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EFSH

Shares of 1847 Holdings were halted due to a circuit breaker after surging 121.6%.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:22 pm

X

Brian Deese, a Biden campaign adviser, has expressed concerns about Nippon Steel Corporation's proposed acquisition of United States Steel Corporation. Deese, who previously led the White House National Economic Council, suggested that the Biden administration should scrutinize the deal. His comments were made in a personal capacity, and the official stance of the White House remains cautious, with only a potential regulatory review indicated. The deal has also faced opposition from U.S. legislators and the United Steelworkers union. Shares of United States Steel Corporation (X) were trading lower by 0.82% at last check.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 7:22 pm

HYLN

Hyliion Holdings Corp. (HYLN) announced a $20 million stock repurchase plan, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:20 pm

VNO

Piper Sandler analyst Alexander Goldfarb has maintained an Underweight rating on Vornado Realty (NYSE:VNO) but increased the price target from $16 to $25.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:17 pm

SLG

Piper Sandler analyst Alexander Goldfarb has maintained an Overweight rating on SL Green Realty (NYSE:SLG) and increased the price target from $47 to $56.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:15 pm

SPY

VXZ

The VIX index, known as Wall Street's fear gauge, is at a three-year low, indicating low investor fear and a positive sentiment towards equities. The S&P 500 and SPDR S&P 500 ETF (SPY) have both gained 24% over the year. The VIX's inverse correlation with equity markets suggests a potential rally, but it cannot predict unforeseen events or guarantee a continuation of the trend into 2024. Investors are advised to be cautious of complacency in the market.

Portfolio Pulse from Neil Dennis

December 20, 2023 | 7:14 pm

DGX

Truist Securities analyst David S. MacDonald maintained a Hold rating on Quest Diagnostics (NYSE:DGX) but raised the price target from $145 to $150. The increase reflects strong base business trends, growth opportunities, cost/efficiency initiatives, and potential M&A and partnerships. Despite labor challenges, the company is experiencing core growth, improved pricing, and solid free cash flow (FCF) generation. MacDonald expects margin expansion from 2023 to 2026 and ongoing productivity improvements. He also raised the 2024 EPS estimate to $8.98 while keeping the 2025 estimate at $9.58. DGX shares dropped by 0.81% to $135.35.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 7:14 pm

NMRK

Piper Sandler analyst Alexander Goldfarb upgraded Newmark Group Inc (NMRK) to Overweight from Neutral with a new price target of $13, up from $7. The upgrade is based on expectations of strong leasing and capital markets growth in 2024, optimism due to an easing rate environment, and tenants competing for top-tier space. NMRK is also expected to benefit from loan portfolio sales as lenders reposition capital. The Fed's recent rate cuts are anticipated to positively impact real estate, with lower rates potentially healing the transaction market and encouraging the housing market. NMRK's shares rose 4.62% to $10.53.

Portfolio Pulse from Lekha Gupta

December 20, 2023 | 7:08 pm

GH

Guardant Health Inc (NASDAQ:GH) announced the FDA's Molecular and Clinical Genetics Panel will review its Shield blood test for colorectal cancer on March 28, 2024. The Shield test's PMA was fully submitted on March 10, 2023, with data from the ECLIPSE study. William Blair views the panel review as a positive surprise for the blood-based CRC screening market and maintains an Outperform rating on GH shares, despite a recent 7.60% drop in share price.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 7:07 pm

LQDA

UTHR

Liquidia Corp (LQDA) stock surged following a favorable ruling in a patent dispute with United Therapeutics Corporation (UTHR) over the '793 patent related to pulmonary hypertension treatment. The panel affirmed the Board's unpatentability determination, which is a positive development for Liquidia. United Therapeutics owns the patent for treprostinil, marketed as Tyvaso, and had initiated Hatch-Waxman litigation against Liquidia's Yutrepia. Despite the tentative FDA approval for Yutrepia, its market release is pending until the litigation and exclusivity period for Tyvaso expire. LQDA's stock price increased by 42.80%, while UTHR's stock fell by 4.39%.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 7:04 pm