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CMTL

Comtech Telecommunications Corp. has received a $45 million strategic investment through the exchange of convertible preferred stock, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:58 pm

SXTP

60 Degrees Pharma's stock is up following the announcement of a pivotal clinical study of tafenoquine for hospitalized babesiosis patients in the U.S., after a Type C meeting with the FDA.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:53 pm

UPST

Upstart Holdings, Inc. (NASDAQ:UPST) shares are experiencing an increase, trading higher amid overall market strength. Over the past five days, the stock has risen over 10%. Mizuho analyst Dan Dolev maintained an Underperform rating but raised the price target from $19 to $23. Additionally, Upstart announced a partnership with Maine Savings to provide personal loans. The stock is trending due to high trading volume and significant short interest, with 41.11% of available shares sold short.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 5:50 pm

CART

Maplebear shares have risen following Benchmark's initiation of coverage with a Buy rating and a $32 price target.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:49 pm

Arkhouse's Kahane expressed optimism about the possibility of increasing their offer for Macy's. This statement suggests that negotiations or considerations are ongoing regarding the acquisition of Macy's by Arkhouse. The potential for a higher bid may influence Macy's stock price as investors anticipate a more favorable outcome for shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:49 pm

Verizon Communications (NYSE:VZ) is expected to report a decline in Q4 earnings with an EPS of $1.07, down 10.1% from the previous year, and revenues around $34.6 billion, a 2% decrease. The company faces challenges with a $5.8 billion write-down in its wireline division due to competition and a shift to wireless services. However, Verizon's wireless division shows strong growth and the C-Band spectrum is anticipated to be a 'game changer' for 5G networks. Analysts remain bullish with most recent ratings being Strong Buy or Buy, and the stock has a high dividend yield of 6.84%.

Portfolio Pulse from Neil Dennis

January 22, 2024 | 5:49 pm

AON

CCG

FANH

GBLI

HIPO

ITIC

MBI

MRAI

PLMR

PRA

ROOT

TIRX

In Monday's intraday session, insurance stocks saw significant movement. Marpai, MBIA, Hippo Holdings, Root, Investors Title, and ProAssurance experienced gains, while Tian Ruixiang Holdings, Global Indemnity Group, Fanhua, Palomar Holdings, Cheche Group, and Aon saw declines. The movements were reported with respect to the stocks' prices, trading volumes, and market capitalizations.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:40 pm

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), co-founded OpenAI but left due to disagreements, launching a competitor, xAI. Musk invested over $40 million in OpenAI, which he envisioned as open-source, but it became profit-focused. Musk's xAI, with $134.7 million raised from investors, aims to innovate in AI, challenging OpenAI's market position. Musk's experience and strategic vision could make xAI a formidable player in the AI space, despite OpenAI's first-mover advantage.

Portfolio Pulse from Caleb Naysmith

January 22, 2024 | 5:37 pm

AAPL

AMD

ARM

INTC

MARA

MSFT

NVDA

SMCI

TSM

WDC

Today's session revealed significant options activity for several information technology stocks, with whale alerts indicating potential trading opportunities. Large volumes of contracts were traded for companies like AMD, NVDA, AAPL, WDC, MSFT, ARM, SMCI, TSM, INTC, and MARA. The sentiment of these trades ranged from bullish to bearish, with varying expiration dates and strike prices. Notable were bullish call sweeps for AMD and NVDA, a bearish put sweep for AAPL, and mixed sentiments for others like WDC and INTC.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 5:35 pm

CMA

RBC Capital analyst Jon Arfstrom has reiterated an Outperform rating on Comerica (NYSE:CMA) and maintained a price target of $63. This reaffirmation of the bank's stock performance and target price suggests confidence in Comerica's future financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:35 pm