead of the halving event and the Future of Digital Assets conference.

Portfolio Pulse from Murtuza Merchant

April 16, 2024 | 3:17 pm

SPT

Sprout Social shares are trading lower following the announcement of a CEO transition.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:16 pm

MARA

RIOT

Crypto-related stocks, including MARA and RIOT, are trading lower due to a pullback in Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:16 pm

ULTA

Investors have shown a bearish stance on Ulta Beauty (NASDAQ:ULTA), with options data revealing 16 transactions, predominantly puts. The trading sentiment is mixed but leans heavily towards bearish, with a focus on a price band between $310.0 and $515.0. Ulta Beauty, a leading beauty retailer with a partnership with Target, has seen its stock price decrease by -2.33%, with an RSI indicating potential oversold conditions. The next earnings report is expected in 37 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:16 pm

OXY

Recent unusual options activity in Occidental Petroleum (NYSE:OXY) indicates a bearish sentiment among deep-pocketed investors, with a significant portion of activity leaning towards puts over calls. The options activity suggests a price target range of $60.0 to $85.0. Despite this, analysts have mixed views on OXY, with target prices ranging from $69 to $90. The company's stock is currently down -3.12% at $66.21, with next earnings expected in 21 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 3:16 pm

DJT

Trump Media & Technology Group shares are trading lower, reversing from earlier premarket gains following the announcement of a new streaming platform. The initial excitement about the launch of the platform seems to have waned, leading to a decrease in the stock price.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:15 pm

ALAB

Astera Labs' stock price increased following Evercore ISI Group's initiation of coverage with an Outperform rating and a $100 price target.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:14 pm

BLD

TopBuild shares are trading lower due to a weekly increase in mortgage rates, affecting the housing market and potentially reducing demand for TopBuild's services.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:12 pm