Streetbeat News

Stock Prices

DRI

Darden Restaurants Inc (NYSE:DRI) reported Q2 sales growth of 9.7% year-on-year to $2.727 billion, narrowly missing analyst estimates of $2.741 billion. Adjusted EPS of $1.84 beat the consensus of $1.74. The company's dividend yield is 3.1%, with a quarterly dividend of $1.31 per share. To earn $500 monthly from dividends, an investor would need to own approximately 1,190 shares, valued at $193,363. For $100 monthly, it would require 238 shares, or $38,673. DRI shares fell 0.4% to close at $162.49 on Friday.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 1:31 pm

SLAM

Trading in shares of Slam Corp (SLAM) has been halted due to a circuit breaker triggered by pending news related to the company, commonly referred to as 'Code News'. Investors are awaiting further details to understand the implications of the pending announcement.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:26 pm

IMPP

TOPS

Imperial Petroleum Inc. (IMPP) and Top Ships Inc. (TOPS) are identified as overbought energy stocks with RSI values of 79.96 and 74.57, respectively. IMPP's stock rose 42% over the past month after a warrant repurchase agreement, while TOPS gained 115% following a share repurchase program announcement. Both stocks are considered overbought and may face a downturn in Q4.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 1:24 pm

DRI

Raymond James analyst Brian Vaccaro has maintained an Outperform rating on Darden Restaurants (NYSE:DRI) and increased the price target from $155 to $175.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:22 pm

CUBI

Raymond James analyst Steve Moss has reaffirmed a Strong Buy rating on Customers Bancorp (NYSE:CUBI) and increased the price target from $60 to $65.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:19 pm

MOH

Molina Healthcare, Inc. (NYSE:MOH) has renegotiated the purchase agreement for acquiring Bright HealthCare's California Medicare business, reducing the purchase price from $510 million to approximately $425 million, net of certain tax benefits. This price now corresponds to 23% of the expected 2023 premium revenue of $1.8 billion. The acquisition is anticipated to add $1.00 per share to Molina's new store embedded earnings and is slated to close around January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:18 pm

AAPL

GOOG

GOOGL

Sergey Brin's negotiation strategy in 2007 was pivotal in maintaining Google as the default search engine on Apple devices. Newly revealed emails show Brin's insistence on holding firm against Apple's demands during negotiations. This decision has had long-term implications, as Google continues to pay billions to Apple to retain its default search engine status, with a reported $19 billion paid in 2021. The partnership has been lucrative for both companies, with Google accessing valuable users and Apple earning billions without additional effort.

Portfolio Pulse from Rounak Jain

December 18, 2023 | 1:18 pm

FRTX

Fresh Tracks Therapeutics has received a notice from Nasdaq that its common stock will be suspended from trading on the Nasdaq Capital Market starting December 19, 2023. The company is reconvening a special meeting of stockholders on December 27, 2023, to vote on a proposal for liquidation and dissolution. If the proposal is not approved, Fresh Tracks will seek judicial dissolution, which could be costly and reduce the cash available for distribution to stockholders.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:17 pm

MSS

Maison Solutions Inc. (NASDAQ:MSS) has responded to a short attack on its stock, which occurred on December 15, 2023, following a negative report by Hindenburg Research. The company claims the report contained inaccurate and misleading statements designed to benefit short sellers by causing a decline in stock price. Maison Solutions intends to take appropriate steps to protect its stakeholders and continue building the company.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 1:16 pm

ARM

BERY

DRI

EFX

EXC

INTC

PLD

SNAP

TRUE

Several top Wall Street analysts have updated their price targets and ratings for various US-listed companies. Darden Restaurants, Prologis, TrueCar, Intel, Equifax, Exelon, Snap, Berry Global Group, Micron Technology, and Arm Holdings have all seen changes in their analyst forecasts. Notably, Snap Inc. could rally around 36% according to Guggenheim, which upgraded the stock from Neutral to Buy with a new price target of $23.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 1:15 pm