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DKNG

PDYPY

PENN

DraftKings Inc (NASDAQ:DKNG) was upgraded from Hold to Buy by Stifel analyst Jeffrey A. Stantial, with a price target increase from $40 to $45. The upgrade is based on factors such as same-state handle growth, hold-rate expansion, marketing discipline, and EBITDA upside. Stantial notes that competition risks, such as from PENN Entertainment's (NASDAQ:PENN) ESPN Bet, are easing, which may benefit DraftKings. Flutter Entertainment (OTC:PDYPY), the parent company of FanDuel, is also mentioned as a potential risk due to its planned NYSE listing. Other analysts have mixed views on DraftKings, with ratings ranging from Underperform to Buy and price targets between $28 and $50. DraftKings shares were down 2% to $36.90 on Friday.

Portfolio Pulse from Chris Katje

January 19, 2024 | 7:08 pm

BIRK

Baird analyst Mark Altschwager has maintained an Outperform rating on Birkenstock Holding (NYSE:BIRK) and increased the price target from $53 to $54.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 7:07 pm

ADBE

Adobe (NASDAQ:ADBE) has significantly outperformed the market with an average annual return of 25.72% over the past 10 years. An investment of $100 in ADBE a decade ago would be worth $971.90 today. Adobe's market capitalization stands at $271.35 billion, reflecting its strong performance and growth.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:01 pm

MU

Over the past 10 years, Micron Technology (NASDAQ:MU) has produced an average annual return of 13.98%, outperforming the market. A $100 investment in MU a decade ago would be worth $369.96 today. Micron's market cap stands at $94.95 billion, reflecting its growth and investor returns over time. The key takeaway is the significant impact of compounded returns on investment growth over long periods.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:01 pm

JNJ

Johnson & Johnson (NYSE:JNJ) has seen a decrease in short interest, with the short percent of float dropping 18.75% since the last report. The company has 12.47 million shares sold short, which is 0.52% of available shares, taking an average of 2.37 days to cover. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term rise in stock price. JNJ's short interest is lower than its peer group average of 3.94%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:00 pm

NFLX

Netflix (NYSE:NFLX) has seen a 3.12% increase in short interest since its last report, with 9.97 million shares sold short, representing 2.31% of its float. It would take about 3.09 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Netflix has less short interest compared to its peer group average of 7.14%. The rise in short interest doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:00 pm

HLP

Hongli Group (NYSE:HLP) has seen a 194.74% increase in short interest since its last report, with 16 thousand shares sold short, representing 0.56% of its float. The short interest is below the peer group average of 1.96%. While high short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:00 pm

AREN

Sports Illustrated faces mass layoffs following a missed $2.8-million licensing payment by Arena Group Holdings Inc (NYSE:AREN) to Authentic Brands Group. Authentic has terminated the licensing agreement with Arena Group, which could result in the layoff of all Sports Illustrated staff. The Sports Illustrated Union and the NewsGuild of New York have issued a statement urging Authentic to continue publishing the magazine. Arena Group's stock price dropped 18.08% to $1.06.

Portfolio Pulse from Dustin Blitchok

January 19, 2024 | 6:59 pm

JBLU

JetBlue Airways is cutting routes and service to improve profitability following a judge's decision to block its acquisition of Spirit Airlines. The airline is discontinuing flights from New York to Portland, San Jose, Ponce, and Milwaukee, and from Westchester, NY to Martha's Vineyard. JetBlue is also ending its focus city status at Baltimore/Washington International Thurgood Marshall Airport. The changes were planned before the court's decision, aiming to focus on profitable leisure routes and Caribbean and Paris services.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:47 pm

AVGO

Broadcom's stock (AVGO) is trading higher due to overall strength in the semiconductor sector and a positive analyst rating from Goldman Sachs, which reinstated a Buy rating and set a price target of $1,325.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:40 pm