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Stock Prices

NKLA

Nikola Corporation's (NASDAQ:NKLA) shares are trading lower, with a decrease of over 60% in the last month. This follows a report of a third incident where the lithium-ion cell battery of a Nikola electric vehicle caught fire. The company had previously recalled approximately 209 Class 8 Tre battery-electric vehicles due to fire risk and postponed all new BEV sales until the issues were resolved. Currently, 19.42% of available NKLA shares are being sold short.

Portfolio Pulse from Erica Kollmann

September 08, 2023 | 2:38 pm

ADBE

Mizuho Securities analyst Gregg Moskowitz has upgraded Adobe Inc (NASDAQ:ADBE) from Neutral to Buy, raising the price target from $520 to $630. This comes ahead of Adobe's fiscal third-quarter earnings release, with enterprise checks suggesting a healthy performance. Moskowitz expects Adobe to exceed the fiscal third-quarter estimate for net new Digital Media ARR due to an acceleration in web traffic. He also anticipates strong large deal activity in the next quarter and sees GenAI as a significant growth driver for Adobe.

Portfolio Pulse from Priya Nigam

September 08, 2023 | 2:36 pm

AMC

Hawaiian Electric Industries, Inc. (NYSE:HE) has been the focus of retail traders due to a catastrophic wildfire outbreak in West Maui, Hawaii, which led to allegations of negligence against the company. The company's stock has seen a significant decline, erasing two-thirds of its market value. However, there is speculation that the stock could rebound, similar to British Petroleum plc (NYSE:BP) after the 2010 oil spill.

Portfolio Pulse from Piero Cingari

September 08, 2023 | 2:33 pm

AAPL

CVX

GOOG

HOFT

ILMN

LLY

PVH

SPOT

STLA

TWTR

Elon Musk's acquisition of Twitter (now X) has reportedly lost 90% of its value. General Motors' wage offer has been branded as 'insulting' by UAW President Shawn Fain. Stellantis has opened its first Battery Technology Center in Italy. Kroger and Albertsons have agreed to sell select assets to C&S Wholesale Grocers for $1.9 billion. Kroger also reported a Q2 sales decline and reached a settlement for opioid claims. UK's NICE has endorsed Eli Lilly's diabetes medication, Mounjaro. Hooker Furnishings reported a Q2 sales decline. PVH Corp's subsidiary, Calvin Klein, has signed a licensing deal with Revman. Apple has responded to the discovery of zero-day exploits. Workers at Chevron's LNG projects in Australia have gone on strike. Zoom has engaged with regulators over Microsoft's perceived anticompetitive behavior. Google has cut ties with Joshua Wright over sexual harassment allegations. Goldman Sachs is preparing for another round of job cuts. Spotify plans to offer free audiobooks to its paying subscribers. Carl Icahn has shown support for Illumina's new CEO.

Portfolio Pulse from Vandana Singh

September 08, 2023 | 2:32 pm

ISRG

Intuitive Surgical's (NYSE:ISRG) short percent of float has fallen 16.09% since its last report, with 2.57 million shares sold short, which is 0.73% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. Compared to its peers, Intuitive Surgical has less short interest.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:30 pm

AMGN

Amgen's (NYSE:AMGN) short percent of float has risen 8.2% since its last report, with 7.03 million shares sold short, which is 1.32% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, compared to its peers, Amgen has less short interest as a percentage of float (3.82%).

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:30 pm

SHEL

Shell's (NYSE:SHEL) short percent of float has risen 90.0% since its last report, with 6.15 million shares sold short, which is 0.19% of all regular shares available for trading. It would take traders 1.38 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Shell's peer group average for short interest as a percentage of float is 1.72%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

September 08, 2023 | 2:30 pm

GATO

LTRX

SMAR

Several US stocks traded higher on Friday, with Lantronix, Smartsheet, Smith & Wesson Brands, Gatos Silver, Guidewire Software, CymaBay Therapeutics, Seneca Foods, IonQ, Lifezone Metals, Aclaris Therapeutics, STAAR Surgical, Precision Drilling, and The Kroger Co. all recording gains. Notable movements include Lantronix's 26.3% jump following better-than-expected quarterly sales, Smartsheet's 14.1% rise after a Q2 earnings beat and strong guidance, and Gatos Silver's 13% increase after an upgrade from Canaccord Genuity. The Kroger Co. rose 4% following quarterly results and reaching an opioid settlement agreement.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 2:29 pm

AAPL

QQQ

SPY

WMT

Walmart is reportedly cutting starting pay for new hires and not giving raises this year. This news has led to a breakout in Walmart's stock. Goldman Sachs is planning another round of job cuts, affecting up to 5% of employees. There is complacency about Apple becoming a pawn in U.S.-China geopolitics, and a chip breakthrough in China could pose a challenge to Apple. Early trade money flows are positive in Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla, as well as in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

September 08, 2023 | 2:25 pm

BABA

Alibaba Group Holding Ltd. has decided to postpone the potential Hong Kong IPO of its Freshippo grocery chain due to weak sentiment for consumer stocks. After initial discussions with potential investors, Alibaba concluded that it could likely achieve a valuation of around $4 billion for Freshippo, which is lower than its initial expectations.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 2:24 pm