Streetbeat News

Earnings

PARA

Deep-pocketed investors have shown a bullish sentiment towards Paramount Global (NASDAQ:PARA), with a significant move in options activity detected by Benzinga. The activity includes 16 extraordinary options trades, with a bullish majority aiming for a price range of $10.0 to $18.0 in the next three months. Paramount Global, a major player in TV media, filmed entertainment, and direct to consumer segments, is currently trading up by 1.54% at $12.56. The company's anticipated earnings release is in 27 days, and its stock may be approaching overbought territory according to RSI readings.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 6:01 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares have fallen over 30% in the past five days amid concerns over its financial health and a request for a probe into its merger with Digital World Acquisition. The Congressional Integrity Project has asked for an investigation into potential influence peddling and corruption. Trump Media reported a revenue of $4.13 million for 2023 but warned of ongoing financial losses and negative cash flows.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 5:41 pm

PFE

A study published in the New England Journal of Medicine on Pfizer Inc's Paxlovid for COVID-19 shows it's safe but questions its efficacy in low-risk patients. The study found no significant difference in symptom alleviation between Paxlovid and placebo groups. Editorial commentary suggests Paxlovid's benefits are likely greater for high-risk individuals.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 5:28 pm

BYRN

GCTS

HUBC

MDIA

STIX

Byrna Technologies Inc. shares rose by 7.1% after reporting Q1 revenue that exceeded expectations and announcing a CFO transition. Other stocks also moved significantly in the mid-day session, with notable gainers including MediaCo Holding Inc., HUB Cyber Security Ltd., and GCT Semiconductor Holding, Inc., among others. Losers included Semantix, Inc., noco-noco Inc., and IM Cannabis Corp. Key reasons for movements include stake acquisitions, financing deals, MOUs, earnings reports, and analyst ratings.

Portfolio Pulse from Avi Kapoor

April 05, 2024 | 5:06 pm

TARA

Protara Therapeutics Inc (NASDAQ:TARA) shared interim data from its bladder cancer study, showing a 38% complete response rate in NMIBC patients. The company also announced a $45M equity raise through a private placement of shares and warrants. Additionally, Protara reached alignment with the FDA on a registrational path for IV Choline Chloride, planning a trial for FDA approval in the first half of 2025.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 4:57 pm

ACOR

CADL

GALT

OCGN

In Friday's intraday session, several healthcare stocks experienced significant movements. Candel Therapeutics, Galectin Therapeutics, and Ocugen were among the top gainers, with notable increases in their stock prices. Conversely, Acorda Therapeutics, Aesthetic Medical Intl, and Ontrak were among the top losers, experiencing significant declines. The movements were attributed to various factors, including quarterly earnings releases for some companies.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:39 pm

BDSX

GCTS

HUBC

MDIA

STIX

ZGN

U.S. stocks traded higher with the Nasdaq Composite gaining over 200 points. The Dow and S&P 500 also saw increases. Notably, MediaCo Holding Inc. (MDIA) shares surged 207% after a significant stake acquisition by Standard General L.P. GCT Semiconductor Holding, Inc. (GCTS) and HUB Cyber Security Ltd. (HUBC) experienced substantial gains following a development MOU and financing announcement, respectively. Conversely, Semantix, Inc. (STIX), Ermenegildo Zegna N.V. (ZGN), and Biodesix, Inc. (BDSX) saw notable declines. The U.S. labor market outperformed expectations with 303,000 nonfarm payrolls added in March.

Portfolio Pulse from Avi Kapoor

April 05, 2024 | 4:19 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares dropped 7% since Tuesday following its Q1 production and delivery report, producing 13,980 vehicles and delivering 13,588. Despite reaffirming its 57,000 vehicle production target for 2024, Morgan Stanley lowered its price target from $14 to $13. Rivian is expected to report a Q1 loss of $1.16 per share with $1.13 billion in revenue. The stock hit a 52-week low of $10.03, with 20.89% of shares sold short. Wall Street views Rivian as Neutral, with a significant expected decline.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 4:01 pm

NVO

Novo Nordisk (NYSE:NVO) has been the subject of diverse analyst opinions ranging from bullish to bearish over the past quarter, with a recent shift towards more bullish sentiments. The average 12-month price target for NVO has increased to $144.5, up from $125.00, indicating a positive outlook from financial analysts. This comes amidst Novo Nordisk's strong financial performance, including a significant revenue growth rate of 36.95% and high profitability metrics such as a net margin of 33.35% and ROE of 22.01%. The company, a leader in diabetes care, also shows effective debt management with a low debt-to-equity ratio of 0.25.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:01 pm

CHTR

Charter Communications (NASDAQ:CHTR) has been evaluated by 11 financial analysts over the last three months, showing a diverse range of opinions. Recent ratings indicate a shift towards a more cautious stance, with no bullish ratings in the last 30 days compared to previous months. The average 12-month price target for CHTR has been adjusted to $347.91, marking a 12.41% decrease from the prior average. Analysts from firms including Wells Fargo, Barclays, and JP Morgan have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Charter Communications, a major player in the cable industry, has shown impressive financial performance with significant revenue growth and strong profitability metrics, despite challenges in debt management.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:00 pm