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The US producer price index (PPI) inflation dropped to 0.1% YoY in June, lower than expected. This has led to notable price shifts in various sectors. Investors are betting on the Fed raising rates once in July. Stocks that moved include Plug Power, which surged 8% after securing an order for a green hydrogen project; Progressive Corporation, which fell 10% due to lower-than-expected results; Nikola Corp., which rose 14% after a purchase plan by BayoTech; Cryoport, which plummeted 25% after lowering its revenue forecast; Carvana, which dropped 7% after a downgrade by JPMorgan; Viasat, which collapsed 30% due to a satellite deployment anomaly; and Palo Alto Networks, which rose 4% after a price target lift by JPMorgan.

Portfolio Pulse from Piero Cingari

July 13, 2023 | 3:47 pm

OTIS

Otis Worldwide's (NYSE:OTIS) short percent of float has fallen 4.08% since its last report, with 3.88 million shares sold short, which is 0.94% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. However, it does not necessarily mean that the stock price will rise in the near term. Compared to its peers, Otis Worldwide has less short interest.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:45 pm

BLD

Jefferies analyst Philip Ng maintains a Buy rating on TopBuild (NYSE:BLD) and raises the price target from $262 to $320.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:45 pm

PLTR

Palantir Technologies's (NYSE:PLTR) short percent of float has fallen 4.14% since its last report, with 132.54 million shares sold short, which is 7.18% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. However, compared to its peers, Palantir has a higher short interest as a percentage of float (3.14%).

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:45 pm

SNPS

Synopsys's (NYSE:SNPS) short percent of float has fallen 42.98% since its last report, with 990 thousand shares sold short, which is 0.65% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. Synopsys's short interest as a percentage of float is less than its peer group average of 3.43%.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:45 pm

SUM

Jefferies analyst Philip Ng maintains a Buy rating on Summit Materials (NYSE:SUM) and raises the price target from $37 to $46.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:43 pm

SKY

Jefferies analyst Kevin Grundy maintains a Hold rating on Skyline Champion (NYSE:SKY) and raises the price target from $61 to $62.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:42 pm

NKE

A significant bearish stance on Nike (NYSE:NKE) has been observed through unusual options activity. The sentiment among these big-money traders is 91% bearish, with a price target range of $105.0 to $120.0 for Nike over the last 3 months. Despite this, several financial institutions have maintained their positive ratings on Nike, with price targets ranging from $127 to $142.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 3:38 pm

PGTI

Jefferies analyst Philip Ng maintains a Buy rating on PGT Innovations (NYSE:PGTI) and raises the price target from $33 to $37.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:37 pm

OC

Jefferies analyst Philip Ng maintains a Buy rating on Owens-Corning (NYSE:OC) and raises the price target from $142 to $160.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 3:34 pm