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SEDG

Barclays has downgraded SolarEdge's stock from Overweight to Equal-Weight and reduced its price target from $274 to $152. As a result, SolarEdge shares are trading lower.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 6:22 pm

SPOT

Truist analyst Matthew Thornton has reiterated a Buy rating on Spotify Technology S.A. (NYSE:SPOT) with a price target of $176. The rating is based on the continued momentum of mobile app downloads and focus on margins/monetization. Thornton projects Q3 revenue of €3.34 billion vs. consensus of €3.32 billion, and Q4 revenue of €3.65 billion vs. consensus of €3.69 billion. SPOT shares traded higher by 1.96% at $156.57 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:22 pm

DHR

DIA

KLG

NEE

QQQ

SPY

TLT

XLC

XLE

XLK

XLU

The surge in Treasury yields has led to a 2% drop in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT). The S&P 500, Dow Jones, and Russell 2000 indices all fell, while the Nasdaq 100 rose slightly. The SPDR S&P 500 ETF Trust (NYSE:SPY), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), and Invesco QQQ Trust (NASDAQ:QQQ) all fell. The Technology Select Sector SPDR Fund (NYSE:XLK) and the Communication Services Select Sector SPDR Fund (NYSE:XLC) rose, while the Utilities Select Sector SPDR Fund (NYSE:XLU) and Energy Select Sector SPDR Fund (NYSE:XLE) fell. Stocks of Danaher Corp. (NYSE:DHR), Kellogg Co. (NYSE:K), WK Kellogg Co. (NYSE:KLG), and NextEra Energy Inc. (NYSE:NEE) fell, while Z Scaler Inc. (NASDAQ:ZS) rose.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 6:21 pm

Stifel analyst Matthew Smith reiterated a Buy rating for Philip Morris International Inc (PM) with a $114 price target. Smith believes that PM's shares are undervalued and do not reflect the growth potential from its smoke-free transition. PM's new medium-term guidance targets include 6-8% organic sales growth, 8-10% operating profit growth, and 9-11% EPS growth. PM is targeting 180 to 200 billion heated tobacco unit volumes by 2026 and nicotine pouch cans in the 800 million to 1 billion range. PMI gains access to IQOS in the U.S. beginning in May 2024.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:17 pm

DUK

Duke Energy's (NYSE:DUK) short percent of float has risen 12.84% since its last report, with 9.47 million shares sold short, which is 1.23% of all regular shares available for trading. It would take traders 2.12 days to cover their short positions on average. The company's short interest is less than its peer group average of 2.21%.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:15 pm

MCK

McKesson's (NYSE:MCK) short percent of float has risen 11.48% since its last report, with 1.83 million shares sold short, which is 1.36% of all regular shares available for trading. It would take traders 2.69 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 7.28%.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:15 pm

SHEL

Shell's (NYSE:SHEL) short percent of float has risen 26.09% since its last report, with 9.55 million shares sold short, which is 0.29% of all regular shares available for trading. It would take traders 2.12 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Shell's peer group average for short interest as a percentage of float is 1.63%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:15 pm

ETSY

Wedbush analyst Seth Basham initiates coverage on Etsy Inc (NASDAQ:ETSY) with a Neutral rating and a price target of $70. The analyst sees long-term growth opportunities for Etsy in the U.S. but is concerned about near-term risks. Despite volatile demand, Etsy has maintained most gross merchandise sales (GMS) and customer tailwinds. The company's investments in AI and Machine Learning could enhance the platform experience and increase purchase frequency. However, the analyst anticipates additional pressure on Etsy in the remainder of 2023 due to a decline in website traffic and increasing gas prices.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 6:14 pm

AMC

AMC Entertainment Holdings Inc announced that Beyonce's Renaissance World Tour will be released as a theatrical concert experience by AMC Theatres Distribution in the U.S., Canada, and Mexico starting Dec. 1. This comes as AMC is testing the demand for concert-like theatrical showings with the release of Taylor Swift's Eras Tour on Oct. 13. When tickets became available in the U.S. at the end of August, AMC said the concert film set a single day record for ticket sales revenue.

Portfolio Pulse from Adam Eckert

October 02, 2023 | 6:14 pm

BROG

Brooge Energy reported its financial results for the first half of 2023, which led to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 6:13 pm