Streetbeat News

Stock Prices

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

SPY

TSLA

The 'Magnificent 7' tech giants (Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla) have outperformed the rest of the S&P 500, contributing significantly to the index's 24% gain in 2023. The Mag7 stocks are up 75% over the year, compared to just 12% for the S&P 493. The SPDR S&P 500 ETF also saw a record single-day cash inflow of $20.8 billion. Despite high valuations, fund managers remain bullish on these stocks. However, Piper Sandler predicts a consolidation period in 2024, with small-cap stocks expected to rally.

Portfolio Pulse from Neil Dennis

December 20, 2023 | 2:28 pm

BLUE

Bluebird Bio Inc (NASDAQ:BLUE) shares plummeted after announcing a $125 million public offering of common stock at $1.50 per share, significantly below the previous closing price. The offering includes 83.33 million shares with an option for underwriters to buy an additional 12.5 million shares. Proceeds will support commercialization and manufacturing of gene therapies ZYNTEGLO, SKYSONA, and LYFGENIA, as well as general corporate purposes. The stock dropped 49% to $1.24 on Wednesday morning.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 2:26 pm

MARA

Marathon Digital Holdings Inc (NASDAQ:MARA) shares are rising after HC Wainwright & Co. analyst Kevin Dede maintained a Buy rating and increased the price target from $20 to $24. The boost follows Marathon's announcement of a definitive agreement to acquire two Bitcoin mining sites for $178.6 million, which will add 390 megawatts to its capacity. The acquisition is expected to close in Q1 2024 and will be funded with cash. The rise in Marathon's shares also correlates with the increase in Bitcoin's price, which is up 1.71% at $43,633 and 160% since the year's start.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 2:24 pm

KULR

KULR Technology Group Inc's stock (NASDAQ:KULR) fell 27.5% after announcing a public offering of 4.5 million shares at $0.20 each, aiming to raise $900,000. The offering includes an option for the underwriter to buy an additional 675,000 shares. Proceeds will be used to settle debts and for general corporate purposes. R.F. Lafferty & Co., Inc. is the book-running manager. The offering is expected to close on December 22.

Portfolio Pulse from Henry Khederian

December 20, 2023 | 2:23 pm

AFRM

AMZN

WMT

Affirm Holdings Inc (NASDAQ:AFRM) has expanded its partnership with Walmart Inc (NYSE:WMT) to allow customers to use buy-now-pay-later (BNPL) services at self-checkout kiosks, in addition to the existing in-store and online credit application process. This move aims to boost holiday shopping as BNPL usage increases, with a 42.5% year-over-year rise on Cyber Monday. Affirm also partnered with Amazon.com Inc (NASDAQ:AMZN) on Black Friday to offer payment options to Amazon Business customers. The expansion with Walmart and the partnership with Amazon highlight the growing demand for BNPL services, especially during a time when consumers are more budget-conscious due to the macroeconomic climate.

Portfolio Pulse from Upwallstreet

December 20, 2023 | 2:22 pm

KULR

KULR Technology Group Inc. shares have declined following the announcement of a $900,000 public offering of common stock, which typically dilutes existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:21 pm

AAPL

AMZN

CORN

CRSP

FDX

HOOD

LULU

META

QQQ

TSLA

Swaggy Stocks has listed the top 10 trending stocks on WallStreetBets as of December 20, 2023. The stocks include AAPL, AMZN, CORN, CRSP, FDX, HOOD, LULU, META, QQQ, and TSLA.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:17 pm

COF

Capital One Financial Corp. (COF) stock is currently trading at $131.00, down 0.40% in the current session. Despite the drop, COF's stock has increased by 22.69% over the past month and 46.39% over the past year. The company's P/E ratio of 9.85 is lower than the Consumer Finance industry average of 47.29, which could suggest that the stock is undervalued or that shareholders expect lower future growth.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 2:16 pm

LAB

SLGC

Skye Fund III, a significant shareholder of SomaLogic, Inc. (SLGC), opposes the proposed merger with Standard BioTools Inc. (LAB), stating the deal undervalues SomaLogic. Skye Fund III highlights SomaLogic's strong balance sheet, cash reserves, and revolutionary technology, contrasting it with Standard BioTools' flat revenue and net losses. They also raise concerns about potential conflicts of interest involving board members. Skye Fund III plans to vote against the merger at the upcoming shareholder meeting.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:11 pm

FDX

Stephens & Co. analyst Jack Atkins has maintained an Overweight rating on FedEx (NYSE:FDX) but has reduced the price target from $330 to $320.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:09 pm