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PINC

Premier Inc (NASDAQ:PINC) reported better-than-expected Q4 earnings but missed sales expectations. The company will not provide 2024 guidance due to its ongoing strategic review. Premier shares fell 8.6% to trade at $21.99 on Wednesday. Several analysts, including Piper Sandler, Canaccord Genuity, B of A Securities, UBS, and Benchmark, lowered their price targets on Premier following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 3:35 pm

DIA

IWM

NVDA

QQQ

SPY

Major indexes are up as investors evaluate mixed retail earnings. Tech stocks are also on the rise in anticipation of NVIDIA's upcoming earnings report.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:34 pm

JNJ

A significant bearish stance has been taken on Johnson & Johnson (NYSE:JNJ) by a large investor or institution, as indicated by unusual options trading activity. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $135.0 to $210.0 for Johnson & Johnson over the last 3 months. The current price of JNJ is down -0.8% at $164.7. Analysts have mixed ratings on the stock, with price targets ranging from $170 to $215.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:32 pm

MRK

Unusual options activity has been observed for Merck & Co (NYSE:MRK), with a large bearish position appearing on publicly available options history. The overall sentiment of these big-money traders is split between 41% bullish and 58% bearish. The price range targeted by these traders over the last 3 months is from $92.5 to $125.0. Cantor Fitzgerald has downgraded its action to Overweight with a price target of $135, while Morgan Stanley and Truist Securities have maintained their ratings with price targets of $116 and $122 respectively.

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 3:32 pm

META

Shares of Meta Platforms are trading higher, reflecting a broader trend of strength in the tech sector.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:28 pm

TMO

Thermo Fisher Scientific Inc. (TMO) shares are trading higher after Novo Nordisk reportedly hired the company as a contract manufacturer for its weight-loss drug, Wegovy.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:23 pm

CCL

Carnival Corporation (CCL) has seen a significant increase in the volume of its Sep 1 $17 calls, with 2187 contracts traded near the ask price of $0.241, compared to an open interest of 1023 contracts. The company is expected to release its earnings on September 19 before the market opens.

Portfolio Pulse from Charles Gross

August 23, 2023 | 3:21 pm

SHOP

Shopify's stock is trading higher, possibly due to overall market strength as stocks across sectors rebound after recent weakness.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:18 pm

AGTI

AMC

CIX

CVI

GFGD

LANC

NKE

PINC

PTON

TIVC

Several big stocks recorded losses in Wednesday's trading session. Foot Locker shares tumbled 34.4% after a Q2 revenue miss and an increase in inventories. Peloton Interactive fell 23.6% following mixed Q4 results and a decline in Connected Fitness subscribers. Tivic Health Systems, AMC Entertainment Holdings, The Growth for Good Acquisition Corporation, Definitive Healthcare Corp., Lancaster Colony Corporation, Premier, CompX International, iQIYI, CVR Energy, Agiliti, and NIKE also experienced declines.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 3:15 pm

ASX

INTC

MRVL

NVDA

TSM

Semiconductor and chip stocks are trading higher in anticipation of NVIDIA's earnings report after the close today.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 3:12 pm