Streetbeat News

Stock Prices

CMTL

Comtech Telecommunications Corp. (CMTL) shares dropped over 16% due to weaker-than-expected quarterly earnings, reporting adjusted earnings of 24 cents per share against estimates of 26 cents. Sales were nearly in line with expectations at $151.91 million versus $151.87 million forecasted. The stock fell to $10.45. Other stocks moved in the session, with notable gainers including Intensity Therapeutics (INTS), MBIA Inc. (MBI), and ALX Oncology Holdings (ALXO), among others. Losers included Cyngn Inc. (CYN), African Agriculture Holdings (AAGR), and Golden Heaven Group Holdings (GDHG).

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 5:58 pm

CURV

Torrid Holdings Inc. (NYSE:CURV) reported Q3 results with net sales of $275.4 million, surpassing the consensus of $245.8 million, and a smaller EPS loss than expected. The company raised its FY23 revenue guidance to $1.125-$1.140 billion, above the $1.09 billion estimate, and adjusted EBITDA to $99-$103 million. Following the announcement, Torrid's shares surged by 20.7%. Morgan Stanley and Telsey Advisory Group both increased their price targets for Torrid.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 5:55 pm

ALT

KVUE

MLGO

NIO

SATL

Benzinga's Stock Whisper Index highlights five stocks that are gaining attention: Kenvue Inc (KVUE), MicroAlgo Inc (MLGO), NIO Inc – ADR (NIO), Satellogic Inc (SATL), and Altimmune Inc (ALT). Kenvue beat Q3 sales estimates with EPS in-line, while options activity suggests bearish sentiment. MicroAlgo's stock surged then fell after announcing a postgraduate training practice base. NIO delivered strong Q3 results and plans to spin off its battery division, but faced potential job cuts. Satellogic signed a multi-million dollar deal with Uzma, boosting its stock. Altimmune's Phase 2 obesity trial results were positive, especially as Pfizer halted its weight loss pill development, and M&A activity in the sector is rising.

Portfolio Pulse from Chris Katje

December 08, 2023 | 5:50 pm

BEAM

Beam Therapeutics' stock price has declined following a downgrade by Jefferies from Buy to Hold, accompanied by a significant reduction in the price target from $75 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:49 pm

FSR

Fisker Inc. (NYSE:FSR) has experienced a 5.98% increase in short interest since its last report, with 94.50 million shares sold short, representing 44.13% of its float. It would take about 6.44 days to cover all short positions. This rise in short interest may indicate a bearish market sentiment towards FSR, although it doesn't necessarily predict a price drop. Fisker's short interest is significantly higher than its peer group average of 9.05%.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 5:45 pm

LCID

Lucid Group, Inc. (NYSE:LCID) has experienced a 4.62% increase in short interest since its last report, with 250.81 million shares sold short, representing 21.5% of its float. The current short interest suggests a bearish market sentiment, as it is higher than the peer group average of 10.31%. It would take approximately 7.9 days for traders to cover their short positions based on average trading volume.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 5:45 pm

SMAR

BMO Capital analyst Keith Bachman has maintained an Outperform rating on Smartsheet (NYSE:SMAR) and increased the price target from $50 to $52.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:45 pm

CMG

Chipotle Mexican Grill (NYSE:CMG) has seen a 25.43% increase in short interest since its last report, with 793 thousand shares sold short, representing 2.91% of its float. It would take about 3.32 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. CMG's short interest is below its peer group average of 9.36%.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 5:45 pm

AURA

BTIG analyst Robert Hazlett has maintained a Buy rating on Aura Biosciences (NASDAQ:AURA) but has reduced the price target from $38 to $21.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:43 pm

HCP

BTIG analyst Gray Powell has maintained a Buy rating on HashiCorp (NASDAQ:HCP) but has reduced the price target from $33 to $25.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:42 pm