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QDEL

RBC released a note on QuidelOrtho, indicating no change in the company's status after speaking with management. QuidelOrtho has withdrawn its original Savanna RVP4+ Assay from the FDA 510(k) submission and plans to resubmit it before the 2024/2025 respiratory season.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 4:19 pm

MELI

Financial giants have shown a bearish trend on MercadoLibre (NASDAQ:MELI) options, with 57% bearish trades among 14 unusual trades. The price band focus is between $1460.0 and $1910.0. The largest trades include both bullish and bearish sentiments, with significant open interest and volume in options. MercadoLibre, a leading e-commerce platform in Latin America, is currently trading at $1511.0, down by -1.17%. Analysts have set an average price target of $1980.0, with Citigroup and Wedbush providing recent ratings.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 4:15 pm

NXL

Nexalin Technology, Inc. has been granted U.S. Patent #11944806 for a method of transcranial alternating current dynamic frequency stimulation aimed at treating anxiety, depression, and insomnia. This development could potentially enhance Nexalin's product offerings and market position in the mental health treatment sector.

Portfolio Pulse from Charles Gross

April 02, 2024 | 4:01 pm

LLY

NVO

Eli Lilly & Co (NYSE:LLY) faces competition in the weight-loss drug market with its product Zepbound but shows technical resilience and investment potential. Despite competition from Novo Nordisk (NYSE:NVO), Eli Lilly's stock has shown impressive gains, with a 116.84% increase over the past year and a 29.45% return in 2024. Technical analysis reveals mixed signals, with both bullish and bearish indicators. Analysts from Cantor Fitzgerald, Truist Securities, and JP Morgan have set an average price target of $838.33 for LLY, suggesting a potential upside of 10.55%.

Portfolio Pulse from Surbhi Jain

April 02, 2024 | 3:39 pm

TM

Toyota Motor North America (TMNA) reported a significant increase in U.S. sales for March 2024, with a total of 214,894 vehicles sold, marking a 21.8% increase YoY. Electrified vehicles played a major role, comprising 36.4% of total sales with 78,157 units sold. The first quarter showed a similar trend, with electrified vehicle sales surging 74% and representing 36.6% of the total 565,098 vehicles sold. Toyota and Lexus brands are expanding their electrified offerings, planning to launch over 20 new or refreshed vehicles, including hybrid versions of the Tacoma, Land Cruiser, and Camry.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 3:32 pm

HSBC

HSBC Holdings Plc is considering the sale of its wealth-management, custody, and fund administration units in Germany as part of its strategy to focus more on its core Asian operations. The review is in its early stages, and there's no guarantee of a sale. This move aligns with HSBC's recent trend of exiting non-core businesses and markets, including North America and French retail operations. The bank's German fund administration business, Inka, manages approximately €400 billion in assets. HSBC's German private banking activities generated about $90 million in revenue in 2023.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 3:23 pm

NVO

Recent options trading activity for Novo Nordisk (NYSE:NVO) shows a bearish sentiment among investors, with 66% of trades being bearish. Significant trading activity has targeted a price range of $75.0 to $155.0 for NVO over the last 3 months. The company, a leader in diabetes-care products, has seen its stock price decrease by -1.98% to $125.03. Analysts have set an average target price of $160.0 for NVO, despite its current neutral RSI indicators and upcoming earnings release in 30 days.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 3:16 pm

DIVS

PAYX

UDI

Paychex, Inc. (NASDAQ:PAYX) reported a 4% year-over-year sales growth in Q3 FY24, missing analyst estimates. Adjusted EPS of $1.38 beat estimates. The company revised its FY24 revenue growth outlook to 5%-6% from the previously forecasted 6%-7%. Paychex is focusing on investments in data, analytics, and AI. Investors can gain exposure to Paychex through USCF ETF Trust USCF Dividend Income Fund (NYSE:UDI) and SmartETFs Dividend Builder ETF (NYSE:DIVS). PAYX shares slightly declined by 0.05% to $121.56.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 3:15 pm

MNDR

Mobile-health Network Solutions (MNDR) is set to begin trading on NASDAQ on April 3, with an IPO price range of $4.00 to $5.00 per share. The company, a leading telehealth solutions provider in Singapore, has an insider lock-up period ending on September 30, 2024.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 3:00 pm

CVS

ELV

HUM

TSLA

UNH

USO

An Israeli air strike killed a top Iranian general, causing oil prices to rise and impacting stock market sentiment negatively due to inflation concerns. Tesla Inc and several healthcare companies including CVS Health Corp, Elevance Health Inc, UnitedHealth Group Inc, and Humana Inc are facing selling pressure due to disappointing news. Early trade shows negative money flows in major tech stocks and ETFs, while the momo crowd is buying stocks and gold. The United States Oil ETF is popular among oil buyers. Investors are advised to adjust their protection bands in light of these developments.

Portfolio Pulse from The Arora Report

April 02, 2024 | 2:57 pm