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Stock Prices

NVTS

Jefferies analyst Blayne Curtis downgraded Navitas Semiconductor (NVTS) from Buy to Hold and reduced the price target from $10 to $4.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:16 pm

YUMC

Yum China Holdings (NYSE:YUMC) has seen a 12.46% increase in short interest since its last report, with 13.69 million shares sold short, representing 3.52% of its float. The current short interest suggests a bearish market sentiment, although it's lower than the peer group average of 10.38%. The article suggests that an increase in short interest doesn't necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

May 13, 2024 | 1:15 pm

BAX

Baxter International Inc.'s (BAX) short interest has increased by 27.04% since the last report, with 9.68 million shares sold short, representing 2.49% of its float. This indicates a bearish market sentiment, although it's below the peer group average of 4.09% short interest. The article suggests that while increased short interest can signal bearish sentiment, it can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

May 13, 2024 | 1:15 pm

LYV

Live Nation Entertainment (NYSE:LYV) has seen a 6.7% decrease in short interest, now at 12.93 million shares or 8.21% of float, indicating a potential shift in market sentiment. With an 8.11-day average to cover short positions, this change could signal a more bullish outlook among investors compared to its peers, where the average short interest is 5.66%.

Portfolio Pulse from Benzinga Insights

May 13, 2024 | 1:15 pm

BAC

BIIB

CVX

FIHL

FROG

Jim Cramer recommends buying Micron and Bank of America, citing leadership and company performance. Baird upgraded Micron, while Bank of America faced a mini-tender offer rejection. Cramer advises selling JFrog amidst strong Q1 results. He's unimpressed with Biogen despite its earnings beat and does not favor Fidelis Insurance despite its positive earnings. Chevron is a buy, with Truist Securities raising its price target. Stock movements include declines for Biogen, Micron, Fidelis Insurance, and JFrog, with gains for Bank of America and Chevron.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 1:15 pm

APO

FTXL

INTC

SHOC

Intel Corp is in advanced talks with Apollo Global Management for an $11B partnership to build a chip plant in Ireland. The deal, expected to close in the coming weeks, aims to expand Intel's chip-making capacity amid rising demand and financial challenges. Intel's expansion includes facilities in Arizona, Ohio, and Ireland, competing with Taiwan Semiconductor and Samsung Electronics. The company seeks financing due to high project costs and a slowdown in its PC and server chip business. Intel's stock has seen modest gains, and the deal could attract government grants under the Chips Act of 2022.

Portfolio Pulse from Shivani Kumaresan

May 13, 2024 | 1:12 pm

VNO

Piper Sandler analyst Alexander Goldfarb maintains an Underweight rating on Vornado Realty (VNO) and lowers the price target from $25 to $22.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:10 pm

KWEB

PGJ

TME

Tencent Music Entertainment Group (NYSE:TME) reported a fiscal Q1 2024 revenue decline of 3.4% Y/Y to $937.0 million, surpassing analyst estimates. Despite a drop in social entertainment revenues, strong growth in online music services and a significant increase in music subscription revenues contributed to the positive outcome. The company also announced an annual cash dividend policy, with a dividend of $0.1370 per ADS for FY 2023. TME shares rose 1.65% in premarket trading, and the stock has gained over 68% in the last 12 months. Exposure to TME can also be gained through KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB) and Invesco Golden Dragon China ETF (NASDAQ:PGJ).

Portfolio Pulse from Anusuya Lahiri

May 13, 2024 | 1:09 pm

PEPEUSD

SHIBUSD

Pepe (PEPE) has seen a significant increase, with a 58% gain month-over-month, leading crypto trader Crashius Clay to predict its outperformance in the market. Clay, holding over $1 million in PEPE, anticipates a market frenzy and highlights the importance of disciplined investing. The meme coin's potential has sparked discussions on Crypto Twitter, with predictions of its market cap reaching $50 billion, up from its current $3.7 billion. IntoTheBlock data indicates a rise in Pepe holders' balances and a majority making a profit, contrasting with its negative correlation with Bitcoin.

Portfolio Pulse from Khyathi Dalal

May 13, 2024 | 1:09 pm

SCLX

Scilex Holding Company (NASDAQ:SCLX) has informed its stockholders about manipulative and naked short selling of its common stock. Management believes there are around 10 million shares sold short and more than 10 million Dividend Shares sold as 'naked short' positions since January 2023, which have not been covered. Additionally, there are substantial 'naked short' positions in approximately 44 million shares, based on voting data from Broadridge Financial Solutions, Inc. This situation may constitute a violation of Regulation SHO due to the failure of brokerage firms to deliver Dividend Shares for about 15 months.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:08 pm