Streetbeat News

Stock Prices

CSIQ

Canadian Solar Inc. (NASDAQ:CSIQ) stock is rising after its subsidiary, Recurrent Energy, secured a $500 million investment from BlackRock. The investment, convertible into common equity, will account for 20% of Recurrent Energy's fully diluted shares post-conversion. Canadian Solar will retain the majority stake. The capital will help scale Recurrent Energy to meet the growing demand for renewable energy. High short interest in CSIQ shares may also be affecting stock volatility.

Portfolio Pulse from Erica Kollmann

January 23, 2024 | 4:16 pm

HUBS

HubSpot (NYSE:HUBS) has seen a 17.26% decrease in short interest since its last report, with 784 thousand shares sold short, representing 1.63% of its float. The average time to cover these short positions is 2.5 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. HubSpot's short interest is below its peer group average of 3.20%. Short interest is a key indicator of market sentiment and can influence stock prices.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:15 pm

BSX

Boston Scientific (NYSE:BSX) has seen a 20% decrease in short interest since its last report, with 9.35 million shares sold short, representing 0.64% of its float. The current short interest suggests it would take 1.73 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock, although it does not guarantee a price rise. Boston Scientific's short interest is below its peer group average of 3.53%.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:15 pm

ZS

Zscaler's (NYSE:ZS) short interest has decreased by 6.49% since the last report, with 5.23 million shares sold short, representing 5.76% of available shares. It would take about 4.42 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. Zscaler has a higher short interest than its peer group average of 4.04%.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 4:15 pm

ZION

Stephens & Co. analyst Terry McEvoy has maintained an Equal-Weight rating on Zions Bancorp (NASDAQ:ZION) and increased the price target from $46 to $48.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:14 pm

LUV

UAL

Southwest Airlines Co (NYSE:LUV) shares rose by 4% to $31.35, likely due to positive industry sentiment following United Airlines Holdings Inc's better-than-expected Q4 financial results. Additionally, Southwest Airlines pilots secured a new labor deal with a 50% pay increase over five years, after negotiations since September 2020. United Airlines reported earnings of $2 per share, above the $1.70 estimate, with quarterly sales of $13.60 billion, slightly above the $13.54 billion consensus.

Portfolio Pulse from Henry Khederian

January 23, 2024 | 4:11 pm

BMY

EXEL

PFE

Bristol Myers Squibb (BMY) and Exelixis Inc (EXEL) announced four-year follow-up results from the CheckMate -9ER trial, showing their combination treatment of Opdivo and Cabometyx outperformed Pfizer's (PFE) Sutent in treating advanced renal cell carcinoma. The combination treatment nearly doubled median progression-free survival and overall survival compared to Sutent, with significant improvements in response rates and duration of response across different risk groups. These results will be presented at the American Society of Clinical Oncology 2024 Genitourinary Cancers Symposium.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 4:11 pm

ERIC

Ericsson's stock is trading higher following the announcement of its Q4 financial results and the guidance for FY24.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:07 pm

BA

UAL

A United Airlines executive indicated during a conference call that the company anticipates a reduction in orders and deliveries from Boeing in 2025. The executive also mentioned that it is 'unrealistic' to expect 31 Boeing 737 MAX 9 aircraft deliveries within this year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:06 pm

PCAR

PACCAR Inc (NASDAQ:PCAR) shares rose after reporting Q4 FY23 sales of $8.59 billion, surpassing the $8.35 billion consensus. EPS was $2.70, beating the $2.22 estimate. The company delivered a record 204,200 vehicles globally in 2023 and saw U.S. and Canada Class 8 truck industry retail sales of 297,000 units. PACCAR invested in capital projects and R&D, and held $8.66 billion in cash and securities. The 2024 outlook for Class 8 truck sales is 260,000-300,000 units in the U.S. and Canada, and the same range for European above 16-tonne truck registrations. A quarterly dividend of $0.27 per share is declared, with a past extra dividend of $3.20 per share. PACCAR shares are up 2.72% at $99.73.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 4:03 pm