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ONON

Piper Sandler analyst Abbie Zvejnieks has maintained an Overweight rating on On Holding (NYSE:ONON) and increased the price target from $37 to $39.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 6:01 pm

ARGX

GES

LU

MU

Guess?, Inc. (NYSE:GES) reported Q4 earnings surpassing estimates and declared a special dividend, leading to a 23.1% stock rise. Other stocks like Lufax Holding, Nortech Systems, and Micron Technology also saw significant gains following positive financial results or other favorable news. Notably, Micron Technology's strong Q2 results and Q3 guidance boosted its shares by 14.7%, while argenx SE surged 14.4% after competitors' data fell short.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 5:58 pm

NKE

Nike, Inc. (NKE) is set to release its Q3 earnings on March 21, 2024, with analysts forecasting a decrease in earnings per share from 79 cents to 74 cents year-over-year, and a projected quarterly revenue of $12.29 billion. The company announced plans to cut about 2% of its workforce to save costs and invest in key categories. Shares rose 0.3% to $100.27 recently. Analysts have revised their ratings and price targets ahead of the earnings call, with most maintaining a positive outlook but adjusting price targets downward.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 5:57 pm

ILMN

QCOM

An adviser to Europe's top court criticized EU antitrust regulators for overstepping their powers by blocking Illumina Inc's $7.1 billion bid for Grail Inc. The opinion could affect the EU's approach to mergers, including Qualcomm Inc's deals. Illumina completed the Grail transaction before approval, leading to a legal challenge. The adviser emphasized that the EU Commission should not have broad powers to review global mergers without significant EU presence. Illumina welcomed the recommendation, and a court ruling is expected soon. Illumina's stock rose 3.60% following the news.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 5:56 pm

MU

Major stock indexes have experienced gains, driven by a surge in technology stocks, particularly Micron, as investors react to the Federal Reserve's decision on Wednesday. This movement reflects optimism in the tech sector and anticipation of the Fed's monetary policy direction.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 5:55 pm

FCNCA

Goldman Sachs analyst Ryan Nash initiated coverage of First Citizens BancShares Inc (NASDAQ:FCNCA) with a Buy rating and a price target of $1,950, citing above-peer loan growth, cost controls, and potential for significant share buybacks. The bank is expected to return between $4.2 billion and $6.5 billion in share buybacks by the end of 2025, surpassing current consensus expectations. Despite elevated credit losses in high-risk portfolios, reserves are deemed adequate with potential for improvement.

Portfolio Pulse from Priya Nigam

March 21, 2024 | 5:54 pm

BDX

Becton Dickinson And Co (NYSE:BDX) has increased its U.S. production of medical syringes in response to the FDA's recommendation to avoid using certain China-made syringes due to quality concerns. The FDA's ongoing probe into plastic syringes manufactured in China has identified potential device failures. Becton Dickinson has ramped up manufacturing in Nebraska and Connecticut facilities to meet the additional demand. The FDA has specifically cited three Chinese companies for regulatory violations and advised transitioning away from their products. BDX shares rose 1.18% to $240.68.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 5:47 pm

LINC

Lincoln Educational Services' stock price increased following B. Riley Securities' reiteration of a Buy rating and an increase in the price target from $12 to $14.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 5:46 pm

YUM

Yum Brands's (NYSE:YUM) short interest has decreased by 12.39% since the last report, with 5.37 million shares sold short, representing 1.91% of its float. This decrease in short interest could indicate a more bullish sentiment towards YUM. Compared to its peers, YUM has a significantly lower short interest percentage of float, with an average of 9.86% among its peers.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 5:45 pm

ZM

Zoom Video Communications (NYSE:ZM) has seen a 6.61% increase in short interest, with 13.27 million shares sold short, representing 5.16% of its available trading shares. This indicates a bearish market sentiment towards ZM, although it's higher than its peer group average of 4.07% short interest. The rise in short interest suggests caution, but it's also noted that increasing short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 5:45 pm