Streetbeat News

Stock Prices

RIGL

HC Wainwright & Co. analyst Joseph Pantginis has reiterated a Buy rating on Rigel Pharmaceuticals (NASDAQ:RIGL) and maintained a $15 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:27 pm

WBA

Walgreens Boots Alliance Inc (WBA) reported Q1 FY24 sales of $36.7 billion, a 10% increase year-over-year, surpassing expectations. Adjusted operating income fell 33% to $687 million, and adjusted EPS dropped 43.1% to $0.66, still beating estimates. Comparable sales in U.S. retail pharmacy rose 8.1%, but total prescriptions filled remained flat. WBA cut its quarterly dividend by 48% to $0.25 per share. The company reaffirmed its FY24 adjusted EPS guidance of $3.20-$3.50, with U.S. Healthcare adjusted EBITDA expected to break even. WBA shares fell 9.80% to $23.07.

Portfolio Pulse from Vandana Singh

January 04, 2024 | 3:27 pm

SPOT

Traders are circulating news that Investor Business Daily's SwingTrader has purchased shares of Spotify Technology (SPOT). This could indicate a positive sentiment among traders and potentially influence the stock's short-term performance.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:25 pm

BTCUSD

ETHUSD

SOLUSD

Bitcoin and other cryptocurrencies have seen a stabilization after a sharp decline in liquidations, with total liquidations dropping from $652 million to $175 million in 24 hours. Bitcoin, Ethereum, and Solana experienced significant liquidations, but the market is showing signs of recovery. Analysts warn of continued uncertainty and advise caution, with some traders taking profits and others waiting for a potential Bitcoin ETF approval. Bitcoin's price was up 3.6% to $43,969, but trading volume decreased by 8.6%.

Portfolio Pulse from Khyathi Dalal

January 04, 2024 | 3:21 pm

AAPL

AMD

AMZN

BABA

CALM

META

MSFT

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a crash with $600M in long positions liquidated. In US markets, Cal-Maine reported disappointing Q2 results, and the Fear & Greed Index moved to 'Greed' zone while the Nasdaq fell for the fourth consecutive day. AMD is anticipated to have a 25% upside potential due to 'GenAI'. Microsoft is adding a Copilot key to PCs and laptops. Alibaba faces challenges with a 75% share drop from its 2020 high. Meta's Mark Zuckerberg continues selling shares. Amazon may face competition from TikTok's US e-commerce expansion. Apple settles an iTunes gift card scam lawsuit. US chip stocks fall after a record-breaking 2023. In the EV sector, Tesla's stock dropped by 4%, and Ford adjusted F-150 Lightning prices. Crane Co. acquired Vian Enterprises for $103M, enhancing its aerospace segment. SpaceX faced labor issues, and copper prices are predicted to rise due to renewable energy transitions.

Portfolio Pulse from Akanksha Bakshi

January 04, 2024 | 3:17 pm

SEM

Select Medical Holdings Corporation's stock is trading higher following the announcement of a potential separation of its subsidiary, Concentra.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:15 pm

ALL

OMGA

Lamb Weston Holdings, Inc. (LW) reported better-than-expected quarterly earnings and sales, leading to a 4.7% rise in its stock price. Other stocks also moved higher, including Omega Therapeutics (OMGA) after a collaboration with Novo Nordisk, and Allstate Corporation (ALL) following an analyst upgrade. Various companies announced public offerings, collaborations, and financial forecasts, contributing to their stock movements.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 3:12 pm

APA

CPE

APA (NASDAQ:APA) has announced the acquisition of Callon Petroleum (NYSE:CPE) for $4.50 billion in stock, expected to close in Q2 of 2024. APA is a Houston-based independent exploration and production company, while Callon Petroleum operates in oil and natural gas exploration and production in the Permian Basin. The acquisition allows APA to consolidate ownership and potentially lead to a merger.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 3:10 pm

CMG

GOOG

GOOGL

HLT

QSR

SPY

Bill Ackman's Pershing Square Capital Management outperformed the S&P 500 in 2023 with a 26.7% return, surpassing the S&P 500's 24.2% gain. The hedge fund's rebound is attributed to strong performances from holdings like Chipotle Mexican Grill and Alphabet Inc, which saw increases of 63% and 55% respectively. Other contributors included Restaurant Brands International and Hilton Worldwide Holdings, with gains of nearly 25% and approximately 45%. The future performance of Pershing Square remains uncertain, with investor optimism hinging on potential FED rate cuts and inflation trends.

Portfolio Pulse from Surbhi Jain

January 04, 2024 | 3:09 pm

SIMO

JP Morgan analyst Gokul Hariharan has upgraded Silicon Motion Technology (SIMO) from Neutral to Overweight and increased the price target from $54 to $77.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:07 pm