Streetbeat News

Earnings

Financial analysts have observed a bullish trend in options trading for Cigna Group (NYSE:CI), with 72% of trades being bullish. The trading activity suggests a target price range of $270 to $390. The analysis includes a detailed review of call and put volumes, largest trades, and the company's current market status, including a recent downgrade by Cantor Fitzgerald to Overweight with a target price of $384. Cigna's stock is currently at $349.13, with trading volume at 893,618 and an RSI indicating a neutral position. The company, a major player in health insurance and pharmacy benefit management, is expected to announce earnings in 16 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 5:01 pm

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Kyle Kazan, CEO of Glass House Brands Inc., emphasized the need to end imprisonment for cannabis and advocated for federal legalization at the Benzinga Cannabis Capital Conference. He highlighted the company's success in California, reporting an 89% surge in annual revenue to $160.8 million and the introduction of a new value cannabis brand, Allswell, aimed at competing with the illicit market. Despite challenges like high taxes and a thriving traditional market, Glass House plans to continue its expansion in California.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 4:32 pm

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In Tuesday's intraday session, several industrials stocks experienced significant movements. Notable gainers included Ryde Group, JanOne, Laser Photonics, AERWINS Technologies, Pixie Dust Technologies, and Guardforce AI Co, with increases ranging from 12.26% to 25.1%. On the downside, Skillsoft, Complete Solaria, Surf Air Mobility, Recruiter.Com Group, SolarMax Technology, and KULR Tech Gr saw declines between 9.82% and 36.9%. Earnings reports influenced some of these movements.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 4:31 pm

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Massimo Group's shares surged following a report of improved Q4 financial results year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:18 pm

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Massimo Group reported a significant increase in its Q4 2023 earnings, with EPS rising to $0.10 from $0.00 year-over-year. Revenue also saw a substantial increase, reaching $39.6M up from $25.0M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:18 pm

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Intra-Cellular Therapies Inc (NASDAQ:ITCI) announced positive topline results from Study 501 for lumateperone 42 mg as an adjunctive therapy for major depressive disorder (MDD), showing significant symptom relief. The results demonstrated a statistically significant reduction in the MADRS total score compared to placebo at Week 6. The company's shares surged 27.60% to $82.64 following the announcement. Further results from Study 502 are expected in the second quarter.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 4:13 pm

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Morgan Stanley reported better-than-expected Q1 earnings with revenues of $15.1 billion and EPS of $2.02, surpassing consensus estimates. U.S. stocks showed mixed performance, with the Nasdaq Composite down 0.2%. Health care shares rose by 0.2%, while real estate shares fell by 1.8%. Jaguar Health, WiSA Technologies, and Palisade Bio saw significant stock increases due to new agreements and analyses. Conversely, Barnes & Noble Education, Calidi Biotherapeutics, and Pacific Biosciences faced sharp declines due to a shareholder rights plan, public offering pricing, and weak guidance, respectively.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 4:11 pm

Goldman Sachs Group Inc (NYSE:GS) received varied analyst ratings after reporting strong Q1 results, highlighting its core strengths in investment banking and market share gains in Equities. Analysts from Argus Research, JPMorgan, BMO Capital Markets, Keefe, Bruyette & Woods, and Oppenheimer provided updates on their ratings and price targets, citing factors such as investment banking upturn, higher revenues, and strategic exits from consumer businesses as key drivers. Despite a slight decline in share price, the consensus points towards a positive outlook for Goldman Sachs.

Portfolio Pulse from Priya Nigam

April 16, 2024 | 4:09 pm

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Recent options trading activity for Barrick Gold (NYSE:GOLD) shows a bearish sentiment among investors, with a notable volume of trades predicting a price range of $10.0 to $25.0. Analysis of call and put options indicates mixed expectations, with 43% bullish and 56% bearish trades. Significant trades include both bullish and bearish positions, with a focus on strike prices between $15.00 and $20.00. Barrick Gold, a major gold and copper producer, has seen its stock price decrease by -5.73%, with an upcoming earnings announcement in 15 days.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 4:02 pm

SCHW

Charles Schwab Corporation (NYSE:SCHW) reported Q1 earnings, with shares showing volatility in early trading. Analysts from JPMorgan, Piper Sandler, Goldman Sachs, and Keefe, Bruyette & Woods provided insights, adjusting their price targets and ratings based on the company's performance, including net interest income, cost management, and customer metrics. Key highlights include better-than-expected earnings per share, solid March metrics, stable core deposits, and strong retail engagement.

Portfolio Pulse from Priya Nigam

April 16, 2024 | 4:02 pm