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ALB

GME

GTLB

HOOD

TLT

US stocks showed weakness on Tuesday, with the S&P 500, Dow Industrials, and Russell 2000 indices closing lower, while the Nasdaq 100 remained flat. Moody's downgrade of China's credit outlook and mixed economic data influenced market sentiment. The dollar and U.S. Treasuries, particularly the iShares 20+ Year Treasury Bond ETF (TLT), gained. Gold and silver prices dropped. Bitcoin surged on rumors of a potential investment by Qatar's sovereign wealth fund. Technology and consumer discretionary sectors outperformed, while materials and energy sectors lagged. Gamestop (GME) and Albemarle Corp. (ALB) stocks fell, while GitLab (GTLB) and Robinhood (HOOD) rose.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:15 pm

Goldman Sachs Gr (NYSE:GS) has seen a 13.51% increase in short interest since its last report, with 4.09 million shares sold short, representing 1.26% of its float. It would take about 1.81 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, GS has less short interest, with the peer group average at 4.10% of float.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:15 pm

MDT

Medtronic (NYSE:MDT) has experienced a 14.04% increase in short interest since its last report, with 8.68 million shares sold short, representing 0.65% of its float. The short interest now requires approximately 1.28 days to cover based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Medtronic's short interest is below its peer group average of 3.77%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:15 pm

GWW

W.W. Grainger (NYSE:GWW) has experienced a 29.05% increase in short interest since its last report, with 1.06 million shares sold short, representing 2.71% of its float. It would take about 3.47 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, GWW has a lower short interest as a percentage of float, with the peer group average at 5.04%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 6:15 pm

Micron Technology, Inc. has announced the release of its Micron 3500 NVMe SSD, which uses advanced 232-layer NAND technology to improve performance in various PC applications including business, scientific computing, gaming, and content creation. The SSD offers up to 2TB capacity and superior user experience, with a 132% improvement in scientific computing benchmarks. It also supports DirectStorage for faster game load times and enhances file loading and editing for high-resolution video content creators.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 6:14 pm

AVB

CCI

HPP

REG

RLJ

Analysts have recently upgraded REITs across various subsectors, indicating a positive outlook for the real estate market. First Industrial Realty Trust (FR) was upgraded by Mizuho with a new price target suggesting an 11% gain. Hudson Pacific Properties (HPP) was upgraded by Goldman Sachs to Neutral, surpassing its price target. Regency Centers Corp (REG) received an upgrade from Compass Point with a 10.5% potential gain. AvalonBay Communities (AVB) was upgraded by JPMorgan to Neutral with a 9.1% potential gain. RLJ Lodging Trust (RLJ) was upgraded by Oppenheimer to Outperform with a 17.9% potential gain. Crown Castle Inc. (CCI) saw a share price surge after Elliott Investment Management's call for changes, and was upgraded by Wells Fargo to Equal-Weight with a new price target.

Portfolio Pulse from Ethan Roberts

December 05, 2023 | 6:11 pm

GVA

Granite Construction Inc (NYSE:GVA) has acquired Lehman-Roberts Company and Memphis Stone & Gravel Company, enhancing its presence in the Memphis metropolitan area. The acquisition includes strategic assets like asphalt plants and sand and gravel mines, along with significant material reserves. Following the acquisition, GVA raised its FY24 sales outlook from $3.6-$3.9 billion to $3.8-$4.0 billion, while maintaining its adjusted EBITDA margin outlook. The purchase was financed through a new term loan and existing funds. GVA's stock saw a slight decline of 0.72% to $47.10.

Portfolio Pulse from Lekha Gupta

December 05, 2023 | 6:09 pm

Western Union Co (NYSE:WU) shares dropped about 5% over the past week. BMO Capital Markets analyst Rufus Hone initiated coverage with a Market Perform rating and a $12 price target, citing concerns over the company's ability to generate sustainable revenue growth in a competitive and slower growing remittance market. Hone suggests that it's too early to bank on a turnaround for Western Union, as the company may face macro headwinds and need additional investment to drive customer and transaction growth.

Portfolio Pulse from Priya Nigam

December 05, 2023 | 6:08 pm

BABA

FXI

NIO

YUMC

Moody's Investors Service downgraded its outlook on China's government credit ratings from stable to negative, citing concerns over fiscal stability and economic growth. This has led to a significant sell-off in Chinese stocks, with the iShares China Large-Cap ETF (FXI) dropping over 10% in the last 10 sessions. Major Chinese companies listed in the US, including Alibaba (BABA), Tencent (OTCPK: MPNGY), and Meituan, saw negative trading, with Yum China (YUMC) and NIO Inc. (NIO) experiencing the most notable moves.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:07 pm

DAKT

Daktronics, Inc. (NASDAQ:DAKT) shares fell over 10% due to weaker-than-expected quarterly results, with earnings of 5 cents per share versus the estimated 13 cents and sales of $199.37 million against the expected $213.70 million. Other stocks experienced significant movements in Tuesday's mid-day session, with notable gainers including Meiwu Technology Company Limited (WNW), Volato Group, Inc. (SOAR), and Clearmind Medicine Inc. (CMND), among others. Losers included Replimune Group, Inc. (REPL), iBio, Inc. (IBIO), and Designer Brands Inc. (DBI), which all saw substantial declines in their share prices.

Portfolio Pulse from Lisa Levin

December 05, 2023 | 6:06 pm