Streetbeat News

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BBY

DAVA

ENVB

KA

LPSN

SCTL

VERX

U.S. stocks traded mixed with the Nasdaq Composite up by 100 points. Best Buy reported better-than-expected Q4 earnings, beating estimates with an EPS of $2.72 and sales of $14.646 billion. The company also increased its quarterly dividend by 2% and provided FY25 guidance. Societal CDMO, Enveric Biosciences, and Vertex saw significant stock price increases, while LivePerson, Endava, and Kineta experienced notable declines. Oil and gold prices rose, and economic indicators showed mixed results globally.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 5:24 pm

BTCUSD

A cryptocurrency investor known as Sunny Po on X went viral for maxing out 8 credit cards to buy 1.4488 Bitcoin at an average price of $37,443, accruing $54,251 in debt. As of Feb. 27, Po reported unrealized profits of $27,321 and plans to manage the 0% APR on his credit cards until November 2026. The strategy has attracted attention on crypto Twitter, with mixed reactions. Bitcoin's price has recently surpassed $60,000, raising both concerns and excitement about such speculative investment tactics.

Portfolio Pulse from Ivan Crnogatić

February 29, 2024 | 5:02 pm

NEE

NextEra Energy (NYSE:NEE) has delivered an average annual return of 9.8% over the past 20 years, outperforming the market by 2.09% annually. A $100 investment in NEE 20 years ago would now be worth $647.25. The company currently has a market capitalization of $113.58 billion.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:00 pm

DFS

Discover Financial Services (NYSE:DFS) has significantly outperformed the market with an average annual return of 23.75% over the past 15 years, turning a $100 investment into $2,474.03 today. The company currently has a market capitalization of $31.07 billion.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:00 pm

EDIT

Editas Medicine (NASDAQ:EDIT) has seen a positive shift in analyst ratings over the last three months, with an average 12-month price target now at $14.00, up 27.27% from $11.00. Analysts from Citigroup, Barclays, JP Morgan, and Truist Securities have all raised their price targets, reflecting optimism about the company's future performance. Editas Medicine, a genome editing company, has shown remarkable financial health with a revenue growth rate of 12604.76% as of September 30, 2023, and strong market capitalization, net margin, ROE, and ROA figures.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:00 pm

GLPI

RBC Capital has maintained its Outperform rating for Gaming and Leisure Props (NASDAQ:GLPI) but lowered its price target from $50.00 to $49.00. GLPI's shares have risen 1.27% in the last 24 hours to $46.10. A move to $49.00 represents a 6.29% increase from the current price. GLPI is a REIT primarily leasing to subsidiaries of Penn National Gaming in the U.S., with most revenue from rental income.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:00 pm

AI

IWM

SPY

The Fed's preferred inflation gauge, PCE, rose significantly, leading to a positive reaction in the stock market, particularly in AI stocks like C3.ai Inc, and Bitcoin. The PCE data showed deflation in goods but inflation in services. Aggressive buying was also seen in small caps, as indicated by the iShares Russell 2000 ETF. The article also discusses global economic influences, including Bank of Japan's interest rate signals and Putin's nuclear threats. Positive money flows were noted in major tech stocks, while Amazon showed negative flows. Gold, oil, and Bitcoin saw aggressive buying, with Bitcoin nearing $64,000 again.

Portfolio Pulse from The Arora Report

February 29, 2024 | 4:46 pm

LVS

Las Vegas Sands (NYSE:LVS) has seen a 15.38% increase in its short percent of float since the last report, with 7.01 million shares sold short, representing 1.95% of all shares available for trading. This increase in short interest can indicate a bearish market sentiment towards LVS, but it's also noted that a rise in short interest can sometimes be bullish. LVS's short interest is below its peer group average of 3.96%.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:45 pm

BLUE

bluebird bio (NYSE:BLUE) has seen a 4.01% increase in its short percent of float since the last report, reaching 15.84% of all shares available for trading. With 28.59 million shares sold short, it would take about 3.42 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards BLUE, although it doesn't necessarily predict a near-term price drop. Compared to its peers, BLUE has a significantly higher short interest, with the peer group average at 5.50%.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:45 pm

ETN

Eaton Corp's (NYSE:ETN) short interest has decreased by 5.26%, with 3.58 million shares sold short, representing 0.9% of its float. This decrease in short interest could indicate a more bullish sentiment towards ETN among traders. Compared to its peers, ETN has a significantly lower short interest percentage of float, with an average of 10.09% among its peers, suggesting better performance or sentiment towards ETN in its industry.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:45 pm