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A bond trader placed a record single bet on December 2024 SOFR futures, anticipating at least three Federal Reserve rate cuts by year-end. This move, ahead of the March inflation report, could pay off if inflation is lower than expected, potentially leading to rate cuts. The trade involved 75,000 contracts and was the largest for this product. Treasury yields fell slightly, and related ETFs like SHY, IEF, and TLT saw modest gains in anticipation of the inflation data.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 9:11 pm

VIAO

VIA optronics AG announced its intention to voluntarily delist its American Depositary Shares (ADSs) from the NYSE by April 29, 2024, citing economic reasons such as low liquidity and high maintenance costs.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 9:06 pm

SHIBUSD

Shiba Inu (SHIB) has experienced a significant surge in daily transactions and token burns, indicating bullish sentiment among investors despite a recent price dip. The project's marketing lead announced major upgrades for Shiba Eternity, contributing to a 1,082% increase in daily transactions and a 1,344.1% increase in the burn rate. Large transaction volume also surged by 179.5%, with the price of SHIB up 4.2% week-over-week.

Portfolio Pulse from Khyathi Dalal

April 09, 2024 | 9:02 pm

UDR

Analysts have mixed views on UDR (NYSE:UDR), with recent ratings ranging from bullish to indifferent. The average 12-month price target is $37.75, down from $39.67. Analyst actions include adjustments to ratings and price targets, reflecting changing market conditions and UDR's performance. UDR, a real estate investment trust, shows strong financial indicators such as a positive revenue trend, exceptional net margin, and effective debt management. The company's market position is robust, with a market capitalization above industry average.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 9:01 pm

NCNO

Ncino (NASDAQ:NCNO) has received mixed analyst ratings over the last three months, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for NCNO is $36.33, reflecting an 8.77% increase from the previous target of $33.40. Analysts from firms including Keefe, Bruyette & Woods, Morgan Stanley, Baird, Needham, and Piper Sandler have updated their ratings and price targets, indicating a dynamic market response to Ncino's performance. Ncino, a provider of cloud-based software for financial institutions, has shown impressive revenue growth of 13.29% as of January 31, 2024, but its revenue growth lags behind industry peers. Despite this, Ncino has a strong net margin of 0.94% and an exceptional return on assets (ROA) of 0.09%, though its return on equity (ROE) is below industry averages.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 9:00 pm

CCG

Cheng Zhong has resigned as Co-CEO of Cheche Group (CCG) for personal reasons, with no disagreements cited. Lei Zhang will continue as the sole CEO.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 8:54 pm

JAGX

Jaguar Health, Inc. (NASDAQ:JAGX) shares surged after-hours following the approval of all proposals at its special stockholders meeting, including avoiding a reverse split. The company has been granted an additional grace period until August 13, 2024, to meet Nasdaq's $1.00 bid price requirement for continued listing. Over the past year, JAGX shares have declined by 84.75%, but have risen 26.05% over the past month.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 8:51 pm

TTEK

Tetra Tech (NYSE:TTEK) has seen a 7.0% increase in its short percent of float, now at 2.14% with 902 thousand shares sold short. This indicates a bearish market sentiment, although it's below the peer group average of 3.40%. Short interest is a key indicator of market sentiment, and an increase suggests investors are expecting the stock price to fall. However, high short interest can also lead to bullish outcomes under certain conditions.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 8:45 pm

RDFN

Redfin (NYSE:RDFN) has seen a decrease in short interest, with 20.08 million shares sold short, representing 24.58% of its float. This is a significant reduction of 6.43% from its last report. The current short interest suggests a bullish sentiment among investors, as it takes approximately 3.84 days to cover all short positions. Redfin's short interest is notably higher than its peer group average of 6.18%, indicating more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 8:45 pm

JPM

JPMorgan Chase's (NYSE:JPM) short interest has increased by 13.64% since the last report, with 21.38 million shares sold short, representing 0.75% of its float. This indicates a bearish sentiment among investors, although it's lower than its peer group average of 1.78% short interest as a percentage of float. The article suggests that an increase in short interest does not necessarily predict a decline in stock price.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 8:45 pm