Streetbeat News

Stock Prices

TWLO

Twilio Inc. has engaged Qatalyst Partners to advise on defense strategies against activist investors Legion Partners and Anson Funds, who are pushing for the sale of the company or its data and applications business unit, which includes Segment. Despite a 45% gain this year, Twilio's stock is still 84% below its peak from early 2021, and revenue growth has slowed significantly. The company recently announced layoffs, including a 5% reduction in its data and applications unit. Qatalyst, known for M&A advisory, is not indicating a sale of Twilio at this time.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:19 pm

BSX

Wells Fargo analyst Larry Biegelsen has maintained an Overweight rating on Boston Scientific (NYSE:BSX) and increased the price target from $59 to $62.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:16 pm

WEC

WEC Energy Group (NYSE:WEC) has seen a 13.69% decrease in short interest since the last report, with 5.06 million shares sold short, representing 2.08% of available shares. The average time to cover these short positions is 2.53 days. A decrease in short interest can indicate a more bullish market sentiment towards the stock. WEC has a lower short interest compared to its peer group average of 2.96%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:15 pm

USB

U.S. Bancorp (NYSE:USB) has seen a 9.19% decrease in short interest since its last report, with 26.07 million shares sold short, representing 1.68% of its float. The average time to cover these short positions is 3.49 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price. U.S. Bancorp has a higher short interest than its peer group average of 0.75%.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:15 pm

SPLK

Splunk (NYSE:SPLK) has seen a 3.61% rise in short interest since the last report, with 3.39 million shares sold short, representing 2.01% of available shares. The short interest is below the peer group average of 3.00%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 1.34 days to cover short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:15 pm

NIO

Nio Inc. (NYSE:NIO) has acquired production facilities from JAC for 3.16 billion yuan, allowing it to independently manufacture electric vehicles (EVs). Nio's Q3 earnings report showed positive trends in revenue, vehicle deliveries, gross margin, and vehicle margin. The company's financial position appears strong, with significant cash reserves. Nio's shares rose after the earnings release, despite a year-to-date decline. Mizuho Securities maintains a Buy rating on NIO but lowered its price target from $18 to $15. Nio may also spin off its battery production unit, seeking external investors.

Portfolio Pulse from The Bamboo Works

December 13, 2023 | 3:13 pm

ARGT

The Argentine peso has plummeted by 54% due to President Javier Milei's economic reforms, which include a drastic devaluation to tackle hyperinflation and a solvency crisis. The official exchange rate soared to 800 pesos per dollar, while the parallel market rate on Binance for the peso and Tether (USDT) is around 1,125 pesos per USD. Finance Minister Luis Caputo announced a series of austerity measures to reduce government spending and increase taxes. Argentine stocks, tracked by the Global X MSCI Argentine ETF (ARGT), dipped slightly in premarket trading but have risen nearly 20% since Milei's election. The IMF has expressed support for these reforms, which align with its recommendations.

Portfolio Pulse from Piero Cingari

December 13, 2023 | 3:11 pm

CSCO

Cisco Systems, Inc. (CSCO) has won a legal case as a federal judge dismissed patent infringement claims by Centripetal Networks. The initial $2.75 billion award against Cisco in 2020 was reversed due to an ethics issue involving the judge's wife owning Cisco stock. The case was reassigned, and the new judge ruled that Cisco did not infringe upon Centripetal's patents. CSCO shares dipped slightly by 0.33% to $49.17.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 3:10 pm

T

Wells Fargo analyst Eric Luebchow has maintained an Overweight rating on AT&T (NYSE:T) and increased the price target from $17 to $20.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:09 pm

TFSL

TFS Financial (NASDAQ:TFSL) is distributing a dividend of $0.28 per share with an annualized yield of 8.51%. The company has increased its dividend per share from $1.04 in 2019 to $1.13 in 2022, showing a commitment to shareholder value. However, earnings per share have decreased from $0.28 in 2019 to $0.27 in 2022, raising concerns about the sustainability of future dividends.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:05 pm