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Stock Prices

AEG

AJG

BRO

MCO

As of May 23, 2024, five financial stocks are considered overbought based on their RSI values, indicating potential short-term price declines. These stocks include Aegon Ltd. (AEG), Brown & Brown, Inc. (BRO), Arthur J. Gallagher & Co. (AJG), Hamilton Insurance Group, Ltd. (HG), and Moody’s Corporation (MCO).

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 11:57 am

ADI

Analog Devices, Inc. (NASDAQ:ADI) reported better-than-expected Q2 financial results, with revenue and adjusted EPS surpassing analyst estimates. Despite a decline in revenue and margins, the company is optimistic about a cyclical recovery. Analysts have raised their price targets for ADI following the results.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 11:53 am

ADI

AGS

CYTK

HAS

NVDA

SNOW

SNPS

Top Wall Street analysts have updated their price targets and ratings for several major companies, including NVIDIA, Foot Locker, DuPont, Cytokinetics, Chubb, Hasbro, Analog Devices, Synopsys, PlayAGS, and Snowflake. These changes reflect varying degrees of optimism and caution among analysts.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 11:48 am

MNRO

Monro has announced that it will not be providing financial guidance for fiscal 2025 at this time. The company will, however, share its expectations for the fiscal first quarter and the full year of fiscal 2025 during its upcoming earnings conference call.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:42 am

ZUO

Zuora shares are trading higher after the company reported better-than-expected Q1 2025 sales results and issued FY25 adjusted EPS guidance above estimates.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:41 am

CATO

Cato Corporation advises caution for the remainder of the year due to pressures on customers' discretionary spending levels.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:37 am

CATO

Cato Corporation reports that high interest rates and inflation are putting pressure on customers' discretionary spending, negatively impacting sales.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 11:36 am

ACDC

CSPI

MCFT

Insiders have recently purchased shares in MasterCraft Boat Holdings, ProFrac Holding, and CSP Inc., indicating confidence in these companies' prospects. Notable purchases include 347,804 shares of MasterCraft Boat Holdings by Adam Gray, 330,000 shares of ProFrac Holding by the Farris & Jo Ann Wilks 2022 Family Trust, and 2,350 shares of CSP Inc. by Joseph R Nerges.

Portfolio Pulse from Avi Kapoor

May 23, 2024 | 11:33 am

BABA

CGRO

CLIX

Alibaba Group Holding Ltd (NYSE:BABA) is planning a convertible bond sale to raise nearly $5 billion, following JD.Com, Inc's (NASDAQ: JD) recent move. Both stocks are trading lower on Thursday. Alibaba aims to use the funds for share repurchases and growth, particularly in its commerce and cloud businesses. The company is also engaged in a price war and has expanded its share buyback program for 2024. Bearish sentiments from U.S. short sellers have led to a selloff in Chinese stocks, affecting ETFs like iShares China Large-Cap ETF. Alibaba's fiscal Q4 2023 revenue grew 7% YoY to $30.73 billion, beating analyst expectations, but its adjusted earnings per ADS missed the consensus. BABA shares were down 1.72% in premarket trading on Thursday.

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 11:32 am

PFE

Pfizer Inc. (NYSE:PFE) has initiated a multi-year cost reduction plan targeting $1.5 billion in savings by 2027. This follows a $4 billion cost reduction plan announced last year. The initiative aims to enhance operational efficiencies and improve the product portfolio amid declining sales from COVID-19 treatments. The program will incur one-time charges of $1.7 billion, mainly for severance and implementation costs, with cash outlays expected in 2025 and 2026. Pfizer's shares rose 2.6% following the announcement but remain down about 24% over the past year.

Portfolio Pulse from Benzinga Neuro

May 23, 2024 | 11:31 am