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Stock Prices

BLUE

Bluebird Bio's stock (BLUE) is trading higher following an upgrade by Morgan Stanley from Underweight to Equal-Weight and an increase in the price target from $3 to $7.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:50 pm

ARKB

FBTC

Fidelity has listed its Spot Bitcoin ETF, FBTC, on the DTCC, with the SEC closely monitoring the approval process. BlackRock's iShares spot Bitcoin ETF and Grayscale's application are also under SEC review, with a decision window from Jan. 5 to Jan. 10, 2024. The market anticipates approval, which could further boost Bitcoin prices. Fidelity also applied for a spot Ethereum ETF. Negative sentiments around Bitcoin were expressed by Senator Elizabeth Warren and JPMorgan CEO Jamie Dimon, citing its use in illegal activities.

Portfolio Pulse from Khyathi Dalal

December 08, 2023 | 4:50 pm

JBLU

SAVE

The trial between JetBlue Airways Corp (JBLU) and Spirit Airlines Inc (SAVE) over their proposed $3.8 billion merger has concluded. U.S. District Judge William Young indicated the acquisition might be approved with conditions, such as JetBlue divesting additional assets. The Justice Department had sued to block the merger, citing antitrust concerns. JetBlue's stock has seen a recent recovery, while Spirit's stock has rallied significantly over the past month.

Portfolio Pulse from Surbhi Jain

December 08, 2023 | 4:48 pm

BMEA

Biomea Fusion Inc (NASDAQ:BMEA) reported results from a Phase 2 study and preclinical ex-vivo human islet experiments for BMF-219, a treatment for type 2 diabetes. The study showed improved HbA1c levels in participants, with varying degrees of efficacy based on dosage and food intake. BMF-219 also demonstrated potential benefits in beta cell mass and function. Despite these findings, BMEA shares dropped 17.90% to $12.35.

Portfolio Pulse from Vandana Singh

December 08, 2023 | 4:48 pm

PPIH

Perma-Pipe International Holdings Inc (NASDAQ:PPIH) shares surged after reporting a 21% year-on-year increase in third-quarter FY23 sales to $45.7 million. The growth was primarily due to higher sales volume in Saudi Arabia. Gross profit rose 18.9% to $13.2 million, but the profit margin slightly contracted. Operating income increased by 33.1% to $6 million, and EPS improved to $0.24 from $0.21 last year. The company's backlog has grown each quarter this year, now at $73.1 million. PPIH shares jumped 14.90% to $8.00.

Portfolio Pulse from Shivani Kumaresan

December 08, 2023 | 4:46 pm

LULU

Lululemon Athletica Inc. (NASDAQ:LULU) reported Q3 revenue of $2.2 billion, a 19% increase YOY, surpassing estimates of $2.19 billion. Earnings were $2.53 per share, beating the $2.28 consensus. The company announced a $1 billion share buyback program but provided Q4 guidance slightly below estimates. Analysts from JP Morgan, Needham, Barclays, Keybanc, Morgan Stanley, and Deutsche Bank raised their price targets on LULU. LULU shares rose nearly 3% to $478.00.

Portfolio Pulse from Erica Kollmann

December 08, 2023 | 4:45 pm

EFTR

eFFECTOR Therapeutics Inc (NASDAQ:EFTR) released interim data from a Phase 1/2 study of zotatifin in ER+ metastatic breast cancer patients. The ZFA triplet cohort showed a median progression-free survival of 7.4 months with a 26% partial response rate. Zotatifin was well tolerated with most adverse events being Grade 1 or 2. No serious adverse events were observed in the new ZF dose escalation cohorts, and enrollment continues at higher doses. Additional data is expected in the first half of 2024. EFTR shares rose 2.94% to $0.59.

Portfolio Pulse from Vandana Singh

December 08, 2023 | 4:43 pm

CUBE

EPRT

UHT

Three REITs, CubeSmart (CUBE), Universal Health Realty Income Trust (UHT), and Essential Properties Realty Trust Inc. (EPRT), have announced increases in their quarterly dividends. CubeSmart raised its dividend by 4.1%, Universal Health Realty by a small increment, and Essential Properties Realty Trust by 1.8%. These increases reflect the companies' confidence in maintaining or growing earnings and revenue. However, CubeSmart was downgraded by Bank of America Securities in October due to weakening demand for self-storage facilities, despite beating FFO and revenue estimates in Q3. Universal Health Realty's high payout ratio may limit future dividend growth, while Essential Properties Realty Trust has a well-covered payout ratio and received recent Buy ratings from B.Riley Securities, Stifel, and Truist Securities.

Portfolio Pulse from Ethan Roberts

December 08, 2023 | 4:36 pm

DPZ

Evercore ISI Group analyst David Palmer has maintained an Outperform rating on Domino's Pizza (NYSE:DPZ) and increased the price target from $435 to $450.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:31 pm

GTES

Gates Industrial Corporation plc (NYSE:GTES) stock fell by 4.4% after the announcement of a secondary offering of 15 million shares by selling stockholders affiliated with Blackstone Inc. The underwriters have a 30-day option to buy an additional 2.25 million shares. Gates will not offer any shares nor receive proceeds from the sale. The offering will close on December 13.

Portfolio Pulse from Henry Khederian

December 08, 2023 | 4:31 pm