Streetbeat News

Stock Prices

CADL

Candel Therapeutics' stock is up following the FDA Fast Track Designation for its pancreatic cancer treatment, CAN-2409.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:25 pm

Boeing (BA) and Avolon have announced their intention for Avolon to purchase an additional 40 737-8 airplanes, expanding their 737 MAX portfolio. This order includes both 737-8 and 737-10 variants. The deal is contingent on approval from Bohai Leasing Co, Ltd, Avolon's main shareholder. The order will be added to Boeing's Orders and Deliveries website once finalized.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:24 pm

BLBD

Blue Bird Corp's stock (BLBD) is trading higher following the announcement of their Q4 financial results, which exceeded expectations. Additionally, the company has raised its revenue guidance for FY24, signaling confidence in its future performance.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:23 pm

AVGO

CMCSA

GOOG

NVDA

Citigroup analyst Christopher Danely reinstated Broadcom Inc (NASDAQ:AVGO) with a Buy rating and a $1,100 price target, causing the stock to close higher by $95. Broadcom's stock reached its highest price in a year at $1,029.24. The positive sentiment is due to Broadcom's strong core business and the acquisition of VMware, enhancing its cloud offerings. Broadcom is also expanding into AI, working with companies like Google and Comcast, but not directly competing with Nvidia in GPUs for AI model training. Broadcom's AI infrastructure sales are expected to double from $4 billion in FY23 to $8 billion in FY24. The company reported solid earnings for its fiscal fourth quarter, exceeding expectations and increasing its dividend by 14% to $5.25 per share. However, quarterly sales of $9.29 billion missed the Street's estimate of $9.41 billion.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 1:22 pm

CTHR

DCTH

FTCI

NEPH

Insiders at four penny stock companies, including Nephros, Delcath Systems, Charles & Colvard, and FTC Solar, have recently made significant share purchases. These transactions may signal insider confidence in the companies' prospects despite mixed recent financial results. Nephros and FTC Solar reported positive developments, while Delcath Systems and Charles & Colvard posted less favorable financial outcomes.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 1:21 pm

ALE

DTE

DUK

GNE

NGG

Five utilities stocks with high RSI values, indicating potential overbought conditions, are raising concerns for momentum-focused investors. Genie Energy Ltd. (GNE) reported strong Q3 results and raised FY23 guidance, with a 14% stock increase over the past month. DTE Energy Company (DTE) reported disappointing Q3 earnings and lowered FY23 guidance, yet its stock gained 13%. ALLETE, Inc. (ALE) is considering a sale after a sales decline, with a 9% stock increase over five days. National Grid plc (NGG) saw a decline in H1 EPS but an 11% stock increase over the past month. Duke Energy Corporation (DUK) reported positive Q3 earnings and a 10% stock increase over the past month.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 1:21 pm

ORCL

Oracle Corporation's stock is trading lower following the release of mixed financial results for the second quarter. The company's performance did not align with market expectations, leading to a negative reaction in the stock market.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:20 pm

SPEC

Spectaire Holdings Inc. (NASDAQ:SPEC) has announced a manufacturing financing agreement with Viva Capital Funding, LLC to support the mass production of its AireCore units. This agreement, along with the outsourcing of manufacturing to Columbia Tech, a subsidiary of Coghlin Companies, is expected to enable Spectaire to achieve positive free cash flow more quickly by reducing working capital needs and creating an asset-light production model. The AireCore units, which have begun shipping to customers, are priced at $2000 with an additional $1000 annual recurring revenue. The company's CFO and CEO believe this will help scale operations and address the growing market for emissions reduction technology.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:20 pm

ITUB

Itau Unibanco Holding (NYSE:ITUB) has seen a 13.21% increase in short interest since its last report, with 28.92 million shares sold short, representing 0.6% of available shares. The short interest ratio is 1.97 days to cover. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. ITUB's short interest is below its peer group average of 0.81%.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 1:15 pm

MPC

Marathon Petroleum (NYSE:MPC) has seen a 5.75% rise in short interest since the last report, with 10.47 million shares sold short, representing 2.76% of available shares. It would take about 3.67 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, MPC has a lower short interest as a percentage of float (2.76% vs. peer average of 8.47%).

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 1:15 pm