Streetbeat News

Stock Prices

RVTY

UBS analyst Dan Leonard downgraded Revvity (NYSE:RVTY) from Buy to Neutral but increased the price target from $105 to $125.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:35 pm

MS

Morgan Stanley's stock is trading lower following the release of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:34 pm

WDAY

Workday Inc. (NASDAQ:WDAY) stock is currently at $282.84, down 0.14% in the current session, but up 2.23% over the past month and 70.48% over the past year. The article discusses the P/E ratio of Workday in comparison to its peers, noting that Workday's P/E ratio of 1179.88 is significantly higher than the Software industry's aggregate P/E ratio of 94.32, suggesting that the stock might be overvalued or that investors expect better future performance.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 4:30 pm

UEC

Uranium Energy Corp. has announced the restart of uranium production at its Christensen Ranch In-Situ Recovery operations in Wyoming, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 4:27 pm

AA

Alcoa Corp (NYSE:AA) is set to release its Q4 earnings on Jan. 17 with expectations of a negative 78 cents EPS and $2.63 billion in revenue. The company, a leader in aluminum production, may benefit from increased aluminum consumption in the green energy sector, potentially leading to a market deficit. Analysts are focusing on Alcoa's ability to navigate demand fluctuations and its alignment with market supply-demand dynamics. The material sector, including Alcoa, is highlighted by Fidelity as one of the top sectors for 2024. However, Alcoa's stock price may not see much upside according to recent analyst ratings, with a consensus price target of $43.16 and current trading at $29.55.

Portfolio Pulse from Surbhi Jain

January 16, 2024 | 4:27 pm

STNG

Scorpio Tankers Inc (NYSE:STNG) has sold an MR product tanker and plans to exercise purchase options on five ships, aiming to close the sale in Q1 2024 and acquisitions in H1 FY24. The sale of STI Tribeca is for $39.1 million, and the acquisitions are expected to reduce the company's debt by $61.1 million. Scorpio Tankers' net debt was $1.23 billion as of Dec. 12. The company's TCE revenue for various vessels in Q4 was reported last month, and the CEO highlighted a strong product tanker market and commitment to lowering leverage and borrowing costs. STNG shares dropped 0.99% to $64.03.

Portfolio Pulse from Lekha Gupta

January 16, 2024 | 4:17 pm

FRGT

Freight Technologies Inc (NASDAQ:FRGT) shares surged after announcing a contract with Kawasaki Motores de Mexico for cross-border logistics services. The contract involves Fr8App orchestrating logistics for Kawasaki's Jet Ski models, highlighting the platform's capabilities. The partnership may open doors to further opportunities with Kawasaki companies in North America.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 4:13 pm

NIO

NIO Inc (NYSE:NIO) shares hit new 52-week lows, continuing a downward trend with nearly 20% losses over the last month. The decline follows a repurchase right notification for its convertible senior notes due 2026 and downgrades from analysts, including Goldman Sachs' price target of $8.40 and BofA's downgrade to Neutral. Tesla's recent price cuts in China, which may increase competition, could also be contributing to selling pressure on NIO. The current average analyst price target for NIO is $27.34, with 11 positive and six neutral ratings.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 4:12 pm

AEM

Samsung SDI (KRX: 006400) has invested $18.5 million in Canada Nickel Company (TSXV:CNC) for an 8.7% stake and rights to 10% of the nickel-cobalt production from the Crawford project. This follows investments from Agnico Eagle Mines (NYSE:AEM) and Anglo American (LON: AAL). Despite a current oversupply and weak nickel market, companies are investing in anticipation of future EV battery demand.

Portfolio Pulse from Stjepan Kalinic

January 16, 2024 | 4:10 pm

MRK

RHHBY

The FDA has approved Merck & Co Inc's Keytruda for a third indication in cervical cancer, in combination with chemoradiotherapy for certain stages. The approval is based on the Phase 3 KEYNOTE-A18 trial, which showed a 41% reduction in the risk of disease progression or death. Keytruda now has 39 indications in the U.S. and is expected to generate nearly $25 billion in sales in 2023. Merck's stock (MRK) saw a slight increase of 0.01% to $118.64.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 4:10 pm