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PGTI

Truist Securities analyst Keith Hughes has downgraded PGT Innovations (NYSE:PGTI) from Buy to Hold and set a price target of $43.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:46 pm

JBLU

B of A Securities analyst Andrew Didora has downgraded JetBlue Airways (JBLU) from Neutral to Underperform and reduced the price target from $6 to $3, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:43 pm

GSK

LLY

NVO

PFE

Pfizer Inc's CEO Albert Bourla confirmed at the JP Morgan Healthcare Conference the company's commitment to the obesity drug market despite a previous candidate's failure due to side effects. Competitors Eli Lilly and Novo Nordisk are already established in this market with their GLP-1 agonist drugs. The obesity drug sector is projected to reach $100 billion by the end of the decade. Pfizer is looking for licensing deals or early-stage medications rather than acquiring a late-stage treatment. Pfizer's danuglipron showed significant weight loss but had high dropout rates due to side effects. Pfizer also revised its 2024 sales forecast down by up to $5 billion, and its RSV vaccine Abrysvo is underperforming compared to GSK's rival vaccine. Pfizer's stock was up 0.61% in premarket trading.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 12:42 pm

ULCC

B of A Securities analyst Andrew Didora has downgraded Frontier Group Holdings (NASDAQ:ULCC) from Buy to Neutral and set a price target of $6.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:42 pm

Alcoa Corporation (NYSE:AA) is set to fully curtail production at its Kwinana Alumina Refinery in Western Australia in 2024, starting in Q2 2023. The refinery, operating at 80% capacity since January 2023, will gradually reduce its workforce from 800 to 50 by Q3 2025. The curtailment is due to the refinery's age, costs, and market conditions. Alcoa expects to improve annual earnings by $70 million post-curtailment, despite incurring $40 million in non-cash expenses. Restructuring charges of $180-$200 million will be recorded in Q1 2024, with Alcoa's share at $76-$84 million. Alcoa's stock dropped 1.04% in premarket trading.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 12:37 pm

BBD

Goldman Sachs analyst Tito Labarta downgraded Bank Bradesco (NYSE:BBD) from Neutral to Sell and set a price target of $3.2.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:36 pm

AAPL

ALK

CRM

HPE

INTC

JNPR

MTCH

NVDA

QQQ

SPY

WBA

U.S. stock futures indicate a potential downtrend on Tuesday after Monday's rally, with traders eyeing the upcoming inflation report and big bank earnings. Despite caution, a tech merger, Bitcoin ETF optimism, and rising oil prices could drive buying. Boeing's issues with the 737 Max 9 affected the Dow, but it recovered thanks to gains in Apple, Intel, Salesforce, and Walgreens. Juniper Networks surged on acquisition news by Hewlett Packard Enterprise, while Match Group rose on Elliott Management's stake. The International CES and JPMorgan Healthcare Conference may impact related stocks. Oil prices and Bitcoin are up, while Asian markets closed mostly higher.

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 12:35 pm

WRB

Evercore ISI Group analyst David Motemaden downgraded WR Berkley (NYSE:WRB) from Outperform to In-Line but increased the price target from $69 to $79.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:33 pm

CHPT

EVGO

TSLA

Tesla, Inc. (TSLA) has significantly outpaced competitors ChargePoint Holdings, Inc. (CHPT) and EVgo Inc (EVGO) in the installation of fast chargers, adding 6,000 in 2023 while CHPT and EVGO added only 410 and 850, respectively. Tesla's unique connector design gives it a competitive edge. ChargePoint experienced a market value decline and a CEO change, with new CEO Rick Wilmer citing economic uncertainty as a reason for customers' reluctance to invest in chargers. U.S. public charging stations are behind BloombergNEF's 2023 forecast by 76%, and the U.S. is expected to trail China and Europe in charging infrastructure. CHPT and EVGO stocks are trading lower premarket, as is TSLA.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 12:33 pm

HYZN

Hyzon Motors Inc. (NASDAQ:HYZN) has made significant progress in 2023, deploying 19 hydrogen fuel cell electric vehicles (FCEVs) across three continents and advancing its 200kW fuel cell system technology. The company met its annual guidance by delivering vehicles to customers in the U.S., Europe, and Australia, including the first heavy-duty fuel cell electric truck in the U.S. Hyzon's single-stack 200kW fuel cell system, which is lighter and more cost-effective than combining two 100kW systems, has completed B-sample development. The company is now entering the C-sample development phase, with production expected to start in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:33 pm