Streetbeat News

Stock Prices

ZBH

Zimmer Biomet reports robust growth, with a 6% increase in U.S. sales and 9% internationally, attributing success to its strong product lineup, including the ROSA robotics division and the new Persona OsseoTi cementless knee. The company is gaining market share from competitors and has implemented a 10%-15% price premium on its products.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:51 pm

VCEL

Vericel Corporation's stock is trading higher following the announcement of preliminary revenue for FY23 and Q4 that exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:51 pm

ILMN

JNJ

Illumina, Inc. (NASDAQ:ILMN) shares rose after announcing preliminary Q4 and fiscal year 2023 financial results, with revenue of $1.115 billion, exceeding analyst expectations. The company also confirmed a partnership with Janssen Research & Development, a Johnson & Johnson (NYSE:JNJ) unit, to develop a novel molecular residual disease assay. Illumina's stock price increased by 7.26% to $143.38.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 4:51 pm

ROMA

Roma Green Finance shares resumed trading after a circuit breaker halt. The halt was triggered due to significant volatility in the stock's price. Investors should be aware of potential increased volatility in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:49 pm

UNP

Union Pacific Corp's rail network is experiencing disruptions due to severe winter weather conditions, including heavy snow, blizzards, ice, and power outages across Nebraska, Kansas, and Oklahoma. The inclement weather has also led to road closures, which are affecting the company's ability to transport crews needed to operate trains.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:47 pm

BARK

BARK shares have seen an uptick following the company's announcement of preliminary Q3 total revenue guidance that surpassed analyst estimates.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 4:47 pm

AL

BA

EADSY

Air Lease Corp (AL) provided an operational and financing update for Q4 FY23, reporting the delivery of 22 new aircraft, including models from Airbus (EADSY) and Boeing (BA). The company invested approximately $1.2 billion in aircraft during the quarter and sold seven aircraft for about $440 million. Air Lease's fleet now includes 463 owned and 78 managed aircraft, with 334 new aircraft on order to be delivered by 2029. The company also increased its senior unsecured revolving credit facility to $7.4 billion. AL plans to announce Q4 FY23 results on February 15, 2024. In November, AL signed a lease agreement with EGYPTAIR for 18 new Boeing 737-8 aircraft. AL's stock is currently trading down by 0.91% at $40.15.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 4:46 pm

CRWD

CrowdStrike Holdings Inc (NASDAQ:CRWD) stock is experiencing an uptick due to an upgrade from Morgan Stanley. Analyst Hamza Fodderwala changed the rating from Equal-Weight to Overweight and increased the price target from $203 to $304. The upgrade is based on expectations of improved demand, platform traction, and new AI product cycles, which are anticipated to contribute to higher annual recurring revenue and free cash flow in 2024. Despite a 185% rally in the past year, further growth is expected due to these factors. CrowdStrike's forward P/E ratio is 71.43, above the peer average of 58.64, and it has shown an average annual revenue growth of 74.58% over the past 5 years.

Portfolio Pulse from Adam Eckert

January 09, 2024 | 4:45 pm

PGR

Progressive Corporation's (NYSE:PGR) short interest has decreased by 8.57% since the last report, with 3.73 million shares sold short, representing 0.64% of available shares. The average time to cover these short positions is 1.27 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Progressive has a lower short interest compared to its peer group average of 1.91%.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 4:45 pm

PKX

POSCO Holdings (NYSE:PKX) has seen a decrease in short interest, with the short percent of float falling 4.17% since the last report. The company has 707 thousand shares sold short, representing 0.23% of available shares, with a cover time of 4.52 days. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term price rise. POSCO Holdings has less short interest compared to its peer group average of 4.72%.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 4:45 pm