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U.S. stocks traded higher with the Dow Jones gaining around 250 points. Honeywell International Inc reported downbeat Q4 revenue and a weak outlook, missing consensus estimates. Cimpress plc, NeuroBo Pharmaceuticals, and Celularity Inc saw significant stock price increases following positive financial results and clinical trial news. Conversely, Revelation Biosciences, Peloton Interactive, and Volcon Inc experienced substantial declines in their stock prices due to disappointing financial results and public offering pricing.

Portfolio Pulse from Avi Kapoor

February 01, 2024 | 7:20 pm

GSK

GSK Plc (NYSE:GSK) resolved a U.S. lawsuit related to its heartburn medicine Zantac, avoiding a trial in California. The settlement with plaintiff David Browne was confidential, with no admission of liability by GSK. This follows a similar settlement in October and the resolution of three breast cancer bellwether cases in California. GSK's recent performance and vaccine launches have been positive, despite past issues with Zantac, which was pulled from the market in 2020 due to carcinogenic concerns. GSK shares rose 2.94% to $40.60.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 7:19 pm

GOOS

Canada Goose shares surged following the announcement of their Q3 financial results and future guidance. The positive financial performance and optimistic outlook have contributed to the stock's upward movement.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:17 pm

ORCL

Oracle (NYSE:ORCL) has seen significant options activity, with a bearish sentiment prevailing among investors. Analysis of 21 trades shows 71% bearish and 28% bullish expectations. Notable trades include bearish puts and calls with strike prices ranging from $70 to $140. Current trading volume and price movements suggest a potential overbought condition, with ORCL's price recently up 1.21% to $113.05.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 7:15 pm

IBP

Goldman Sachs analyst Susan Maklari has maintained a Buy rating on Installed Building Products (IBP) and added the company to its Conviction List, indicating a strong belief in the stock's future performance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:15 pm

ALLY

Goldman Sachs analyst Ryan Nash has maintained a Buy rating on Ally Financial (NYSE:ALLY) and added the company to its Conviction List, indicating a strong belief in the stock's potential.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:13 pm

OKTA

Goldman Sachs analyst Gabriela Borges has reaffirmed a Buy rating on Okta (NASDAQ:OKTA) and added the company to its Conviction List, indicating a strong belief in the stock's future performance.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:12 pm

PTGX

Protagonist Therapeutics (PTGX) shares surged following the announcement of a worldwide license and collaboration agreement with Takeda for the development and commercialization of rusfertide. This partnership marks a significant milestone for PTGX, potentially enhancing its market position and financial outlook.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:12 pm

F

Traders are closely monitoring Ford shares following a rumor that Morgan Stanley has named Ford as its new top pick, with a potential stock price target of $21.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:11 pm

WW

Goldman Sachs analyst Jason English has maintained a Buy rating on WW International (NASDAQ:WW) and added the company to its Conviction List, indicating a strong belief in the stock's potential.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:09 pm