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Richmond Federal Reserve President Tom Barkin indicated the possibility of a 'soft landing' for the U.S. economy but did not rule out further rate hikes. He emphasized the need for a data-driven approach to future Fed decisions, particularly in response to inflation trends. Following his remarks, the U.S. dollar index rose, Treasury yields increased, and stock ETFs such as SPY, QQQ, and IWM saw declines.

Portfolio Pulse from Piero Cingari

January 03, 2024 | 3:49 pm

GOTU

Citigroup analyst Mark Li has upgraded Gaotu Techedu (NYSE:GOTU) from Sell to Buy and increased the price target from $2.48 to $4.5, indicating a more positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:46 pm

UNF

UniFirst Corp (NYSE:UNF) shares fell after reporting Q1 FY24 results with higher sales and adjusted EPS beating consensus, but the company expects to hit the lower end of its FY24 revenue guidance. Costs related to system upgrades and branding initiatives impacted operating income and EBITDA. The company has a strong balance sheet with no long-term debt and has authorized a new $100 million share repurchase program, with $99.7 million remaining after initial buybacks. UniFirst also increased its quarterly dividends.

Portfolio Pulse from Lekha Gupta

January 03, 2024 | 3:46 pm

CEG

Constellation Energy (NYSE:CEG) has seen a 3.83% increase in short interest since its last report, with 6.10 million shares sold short, representing 2.17% of its float. It would take about 2.38 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Compared to its peers, CEG has less short interest, with the peer group average at 2.38% of float.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:45 pm

DIA

IWM

QQQ

SPY

Major stock indexes have declined due to an increase in bond yields, which typically leads to a shift in investor preference from stocks to bonds as they become more attractive.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:45 pm

NEE

NextEra Energy's (NYSE:NEE) short interest has increased by 15.31% since the last report, with 23.12 million shares sold short, representing 1.13% of available shares. It would take about 1.72 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it doesn't necessarily predict a price drop. NextEra Energy has less short interest compared to its peer group average of 2.43%.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:45 pm

CAH

Cardinal Health (NYSE:CAH) has seen a decrease in short interest, with the short percent of float dropping 7.64% since the last report. The company has 7.40 million shares sold short, which is 3.99% of available shares for trading. The average time to cover these short positions is 3.0 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. However, this does not necessarily predict a near-term rise in stock price. Cardinal Health's short interest is below its peer group average of 4.75%.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 3:45 pm

META

TSLA

Elon Musk and Mark Zuckerberg have seen significant increases in their net worth in 2023, with Musk regaining the title of the world's richest person and Zuckerberg ranking sixth. Musk's wealth rose by over $96 billion, while Zuckerberg's increased by $84 billion. Tesla, Inc.'s stock doubled, but Meta Platforms, Inc.'s stock outperformed with a gain of over 185%. The rivalry between the two CEOs intensified with the launch of Meta's Threads to compete with Musk's X, born from Twitter. Both are focusing on AI for future developments, with Tesla's Autopilot AI and Meta's AI product team working on various AI-driven features.

Portfolio Pulse from Erica Kollmann

January 03, 2024 | 3:44 pm

RUN

Mizuho analyst Maheep Mandloi has reaffirmed a Buy rating on Sunrun (NASDAQ:RUN) and increased the price target from $23 to $28, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:44 pm

RF

Regions Financial (RF) shares have declined following a downgrade by Evercore ISI Group from Outperform to In-Line, despite an increase in the price target from $16.5 to $21.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:42 pm