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OKTA

Okta, Inc. (NASDAQ:OKTA) shares surged after reporting Q4 earnings and sales above estimates and providing strong guidance for Q1 and fiscal year 2025. Analysts have updated their ratings and price targets, reflecting optimism about the company's future performance.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 4:30 pm

HRL

PSTG

STER

VERX

Hormel Foods Corporation reported better-than-expected Q1 earnings, leading to a 12.6% stock increase. Other companies like Vertex, Tutor Perini, C3.ai, and Pure Storage also saw significant gains after reporting strong financial results or guidance. Sterling Check Corp announced an acquisition by First Advantage, and Avidity Biosciences announced a $400 million private placement.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 4:30 pm

PTC

PTC Inc. (NYSE:PTC) has seen a 22.14% increase in its short percent of float since the last report, with 1.70 million shares sold short, representing 1.6% of its available trading shares. It would take approximately 1.69 days for traders to cover these short positions. The rise in short interest can indicate a bearish market sentiment towards PTC, although it has less short interest compared to its peer group average of 3.84%. This information suggests investors are showing increased bearishness but PTC is still below the peer average for short interest.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:30 pm

TS

Tenaris (NYSE:TS) has seen a 15.79% decrease in short interest, now at 2.83 million shares or 0.48% of float, taking 1.37 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards TS compared to its peers, where the average short interest as a percentage of float is 7.87%.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:30 pm

EOG

EOG Resources (NYSE:EOG) has delivered an average annual return of 12.29% over the past 20 years, outperforming the market by 4.56% annually. With a current market capitalization of $66.22 billion, a $1000 investment in EOG 20 years ago would be worth $10,041.10 today.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:30 pm

PCAR

PACCAR (NASDAQ:PCAR) has delivered an average annual return of 19.78% over the past 5 years, outperforming the market by 7.07%. A $100 investment in PCAR 5 years ago would be worth $247.72 today. PACCAR's market capitalization stands at $58.51 billion.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:30 pm

TLRY

Tilray Brands (NYSE:TLRY) has seen a 9.6% decrease in short interest, now at 14.88% of its float, indicating a potential shift in market sentiment towards the stock. With 111.88 million shares sold short and a 5.93-day average to cover, this change could suggest a more bullish outlook among investors. Comparatively, Tilray's short interest is higher than its peer group average of 13.54%, highlighting its unique position in the market.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:30 pm

PZZA

Papa John's International, Inc. (NASDAQ:PZZA) shares rose after reporting Q4 adjusted earnings per share of 91 cents, surpassing expectations of 72 cents. However, net sales of $571.32 million fell short of the $577.86 million forecast. Revenues increased by 9% year over year, with North America sales up 2% and International sales down 6%. The company saw 89 net unit openings and reported a 17.5% increase in operating income to $42.6 million. Global system-wide restaurant sales grew by 11% to $1.34 billion, excluding foreign currency impacts. PZZA shares increased by 6.74% to $74.88.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 4:27 pm

BKKT

ICE

Bakkt Holdings Inc (NYSE:BKKT) shares fell 34% to $0.67 after announcing two securities purchase agreements. The first involves selling 46,136,102 shares at $0.8670 per share to institutional investors, and the second, a sale of up to 11,534,025 shares at the same price to an affiliate of Intercontinental Exchange, Inc. (ICE). The offerings are expected to generate approximately $42.4 million for working capital and general corporate purposes. Bakkt operates a platform for Bitcoin and other digital assets.

Portfolio Pulse from Henry Khederian

February 29, 2024 | 4:18 pm

RDFN

Gordon Haskett analyst Robert Mollins downgraded Redfin (NASDAQ:RDFN) from Hold to Underperform and set a price target of $5.5.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:18 pm