Streetbeat News

Stock Prices

LIDR

AEye Inc. (LIDR) stock is trading lower following Continental's decision to end their joint lidar development program, including the HRL131 lidar product line.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:06 pm

CHWY

Chewy Inc (NYSE:CHWY) shares have risen following insider stock purchases. Jefferies analyst Kaumil Gajrawala initiated coverage with a Buy rating and a $27 price target, citing growth drivers such as pet health, advertisements, and automation. Gajrawala expects Chewy to benefit from increased pet ownership, customer growth, and higher household spending on pet products. Despite potential macro pressures, Chewy is seen as resilient. At the time of publication, Chewy's stock had increased by 7.15% to $23.23.

Portfolio Pulse from Priya Nigam

December 19, 2023 | 5:05 pm

MULN

Mullen Automotive CEO David Michery addressed shareholders in an open letter regarding the recent reverse stock split. The split was approved at a shareholders meeting on Dec. 18, 2023, as a measure to comply with Nasdaq's minimum bid price requirement and avoid delisting. Michery acknowledged the difficulty of the decision, given past dilutive splits, and the need to raise capital in 2024. He emphasized the importance of remaining on a major exchange for financing and long-term value creation, despite some shareholders' opposition to the reverse split.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:05 pm

NIO

NIO's ET7 electric car has achieved a range of over 650 miles on a single charge with its new 150 kWh battery, surpassing 1,000 km on the CLTC cycle. CEO William Li demonstrated the battery's capability by driving from Zhejiang to Fujian Province, covering 1,044 km with 3% charge remaining. The battery, which is the largest capacity for passenger EVs built in China, will be costly, comparable to the price of an ET5. Mass production is set to begin in April, and NIO will introduce the flagship ET9 during NIO Day 2023, expected to feature the new battery.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:04 pm

ETAO

ETAO International's stock is trading lower following the announcement of a Nasdaq delisting determination.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:03 pm

MOTS

Motus GI Holdings announced the pricing of a $5 million public offering at $1.50 per share, resulting in its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:02 pm

CAT

Caterpillar Inc. (NYSE:CAT) has received a mix of bullish and neutral analyst ratings in the last quarter, with 3 bullish, 1 somewhat bullish, and 1 indifferent. The 12-month average price target among 5 analysts is $286.4, with a high of $320 and a low of $250. This average has decreased by 4.29% from the previous target of $299.25. Analysts from Stifel, HSBC, Tigress Financial, Goldman Sachs, and JP Morgan have adjusted their price targets and ratings, reflecting their latest views on the company's performance. Caterpillar is a leading manufacturer in heavy equipment and has shown solid revenue growth, high net margin, and strong ROE and ROA, but carries a higher debt-to-equity ratio compared to the industry average.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

KVUE

Kenvue (NYSE:KVUE) has received mixed analyst ratings in the last quarter with 1 bullish, 1 somewhat bullish, and 2 indifferent. The average 12-month price target among 4 analysts is $23.75, with a high of $26.00 and a low of $20.00. The current average target has declined by 8.65% from the previous $26.00. Analysts from UBS, Piper Sandler, Goldman Sachs, and JP Morgan have provided updates, with UBS and Piper Sandler maintaining a neutral stance, while Goldman Sachs and JP Morgan have lowered their targets but still suggest a buy/overweight rating. Kenvue, a spin-off from Johnson & Johnson's consumer segment, went public in May 2023 and is a leader in consumer health with $15 billion in annual revenue. Despite a positive revenue trend and strong financial indicators like net margin and ROE, its revenue growth lags behind industry peers.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

INTC

Options trading activity for Intel Corporation (NASDAQ:INTC) shows a bullish trend among investors, with 71% of the detected 45 trades being bullish. The trades include 10 puts worth $848,351 and 35 calls worth $2,635,466, targeting a price range of $25 to $60 over the last 3 months. The largest options spotted suggest a bullish sentiment, with significant trades for calls at strike prices of $30 and $45.50. Intel, a leading chipmaker, is currently trading at $45.55 with a potential overbought RSI indicator and an earnings announcement expected in 37 days. Analyst ratings from B of A Securities, Benchmark, and Raymond James have set target prices ranging from $48 to $52, with an average target price of $50.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:01 pm

LPX

RBC Capital has reaffirmed its Outperform rating on Louisiana-Pacific (NYSE:LPX) and increased its price target from $72.00 to $80.00. Louisiana-Pacific's shares have risen 2.32% in the last 24 hours to $68.73. The new price target suggests a potential upside of 16.4%. Louisiana-Pacific is a producer of oriented strand board and engineered wood siding, with a significant presence in the North American housing market and operations in Brazil and Chile.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 5:00 pm