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SP

SP Plus (NYSE:SP) has seen a 13.99% increase in short interest since its last report, with 1.30 million shares sold short, representing 6.68% of its float. This indicates a bearish market sentiment, as short selling suggests investors are betting on the stock's decline. However, an increase in short interest can sometimes be bullish, as covering short positions can drive the stock price up. SP Plus has a higher short interest compared to its peer group average of 2.80%, suggesting more bearish sentiment towards it than its peers.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 4:45 pm

EDBL

INVO

LGVN

OTRK

PLCE

SAGE

U.S. stocks traded lower, with the Dow Jones falling 0.32%, NASDAQ down 1.16%, and the S&P 500 dropping 0.74%. Utilities shares rose by 0.7%, while information technology shares fell by 0.9%. INVO Bioscience, Edible Garden AG, and The Children's Place saw significant gains, whereas Longeveron, Sage Therapeutics, and Ontrak experienced notable declines. Crude oil inventories increased, and oil prices fell by 1.5%.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 4:44 pm

BA

LMT

Boeing Co (NYSE:BA) is focusing on its Defense, Space & Security segment amid challenges in its airplane division due to safety issues. The company, in partnership with NASA, is preparing for a crew flight test mission of its Starliner spacecraft, aiming to certify it for crewed missions to the International Space Station. This move could provide a fresh perspective and optimism for shareholders, as the space segment represents a significant part of Boeing's revenue. Lockheed Martin Corp (NYSE:LMT) is also mentioned as part of the United Launch Alliance joint venture with Boeing.

Portfolio Pulse from Chris Katje

April 17, 2024 | 4:42 pm

SAGE

Sage Therapeutics Inc (NASDAQ:SAGE) reported disappointing results from its Phase 2 PRECEDENT study of dalzanemdor (SAGE-718) in mild cognitive impairment in Parkinson's Disease, failing to meet its primary endpoint. The drug was well-tolerated with no new safety issues, but due to the lack of significant efficacy, the company will not continue its development for Parkinson's Disease. However, Sage Therapeutics plans to proceed with dalzanemdor's Phase 2 clinical development for other conditions, with key milestones expected in 2024. Following the news, SAGE shares dropped 23.80% to $11.91.

Portfolio Pulse from Vandana Singh

April 17, 2024 | 4:41 pm

SINT

SiNtx Technologies, Inc. (NASDAQ:SINT) shares surged following the announcement of a special stockholders meeting to vote on a reverse stock split proposal. The meeting is scheduled for May 14, with the reverse split ratio proposed between 1-for-100 and 1-for-300. This comes after the company's recent public offering of 71.6 million shares at $0.021 each on April 5. Trading volume spiked to over 247 million shares, significantly above the 100-day average of 9.1 million shares.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 4:39 pm

BCHUSD

Bitcoin Cash (BCH) experienced a 6.8% drop to $450.22 amid a broader cryptocurrency market downturn, influenced by a decline in Bitcoin's price. The correlation between Bitcoin's performance and altcoins like Bitcoin Cash is highlighted, with speculative trading and profit-locking actions contributing to the volatility. The impact of Bitcoin as an institutional asset class will be discussed at Benzinga's Future of Digital Assets event.

Portfolio Pulse from Henry Khederian

April 17, 2024 | 4:37 pm

DASH

UBER

Traders are closely monitoring Doordash and Uber Technologies as senators seek information on the companies' junk fees. This increased scrutiny could impact the companies' operational and financial practices.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:35 pm

NKLA

Nikola Corporation's (NASDAQ:NKLA) stock has declined over 33% in the past five days following allegations of fraudulent conduct by its management and certain directors by M&M Residual. The company is expected to report Q1 financial results on May 7, with anticipated losses of 10 cents per share and revenue of $14.235 million. The stock's current price is below its 200-day moving average, indicating a bearish signal according to some investors.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 4:32 pm

MAMO

VFS

ZAPP

In Wednesday's intraday session, 12 consumer discretionary stocks saw significant movements. Notably, Massimo (MAMO) surged 19.4% after announcing Q4 earnings, while Zapp Electric Vehicles (ZAPP) plummeted 35.7%. Other gainers include Kidpik (PIK), Children's Place (PLCE), EZGO Technologies (EZGO), WW International (WW), and ATA Creativity Glb (AACG). Losers comprised Kaival Brands Innovations (KAVL), VinFast Auto (VFS), Mullen Automotive (MULN), Fossil Group's Senior Notes (FOSLL), and Educational Development (EDUC).

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 4:31 pm

BX

Blackstone (NYSE:BX) has seen a surge in options activity, with a bullish sentiment from the majority of trades. Analysis of options history revealed 38 trades, with 60% bullish and 39% bearish. The trades include 29 puts and 9 calls, indicating a price target range of $95.0 to $160.0. The largest options trades include both bullish and bearish sentiments, with strike prices ranging from $125.00 to $140.00. Blackstone, the world's largest alternative-asset manager, has $1.040 trillion in assets under management. The stock price is currently $122.6, with an upcoming earnings report.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 4:31 pm