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UNH

UnitedHealth has reaffirmed its full-year 2024 adjusted EPS forecast to be in the range of $27.50-$28.00, aligning closely with the consensus estimate of $27.53. This outlook excludes direct response costs and the impact of the Brazil sale but includes an estimated $0.30 to $0.40 per share impact from business disruptions related to Change Healthcare services.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:06 am

COIN

GLD

MARA

MSTR

SPY

WGMI

Peter Schiff, a known crypto skeptic, questioned the bullish $100K Bitcoin prediction, highlighting the bearish trends in crypto-linked stocks like Coinbase, Galaxy Digital, MicroStrategy, Valkyrie Bitcoin Miners ETF, Marathon Digital, Bitfarms, and HIVE Digital. Despite Bitcoin's recovery attempts, these stocks have seen significant declines from their recent highs. Schiff contrasts this with the broader market's pullback and the rise in traditional safe havens like gold, suggesting investors might reconsider their crypto investments.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 10:05 am

CBSH

Commerce Bancshares (NASDAQ:CBSH) reported Q1 earnings of $0.86 per share, surpassing the $0.81 estimate, a 4.44% decrease from last year's $0.90. Sales reached $397.85M, exceeding the $390.36M estimate, marking a 2.21% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:04 am

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SPY

USO

Axios reported that the Treasury is set to approve new sanctions on Iran following an attack on Israel. This move aligns with the Biden administration's stance on Iran and could have implications for global markets, particularly affecting oil prices and geopolitical stability.

Portfolio Pulse from Charles Gross

April 16, 2024 | 10:04 am

TSLA

Tesla's Director of Autopilot Software, Ashok Elluswamy, has received a company-affiliated tag on X, indicating a potential leadership shift following the resignations of senior executives Drew Baglino and Rohan Patel. This development occurs amidst Tesla announcing layoffs affecting over 10% of its workforce as part of a cost-cutting measure to prepare for future growth. Other Tesla executives, including Franz von Holzhausen and Tom Zhu, also have Tesla-affiliated tags on X, while CEO Elon Musk's tag reflects his role as Chair of X Corp.

Portfolio Pulse from Anan Ashraf

April 16, 2024 | 10:01 am

ERIC

FIVG

IDGT

Ericsson (NASDAQ:ERIC) shares rose in premarket trading after reporting Q1 FY24 results, with a 15% Y/Y sales decline but improved margins and EPS beating consensus. The company anticipates further RAN market decline through the year but expects sales stabilization in H2 FY24. Exposure to ERIC can be gained through IShares U.S. Digital Infrastructure And Real Estate ETF (NYSE:IDGT) and Defiance Next Gen Connectivity ETF (NYSE:FIVG).

Portfolio Pulse from Lekha Gupta

April 16, 2024 | 10:00 am

UNH

UnitedHealth Group (UNH) reported Q1 2024 adjusted EPS of $6.91, surpassing the $6.62 estimate, and sales of $99.796B, exceeding the $99.290B estimate. This represents a 10.38% increase in EPS and an 8.56% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:56 am

CPRI

TPR

Traders express skepticism over the $8.5 billion acquisition of Capri Holdings Ltd (NYSE:CPRI) by Tapestry Inc (NYSE:TPR) due to antitrust concerns, despite Tapestry's confidence and secured European and Japanese approvals. The deal's completion is uncertain as U.S. regulatory approval is pending, and the market's reaction reflects this uncertainty with Capri's stock trading below the offer price and Tapestry's shares closing lower.

Portfolio Pulse from Shivani Kumaresan

April 16, 2024 | 9:44 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are facing a potential third consecutive session decline, premarket trading shows a 1.98% drop to $161.48. This downturn is attributed to concerns over significant layoffs, including high-profile executives, which erased about $30 billion from its market cap. The upcoming Q1 earnings report and rumors of halting a sub-$30,000 electric car project have also contributed to negative sentiment. Additionally, weak insurance registration data in China could further impact Tesla's stock.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 9:23 am

Deutsche Bank analyst Bastian Synagowitz downgraded ArcelorMittal (NYSE:MT) from Buy to Hold and reduced the price target from $34 to $31.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:17 am